• Bhubaneswar India
  • Contact+ 91-9938772605
  • Mon - Sat : 10:00AM - 6:00PM

Tag: Coatings

business

Fact.MR Predicts Powder Coatings Market Will Reach US USD 24.15 Billion by 2032

Nov 14, 2024 by Sujata 0 Comments #Coatings, #Powder

According to the latest industry analysis by Fact.MR, the powder coatings market was valued at US$ 12.72 billion in 2021 and is projected to witness a year-on-year growth rate of 5.0% in 2022, reaching US$ 13.48 billion. From 2022 to 2032, the market is expected to grow at an impressive CAGR of 6.0%, with the total market size anticipated to reach US$ 24.15 billion by the end of the forecast period.

Over the coming years, the powder coating market is anticipated to be driven by the growing demand for automobiles, including cars and commercial vehicles, in developing nations like China, India, and Brazil, as well as for replacement or spare parts in developed nations like the United States and the United Kingdom. Additionally, the growing use of powder coatings on many automotive parts is also expected to drive the market.

Powder Coatings Market – Key Takeaways:

  • Epoxy based powder coatings capture over a third of overall market value, owing to their enhanced features.
  • Given their high-quality finish and durability, acrylic-based powder coatings are likely to garner huge traction.
  • Europe is leading the pack in the global powder coatings market; East Asia and Southeast Asia & Oceania would offer potential growth avenues.
  • Consumer goods would be the key application area, while furniture is reflecting increasing application scope.

“Driven by uptight sustainability norms, industry executives are moving from liquid-based coatings to powder coatings. Powder coatings have low VOC content and thus reduce the risk of combustion during storage and application. Further, they curb the possibilities of health hazards to industrial workers,” opines Fact.MR in its new research study.

Powder Coatings Market – Key Driving Factors

  • Excellent resilience against chipping, and corrosion, as well as enhanced cost- and time-efficacy are broadening the adoption of powder coatings.
  • Increasing usage in automobiles, home-appliances, and industrial machinery & equipment to widen investment opportunities.
  • Market players are transforming manufacturing processes with Industry 4.0 technologies – artificial intelligence (AI), and cloud computing.

Competitive Landscape

Powder coating manufacturers are investing in R&D and are rolling out innovative offerings and utilizing automation technologies to form collaborations with demanding customers. Key players in powder coatings market include Akzo Nobel N.V., PPG Industries, Inc., BASF SE, Eastman Chemical Company, Nippon Paint Holdings Co., Ltd., Bayer AG (Covestro AG), Eisenmann, Evonik Industries AG, and Sherwin-Williams.

  • PPG Industries announced in April 2022 that it had successfully acquired the Milan, Italy-based industrial coatings company Arsonsisi’s powder coatings production division.
  • In September 2021, BASF’s Coatings division began using Covestro’s Ultra line of coating hardeners. In order to comply with the stringent occupational safety standards regarding the use of isocyanates, BASF was able to enhance its array of refinish coatings.
  • PPG introduced CORAFLON platinum coatings for architectural metals in May 2021. The proprietary coatings process offers better corrosion resistance and high transfer efficiency rates of over 20% when compared to conventional fluoroethylene vinyl ether coatings. Globally, PPG CORAFLON Platinum products come in a range of hues, metallic finishes, glosses, and micas.
business

Fact.MR Predicts Flat Glass Coatings Market Will Reach USD 13.33 Billion by 2032

Nov 13, 2024 by Sujata 0 Comments #Coatings, #Market

According to the latest industry analysis by Fact.MR, the global flat glass coatings market is expected to reach US$ 2.16 Billion in 2022 and grow at a compound annual growth rate (CAGR) of about 20.2% from 2022 to 2032, according to a recent report on the subject published by Fact.MR, a supplier of market research and competitive intelligence. The market is expanding primarily due to increased demand for flat glass coatings from the solar power generation, mirror production, and automotive manufacturing sectors.

Demand for these coatings is expected to increase quickly over the next ten years as they extend the lifespan and overall efficiency of solar panels.

The solar module manufacturing industry is anticipated to have a significant need for flat glass coatings in solar projects. As more individuals become conscious of sustainable energy sources, solar panels are growing in popularity. Furthermore, as manufacturers continue to focus on end users and create customised solutions that meet the needs of their clients, nano coatings are anticipated to gain popularity in automotive applications. The increasing demand for smart mirrors necessitates the development of novel glass coatings to meet the demands of smart mirror coatings.

Key Takeaways from Market Study:

  • By resin type, polyurethane flat glass coatings are projected to provide an absolute $ opportunity worth US$ 6.16 Bn over the forecast period of 2022-2032.
  • By product type, solvent based coatings accounted for 54.7% market share in 2022.
  • Among the applications, demand for mirror coatings is anticipated to expand around 8.2X in market value by 2032.
  • Architectural coatings are poised to create an absolute $ opportunity worth US$ 1.49 Bn by 2032.
  • North America is set to hold around 28.3% share in the global flat glass coatings market by 2032.
  • Europe is predicted to provide an absolute dollar opportunity worth US$ 2.62 Bn by 2032.

Competition Landscape:

Arkema, Apogee Enterprises, Bee Cool Glass Coatings, DOW Corning, FENZI, Ferro Corporation, Sherwin-Williams Company, Vitro Architectural Glass, Nippon Paint, SunGuard, Hesse, Diamon-Fusion International, Nano-Care Deutschland, Sunguard, and Tribos Coatings are major manufacturers of flat glass coatings.

Winning Strategy:

A vital strategy for flat glass coating suppliers has been to set up manufacturing facilities in high-potential locations and invest in the research and development of innovative coatings that are customized to the requirements of end users.

Manufacturers should obviously increase their production capacity, and, as a result, aim to offer innovative products that are tailored to the custom needs of end users, with focus on sustainability. Additionally, collaborations with end users should remain a vital strategy for manufacturers, as they would become aware of the needs of consumers, and, in turn, develop application-specific products, thereby catering to diverse customers across geographies.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the flat glass coatings market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of resin (polyurethane, epoxy, acrylic, other resins), product type (solvent-based, water-based, nano coatings), and application (mirror coatings, solar power, architectural, automotive, other applications), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).