The global market value of powder coating is estimated to be 15.7 billion US dollars in 2020

According to the latest research results, the global market size of powder coating is estimated to be about 15.7 billion US dollars in 2020 and 21.4 billion US dollars in 2025, with a compound annual growth rate of 6.3% It is pointed out that the global powder coating market has a higher development speed due to the obvious demand growth in the downstream application field, the continuous promotion of powder coating technology innovation, the economic environment of developing countries and regions, increasingly strict global environmental protection laws and regulations, the development of home appliances, automobile industry and other factors It is pointed out that the home appliance industry is the most obvious industry in the field of powder coating application in recent years Powder coating has good appearance, wear resistance, chemical resistance, temperature resistance and so on It is widely used in this industry, such as refrigerators, air conditioners, dryers, washing machines, water heaters, microwave ovens and so on Thermosetting resin is the most widely used resin in powder coating With the increase of temperature, the thermosetting powder coating is melted, leveled, crosslinked and solidified to form a reaction product with higher molecular weight The cured coating keeps good thermal stability and will not melt with the increase of temperature Moreover, the thermosetting powder coating system has strong flexibility in formulation design and is widely used in the field of decorative and functional home appliances In terms of global region, the powder coating market in Asia Pacific region is the most significant, which is benefited from the strong growth of electronic industry and automobile manufacturing industry in the region In China, Thailand, India, South Korea and other countries and regions, the population base is large, the GDP of this region accounts for more than one-third of the world, and the demand for household appliances consumer goods continues to grow, thus indirectly boosting the application demand of powder coating The main manufacturers of powder coatings in the world include: PPG in the United States, Akzo Nobel in the Netherlands, Xuanwei in the United States, Ashtar in the United States, Asian coatings in India, Nippon, BASF in Germany, Jotun in Norway, lipaimer in the United States, etc.