According to the new research report “Powder Coatings Market by Resin Type (Epoxy, Epoxy-Polyester Hybrid, Polyester, Acrylic, Polyurethane, & Others) and by End-User Industries (Architectural, Appliances, Automotive, General Industrial, Furniture & Others) - Global Forecast to 2019”, report analyzes the global powder coating market with respect to market drivers, restraints, and opportunities in different regions.
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The global powder coatings market is successfully penetrating the end-user industries. The end products are tailor-made as per the requirements of the end-user industries. The Asia-Pacific region is the fastest-growing segment of the global powder coatings market. This growth is mainly attributed to high economic growth rate followed by heavy investment across industries, such as automotive, consumer goods & appliances, building & construction, and furniture. The Asia-Pacific and RoW markets are estimated to grow in the next five years while the allied industries are projected to stabilize the overall business need in the respective regions.
R&D is a key part of this market. The manufacturing companies, associations, and end-product manufacturers infuse high investments for future advancements and technology modifications of powder coatings to replace other solvent borne coating and match the new demands coming from various types of applications.
Asia-Pacific is the largest market, both in terms of volume and value, followed by Western Europe. China, Japan, Thailand, U.S., Germany, India, Brazil, and Russia are projected to continue being successful powder coating markets. The key players in this market are Akzonobel N.V. (Netherlands), Asian Paints Limited (India), Axalta Coating Systems LLC (U.S.), BASF SE (Germany), Jotun A/S (Norway), Kansai Paint Company Limited (Japan), PPG Industries, Inc. (U.S.), The Valspar Corporation (U.S.), The Sherwin-Williams Company (U.S.) and Tikkurila OYJ (Finland).
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The Eastern and Central European nations, emerging Southeast Asian, and Latin American nations that will host the future global events would supplement the growth of powder coating in different applications. Governmental regulations and proposals for improvement of infrastructure, and the rising housing market in emerging economies will drive the market.
The powder coating demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, expansions, agreements, and mergers & acquisitions of the leading global companies.
The current market size of the powder coatings in terms of value was estimated to be about $8,274.26 million in 2013 and is projected to reach $12,055.13 million by 2019, growing at a CAGR of 6.54% between 2014 and 2019. The high demand across the industries, such as architectural coatings, automotive coatings, general industrial coatings, appliances coating, furniture coatings, and others will increase the overall powder coating consumption.
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