According to the research report titled ‘Europe Powder Coatings Market Size Powder Coatings Market Forecast By Substrate, Resin, Application, Application Potential, Competitive Market Share & Forecast, 2020 - 2026‘, available with Market Study Report, Europe powder coatings market is expected to surpass USD 3.4 billion by the year 2026.
 

Powder coatings have major applications as surface finishing and are applied on substrates that are under extreme weather conditions. They provide accurate film thickness and allow simplified rectification of unevenly coated areas, hence are widely used for end-use applications, which is propelling the growth of Europe powder coatings market.
 

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Based on resin type, thermoset segment held 93% share of Europe powder coatings market in the recent past, owing to its unique chemical structure and thermally stable nature after curing treatment. Thermoset plastic resins like acrylic, polyester, epoxy, polyurethane, and epoxy-polyester hybrid, are extensively used to coat appliances as they have temperature-resistant properties.
 

With respect to application scope, Europe powder coatings market share from automotive sector is expected to witness a growth rate of 8% through 2026, due to the strong export base in regions like Germany, Brazil, China, and Malaysia along with surging demand for luxury cars. Powder coatings are applied on underhood components, door handles, and rims, mainly due to preference for superior texture and finish of automobile.
 

With respect to substrates, metallic segment of Europe powder coatings industry is poised to witness CAGR of 6% during the forecast period. The coating is applied to metal components that are directly influenced by extreme climatic conditions. Raw material suppliers and coating formulators are focusing on developing powder coatings which can be applied efficiently on the metallic surfaces and have diverse range of applications.
 

Key players operating in Europe powder coatings market are Pulver Kimya, DuPont Coating & Color Technologies Group, Jotun Powder Coatings, Teknos Coating & Paints Pvt. Ltd., Dulux Powder & Industrial Coatings, Primatek Coatings, Axalta Coating Systems, AkzoNobel N.V., PPG Industries, BASF SE, Sherwin-Williams Company, ALBIXON a.s., and The Valspar Corporation.