Energy Efficient Powder Coatings Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2024 – 2032

Energy Efficient Powder Coatings Market Size

Energy Efficient Powder Coatings Market is projected to witness substantial growth between 2024 and 2032, led by higher utilization across furniture, automotive, and electronics manufacturing. The growing energy costs worldwide are propelling the demand for energy-efficient and sustainable powder coatings amidst the ongoing transition to cleaner and greener environment. Lately, low-temperature-cure powder coating technology is evolving rapidly as a result of the soaring energy prices as well as the increasing need for saving industrial and residential energy consumption. Low-cure energy-efficient powder also offers multiple benefits including zero level of solvent and VOCs, time & cost-efficiency, and higher availability in a wide variety of colors and textures.
 

As per reports, the construction spending in the U.S. rose 11.3% on a year-on-year basis in November 2023. This increasing expenditure on construction activities is expected to fuel the demand for energy efficient powder coatings for use in green buildings projects. However, limited consumer awareness, high initial investment costs, technological limitations, and regulatory hurdles may hinder the product adoption in the coming years.
 

Energy Efficient Powder Coatings Market Trends

The growing emphasis on sustainability and the rising focus of manufacturers on eco-friendly formulations and reducing carbon footprints is creating a high appeal for energy efficient powder coatings. Advancements in nanotechnology are enabling the development of coatings with enhanced energy efficiency and performance properties. The demand for innovative coatings is on the rise for offering not only energy efficiency but also durability and aesthetics. Customization and tailor-made solutions are further gaining traction, allowing coatings to serve specific customer requirements. Additionally, the rising digitalization and automation in the coating process are improving efficiency and reducing waste.
 

Energy Efficient Powder Coatings Market Analysis

Based on product, the industry share from the thermoset powder coatings segment will reflect commendable growth from 2024 to 2032, owing to the increasing demand from end-use industries, such as automotive, construction, and appliances. Significant developments in resin technologies, including epoxy, polyester, and polyurethane are enhancing the performance and energy efficiency of thermoset powder coatings. The influx of stringent environmental regulations is promoting the use of low VOC coatings. Superior durability, corrosion resistance, and cost-effectiveness of thermoset powder coatings will also attract consumers and increase the product penetration.
 

North America energy efficient powder coatings market size is estimated to grow at notable rate from 2024 to 2032, due to the stringent environmental regulations promoting the use of low VOC coatings. The increasing awareness among consumers and industries regarding the benefits of energy-efficient coatings will increase the product penetration. Rapid technological developments are also supporting the development of innovative formulations with improved energy efficiency and performance.
 

The growing emphasis on sustainability and the need to reduce carbon footprint is encouraging the adoption of eco-friendly powder coatings.  According to estimates from shopping website Edmunds, the new vehicle sales in the U.S. are estimated to rise by 1% to 15.7 million units in 2024. The proliferating sales of automobiles will increase the product appeal across the region. The robust economic growth and infrastructure development projects will also fuel the demand for energy-efficient coatings across various industries.
 

Energy Efficient Powder Coatings Market Share

Prominent companies operating within the energy efficient powder coatings industry are employing inorganic strategies, including mergers, acquisitions, and partnerships, while introducing innovative products to bolster their market presence.

Some of the leading energy efficient powder coating companies are:

• BASF SE
• AkzoNobel N.V.
• PPG Industries, Inc.
• Asian Paints Ltd.
• IGP
• Axalta Coatings Systems
• Kansai Paints
   

Energy Efficient Powder Coatings Industry News:

• In November 2023, AkzoNobel introduced its new pioneering low-energy powder coating- Interpon D1036 Low-E cured at temperatures as low as 150?C – while being?Qualicoat class.

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