According to the research report titled ‘Global Powder Coating Equipment Market Size Study by Resin (Polyester, Epoxy-polyester (hybrid), Epoxy, Acrylic, Polyurethane, Others), By Application (Consumer Goods, Automotive, Architectural, General Industries, Furniture, Others) and Regional Forecasts 2021-2027’, available with the MarketStudyReport, the global powder coating equipment market was valued at USD 11.9 billion in 2020 and is expected to generate revenues worth USD 19.4 billion by 2027, recording a 7.2% CAGR over the projection period.
 

The thriving infrastructural development and expanding investment in the automotive sector are majorly driving the global powder coating equipment market growth over the forecast period. Additionally, strict environmental regulations are also aiding towards the market expansion.
 

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For the record, powder coating is used for the protection of industrial machinery as well as everyday household products. It helps in reducing the possibility of scratches, corrosion, chipping, as well as fading and is widely adopted in automotive, consumer goods, and other industries.
 

On the contrary, fluctuating raw material prices is likely to constrain worldwide coating equipment market growth over the forecast period.
 

By resin type, the industry splits into polyurethane, acrylic, epoxy, epoxy-polyester, polyester, and others. In terms of the application scope, global powder coating equipment market is divided into furniture, general industries, architectural, automotive, consumer goods and others.
 

The regional outlook of the worldwide powder coating equipment industry includes Latin America (Mexico, Brazil), Europe (Spain, Germany, the U.K, Italy), North America (the U.S, Canada), Asia-Pacific (India, South Korea, China, Japan, Australia), and rest of the world.
 

Asia-Pacific is expected to account for the largest market share by the end of the study period, primarily due to mounting infrastructural development as well as supportive government reforms. 
 

Meanwhile, Europe market is expected to grow significantly during the study period owing to booming investment in manufacturing sector and rising awareness regarding automotive safety.
 

The major companies investing in the worldwide market are Hangzhou Color Powder Coating Equipment Co. Ltd., Asahi Sunac Corporation, Bayer AG, Arkema S.A., Valspar Corporation, Koninklijke DSM N.V., BASF SE, PPG Industries Inc., Sherwin-Williams Company, and Akzo Nobel N.V.