Europe powder coatings market forecast will cross $3.4 billion by 2026 as the product has a wide range of applications across automotive & transportation, general metal, and electronic appliances. The coatings have several noteworthy features, such as high transfer efficiency, cost-effectiveness, great durability, and easy product claim.
Powder coatings offer high resistance to corrosion, high-quality finish, gloss retention, and great abrasion & scratch resistance. In addition to this, the product is eco-friendly, which helps the sectors in complying with the strict VOC regulations. The presence of powder coating manufacturers is growing at a robust rate in Europe. These factors have made the product highly popular across the end-use applications.
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Thermoset resin-based powder coatings held a significant share of Europe market in 2019. Some of the popular forms of thermoset resin include epoxy, polyester, acrylic, and polyurethane. These products have high thermal stability, which plays a vital role in offering steadiness in post-curing treatments. They have excellent weathering properties and need lower temperatures for curing treatments as compared to thermoplastic resins.
Appliances held a major share of powder coatings market in Europe in 2019. The regional electric appliances sector is growing at a fast pace and the products are undergoing major technological changes. Customers, on the other hand, have increased their spending on these products. The competition among companies to produce advanced appliances has played a key role in fostering the use of powder coatings in the products.
End-users in Europe will likely use powder coatings for metallic substrates as they are highly resistant to corrosion and other chemicals. They are easier to apply on metallic substrates as compared to non-metallic ones and have a variety of applications in general metallic structures such as vending machines, outdoor furniture, and exercise equipment.
Europe powder coatings market size from automotive applications is anticipated to register 8% CAGR through 2026 as the region’s automotive sector is growing at a strong rate. Europe has a high number of reputed companies that manufacture luxury vehicles on a large scale. These coatings are majorly used for under hood components, door handles, and rims and offer supreme finish and texture to the automobile.
Germany powder coatings market share was valued at more than $450 million in 2019. The production capacity of powder coatings is growing at a healthy pace to cater to the demand of automotive manufacturers.
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The country has a high presence of reputed car manufacturing companies, such as BMW, Audi, Mercedes Benz, and many others. As per the European Commission, Germany held nearly 28% share in the EU industrial output in 2018. These aspects will increase the adoption of powder coatings in the nation.
Europe powder coatings market outlook will progress at a significant rate as well-known organizations, including Jotun Powder Coating, AkzoNobel NV, PPG Industries Inc. Limited, and Axalta Coating Systems LLC, among a few others are involved in the production of thermoset & thermoplastic resins, and fusion bonded epoxy for metallic and non-metallic substrates. The coatings will witness high applications in architecture, construction & agriculture equipment, jobbers, pipeline, oil & gas and many other areas.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market definitions
1.2 Market assumptions & forecast parameters
1.4 Data Sources
Chapter 2 Executive Summary
2.1 Europe Powder Coatings market summary, 2015 – 2026
2.1.1 Business trends
2.1.2 Resin trends
2.1.3 Application trends
2.1.4 Substrate trends
2.1.5 Country trends
Chapter 3 Europe Powder Coatings Industry Insights
3.1 Industry segmentation
3.2 Industry outlook, 2015 – 2026
3.3 Value Chain
3.4 Regulatory overview
3.5 Market factor analysis
3.5.1 Growth drivers
3.5.2 Growth restraints
3.6 Competition review
3.7 Porter’s analysis
3.8 Raw material analysis
3.9 PESTEL analysis
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