Increased Consumer Purchasing Power in BRICS Creates Opportunities for AkzoNobel and Valspar in the Global Consumer Appliance Coatings Market

Mar 28, 2016, 10:00 ET from Mordor Intelligence

HYDERABAD, India, March 28, 2016 /PRNewswire/ --

Mordor Intelligence releases their report on the Global Consumer Appliance Coatings Market. The report titled, "Global Consumer Appliance Coatings Market - Growth, Trends, and Forecasts (2015-2020) " discusses the Consumer Appliance Coating Process Market across the globe.

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The global consumer appliance coatings process market includes the revenues earned from coatings, material, and equipment. The market was valued at USD 1.578 billion in 2015 and is projected to reach USD 2.198 billion, at a compound annual growth rate of 6.85% during the forecast period from 2015 to 2020. Moreover, the rising disposable income of people in the emerging economies is expected to drive the demand for the global consumer appliance market, which, in turn, will drive the demand for the consumer appliance coating products.

The report studies the market segmented by:

  • Industry application sectors - refrigerators, cooking appliance, dishwashers, washing machines, microwave & oven, and others.
  • Resin type - epoxy, epoxy PE hybrid, thermoplastics, and others.

Consumer appliance coating is a continuous process in which small ground particles of pigments and resin are charged electrostatically and sprayed on the appliances during the finishing process. The consumer appliance coatings provide aesthetic colors and texture options, thereby making the appliances attractive and durable at the same time.

Consumer appliance coatings, owing to their corrosion and temperature resistance, have increased the durability on end products, while their low fire-hazard risk properties are becoming an integral part of various commercial and industrial sectors.

Traditionally, the growth of this market depended on the changing fortunes of the home appliances industry. However, the increase in the civil construction activities has recently become a major driving force of the market.

The economic benefits associated with such a recycling technique, which retains quality and meets standards mandated by the EPA, increases its usage in many end-use applications.  

Asia-Pacific held the largest share of the global market, as of 2015. This region is expected to witness high growth in the next five years, which would be largely fuelled by significant investments in the end-user industries, the rising disposable incomes, and the growing need for durable architectural coatings.

Developing countries, such as China and India, have shown tremendous growth in this market with their emergence as the global manufacturing hubs.

Some of the major companies dominating this market for its products, services, and continuous product developments are Akzo Nobel Coatings, BASF, PPG Industries, DuPont, Axalta Coatings System, Beckers Specialty Corporation, Henkel Corporation, Evonik, Wacker Chemie, TIGER Drylac U.S.A. Rohm and Haas Powder Coatings Co. Ralco Steel, Kansai Paints, and Valspar among others.

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SOURCE Mordor Intelligence