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Increased demand for consumer goods leads to growth of powder coatings market

Press release August 8, 2014 Powder coatings market, powder coatings industry

This report covers the present scenario and the growth prospects of the Global Powder Coatings market for the period 2014-2018.

The powder coatings market demand was about 1,680 kilo tons in 2011 and is expected to reach 2,667.6 kilo tons by 2018. Growing at a CAGR of 6.98% from 2013-2018in terms of revenue, the market was valued at USD 6.5 billion in 2011 and is expected to reach USD 10.5 billion by 2018.

This report, Global Powder Coatings Market 2014-2018, provides a forecast of the market in the period from 2013 in 2018. It also considers the revenue generated from the sales of powder coatings by the key vendors. The report provides data on the different segments of powder coatings market, which is based on the following criteria: material, type, application and geography.

Market overview

Since powder coatings emit minimal volatile organic compounds, it is more eco-friendly than solvent-based coatings. Furthermore, they give a high quality and durable finish. The developing economies, especially the BRICS countries, have witnessed an increase in disposable income, giving birth to an increased demand for consumer goods such as appliances, furniture and automobiles, which has in turn fuelled the demand that’s driving the powder coatings market. This, along with the support for the use of authorized environmental agencies like EPA and REACH, has further fuelled the demand for powder coatings.

Despite the demand from emerging economies, powder coatings have fewer applications and design difficulties such as application of thinner coats and furthermore, powders cannot be blended to form different colors. These factors are expected to hamper the growth of the powder coatings market in the forecast period.

The largest application segment for the powder coatings market is appliances, which accounted for over 20% of consumption in 2011. Besides appliances, it is the demand from the automotive sector that is expected to grow at a CAGR of over 7% during the forecast period due to the rising demand of automobiles, both in terms of original equipment as well as spare parts across the world.

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Powder coatings market, powder coatings industry