Albany, New York (PRWEB) June 29, 2013
According to a new market report published by Transparency Market Research "Powder Coatings Market for Automotive, Electronics, Architectural and Industrial Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global powder coatings demand was 1,680.0 kilo tons in 2011 and is expected to reach 2,667.6 kilo tons in 2018, growing at a CAGR of 6.8% from 2012 to 2018. 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% from 2012 to 2018.
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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. 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% of the consumption in 2011. Powder coatings demand from automotives is expected to grow at a CAGR of over 7% 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 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.
Browse all market research reports: http://www.transparencymarketresearch.com/