The powder coatings market significantly entails of sales of powder coatings. The Powder coatings is a finishing procedure and keeps the binder and filler parts in a liquid suspension form.
The worldwide powder coatings
market was value USD 24.2 billion in 2019. It is projected to grow at a
compound annual growth rate (CAGR) of 11% and reach USD 36.18 billion by 2023.
Whereas, the powder coatings market has been geographically divided into North
America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle
East & Africa. However, the Asia Pacific accounts for nearly 55% of the
market.
The Powder coating is an energy
intensive progression that consumes more energy throughout curing process. The
Curing is a chemical process where paint is enabled to dry and harden. The
great consumption of energy increases the functioning expenses of manufacturing
corporates. For example, across Sweden there are approximately 350 powder
coating plants and utilizing more than one metric ton of coating powder that
accounts for the total energy utilization of 525 GWh/year, corresponding to 1.5
GWh/year per plant. Thus, great consumption of energy in powder coating limits
the growth of the market.
Enterprises are now focusing on the
new coating technology for heat sensitive substrates likewise medium density
fiberboard (MDF). This technology guzzles low power as the curing procedure is
done in lower temperature equaled to the conventional approach. For instance,
IGP-RAPID released by IGP are based on new raw materials collective with IGP
technology and allows a low-temperature powder coatings at 266 F (130 C) and
curing durations of 3 minutes. This technology is ecological, augments product
design, and delivers the long-term functional fortification.
The Powder coatings release
insignificant amount of the Volatile Organic compounds (VOC) when associated to
solvent-based coatings. Whereas, the VOCs are carbon compounds that convert gas
at room temperature and become the major reason for air pollution. Governments
across the world are exasperating to enforce altered regulatory acts to reduce
emission of VOC. For instance, to diminish the emission of VOC, Hong Kong
government has instigated a regulation that confines products exceeding the
standard emission of VOC in the region. Thus, inadequacy on products that
engender high VOCs stimulate the sales of powder coatings thereby influencing
the market. Therefore, it is predicted that the market of powder coatings will
increase around the globe over the upcoming duration more effectively.
For More Information, Click on the Link Below:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
No comments:
Post a Comment