DUBLIN, Dec 1, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Powder Coatings Market 2016-2020" report to their offering.
The global powder coatings market to grow at a CAGR of 7.56% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global powder coatings market for 2016-2020. To calculate the market size, the report considers the revenue generated through the sales of powder coatings to end-users such as appliances, automotive, architectural, furniture, general Industrial sectors, and others. One of latest trends in the market is increasing demand from emerging economies. The powder coatings market will be driven by macroeconomic factors such as rising GDP and high income levels, especially in emerging economies such as China, South Africa, the UAE, Brazil, and India. Infrastructural growth, growing metal industry, and abundant availability of natural resources in these countries will contribute to the growth of several other industries such as construction, automotive, and appliances. This, in turn, increases the overall market for powder coatings. The infrastructure industry, which has a high requirement for coated steel and aluminum, accounts for large volume consumption of powder coatings. According to the report, one of the primary drivers in the market is growing appliances and automotive end-user industries. The growth of end-user industries is generating the demand for powder coatings. The appliances and automotive industries are the main end-users of powder coatings. These industries are experiencing growth, and these industries account for nearly 49% of the global powder coatings market. The expansion of the appliances and automotive industries and their preference for powder coatings over traditional wet coatings are the key factors for the growth of the market. In the automotive industry, powder coatings are used for applications in both interior automobile frames and exterior finishing. Powder coatings provide superior strength and glossy finish and make an automobile corrosion resistant.