International.
The powder coating market size was 2.25 million tons in 2015, according to the latest research report from Global Market Insights.
Consumer goods and automotive are the primary revenue-generating applications for the powder coatings industry. The market size of this product is set to register US$15.58 million in 2023.
Potential favorable sales of household appliances, including microwave ovens, freezer chests and washing machines, should drive growth. The sharp increase in vehicle production in Brazil, Germany, China, and Malaysia are the driving factors through various applications including door edges, handles, and under-hood components.
Automotive applications are forecast to account for maximum growth, with expectations of 7.2% CAGR through 2023. Major car consumers include Chevrolet, Lincoln, Daimler-Chrysler, Dodge and Mercedes-Benz to use this coating in the manufacturing process.
