“The powder coating market has expanded tremendously over the past decade due to it advantage over conventional coating methods.”
According to a market report prepared in August 2016 by Grand View Research, Inc., the global powder coatings market is expected to reach USD 16.55 billion by 2024. 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.
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