The global market for powder coating is expected to reach USD 12.48 billion by 2020, according to a new study by Grand View Research, Inc. Growing support for the use of powder coatings in comparison to conventional liquid paints by regulatory agencies such as EPA and REACH on account of negligible VOC emissions is expected to be a key driver for market growth. In addition, growing application demand with regards to automotive, appliances and consumer goods is also expected to drive powder coating sales over the next six years. Consumer goods are the largest application market for powder coatings, with estimated consumption of 437.3 kilo tons in 2013. Automotive and general Industries were the key application markets, with combined powder coating sales expected to reach USD 5.11 billion by 2020. Powder coating demand in furniture was relatively small in 2013 but is expected to witness substantial growth of over 7.6% from 2014 to 2020.
http://www.grandviewresearch.com/industry-analysis/powder-coatings-market-analysis
No comments:
Post a Comment