Global Powder Coatings Market 2019-2023 | Increasing Demand from Emerging Economies to Promote Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 4, 2018--The global powder coatings market is expected to post a CAGR of nearly 8% during the period 2019-2023, according to the latest market research report by .
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Technavio has released a new market research report on the global powder coatings market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the extensive use of powder coatings in consumer appliances. At present, the consumer appliances segment emerged is the largest end-user segment of the global powder coatings market. Powder coatings offer strength, durability, and high-quality finish and are applied to most of the household and kitchen appliances. They can be easily applied to metals, glass, wood, and plastic. They are resistant to water, acids, solvents, chemicals, and weathering. Powder coatings prevent corrosion and are regularly applied to kitchen and household appliances.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the increasing demand from emerging economies as one of the key emerging trends in the global powder coatings market:
Global powder coatings market: Increasing demand from emerging economies
Countries such as India, China, and Brazil display a high demand for powder coatings for architectural coatings, decorative, automobile, and construction applications. Factors such as rapid economic development in these countries and increased spending on appliances, automobiles, and furniture will contribute to the growth of the market.
“In countries such as India, China, and Brazil, the architecture industry is likely to exhibit a strong demand for powder coatings. Various players in the market have strengthened their supply chain networks and set up new production facilities in these countries to cater to the high demand. During the forecast period, Russia will prove to be a key market for powder coatings owing to the strong demand for powder coatings from the construction and architectural industries,” says a senior analyst at Technavio for research on specialty chemicals.
Global powder coatings market: Segmentation analysis
This market research report segments the global powder coatings market by end-user (consumer appliances, automotive, architectural, furniture, general industries, and others) and geographical regions (APAC, EMEA, and the Americas).
The consumer appliances segment held the largest market share in 2018, accounting for nearly 33% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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