North America 2027 powder coatings market value of $3.4 billion metal substrate consumption is the largest

Due to its wide range of applications, the North American powder coatings market share is likely to grow steadily. The North American powder paint market is expected to reach $3.4 billion by 2027, according to a recent study by market Research firm Graphical Research.

Due to the increasing per capita income of the population, the demand for automobiles in North America has increased significantly. More middle-class families are splurging on luxury cars and bicycles. These vehicles require a strong protective coating to protect against scratches and dust and are required to provide a higher appearance, which will increase the demand for powder-coated services.

The North American powder coatings market for thermosetting resins is likely to grow at a CAGR of 5.5% by 2027. Thermosetting coatings such as polyester, epoxy, acrylic, polyurethane and epoxy polyester can be used in a variety of powder coating operations because they provide a highly durable and attractive surface layer.

These resins are also used to make lightweight industrial components. In addition, they are also widely used in the automotive sector to produce components such as wipers, horns, door handles, rims, radiator grilles, bumpers and metal structural parts, thus positively influencing their demand.

North American powder coating applications accounted for $840 million worth of the common metals industry in 2020. Powder coatings are widely used to coat a variety of metals, including bronze, brass, aluminum, titanium, copper, and different types of steel, such as stainless steel, galvanized, and anodized.

The local outbreak had an adverse impact on forecasts for the North American powder coating industry, which was hit hard in the first half of 2020 as the number of people buying cars dropped sharply due to strict government lockdowns and movement restrictions imposed to curb the spread of the virus. It ultimately had a negative impact on the production and demand of powder coatings. However, as current conditions continue to improve, sales of powder coatings are likely to soar in the coming years.

Metal substrates are expected to account for $3.2 billion of the North American powder coatings market by 2027. Metal substrates are in high demand in a number of industries including medical, automotive, agriculture, building and construction.