CHICAGO, Feb. 25, 2021 /PRNewswire/ -- According to the new market research report "Metallic Powder Coatings Market by Process Type (Bonding, Blending, Extrusion), Pigment Type (Aluminum, Mica), Resin Type (Polyester, Hybrid, Epoxy, Polyurethane, Others), End-use Industry, and Region - Global Forecast to 2025", published by MarketsandMarkets, the global Metallic Powder Coatings Market size will grow to USD 3.3 billion by 2025 from USD 2.3 billion in 2020, at a CAGR of 7.5% during the 2020-2025 period. The market trend is attributed to the continued growth of the architectural industry, which is the largest consumer of metallic powder coatings.
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Polyester is projected to be the largest resin type of the metallic powder coatings market.
Polyester is the largest resin type in matllic powder coatings market in terms of volume. Polyesters are the most commonly used powders and offer great value for money. The two most widely used types of polyester powder are TGIC (tri glycidyl isocyanurate) and non-TGIC, which is also known as TGIC-free or sometimes a 'Primid'. Both TGIC and TGIC-free polyesters offer good mechanical resistance, including great flexibility and impact and good chemical resistance.
Aluminum is the fastest-growing pigment type of the metallic powder coatings market.
Aluminum is the fastest growing pigment type in metallic powder coatings market, in terms of volume. Aluminum pigments that are used for general applications have a basic encapsulation that assists in weathering and chemical resistance. Aluminum flakes are widely used in all coating types because of their brightness, opacity, durability, and formulation flexibility. Aluminum flakes, however, require specific handling and storage techniques to maximize their appearance and for safe usage.
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APAC is the largest metallic powder coatings market globally.
APAC is projected to lead the metallic powder coatings market during the forecast period. The developing countries of APAC, such as China, Japan, India, Indonesia, Malaysia, the Philippines, are focusing on the construction of new residential and commercial buildings, and this is expected to increase in the future. Factors such as advances in civil construction and the high demand for efficient paints drive the architectural powder coatings market. The leading players in the paints & coatings market have a strong presence in APAC and continue to invest in organic growth, such as through joint ventures and licensing agreements.
The key players operating in the market are AkzoNobel N.V. (Netherlands), Axalta Coating Systems, LLC (US), Jotun A/S (Norway), PPG Industries (US), The Sherwin-Williams Company (US), and Tiger Coatings GmbH & Co. KG (Austria).
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