Global Thermoplastic Powder Market: Overview
Thermoplastic powders are used for powder coating. These powders are gradually replacing the traditional paints due to characteristics such as high adhesiveness to substrates and high resistance to corrosion and scratches. Thermoplastic powders offer long lasting, economical, and durable quality finish for metal parts and products.
The global thermoplastic powder market is primarily driven by the significant features of these powders over traditional paints. Thermoplastic powder provides thicker coating, high temperature and chemical resistance, low toxicity, etc. It is also recyclable. This is driving consumer attractiveness toward thermoplastic powder, thereby fueling the global market. Thermoplastic power coating offer higher resistance to any disparity between environmental forces of nature. Furthermore, thermoplastic power is being used in various industry verticals such as automotive, aerospace and defense, construction, and outdoor lighting due to its eco-friendliness and low toxicity. Light poles, traffic signal poles, and circuit breaker panels that proliferate the city landscape are coated in thermoplastic coatings. Thus, thermoplastic power is used in many industries. This is expected to propel the demand for thermoplastic powder during the forecast period.
Global Thermoplastic Powder Market: Key Segments
The global thermoplastic powder market can be segmented based on material, end-use industry, and geography. Based on material, the global thermoplastic powder market can be divided into polyethylene, polypropylene, nylon, PVC, and others. In terms of end-use industry, the thermoplastic powder market can be segregated into aerospace & defense, healthcare, construction, electronics & semiconductors, consumer goods, automobile, furniture, and others. Based on geography, the thermoplastic powder market can be classified into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the global thermoplastic powder market during the forecast period. This is primarily due to the rise in demand for powder coatings in manufacturing industries and the industrial sector. Countries such as China, Australia, and India in Asia Pacific are estimated to be the dominant countries of the global thermoplastic powder market.
The global thermoplastic powder market is witnessing technological advancements. Companies are constantly striving to develop new and better ways to manufacture these coatings. Development of new manufacturing processes of thermoplastic powder coating and applications is estimated to propel the thermoplastic powder market. However, threat of substitution from seamless coatings is projected to hamper the thermoplastic powder market.
Global Thermoplastic Powder Market: Key Players
Rise in competition in the market has compelled regional and international competitors to wrestle for market share. They are engaging in merger and acquisition activities and technological innovation to gain an edge over their each other. New vendors in the thermoplastic powder market are facing tough competition from established international vendors. Prominent players operating in the global thermoplastic powder market include PPG Industries, Inc., Cardinal, Akzo Nobel N.V., Hentzen Coatings, The Sherwin-Williams Company, Erie Powder Coatings, Axalta, Midwest Industrial Coatings, Inc., The Valspar Corporation, Vogel Paint, RPM International Inc., Trimite Powders, American Powder Coatings, Nortek Powder Coating, IFS Coatings, Plastic Coatings Limited, British Plastics Federation, Tecno Supply, and LIANHUI PLASTICS COMPANY LTD.
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