Powder Coatings Market - Forecast (2020 - 2025)

What is Generalized Anxiety Disorder?

Anxiety disorders are characterized by uncontrollable worry about daily events in a person’s life. The different kinds of anxiety include generalized anxiety disorder, panic disorder, specific phobias, agoraphobia, social anxiety disorder and separation anxiety disorder.

Generalized anxiety disorder (GAD) includes certain symptoms such as headache, tension, profuse sweating and tiredness. It has been observed that GAD occurs along with other anxiety disorder and depression. A large number of factors are responsible for the occurrence of GAD such as genetics, brain chemistry, and exposure to stressful event, family background, or life experiences.

This report incorporates an in-depth assessment of generalized anxiety disorder market by therapeutics type, therapies, devices and geography.

Market Research and Market Trends of Generalized Anxiety Disorder:

Fisher Wallace Simulator, an FDA-approved neurostimulation device to help treat depression, anxiety and insomnia. It is headband like device which stimulates the brain to release certain hormones such as dopamine which is known to reduce stress. Fisher Wallace Stimulator makes it possible to sit at home and engage in neurostimulation therapy. This can help patients to be naturally treated with the same effect as that of an antidepressant.

Scientists are currently working on finding the biomarkers that will categorize anxiety disorders more accurately. This data would help to understand the response of each drug to a particular disorder and thus could help to push therapeutic research forward driving the market during the forecast period.

Aloradine, a nasal spray-delivered agent, has a novel mechanism of action that stimulates nasal chemoreceptors. This transmits messages rapidly to the brain’s limbic system, amygdala and hypothalamus directly modulating brain autonomic, psychophysiological, and neuroendocrine responses and reducing stress and anxiety. This drug can be self-administered using a simple, low-cost device.

Currently, there is a lot of research going on to qualify a probiotic as a psychobiotic which would specifically provide mental health benefits. The effect of psychobiotic in the intestine would be conveyed to the brain and the other organs by the vagus nerve which is known to have a link between the nervous system and the digestive system.

Who are the Major Players in Generalized Anxiety Disorder market?

The companies referred to in the market research report include GlaxoSmithKline Pharmaceuticals Limited, Bristol-Myers Squibb, Sumitomo Dainippon Pharma, Noven Pharmaceuticals, Inc., Actavis Pharmaceutical Company, F. Hoffmann-La Roche, Abbott Laboratories, Eli Lilly and Company, Pfizer Inc., Shionogi and Company

What is our report scope?

The report incorporates in-depth assessment  the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis  so on to gauge the impact forces  potential opportunities  the market. Apart from this the report also includes a study  major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers  so on to comprehend the prevailing market dynamics at present  its impact during the forecast period 2018-2024.

Key Takeaways from this Report

Global Powder Coatings Market: Demand Analysis

As per the World Health Organization, lead paint is a major contributor for lung cancer related deaths in the world. In a 2013 report printed in United Press International, World Health Organization estimated a staggering 600,000 disabilities each year due to lead present in paints. Inadvertently, the need for a more cost-effective, yet environmentally safe method for metal finishing had become the need of the hour. The world has now progressed in this field to using more environment-friendly industrial finishing techniques, with primary one being powder coatings process. The powder coatings market bloomed first in North America in early 1960s, and the products have now transformed into a convenient replacement for traditional industrial finishing methods.

Very similar to a conventional painting technique, the powder coating method involves usage of a dry powder which is composed of resins and pigments. The powder instantly sticks to a metal component due to the electrostatic charge present in it. According to the North American organization called Powder Coating Institute, 15% of the industrial finishing market uses powder in some form or another. Most companies are now opting for this method instead of any other kind of industrial finishing method on account of its durability, and high quality. Powders used in the process are also available in inexhaustible numbers based on color, and textures.

A recent IndustryArc report suggests noticeable growth in the powder coatings market size. In the year 2018, the report estimates the global powder coatings market to be worth $10,600 million, and projects the value to increment at a notable CAGR of 6.1% during the forecast period of 2019 to 2025. The analyst of the report highlights that the Asia Pacific region is taking the charge in expanding the market size, and generating more market revenue.

