The global powder coatings market is expected to reach USD 16.55 billion by 2024, according to a new report by Grand View Research, Inc. Increasing demand owing to high variation in texture, color & coating thicknesses along with their enhanced durability will augment market growth over the next eight years.
Increasing use of powder coatings for aluminum extrusion used in windows, doorframes, building facades, kitchen, bathroom and electrical fixtures will fuel industry expansion. Rising construction spending in various countries including China, the U.S., Mexico, Qatar, UAE, India, Vietnam, and Singapore will fuel growth over the forecast period. Increasing government support for eco-friendly and economical products will stimulate demand over the forecast period.
General industries were the prominent application segment and accounted for 20.7% of the global volume in 2015. Increasing demand for tractors in the U.S., Brazil, Japan, India, and China is expected to augment the use of powder coatings on account of its corrosion protection, excellent outdoor durability, and high-temperature performance. Moreover, growing usage in agricultural equipment, exercise equipment, file drawers, computer cabinets, laptop computers, cell phones, and electronic components will propel industry expansion.
Full Research Report On Powder Coatings Market Analysis: www.grandviewresearch.com/industry-analysis/powder-coatings-market-analysis
U.S. powder coatings market volume, by applications, 2013 – 2024 (Kilo Tons)
Further Key Findings from the report suggest:
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Grand View Research has segmented the global powder coatings market on the basis of resin type, application and region:
Resin type Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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