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Follow on Google News | World Powder Coatings Market to Reach $12,332 Million, by 2022According to a new report published by Allied Market Research, titled, "World Powder Coatings Market - Opportunities and Forecasts, 2014–2022," the powder coatings market is expected to generate $12,332 million by 2022.
By: Allied Market Research The demand for powder coatings has increased owing to growing technological advancements and increasing demand from applications, namely, architectural; Significant drivers of the market include increasing adoption of powder coatings over liquid coatings, supporting environmental regulations, increasing demand for appliances, booming construction industry, and rapid economic growth in emerging countries. However, difficulty in the application of thin coats is expected to impede this growth. In the year 2015, thermoset powder coatings segment occupied a dominating position as it provides superior finish with excellent durability that reduces the maintenance and prolongs the shelf life of the coated products. Moreover, stringent regulations have led to increased penetration of powder coatings over liquid coatings. Powder coating overspray can be recycled and reused, which means 100% coating material can be utilized. Powder coatings in appliances application segment occupied around one-fourth of the total market in 2015 and is expected to continue the same trend throughout the forecast period. Electrostatic spray is the most adopted coating technique as it enables coating of intricate shapes and does not require preheating of components. This segment is expected to continue its dominance throughout the forecast period. Read more details of the report at: https://www.alliedmarketresearch.com/ Key findings of the study · The appliances application segment occupied the highest share in 2015 and is expected to grow with a CAGR of 6.7%, in terms of volume. · Electrostatic spray technique was the dominant segment in 2015 and is anticipated to maintain its lead in the powder coatings market. · The thermoset segment is expected to expand with the highest CAGR of 6.4%, in terms of volume. · China is the leading consumer of powder coatings in the Asia-Pacific region followed by India. · The furniture application is projected to be the fastest growing segment. Asia-Pacific accounted for more than half of the total powder coatings market in 2015 and is expected to maintain its lead position throughout the forecast period. This is attributable to the increasing domestic production of automotive, appliances, and growing construction industry. In Asia-Pacific, China is the fastest growing country for the consumption of powder coatings and is expected to continue this dominance during the forecast period in terms of both, volume and revenue. The prominent players profiled include BASF SE, Akzo Nobel N.V., Kansai Nerolac Paints Limited, Axalta Coating Systems, PPG Industries, Berger Paints, IFS Coatings, Tiger Coatings, The Valspar Corporation, and Sherwin Williams. End
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