Published Date : Dec 05, 2016
Albany, NY, Dec 05, 2016: The report examines the global powder coatings market and presents a detailed overview of the various factors expected to have a favorable as well as adverse effect on the growth of the global powder coatings market in the 2016-2020 forecast period. The segmentation of the powder coatings market is also examined in the report in order to provide readers with a reliable representation of the powder coatings market’s dynamics. The report is titled ‘Global Powder Coatings Market 2016-2020’ and is available for sale on the official website of MarketResearchReports.biz.
According to the report, the global powder coatings market is expected to exhibit a robust 7.56% CAGR between 2016 and 2020.
Powder coating is a widely used dry surface finishing technique. It doesn’t require solvents, as the powder is applied electrostatically and then heated to impart adhesion. Heating the powder coating materials turns them into a hard ‘skin’ resistant to most environmental contaminants. Due to the effectiveness of the powder coating process in keeping out moisture, it is used on a large scale in metalworking.
By product type, the report examines the demand for thermoset polymers and thermoplastic polymers. The key types of materials used in powder coatings are resins, curing agents, additives, tint pigments, and extenders (fillers). Detailed 2015-2020 growth projections are presented in the report for each product type.
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The rising demand for powder coatings from the automotive industry is the leading driver for the global powder coatings market. The automotive industry has exhibited steady growth in the last few years due to the rising demand from emerging regions such as Asia Pacific as well as the booming manufacturing sector in dynamic economies such as China and India. The sustained demand for premium features such as high-quality coatings from the increasingly prosperous customer demographic in these countries is likely to remain a key driver for the global powder coatings market in the coming years.
However, despite the industry’s strong growth prospects in emerging regions, the powder coatings market is likely to exhibit slow growth in traditionally dominant markets such as Europe. The firmly established presence of automotive giants in Germany, Italy, France, and the U.K. has kept Europe a dominant market for innovations in automotive design. However, the early adoption of powder coatings in Europe has led to stagnation of the market, as powder coatings still have significant scope in the automotive industry and a notable lack of competition from other innovative technologies, which are either too expensive for mass production or less effective than powder coatings.
The competitive landscape of the global powder coatings market is also examined in detail in the report. Leading players such as Akzo Nobel, Sherwin Williams, Axalta Coating Systems, The Valspar Corporation, and PPG Industries are profiled in the report in order to shed light on the competitive dynamics of the powder coatings market.
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