DUBLIN--(BUSINESS WIRE)--The "Powder Coatings Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The powder coatings market is expected to grow at a CAGR of above 6% during the forecast period of 2019-2024.
Major factors driving the market studied are strict regulation against VOC emissions & favorable government initiatives promoting the usage of powder coatings, and accelerating automotive production in Asia-Pacific and Europe. On the flip side, increasing raw material costs is expected to hinder the growth of the studied market.
- The polyester segment dominated the market in 2018 and is expected to grow during the forecast period owing to its good weathering resistance making it suitable for exterior applications in various industries.
- In addition, planned investments in automotive production in the Middle East & Africa region, and growing investments in infrastructure & construction industry in emerging economies in Asia-Pacific region are likely to provide opportunities for the studied market during the forecast period.
- Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China, South Korea, and India.
Key Market Trends
Industrial Segment to Witness Strongest Growth among End-user Industries
- Industrial demand for powder coatings stands to be the highest among all the end-user industries. Besides, the segment is also expected to witness highest growth during the forecast period, due to extensive industrial application of powder coatings.
- The appliance industry makes up the largest portion of the powder coating market, accounting for more than two-fifth of all industrial powder coated parts.
- Powder coating is popular within this segment due to its two-fold benefit of being both aesthetically pleasing as well as resistant to abrasion and corrosion.
- Some of the more common appliance applications of powder coatings includes microwaves & refrigerators, vending machines, and washers & dryers.
- With the growing income levels, and innovation leading to technological advancement across the globe, the demand for such products have been increasing. This is leading to increase in the production of such appliance, which is further creating demand for the powder coatings from the appliance industry.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region dominated the global market share in 2018. Growing income levels, growing investments into automotive industry, and increasing migration in search of jobs is driving the construction activities and demand for industrial goods; this in turn are driving the demand for powder coatings market in the region.
- Automotive industry has been witnessing strong growth in the countries, such as India, Indonesia, Malaysia, and Thailand, due to growing investments by the automotive producers.
- Besides, construction industry growth in these countries is fueled by the growing service industry in the region, leading to increase in migration; growing population; and shortage of residential houses in the region.
- Moreover, rising income levels, and growth in migration for jobs has also created market for industrial goods, such as fridge, air conditioners, and washing machines.
- Hence, with such robust demand and growth of above mentioned end-user industries, the demand for powder coatings from such industries have been increasing in the region simultaneously.
The powder coatings market is a fragmented market, with numerous players holding small share of market demand. Some of these major players include Akzo Nobel N.V., BASF SE, Sherwin Williams, PPG Industries, Lonza Group Ltd., and Royal DSM, among others.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Strict Regulation against VOC Emissions and Favourable Government Initiatives Promoting the Use of Powder Coatings
4.1.2 Accelerating Automotive Production in Asia-Pacific and Europe
4.2.1 Increasing Raw Material Costs
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
5 MARKET SEGMENTATION
5.1 Resin Type
5.1.6 Other Resin Types
5.2 End-user Industry
5.2.1 Architecture and Decorative
5.2.4 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Alpha Coating Technologies
6.4.3 Asian Paints PPG Pvt Limited
6.4.4 Axalta Coating Systems LLC
6.4.5 BASF SE
6.4.6 Berger Paints India Limited
6.4.8 IGP Pulvertechnik AG
6.4.10 Kansai Paint Co. Ltd
6.4.11 National Paints Factories Co. Ltd
6.4.12 Nippon Paint Holdings Co. Ltd
6.4.13 PPG Industries Inc.
6.4.14 Protech Powder Coatings Inc.
6.4.15 RPM International Inc. (TCI Powder Coatings)
6.4.16 ShawCor Ltd
6.4.17 Sak Coat
6.4.18 The Sherwin-Williams Company
6.4.19 United Coatings Industries
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Planned Investments in Automotive Production in Middle East & Africa
7.2 Growing Investments in the Infrastructure and Construction Industry in the Emerging Economies of the Asia-Pacific Region
For more information about this report visit https://www.researchandmarkets.com/r/y64p2a