The Global Market For Powder Coatings Is Expected To Be About $15.7 Billion This Year
The global market for powder coatings is estimated to be about $15.7 billion this year and $21.4 billion by 2025, with a cAGR of 6.3%, according to a recent study by Markets&Markets. Due to the increasing demand in the downstream application field and the innovation of powder coating technology, the global powder coating market will develop rapidly.
The global market for powder coatings is estimated to be about $15.7 billion this year and $21.4 billion by 2025, with a cAGR of 6.3%, according to a recent study by Markets&Markets. Due to the increasing demand in the downstream application field and the innovation of powder coating technology, the global powder coating market will develop rapidly.
Powder coating is a modern new coating products, one hundred percent of the solid powder coating, if excessive or super spray, can be used to recycle the excessive part of the paint recycling system, reduce environmental pollution, with no solvent pollution-free energy saving to reduce labor intensity and coating mechanical strength high characteristics.
The development of powder coatings in the Asia-Pacific region is remarkable
From the global area, the asia-pacific region the most significant development of the market of powder coatings, thanks to strong growth in the region of the electronics industry and car manufacturing countries such as India, South Korea, Thailand in China home appliance class consumer demand continues to grow, and indirectly boost the application of powder coatings is home appliance industry in recent years development the most obvious in the application of the powder coating industry, such as refrigerator air dryer washer water heater microwave oven, etc.
By 2020, the sales of powder coatings for automotive and GENERAL industrial products are expected to reach us $5.11 billion. The Asia-Pacific region has become the largest consumption market of powder coatings in the future, and the compound annual growth rate of powder coatings consumption in the Asia-Pacific region will reach 8.5% before 2020.
Due to the increasingly strict VOC restrictions imposed by EPA, REACH and other regulatory agencies, powder coatings will have more growth potential than traditional liquid coatings in the future. In addition, growing markets for cars, appliances and other consumer goods will continue to boost powder paint sales.
In the long run, China, India, Brazil and Russia will be key markets for future growth in the powder coatings market, while the powder coatings market in Europe and North America has matured with limited growth.
