Global Powder Coatings Market is Expected to Reach USD 10.5 Billion in 2018: Transparency Market Research
(PRWEB) May 20, 2013
In terms of revenue, the market was valued at USD 6.5 billion in 2011 and is expected to reach USD 10.5 billion in 2018, growing at a CAGR of 7.2 percent from 2012 to 2018. Developing economies of BRICS members has led to an increasing demand for consumer goods such as appliances, automobiles and furniture. In addition, support for the use of powder coatings by authorized environmental agencies such as EPA and REACH is another major factor responsible for the growing demand for powder coatings.
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However, powder coatings have a few application and design difficulties such as application of very thin coats, thin films inside corners and uneven thickness of coating at edges. In addition, pigmented powders cannot be blended to form different colors. These factors are expected to hamper the growth of the powder coatings market over the forecast period.
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Appliances were the largest application segment for powder coatings, accounting for over 20 percent of the consumption in 2011. Powder coatings demand from automotives is expected to grow at a CAGR of over 7 percent during the next five years due to the rising demand of automobiles, both in terms of original equipment as well as spare parts across the world.
Asia Pacific is the largest and fastest growing market for powder coatings, consuming over 700 kilo tons of powder in 2011. Emerging end user industries in economies such as Brazil and South Africa are expected to further add to the demand for powder coatings.
Browse the full report with TOC at http://www.transparencymarketresearch.com/powder-coatings-market.html.
Key participants in the powder coatings market include AkzoNobel, PPG Industries, Sherwin - Williams, DuPont, BASF and Valspar among others. The report profiles the above mentioned companies along with their detailed market share analysis.
The report also includes a comprehensive analysis of the powder coatings market in terms of volume and revenue. In addition, the study covers the demand forecast of each application in various regions such as North America, Europe, Asia Pacific and Rest of World.
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