Powder Coatings Industry Growth Status, Movements by Trend Analysis, Revenue Expectation to 2028

The global powder coatings market size is slated to reach USD 18.95 billion by 2028, registering a 6.2% CAGR during the forecast period. The increasing demand for industrial equipment & machineries in the automotive, infrastructure and construction industry will have an excellent impact on the market growth, states Fortune Business Insights, in a report, titled “Powder Coatings Market, 2021-2028.” The market size stood at USD 11.58 billion in 2020 and reached USD 12.46 billion in 2021.

COVID-19 Impact:

The COVID19 outbreak halted the manufacturing of raw materials used in powder coating production. Asian nations such as India, China, Japan, Singapore, and Thailand are the primary manufacturers of these coatings and suppliers of raw ingredients. The recent coronavirus epidemic in Asia Pacific has disrupted the availability of these basic materials. China, for example, is a major resin provider, supplying one million tons of resin to the global market. The manufacture of paints and coating goods has been slowed due to a lack of raw ingredients.

What does the Report Include?

The report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected period. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. The report also provides comprehensive insights into key strategies adopted by market players such as mergers and acquisitions, partnerships, and product launches to sustain their market foothold over the projected timeframe. 

Browse Summary:

https://www.fortunebusinessinsights.com/powder-coatings-market-102139