Powder Coatings Market Opportunities To Reach $16.55 Billion By 2024

San Francisco, 11 December 2018 - 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.

U.S. powder coatings market volume, by applications, 2013 - 2024 (Kilo Tons)
powder-coatings-market-analysis

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.
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.

Browse Research Report On Powder Coatings Market :
www.grandviewresearch.com/industry-analysis/powder-coatings-market-analysis

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.
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.

View more reports of this category by Grand View Research atwww.grandviewresearch.com/industry/paints-coatings-and-printing-inks

Grand View Research has segmented the global powder coatings market on the basis of resin type, application and region:

Resin type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
  • Epoxy
  • Polyester
  • Epoxy-Polyester (Hybrid)
  • Acrylic
  • Polyurethane
  • Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
  • Consumer goods
  • Architectural
  • Automotive
  • General Industries
  • Furniture
  • Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2024)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • Thailand
  • Latin America
    • Brazil
  • 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.

For More Information: www.grandviewresearch.com

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