U.S. & Europe Powder Coatings Market Key Trends and Strategies for Expansion 2026

PORTLAND, OREGON, UNITED STATES, April 4, 2024 /EINPresswire.com/ -- The combined U.S. & Europe powder coatings market was valued at $2.96 billion in 2018 and is anticipated to reach $4.29 million by 2026, exhibiting a Compound Annual Growth Rate (CAGR) of 4.7% from 2019 to 2026. This comprehensive report provides an in-depth analysis of key segments, including top investment pockets, evolving dynamics, market size & estimations, and competitive landscape.

Powder coatings consist of dry fine particles electrostatically charged and sprayed onto metal surfaces. Renowned for delivering an attractive and durable finish, powder coating offers exceptional resistance to corrosion, heat, and abrasion. Its applications span across various industries, notably automotive, appliances, architecture, and furniture.

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The market growth is propelled by the surge in automotive production across Europe and stringent regulations addressing Volatile Organic Compound (VOC) emissions, along with favorable government initiatives. However, challenges such as escalating raw material costs and the presence of contaminants in wastewater discharge impede market expansion. Nonetheless, the emergence of novel application methods presents promising opportunities in the foreseeable future.

The U.S. & Europe powder coatings market is segmented by type, coating method, application, and region. In terms of type, the market comprises thermoset and thermoplastic coatings. The thermoset segment dominated in 2018, accounting for 91% of the total market share, and is poised to exhibit the fastest CAGR of 4.8% during the forecast period.

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Regarding coating methods, the market is bifurcated into electrostatic spray and fluidized bed techniques. While the electrostatic spray segment commanded a major share in 2018 (96%), the fluidized bed segment is expected to register the swiftest CAGR of 5.5% through 2026.

Application-wise segmentation includes appliances, automotive, architectural, furniture, agriculture construction, and earthmoving equipment (ACE), general industrial, among others. The automotive segment emerged as the largest in 2018, contributing nearly one-fifth of the market share and is projected to witness the fastest CAGR of 5.3% during the forecast period.

Geographically, the U.S. and Europe are the key regions analyzed. Europe led the market in 2018, accounting for over half of the total market share. However, the U.S. region is forecasted to register the fastest CAGR of 5.4% during the forecast period.

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The report encompasses an extensive analysis of major market players, including Lotte Chemical Corporation, Arkema S.A., Braskem S.A., Celanese Corporation, DOW Inc., Exxon Mobil Corporation, Sinopec Corporation, Hanwha Chemical Co, Ltd., Lyondell Basell Industries N.V., and Formosa Plastics Corporation. This analysis entails insights into business overviews, financial assessments, and product portfolios. Additionally, it covers industry developments such as expansions, acquisitions, growth strategies, joint ventures, collaborations, and product launches, facilitating stakeholders in formulating informed strategic decisions for long-term profitability and market share acquisition.

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