Global Powder Coatings Market to hit US$ 16bn+ by 2024 - PowerPoint PPT Presentation

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Global Powder Coatings Market to hit US$ 16bn+ by 2024

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More Information @ Factors, such as technological advancement, ease of application, product development along with increasing consumer spending are among the key aspects driving the powder coatings market growth. Strong outlook in automotive, home appliances, and architectural applications will fuel the powder coating market demand over the forecast timeframe. – PowerPoint PPT presentation

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Title: Global Powder Coatings Market to hit US$ 16bn+ by 2024


1
Powder Coatings Market to hit US 16bn by 2024
Global Market Insights Inc.
2
Industry Overview
  • Powder Coating Market to exceed USD 16.5 billion
    by 2024 driven by increasing demand in the
    automotive, aerospace and marine industry. Strong
    business outlook with versatile applications
    including architectural, agricultural/construction
    equipment, decorative, AT components, and
    outdoor furniture are among the key factors
    propelling the powder coating market share.
    Shifting consumer focus towards the adoption of
    new green building construction techniques along
    with surging preferences toward eco-friendly
    building materials will promulgate overall
    industry scenario in the projected timeframe.
  • The incorporation of new sustainable solutions
    and rapid technological advancements to meet the
    efficiency, durability, and environmental
    requirements will fuel the powder coating market
    expansion. Besides, consumer preferences toward
    powder variants due to the major properties
    including durability, corrosion resistance, and
    high luster shine will further augment product
    portfolio.
  • Favorable government policies regulations
    pertaining to the reduced usage of materials
    containing toxic chemicals high VOCs content
    will boost the powder coating market growth. For
    instance, in U.S., as per the industrial surface
    coating regulation update, Hazardous Air
    Pollutant (HAP) and Volatile Organic Compound
    (VOC) content of these materials are respectively
    supervised at the local, state, and federal
    levels, thereby maintaining safe level of VOCs
    and HAP in the environment.

3
Continue
  • Thermoset resin is anticipated to surpass USD 15
    billion over the forecast period. Rising product
    demand in the electronics industry due to its
    major properties such as dielectric properties,
    high-temperature resistance, lightness, and
    non-toxic nature will augment segment growth. In
    addition, key usages including coating of metal
    surfaces to form an attractive and durable finish
    in automotive components, household appliances,
    and outdoor furniture will further propel the
    overall powder coating market size.
  • Automotive transportation components will
    witness CAGR over 8 in terms of revenue by 2024.
    An upsurge in the vehicle production coupled with
    stringent regulations pertaining to high carbon
    footprint is fueling the demand of powder
    coatings over automotive wheels and other
    components, thereby resulting in the significant
    business expansion. Further, increasing vehicle
    demand owing to rising disposable incomes and
    technological advancements in the automotive
    industry will fuel the powder coating market
    share. For instance, as per the OICA, the number
    of vehicles production has increased from 95.05
    million in 2016 to 97.30 million in 2017.
  • Asia Pacific accounted for over 40 of the
    overall powder coating market share in 2017. Key
    factors such as stable economy, rising consumer
    expenditure level, and rapid infrastructural
    development in developing countries including
    India, China, and Indonesia will influence the
    industry share. Favorable government policies
    regulations promoting efficient usage of
    eco-friendly coatings will support product
    penetration across the region. In addition,
    availability of low-cost raw materials will
    further drive the business share across Asia
    Pacific.

4

Browse Full Market Research Report Of Powder
Coatings Market _at_ https//bit.ly/1XnjtZH
Request for a Sample of this Research
report _at_ https//bit.ly/2pCEq9U
5
North America Powder Coatings Market, By
Application, 2017 2024, (USD Million)

6
Industry Coverage

7
Continue
  • Latin America powder coatings market will observe
    CAGR over 7 in terms of revenue over projected
    time period. The automotive and transportation
    domain is experiencing several transformative
    shifts that are majorly driven by the economic
    and technological disruptions thereby influencing
    the business size. Besides, strong business
    outlook owing to rapid digital transformation,
    incorporation of industry 4.0 model, and numerous
    disruptive mobility services will further elevate
    overall market share across the region.
  • The global powder coating market share is highly
    competitive with large presence of multinational
    companies and regional players. AkzoNobel NV,
    Axalta coating systems LLC, PPG Industries, Inc.,
    and Jotun Powder Coating are among major the
    manufacturers present in the business. The
    manufacturers are constantly focusing in the
    production capacity expansions and mergers
    acquisitions to enhance the overall cash
    deployment plans. For instance, in February 2017,
    Axalta Coating Systems acquired Century
    Industrial Coatings, a manufacturer of
    high-performance industrial coatings for oil
    gas, structural steel, and rail cars. This
    initiative is aimed at enhancing Axaltas
    existing sustainable and durable product
    portfolio.

8
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