San Francisco, 12 December 2018: The Report Powder Coatings Market Analysis By Resin Type (Epoxy, Polyester, Epoxy-Polyester,
Acrylic, Polyurethane), By Application (Consumer Goods, Automotive,
Architectural, General Industries, Furniture) And Segment Forecasts To 2024
According to a report
published by Grand View Research, Inc.; the powder coatings market is expected
to reach a valuation of around 16.55 billion by 2024.
Rising applications in
numerous sectors including automotive, industrial, and construction will
augment market growth over the forecast period (2013 to 2024).
Rising utilization in doorframes,
windows, building facades, bathroom, electrical fixtures, and kitchen can have
positive outlook for the market.
 |
| Powder Coatings Market |
Enviro-friendly nature of
these coatings due to their solvent free characteristics that leads to minimal
volatile organic compounds (VOC) emissions is fueling the market growth. Advantages
of these coatings over traditional wet paint systems such as controlled film
thickness and easy refinement of poorly coated sites are likely to drive the
market in the coming years. These coatings offer several advantages such as
greater performance, low operational costs, and wide color range coupled with
antibacterial and anti-corrosion characteristic. Therefor widely utilized in
automotive industry.
Access Research Report of Powder Coatings Market@ www.grandviewresearch.com/industry-analysis/powder-coatings-market-analysis
However, associated issues
related to high energy consumption is anticipated to restrain the market growth
over the forecast period.
Worldwide power coatings
market can be segmented on the basis of resin type, application, and region.
Based on resin type, the
market can be categorized into polyester, epoxy, epoxy-polyester (Hybrid),
polyurethane, acrylic, and others.
In 2015, the polyester segment
captured 32.3% of the overall volume due to its associated properties such as UV
resistance, high weathering, and exterior durability. Increasing demand for
several applications such as wipers, horns, radiator grills, wheel rims, door
handles, bumpers, bicycle, and metallic structural component will drive the
segment growth.
The epoxy-polyester segment is
likely to show the fastest volume growth at a CAGR of 8.1% during 2016 to 2024 due
to growing application in machines, domestic appliances, equipment, general
industries, and decorative devices.
As per application, the market
can be bifurcated into consumer goods, architectural, general industries,
automotive, furniture, and others.
In 2015, The consumer goods segment
was accounted for the major revenue share and reported for 22.7% of the total
size.
The automotive segment is
expected to grow with rapid space in terms of volume at a 7.6% CAGR during 2016
to 2024 due to rise in vehicle production in Germany, Malaysia, Brazil, and China
along with high demand of high-end cars.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Geographically, the market can
be divided into North America, Europe, Asia Pacific, Latin America, and Middle
East and Africa.
In 2015, Asia Pacific was the
leading market and estimated for 47.3% of the overall volume. The region is
also expected to show significant growth in coming years on account of growth
of the automotive and electronic industries in countries including Thailand,
China, Taiwan, South Korea, and India. Increasing disposable income along with the
escalating population has increased the demand for furniture, industrial and
household appliances, electronics, agricultural equipment, and automobiles,
which will boost the market growth. high demand for consumer goods such as refrigerators
and washing machines in countries including China, India, Thailand, and
Philippines are also expected to increase application scope for powder
coatings.
Middle East and Africa is likely
to expand at a CAGR of 7.5% during 2016 to 2024 due to increasing demand for
passenger and commercial vehicles in Middle East and increasing expansion of road
networks, specifically in Saudi Arabia.
In 2015, market in North
America was valued at USD 1.79 billion and anticipated to show remarkable
growth due to increasing demand for soccer goals, basketball backstops, golf
courts, sports bicycles, cafeteria tables, and lockers. Flourishing automotive
industry in the U.S. along with rising concern about VOC emissions due to use
of solvent-borne coatings through manufacturing process is likely to increase
demand for these coatings.
In terms of revenue, Latin
America is anticipated to grow at a CAGR of 7.5% from 2016 to 2024 due to
existence of major players and growth in sales of automotive vehicles in countries
including Argentina, Columbia, and Brazil.
Leading companies operating in the market include IGP
Pulvertechnik AG, TCI Powder Coatings, Axalta Coating Systems, Valspar Corporation,
and Nippon Paint. Major companies are constantly concentrating on product innovation
to gain traction in the market.
Access
Press Release of Powder Coatings Market@ www.grandviewresearch.com/press-release/global-powder-coatings-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, 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
healthcare.
No comments:
Post a Comment