Friday, August 10, 2018
Powder Coatings Market forecast to 2025 scrutinized in new research
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According
to a new market report published by Credence Research Inc., “Powder Coatings
Market by Resin Type (Epoxy, Polyester, Epoxy-Polyester, Acrylic,
Polyurethane and Others), by Application Type (Consumer Goods, Automotive,
Architectural, General Industries, Furniture and Others)” - Growth,
Future Prospects, Competitive Analysis, 2016 – 2023”, the worldwide powder
coatings market was valued at US$ 8.70 Bn in 2015. In the same year, in terms
of volume the powder coatings market was 2.36 Million tons.
Market
Insights:
The
global powder coatings market is projected to grow significantly during the
forecast period. Rising applications of powder coatings in various sectors such
as automotive, furniture and appliances among others is the major factor
driving the market growth. Moreover, advantages of powder coatings over
traditional wet paints such as high resistance to corrosion, durability,
cost-effective, and high-quality finish is another factor contributing towards
the market growth.
Powder
coatings are environment friendly as they are solvent free thus result in
negligible emissions of volatile organic compounds (VOC). Therefore, have high
support from the government regulatory such as REACH and EPA, thereby fueling
demand. However, application and design issues are inhibiting the market
growth. High consumption of energy is another factor restraining the market
growth over the next six years.
Emerging
economies such as India, China, Malaysia, Brazil, and some GCC countries offers
lucrative growth due to strong growth in automotive industry. Growing demand
for furniture along with the availability of the product is projected to propel
the market growth. Continuous innovation and technological advancements is
projected to further expand market opportunities.
Competitive
Insights:
The
market is moderately fragmented with top ten participants accounted for 45%
share of the global market in 2015. AkzoNobel, PPG, Sherwin Williams and Axalta
are some of the prominent players present in this market. To increase their
foothold in the market companies are focusing on various product innovation.
Some of the others key players present in this market are Jotun, BASF and
Nippon Paint among others.
Key
Trends:
- Emerging economies offers huge
untapped market potential
- Advancement in technologies
provide huge market opportunities
- Rising demand for powder coatings
from various end use sectors
Why buy this report?
1. The report identifies and addresses key markets for Powder Coatings Chemicals market, which would help manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market
and provide insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their
competitors better and will help in making strategic decisions.
Request Sample: https://www.credenceresearch.com/sample-request/58264
Browse the
full Powder Coatings Market - Growth, Future Prospects and Competitive
Analysis, 2017 – 2025 report at https://www.credenceresearch.com/report/powder-coating-market
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Credence Research is a worldwide market
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their most imperative objectives. Over almost a century, we've manufactured a
firm extraordinarily prepared to this task.
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