Powder coatings, as their name specifies, are a kind of paints in the form of powder. They are prepared by crushing a blend of pigments, resins and therapeutics amongst others to produce a powder. Powder coatings are then squirted on top of the exterior requiring coating. This exterior surface is then warmed in a stove-top which softens the powder, leading to a smooth cover.
For Market Research Report on “Powder Coatings” Visit –
Powder coatings are better than conventional liquids in terms of their features. The features include greater resistance to chipping, oxidization and scrapes, high quality finish and protection from dampness, chemicals and heat. Moreover, powder coatings are also bio-friendly. Such benefits of powder coatings do well for the powder coatings market and steer it ahead.
The worldwide powder coatings market is estimated to experience swift development in the years to come. This is credited to rising demand for client goods from the developing nations of BRIC. These nations have the most rapidly rising economies across the globe. Escalating demand for powder coatings from the nations of China and India is also expected to drive worldwide demand for the powder coatings market.
The market was estimated at about USD 6.5 billion in 2011. It is likely to register a CAGR of around 7.2 percent during 2012 to 2018. The powder coatings market is predicted to observe a size of about USD 10.5 billion by 2018. It is divided in view of two categories. These are geographies and applications. The geographies market consists of Europe, rest of the world, Asia Pacific and North America.
The applications powder coatings market is segmented further into seven categories. These include architectural, devices, general industry, client goods, automotives, furniture and others. Amplified demand for powder coatings across these sectors is also estimated to steer the sales of the market.
The geographies powder coatings market was dominated by Asia Pacific in 2013. The region was the biggest client base of powder coatings in the world. This happened on account of the sectors of electronic and automotive production in the region. Asia Pacific made for nearly 46 percent of the total volume. Moreover, the region is also projected to be the most speedily expanding powder coatings market through the forecast period.
It is likely to expand at around 8.5 percent CAGR during 2014 to 2020. China is the biggest client. Moreover, the nations of Brazil, India and Russia are estimated to be the most significant clients of the powder coatings market in Asia Pacific. Europe and North America are fully-grown and are likely to rise gradually during the forecast phase.
The applications market was leaded by client goods in 2013. Client goods captured nearly 22 percent of the total volume. Automotives are predicted to be the most speedily developing application of the powder coatings market. The expanding automotives market in Asia Pacific and growing investment power in the region has led to boosting demand for luxury cars.
This factor has also caused escalated demand for the worldwide powder coatings market. The various benefits of powder coatings help all the segments of the market prosper.
Information Source: Grand View Research