Global Powder Coatings Market is Expected to Witness a Massive Surge as Akzo Nobel NV acquires Turkey’s Leading powder Coating Joint Venture Akzo Nobel Boya Sanayi ve Ticaret A.S.

Powder Coatings Market


 Powder coating is a solid, dry powder form that is applied directly as a dry powder to standard or customized metal substrates such as stainless steel, aluminum, copper, brass, bronze, melamine, zinc, and more. Unlike traditional liquid paint that is applied via evaporation of the solvent, powder coat is usually applied electrostatically with an ultraviolet light or steam vacuum and cured under pressure.

Increasing expenditure on construction activities is expected to drive growth of the global powder coatings market. The construction sector in both developed and emerging economies have witnessed massive growth over the years. According to the India Brand Equity Foundation (IBEF), India is expected to become the world’s third-largest construction market by 2022. According to the same source, India plans to spend around US$ 1.4 trillion on infrastructure projects through the National Infrastructure Pipeline (NIP) from 2019 to 2023. Powder coatings have a wide range of applications in construction sector where they are used for door handles, window handles, and other powder-coated parts. Thus, these factors are expected to drive growth of the global powder coatings market. Furthermore, growing emphasis on VOC emission reduction is expected to boost the global powder coatings market growth in the near future. 

However, high energy consumption and investments in machine tools combined with environmental challenges are expected to hinder the global powder coatings market growth. Besides, increasing use of powder coatings in automotive industry and the emergence of new application methods can present significant business opportunities for market players in the near future. Among regions, Asia Pacific is expected to witness significant growth in the global powder coatings market. This is owing to favorable government regulations and rising foreign direct investments (FDI) across emerging economies such as India, China, South Korea, Japan, and Indonesia. Furthermore, Europe is expected to register a lucrative growth rate, owing to growing automobile production in Romania, Hungary, Germany, and the U.K. 

Key companies operating in the global powder coatings market are Akzo Nobel NV, The Sherwin-Williams Company, Asian Paints, Berger Paints India Limited, Dulux Powder & Industrial Coating, Nippon Paint Holdings Co., Ltd., Cromology, DAW SE, Kansai Paint Co. Ltd, Jotun Powder Coatings, Dupont Coating & Colour Technologies Group, Brillux GmbH & Co. KG, Axalta Coating Systems, and BASF SE.

For instance, in March 2020, Akzo Nobel NV, a Dutch performance coatings provider, acquired Akzo Nobel Boya Sanayi ve Ticaret A.S., a leading powder coatings joint venture in Turkey.

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