A new study released by Transparency Market Research reveals
that the powder coatings industry is expected to grow rapidly in the coming
years.
In 2011, the powder coatings market was worth $6.5 billion, in 2018 it
is expected to reach $10.5 billion. This growth is largely due to the emerging
economies of Brazil, Russia, India, China, and South Africa (AKA the BRICS
countries). These countries have some of the fastest developing economies in
the world, and demand for goods such as automobiles and household appliances
has rapidly increased.
Powder coatings are solvent free and are used to provide a
dry finish. They are high quality and have a very durable finish. Cooking and
household appliances alone accounted for 20% of the powder coatings market.
Automobiles also take up a significant share of the powder coatings market, and
with the rising demand for automobiles in the BRICS means an increase in demand
for powder coatings.
If you have any questions, or would like more industry
insights, please contact Connor | Caitlin Talent Solutions.
