Global Powder Coating Market size is predicted to surpass 3801 kilo tons and record a CAGR of 6.9% during forecast timeframe. It is projected to touch revenue margin of about $15.59 billion by end of forecast timeline. Heavy automobile production in countries like Germany, China, Malaysia and Brazil is predicted to stimulate industry growth across various applications like under the hood parts, door handles and rims.
In addition to this, favorable sales predictions from domestic appliances like microwave ovens, washing machines and freezer cabinets is predicted to boost industry expansion. Negligible wastage is yet another aspect adding to global powder coating industry expansion as unnecessary product is gathered by extraction systems and is recycled. Raw substance also plays a vital role in industry expansion, contributing more than 40.1% of total product prices. Constant supply is predicted to lead to stable powder coating market price trend during forecast timeline.
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Global powder coating industry is segmented into applications like furniture, automotive, customer goods, architecture and industrial application.
Automotive application was projected at more than 460 kilo tons for 2015 and predicted to record CAGR of 7.5% during forecast timeline. Primary use of these application include battery trays, shock absorbers, oil & fuel filters, radiators, brake pads, wheels, engine block casings, grills, roof racks, bumpers, interior trim and door handles.
Global powder coating market is segmented into key geographical locations like LATAM, MEA, North America, Europe and APAC.
North American industry contributed $1.90 billion for 2015 in terms of revenue and U.S. powder coating market contributed to 80.1% of the overall demand.
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Europe powder coatings market share is projected to be 891 kilo tons by end of 2023. Main factor that is promoting the demand for powder coatings is enhanced automotive production in UK, Germany, Austria, Romania and Hungary.
APAC is the biggest regional industry, with revenue predictions of more than $3.6 billion for 2015. Strong development across customer goods, automotive sector and infrastructure is predicted to assist the demand, particularly for powder coatings industry share in India.
China powder coating market share contributed about more than 40.1% of the overall regional demand of APAC.
LATAM and MEA can offer substantial avenues for industry players in future.
Key industry players profiled in the report include DIC Corporation, Bayer MaterialScience, Kansai Paint Company Limited, DuPont,AkzoNobel, BASF, PPG Industries, The Valspar Corporation, Sherwin-Williams, Nippon Paint Company, Jotun A/S, Axalta,Eastman Chemical Company, Royal DSM, Arkema and Evonik Industries.
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