Powder Coatings Market

Global Scenario Favors Powder Coatings Market Growth

An ever-increasing health risk associated with being exposed to paints, especially those which contain lead in them, led World Health Organization partner up with United Nations Environment Programme in order to form a cooperative initiative called Global Alliance to Eliminate Lead Paint. The Alliance has vowed to eliminate complete usage of lead paint in 70 countries by the year 2050, and has been encouraging industries to use powder coatings process actively in their general metal finishing activities.  This factor is expected to be a strong driver of the global powder coatings market growth.

Workers working in the painting industries are at an increased risk for cancer, and other diseases that can prove fatal. Operations that involve manual handling like implementing spray paints make painters, and other construction workers prone to inhaling paints, or coming in direct contact via skin. Constant analysis has shown that paints have the power to be present in blood, and urine once they enter inside the human body. Powder coating process on the other hand is extremely environment-friendly as it does not release any Volatile Organic Compounds (VOC) into the atmosphere. The powders used are also free from any hazardous air pollutants. This very fact has helped in accentuating powder coatings market growth. The carbon footprint offered by powder coatings method is almost negligible as compared to paints that contain toxic solvents.

The number of ways in which powder coating can one day completely replace painting are umpteen. The durability of wet painting, and plating is quite weak when compared to a dense, long-lasting texture offered by powder coating process. This makes powder coating a winner in everyone’s eyes, and is largely preferred by nearly all metal industries now. This process requires little or no heating as compared to plating which requires heavy usage of an oven. There is no drying time involved in powder coating process either, which again saves on time, manpower, and costs. The Powder Coating Institute also explains how powder coating process requires minimal training, with hardly any product rejects. Governments also do not interfere much in the powder coatings market revenue by imposing any bans or restrictions.

Powder Coatings Market: Global Competitors

Some of the major competitors in the powder coatings market are AkzoNobel NV, PPG Industries Inc., Jotun Powder Coating, Axalta coating systems LLC, Evonik Industries, Asian Paints Limited, The Sherwin -Williams Company, and Kansai Paints Company Ltd. Most of these companies are innovating in the field of industrial finishing that involves paints, plating, and powder coating. Asian Paints Limited, for example, is a significant player in the Indian industrial finishing market. They have come up with two powder coatings brands titled ‘Apcoshield’ and ‘Hawcoplast’ for the Indian market which are set to influence the environment in a positive manner. PPG Industries Inc. on the other hand is a key player in the global field of industrial finishing. Every year they come up with a Sustainability Report that lists out how their products are impacting the environment, cultivating growth of business, satisfying clients, and engaging communities. This helps in proper market analysis, and improves market outlook.

Powder Coatings Market: Disruptive Trends

Since powder coating method is largely preferred by nearly all the industries, the market is buzzing with disruptive trends, and innovations. One of the most prominent trends is the use of powder coating method in finishing plastic materials. It is a bit of a challenge but the use of adhesive plastics makes the task easier. Another trend that the analyst sees now is the usage of powders made out of renewable resins. These are derived from materials like soybean oil, corn, and sugar. Many companies are also introducing different colors in the powders, ones that haven’t been seen before in order to attract a larger customer base.

Powder Coatings Market Segments

• The global powder coatings market can be segmented into resin type, application, region, and substrate. Based on substrate, the powder coatings market can be divided into metal, and non-metal. The underlying layer defines the kind of powder used for coating. On the basis of application, the powder coatings market can be bifurcated into automotive and transportation, architectural, furniture, consumer goods, etc. On the basis of resin type, the market can be bifurcated into thermoplastic like polyester, polyurethane, polyester-epoxy, and thermoset. Since Asia Pacific region is booming in industries, and manufacturing, it is leading in powder coatings market. According to IndustryArc, the Asia Pacific powder coatings market generated nearly 49% of the global demand in 2018, and its prosperity will remain unmatched by other regions in the near future too.

• The powder coatings market is an imperative solution to lead paints, and the environmental and health risks associated with it. Industries now prefer the use of powder coatings on nearly every product owing to its durability, and the dense coating that it provides. The time isn’t far away when we will see powder coatings market completely take over the industrial finishing market for good.

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