Waterborne and Powder-based Coatings Creating Positive Outlook for Paints and Coatings Industry - Grand View Research, Inc.

Order your copy of the Free Sample of "Paints and Coatings Industry Data Book - Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030" Data Book, published by Grand View Research Order your copy of the Free Sample  of " Paints and Coatings Industry Data Book - Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market Size,...

Order your copy of the Free Sample of "Paints and Coatings Industry Data Book - Powder Coatings, Waterborne Coatings, Solvent-borne Coatings and High Solids/Radiation Curing Coatings Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030" Data Book, published by Grand View Research

Powder coating technology has gained ground with the rising penetration of the automobile, construction and furniture markets. Predominantly, the emergence of electric vehicles from Tesla, Audi, GM, Hyundai, Toyota and Nissan, among others, has strengthened the position of powder makers. EV original equipment manufacturers (OEMs) seeking sustainability (zero-emission coatings and coatings having no-to-low VOC) are likely to inject funds into the landscape. The global powder coatings market generated USD 8.52 million tons in 2022 and will exhibit a 3.9% CAGR during the forecast period. The growth outlook is partly due to the demand for sustainable solutions and the prevention of corrosion across business verticals.

Forward-looking companies have upped focus on waterborne paints and coatings on the back of rigorous environmental regulations. The low level of VOC, durability, and performance have made these paints sought-after among manufacturers. Some of the upsides, such as better color retention, higher temperature resistance, tremendous adhesion, low odor and less flammability, have made water-based formulations favorable for paints and coatings. The waterborne paints and coatings market size was valued at USD 18.92 million tons in 2022 and could depict a CAGR of 3.4% through 2030.

Go through the table of content of Paints & Coatings Industry Data Book to get a better understanding of the Coverage & Scope of the study

Trends and opportunities that are likely to steer the industry growth are delineated below:

The U.S. and Canada are poised to provide opportunities galore with industrial paints and coatings gaining ground across oil & gas, construction, automotive, aerospace, mining, marine, electronics and home appliances applications. For instance, marine coatings are sought-after on Navy ships to enhance anti-fouling and anti-corrosive properties. The paints and coatings industry in North America has emerged as a happy hunting ground to enhance aesthetic appeal, performance enhancement and durability. Of late, technology-powered paints & coatings have become more sustainable and resilient, suggesting their indispensable role in North America's infrastructural developments.

The competitive landscape indicates incumbent players could inject funds into organic and inorganic strategies, including innovation, research & developments, product offerings, technological advancements, partnerships, mergers & acquisitions and geographical expansion. To illustrate, in April 2022, Akzo Nobel completed the acquisition of Grupo Orbis to bolster its footprint in the Latin America market. In August 2022, PPG announced pouring USD 11 million to increase the powder coating capacity by two-fold in Mexico.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com/sector-reports-list
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/waterborne-and-powder-based-coatings-creating-positive-outlook-for-paints-and-coatings-industry---grand-view-research-inc-301854937.html