Powder Coating Market witness gains at over 6% CAGR from 2016 to 2024.
In addition to this, favorable sales predictions from domestic appliances like microwave ovens, washing machines and freezer cabinets is predicted to boost industry expansion. Negligible wastage is yet another aspect adding to global powder coating industry expansion as unnecessary product is gathered by extraction systems and is recycled. Raw substance also plays a vital role in industry expansion, contributing more than 40.1% of total product prices. Constant supply is predicted to lead to stable powder coating market price trend during forecast timeline.
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Global powder coating industry is segmented into applications like furniture, automotive, customer goods, architecture and industrial application.
Automotive application was projected at more than 460 kilo tons for 2015 and predicted to record CAGR of 7.5% during forecast timeline. Primary use of these application include battery trays, shock absorbers, oil & fuel filters, radiators, brake pads, wheels, engine block casings, grills, roof racks, bumpers, interior trim and door handles.
Metal cabinets which are the component of office chairs, outdoor metal furniture and shelving systems are attractive avenues for industry players. Its revenue is projected at $2.94 billion and is also predicted to record CAGR of about 7.9% during forecast timeline. Further, launch of medium density fiber board over time has widened scope of wood furniture application.
Customer goods segment contributed more than 22.1% to overall powder coating market share for 2015. Dishwashers, refrigerators, freezer cabinets, water heaters and vacuum cleaners are constant utility channels fueling industry expansion.
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Global powder coating market is segmented into key geographical locations like LATAM, MEA, North America, Europe and APAC.
North American industry contributed $1.90 billion for 2015 in terms of revenue and U.S. powder coating market contributed to 80.1% of the overall demand.
Europe powder coatings market share is projected to be 891 kilo tons by end of 2023. Main factor that is promoting the demand for powder coatings is enhanced automotive production in UK, Germany, Austria, Romania and Hungary.
APAC is the biggest regional industry, with revenue predictions of more than $3.6 billion for 2015. Strong development across customer goods, automotive sector and infrastructure is predicted to assist the demand, particularly for powder coatings industry share in India.
China powder coating market share contributed about more than 40.1% of the overall regional demand of APAC.
LATAM and MEA can offer substantial avenues for industry players in future.
Browse key industry insights spread across 200 pages with 229 market data tables & 12 figures & charts from the report, “Powder Coatings Market Size By Product (Thermoplastic and Thermoset), By Application (Architectural & Furniture, Automotive & Transportation, household appliances & consumer goods, medical & healthcare, Industrial, Others ), By Substrate (Metal and Non Metal) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key industry players profiled in the report include DIC Corporation, Bayer Material Science, Kansai Paint Company Limited, DuPont, AkzoNobel, BASF, PPG Industries, The Valspar Corporation, Sherwin-Williams, Nippon Paint Company, Jotun A/S, Axalta, Eastman Chemical Company, Royal DSM, Arkema and Evonik Industries.
• Barite Market Size By Grade (Upto Grade 3.9, Grade 4.0, Grade 4.1, Grade 4.2, Grade 4.3, Grades Above 4.3), By Color (White & off white, Grey, Brown), By Application (Oil & Drilling, Paints & Coatings, Pharmaceuticals, Rubber & Plastics, Textiles, Adhesives), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
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