The global powder coatings equipment market is expected to reach USD 2.14 billion by 2024, according to a new report by Grand View Research, Inc. The market is expected to witness significant gains over the forecast period on account of increasing usage of powder coatings in automotive, consumer goods, architectural, furniture, general industries and defense applications.
Rising demand for furniture and other architectural products such as windows and aluminum extrusions are expected to increase the industry size over the next eight years. Manufacturers are offering coatings booth made up of 18-gauge galvanized metal, for improving durability as well as reduce costs associated with installation.
Powder coat guns are expected to witness significant growth at a CAGR of 7.5% owing to its benefits including lightweight and easy color change. Furthermore, consumption of guns for spraying of powder coatings on metals, ceramics, glass and plastic surfaces is likely to augment demand over the upcoming years.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/powder-coatings-equipment-market
Further key findings from the report suggest:
·
Automotive accounted for 20.8% of the overall
industry share in 2015 and is likely to witness the fastest growth over the
forecast period. This trend is expected to continue on account of rising
requirements of powder coatings for a broad range of applications including
bodywork, trim, aluminum wheels, and in-mold light weight components.
·
The presence of various automotive players
including Ford, General Motors, Chevrolet, Mercedes-Benz and Dodge is expected
to fuel the product demand over the upcoming years.
·
MEA accounted for 5% of the global share in 2015
and is projected to witness gains in light of the growth of the construction
sector especially in Qatar and UAE. Furthermore, this scenario is likely to be
supported due to certain factors such as advanced real estate regulatory
framework, economic recovery, and increasing infrastructure project in the
region.
·
The market is fragmented in nature with a large
number of players present in the U.S., Switzerland, and India. Key players
include Nordson Corporation, Gema Switzerland GmbH, WAGNER, Parker Ionics, Red
Line Industries Limited, Reliant Finishing Systems, Carlisle, Hangzhou Color
and Oven Empire Manufacturing.
·
Companies are focusing on product innovation to increase
their presence in the global market. For instance, in October 2016, Gema
Switzerland GmbH launched MultiColor Super-fast color change solution that
maximizes the flexibility and productivity of the coatings line and avoids idle
times.
·
In November 2013, Nordson Corporation launched
Encore HD Automatic Powder Spray Gun which is “softer” and offers even charged
powder cloud for optimum transfer efficiency.
·
Development of new glass booth coupled with
ongoing product innovation to increase durability and reduce associated cost
will propel equipment growth. Furthermore, growing DIY equipment will create
immense market potential over the forecast period.
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 equipment market on the basis of product, application
and region:
- Powder Coatings Equipment Product Outlook (Revenue, USD Million, 2013 - 2024)
- Ovens & booths
- Powder coat guns
- Others
- Powder Coatings Equipment Application Outlook (Revenue, USD Million, 2013 - 2024)
- Consumer goods
- Architectural
- Automotive
- General industries
- Furniture
- Others
- Powder Coatings Equipment Regional Outlook (Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- Latin America
- Brazil
- MEA
No comments:
Post a Comment