Pune, India — 12/21/2017 — Synopsis of Powder Coatings Market:
Powder Coatings are a type of coatings based on polymer resin systems, combined with pigments, flow modifiers, levelling agents, curatives, and other additives. These components are melt mixed, cooled, and ground into a uniform powder. Electrostatic spray deposition (ESD) is typically used to attain the application of Powder Coating on a metal substrate. Powder Coatings offers excellent properties such as high durability, impact resistance, and UV rays protection, moisture & chemical resistance. With the above-mentioned properties they are widely used in numerous application such as architectural & furniture, appliances, consumer goods, automotive & transportation, and others.
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As per our Analysis, some of the important market factors and trends identified in the Global Powder Coatings Market include rapid urbanization, increasing demand for solvent free coatings, and continuous growth of automotive industry. Moreover, high consumption of powder coatings coupled with shifting trend for replacement of conventional solvent based coatings in various end use industries is expected to fuel the growth of the market. Speedy industrialization along with rising consumer disposable income is also expected to drive the growth of the market over the forecast period, 2017 to 2023. Increasing usage of Powder Coatings in the manufacturing of various electronics & electrical parts is predicted to drive the demand for powder coatings over the assessment period. Rising concerns towards mitigation of the ill effects of volatile organic compound (VOC) coupled with stringent regulations imposed by various government bodies is estimated to propel the demand for powder coatings. However, high energy consumption is estimated to hinder the growth of the market over the assessment period.
The major players operating in the Powder Coatings Market are PPG Industries, Inc (U.S.), The Valspar Corporation (U.S.), Akzo Nobel N.V. (the Netherlands), Asian Paints Limited (India), KANSAI PAINT CO.,LTD (India), Royal DSM (the Netherlands), Arkema (France), Evonik Industries (Germany), TCI Powder (U.S.), The Sherwin-Williams Company (U.S.), and others.
The Global Powder Coatings Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Asia Pacific region is predicted to grow with a highest CAGR during the estimated period, 2017 to 2023 on account of stable economy and continuous growth of automotive & transportation industry. The demand for Powder Coatings is expected to propel in the numerous countries of Asia Pacific such as China, India, Vietnam, Thailand, Singapore, South Korea, and Japan due to high adoption rate by the automobile manufacturers and implementation of strict regulation regarding VOC emission rate. Furthermore, increasing automotive production and sales as well as rising demand for household appliances in emerging economies along with growing disposable income of consumer is predicted to fuel the growth of the market. Economic development in Asia Pacific, particularly Vietnam, China, India, Bangladesh, has presented opportunities for Powder Coating in the transportation sector.
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Asia Pacific has emerged as the leading market region for Powder Coatings followed by Europe and North America. European countries such as Italy, Russia, France, Spain, UK, and Germany have emerged as prominent consumer markets due to implementation of stringent emission regulations by government body such as REACH and continuous growth in automotive sector. Germany is estimated to grow with a healthy CAGR on account of strong automotive manufacturing base along with shifting manufacturers' interest towards Powder Coatings. Additionally, the Middle East and Africa is predicted to witness a steady growth over the forecast period due to a significant rise in infrastructural development in residential as well as commercial sector. Countries in the Middle East such as the United Arab Emirates (UAE), Oman, Turkey, Qatar, Kuwait, and Saudi Arabia are witnessing increasing demand for durable coatings which is propelling the expansion of local market players in various countries and is predicted to fuel the demand for Powder Coatings.
Key Points from Table of Contents:
12. Company Profiles
12.1 PPG Industries, Inc
12.1.1 Company Overview
12.1.2 Product/Business Segment Overview
12.1.3 Financial Updates
12.1.4 Key Developments
12.2 The Valspar Corporation
12.2.1 Company Overview
12.2.2 Product/Business Segment Overview
12.2.3 Financial Updates
12.2.4 Key Developments
12.3 Akzo Nobel N.V.
12.3.1 Company Overview
12.3.2 Product/Business Segment Overview
12.3.3 Financial Updates
12.3.4 Key Developments
12.4 Asian Paints Limited
12.4.1 Company Overview
12.4.2 Product/Business Segment Overview
12.4.3 Financial Updates
12.4.4 Key Developments
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