The global powder coatings market is expected to reach USD 16.55 billion by 2024, according to a new report by Grand View Research, Inc. Increasing demand owing to high variation in texture, color & coating thicknesses along with their enhanced durability will augment market growth over the next eight years.
Increasing use of powder coatings for aluminum extrusion used in windows, doorframes, building facades, kitchen, bathroom and electrical fixtures will fuel industry expansion. Rising construction spending in various countries including China, the U.S., Mexico, Qatar, UAE, India, Vietnam, and Singapore will fuel growth over the forecast period. Increasing government support for eco-friendly and economical products will stimulate demand over the forecast period.
General industries were the prominent application segment and accounted for 20.7% of the global volume in 2015. Increasing demand for tractors in the U.S., Brazil, Japan, India, and China is expected to augment the use of powder coatings on account of its corrosion protection, excellent outdoor durability, and high-temperature performance. Moreover, growing usage in agricultural equipment, exercise equipment, file drawers, computer cabinets, laptop computers, cell phones, and electronic components will propel industry expansion.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/powder-coatings-market-analysis
Further Key Findings from the report suggest:
·
Epoxy-polyester hybrid powder coatings will
witness the fastest volume growth at a CAGR of 8.1% from 2016 to 2024 as a result
of its increasing application in domestic appliances, machines, equipment,
decorative devices and general industries. Furthermore, superior properties
including greater resistance to yellowing during cure, better transfer
efficiency, and cleaner, brighter colors than many epoxy formulations are
expected to stimulate industry growth.
·
North America market was valued at USD 1.79
billion in 2015 and will show significant rise owing to growing demand for
soccer goals, golf courts, basketball backstops, lockers for players, cafeteria
tables, and sports bicycles. Growing automotive industry in the U.S. and rising
concern over VOC emissions from solvent-borne coatings during production is
expected to propel powder coatings demand.
·
Latin America will witness significant revenue
growth at a CAGR of 7.5% from 2016 to 2024 in light of the presence of major
players including BASF, AkzoNobel, and Sherwin-Williams along with increasing
automotive vehicle sales in Argentina, Brazil, and Columbia.
·
Key participants include PPG Industries,
AkzoNobel, Sherwin-Williams, Axalta Coating Systems and BASF, together
accounting for over 35.0% of the global market share in 2015. Other prominent
players include Valspar Corporation, Nippon Paint, Kansai Paint, and Jotun.
·
Companies are focused on increasing their
footprint within the global powder coating industry through constant
product innovation. For instance, in September 2014, Sherwin-Williams launched
polyester resin powder coatings “Powdura Sprint” for medium density fiberboard
(MDF). In March 2015, AkzoNobel launched ultra-reflective powder coating
“Interpon ReFlex”, which increases the output of commercial lighting fixtures
up to 30%.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the global powder coatings market on the
basis of resin type, application and region:Resin type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
·
Epoxy
·
Polyester
·
Epoxy-Polyester (Hybrid)
·
Acrylic
·
Polyurethane
·
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 -
2024)
·
Consumer goods
·
Architectural
·
Automotive
·
General Industries
·
Furniture
·
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 -
2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
o
Italy
o
Russia
·
Asia Pacific
o
China
o
Japan
o
India
o
Thailand
·
Latin America
o
Brazil
·
MEA
For press release of this report - http://www.grandviewresearch.com/press-release/global-powder-coatings-market
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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