The global powder coatings market to grow at a CAGR of 7.56% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global powder coatings market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of powder coatings to end-users such as appliances, automotive, architectural, furniture, general Industrial sectors, and others.
One of latest trends in the market is increasing demand from emerging economies. The powder coatings market will be driven by macroeconomic factors such as rising GDP and high income levels, especially in emerging economies such as China, South Africa, the UAE, Brazil, and India. Infrastructural growth, growing metal industry, and abundant availability of natural resources in these countries will contribute to the growth of several other industries such as construction, automotive, and appliances. This, in turn, increases the overall market for powder coatings. The infrastructure industry, which has a high requirement for coated steel and aluminum, accounts for large volume consumption of powder coatings.
According to the report, one of the primary drivers in the market is growing appliances and automotive end-user industries. The growth of end-user industries is generating the demand for powder coatings. The appliances and automotive industries are the main end-users of powder coatings. These industries are experiencing growth, and these industries account for nearly 49% of the global powder coatings market. The expansion of the appliances and automotive industries and their preference for powder coatings over traditional wet coatings are the key factors for the growth of the market. In the automotive industry, powder coatings are used for applications in both interior automobile frames and exterior finishing. Powder coatings provide superior strength and glossy finish and make an automobile corrosion resistant.
Further, the report states that one major challenge in the market is fluctuations in raw material costs. The fluctuating price of raw materials used for the manufacture of powder coatings is a major challenge for the global powder coatings market. The price of raw materials such as polymers, additives, resins, and related solvents has been fluctuating. Binders, solvents, and resins are petroleum derivatives. Thus, the prices of these materials vary in tandem with the natural gas and crude oil prices.
- Akzo Nobel
- Axalta Coating Systems
- PPG Industries
- Sherwin Williams
- The Valspar Corporation
Other prominent vendors
- Eastman Chemical
- Evonik Industries
- Nippon Paints
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by type
Part 07: Market segmentation by application
Part 08: Market segmentation by end users
Part 09: Geographical segmentation
Part 10: Market drivers
Part 11: Impact of drivers
Part 12: Market challenges
Part 13: Impact of drivers and challenges
Part 14: Market trends
Part 15: Vendor landscape
Part 16: Key vendor analysis
Part 17: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/wk38n4/global_powder
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SOURCE Research and Markets