The global powder coatings equipment market is expected to
reach USD 2.14 billion by 2024, according to a new report by Grand View
Research, Inc. The market is expected to witness significant gains over the
forecast period on account of increasing usage of powder coatings in
automotive, consumer goods, architectural, furniture, general industries and
defense applications.
Rising demand for
furniture and other architectural products such as windows and aluminum
extrusions are expected to increase the industry size over the next eight
years. Manufacturers are offering coatings booth made up of 18-gauge galvanized
metal, for improving durability as well as reduce costs associated with
installation.
Powder coat guns are
expected to witness significant growth at a CAGR of 7.5% owing to its benefits
including lightweight and easy color change. Furthermore, consumption of guns
for spraying of powder coatings on metals, ceramics, glass and plastic surfaces
is likely to augment demand over the upcoming years.
Access Research Report of Powder Coatings Equipment Market @ https://www.grandviewresearch.com/industry-analysis/powder-coatings-equipment-market
Further key findings from the report suggest:
· Automotive accounted for 20.8% of the
overall industry share in 2015 and is likely to witness the fastest growth over
the forecast period. This trend is expected to continue on account of rising
requirements of powder coatings for a broad range of applications including
bodywork, trim, aluminum wheels, and in-mold light weight components.
· The presence of various automotive players
including Ford, General Motors, Chevrolet, Mercedes-Benz and Dodge is expected
to fuel the product demand over the upcoming years.
· MEA accounted for 5% of the global share in
2015 and is projected to witness gains in light of the growth of the
construction sector especially in Qatar and UAE. Furthermore, this scenario is
likely to be supported due to certain factors such as advanced real estate
regulatory framework, economic recovery, and increasing infrastructure project
in the region.
· The market is fragmented in nature with a
large number of players present in the U.S., Switzerland, and India. Key
players include Nordson Corporation, Gema Switzerland GmbH, WAGNER, Parker
Ionics, Red Line Industries Limited, Reliant Finishing Systems, Carlisle,
Hangzhou Color and Oven Empire Manufacturing.
· Companies are focusing on product
innovation to increase their presence in the global market. For instance, in
October 2016, Gema Switzerland GmbH launched MultiColor Super-fast color change
solution that maximizes the flexibility and productivity of the coatings line
and avoids idle times.
· In November 2013, Nordson Corporation
launched Encore HD Automatic Powder Spray Gun which is “softer” and offers even
charged powder cloud for optimum transfer efficiency.
· Development of new glass booth coupled with
ongoing product innovation to increase durability and reduce associated cost
will propel equipment growth. Furthermore, growing DIY equipment will create
immense market potential over the forecast period.
Grand View Research has
segmented the global powder coatings equipment market on the basis of product,
application and region:
Powder Coatings Equipment Product Outlook (Revenue, USD
Million, 2013 - 2024)
·
Ovens & booths
·
Powder coat guns
·
Others
Powder Coatings Equipment Application Outlook (Revenue,
USD Million, 2013 - 2024)
·
Consumer goods
·
Architectural
·
Automotive
·
General industries
·
Furniture
·
Others
Powder Coatings Equipment Regional Outlook (Revenue, USD
Million, 2013 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
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.
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