San Francisco, CA (PRWEB) August 26, 2014
The global market for powder coating is expected to reach USD 12.48 billion by 2020, according to a new study by Grand View Research, Inc. Growing support for the use of powder coatings in comparison to conventional liquid paints by regulatory agencies such as EPA and REACH on account of negligible VOC emissions is expected to be a key driver for market growth. In addition, growing application demand with regard to automotive, appliances and consumer goods is also expected to drive powder coating sales over the next six years.
Consumer goods are the largest application market for powder coatings, with an estimated consumption of 437.3 kilotons in 2013. Automotive and general Industries were the key application markets, with combined powder coating sales expected to reach USD 5.11 billion by 2020. Powder coating demand in furniture was relatively small in 2013 but is expected to witness substantial growth of over 7.6% from 2014 to 2020.
The report “Powder Coatings Market Analysis By Application (Automotive, Consumer Goods, General Industry, Architectural, Furniture) And Segment Forecasts To 2020,” is available now to Grand View Research customers and at http://www.grandviewresearch.com/industry-analysis/powder-coatings-market-analysis.
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the powder coatings market on the basis of application and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
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