Global powder coatings market value will reach US$134.9 billion in 2022 WITH A COMPOUND growth rate of 6.75 percent

The global
powder coatings
market is expected to reach $134.9 billion by 2022 and a COMPOUND growth rate of 6.75 percent from 2017 to 2022, according to a report by market research firm Markets and Markets. As the demand for electrical appliances and light vehicles continues to grow, the demand for
coatings
increasing. Growing demand in end-use industries in developed and emerging countries has also led to the growth of the powder coatings market.
2016, the electrical sector accounted for the largest market share, followed by the automotive, general industrial, construction, furniture and other end-use industries. The growing demand for new and innovative products, as well as the development of powder coatings, has encouraged companies to adopt organic and inorganic growth strategies to increase their market share.
thermally cured plastics are currently the leading resin type powder coatings. This type of demand is due to the increasing acceptance of thermosic plastics in a variety of end-use industries around the world. Thermo-solid materials are used in most powder coating methods because they provide durable and decorative surface layers.
asia-Pacific region expects the highest growth in the value and quantity of powder coatings from 2017 to 2022. In recent years, the region's powder coatings market has been boosted by increased demand for automobiles and appliances, as well as increased population and disposable income. High demand for powder coatings in various end-use industries in emerging and developed countries is expected to drive growth in this market in the future.
powder coatings market in Southeast Asia was valued at $222.7 million in 2015, and is expected to reach $295.2 million in 2022, with a CAGR of 4.2% in 2016-2022, according to a new study by the Institute.
is the largest powder coatings market in Southeast Asia and will maintain this position for the next six years.
The growth of the powder coatings market in the region is largely due to technological advances and demand in the fields of construction, home appliances, automotive, furniture, ACE (agriculture, construction, engineering equipment) and general industry, and the growth of powder coatings in the region is driven by increasingly stringent environmental regulations. Over the past few years, the powder coatings market in Southeast Asia has grown steadily.
appliances are the main application areas in the powder coatings market in Malaysia and the Philippines and are expected to grow at an annual rate of 4.4%.
is the most important application in Singapore's powder coatings market, with a CAGR of 3.3% expected in the future.
and home appliances are the most important applications in the Thai powder coatings market.
powder coating manufacturers include Akzo Nobel, Asian Paints, Axalta, Jotun, Kansai, PPG, Sherwin-Williams, Valspar and Somar. Powder coating technology is evolving rapidly to adapt to demand-driven markets. Suppliers must maintain product consistency and minimize irregular supply of demand throughout the operation.