Worldwide Powder Coatings Market Expected To Reach $ 12.4 Billion By 2020 With A CAGR Of 7.45%

Date: 2016-09-18

Powder coatings are a type of solvent-free coating product used to provide a dry finishing process. They are known to provide a high-quality, durable finish. Moreover, they emit minimal volatile organic compounds and are therefore eco-friendly compared to solvent-based coatings. Powder coatings are composed of resins, additives, curing agents, extenders or fillers, and tint pigments.

The global Powder Coatings market was estimated at USD$ 8.66 billion in 2015, and is anticipated to reach USD$ 12.4 billion by 2020, expanding at a CAGR of 7.45% between 2016 and 2020. Raw material trends are a key industry driving factor, covering over 38% of total production cost. Balanced supply will be critical for favorable powder coatings market prices. Moreover, limited wastage and ability to recycle is another positive factor to foster product demand.

North America market was valued at USD 1.79 billion in 2015 and will show significant rise owing to growing demand for soccer goals, golf courts, basketball backstops, lockers for players, cafeteria tables, and sports bicycles. Growing automotive industry in the U.S. and rising concern over VOC emissions from solvent-borne coatings during production is expected to propel powder coatings demand.

APAC powder coatings market size for furniture applications was more than 210 kilo tons for 2015. Strong growth outlook in the Chinese metal furniture industry, owing to raw material availability may positively influence growth.Superior properties in terms of heat and corrosion resistance has fueled the consumption in defense and outdoor home products including wheelbarrows, lawn mowers, snow shovels, snow blowers, barbecue grills, garden tools ,and propane tanks.

Key participants include PPG Industries, AkzoNobel, Sherwin-Williams, Axalta Coating Systems and BASF, together accounting for over 35.0% of the global market share in 2015. Other prominent players include Valspar Corporation, Nippon Paint, Kansai Paint, and Jotun.
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Joanna | Executive – International Business and partner Relations
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