International. Global demand for powder coating products was at 1,680.0 tons per kilo in 2011 and is expected to reach 2,667.6 tons per kilo in 2018 during the forecast period, growing at a CAGR of 6.8%.
In terms of revenue, this market was valued at $6.5 billion in 2011. Growing at a CAGR of 7.2% during the forecast period, this could reach $10.5 billion in 2018, the Transparency Market Research report adds.
The BRICS countries (Brazil, Russia, India, China and South Africa) represent huge growth opportunities for many industries. The demand for consumer goods such as household appliances, automobiles, furniture and kitchen appliances, which constitute the main application areas of the powder coating industry, are in a continuous increase in the global market.
In addition to this, support for powder coating mechanisms and products by environmental conservation bodies such as EPA and REACH is also an important factor driving this industry on a global front.
However, the report highlights that factors such as the issues associated with the application of very thin layers, uneven thickness of layers at the edges of a product, and thin films in the layers in the inner corner of a product could hinder the growth of this industry to some extent.
The kitchen and appliance applications segment led the global powder coating market in 2011. This market segment accounts for about 20% of the global industry demand. The report notes that demand from the powder coatings industry is expected to increase by the automotive industry in the coming years. Demand from this segment is expected to see growth at a CAGR of 7% during the forecast period.
