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.
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