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Powder Coatings Market growing at a CAGR of 6.8% to Strong demand from emerging countries such as China and India

07-22-2016 02:59 PM CET | Industry, Real Estate & Construction

Press release from: marketresearchstore

Powder Coatings Market growing at a CAGR of 6.8% to Strong demand

Zion Research has published a new report titled “Powder Coatings Market for Automotive, Consumer Goods, General Industry, Architectural, Furniture and Other Applications - Global Industry Perspective, Comprehensive Analysis and Forecast, 2014-2020.” According to the report, global demand for powder coatings was valued at USD 7.5 billion in 2014, and is expected to reach USD 11.0 billion in 2020, growing at a CAGR of 6.8% between 2015 and 2020. In terms of volume, the global powder coatings market stood at 2,045.0 kilo tons in 2014.

Powder coating is applied as dry powder on the object. In powder coating, the powder paints are electrostatically applied over the object. After that it is kept in oven at high temperature so that it can flow and form even layer of coating. Powder coating offers numerous advantages including protection from corrosions, abrasion, and reaction with chemicals and other solvents. It further increases durability of the object.

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Powder coatings do not have solvents hence become environmentally sustainable and compliant industrial finishes. Strong growth in automotive industry is mainly driving demand for powder coatings. Asia Pacific region is expected to exhibit lucrative growth for powder coating industry due to rising demand for high end luxury cars. High support for the use of powder coatings over conventional materials by regulatory bodies such as EPA and REACHES is expected to drive the market growth over the forecast period. However, application and design complexity is one of the major challenges for the players of powder coating industry. Continuous innovation with powder coatings would further expand market participation opportunities.

Consumer goods application was the largest segment of global powder coating industry and accounted for around 20% share of the entire market in 2014. In addition, powder coating is expected to witness the fastest growth from the automotive application segment. Owing to the changing lifestyle coupled with rising disposable income, automotive industry is likely to grow at good CAGR in next five years.

Asia Pacific was dominating regional market for powder coatings owing to increasing demand from emerging countries such as China and India. It accounts for over 40% share of the overall market volume consumption in 2014. China accounted for largest share in volumetric consumption of powder coatings. North America and Europe are estimated to grow at sluggish rate over the forecast period.

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Some of the key players of global powder coatings market include AkzoNobel N.V., BASF, PPG Industries Inc, Valspar Corporation, Sherwin William, Evonik Industries, DuPont, Nippon Paint, Eastman Chemical Company, Arkema and Henkel.

This report segments the global powder coatings market as follows:

Powder coatings Market: Application Segment Analysis

Automotive
Consumer Goods
General Industry
Architectural
Furniture
Others
Powder coatings Market: Regional Segment Analysis

North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East & Africa
Browse the full report at http://www.marketresearchstore.com/report/powder-coatings-market-z49233

About Us

Zion Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Zion Research experienced team of Analysts, Researchers, and Consultants uses proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each Zion Research syndicated research report covers a different sector — such as pharmaceuticals, chemical, energy, food and beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports strive to serve the overall research requirement of clients.

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