Chemical Research Report Powder-Coatings-Market | Page 2

a new production plant for powder coatings in Landshut, Germany, in order to cater to its large
customer base in Europe.
The global powder coatings market size is estimated at US$ 9,130.4 million (revenue) and
2,314.6 kilo tons (volume) in 2016 and is expected to expand at a CAGR of 6.2% in terms of
revenue and 6.9% in terms of volume during the period 2017 – 2025.
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Automotive has emerged as the fastest growing application area for powder coatings
Automotive segment is expected to dominate the powder coatings market over the forecast
period and is expected to expand at a CAGR of over 6% in terms of volume as well as revenue.
According to a study conducted by Coherent Market Insights, the global automotive market is
projected to reach over 82 million units by the end of the calendar year 2017. This rapid growth
of automotive industry is expected to boost the growth percentile of automotive application
segment in case of global powder coatings market.
Factors such as growing population, increasing disposable income, rampant growth of the
automotive industry, in turn is expected to boost growth of the powder coatings market
throughout the forecast period.
Growing furniture industry to boost the market growth
Asia Pacific, followed by Europe and North America accounted for major share in the global
powder coatings market both in terms of revenue and volume in 2016 and the trend is estimated
to remain the same over the forecast period. In 2016, Asia Pacific held a share of 46.9% in
terms of volume, followed by Europe (27.6%). The growing demand for furniture in Asia
Pacific due to growing population, increased urbanization and growing retail and hospitality
sector is expected to drive growth of the global powder coatings market over the forecast
period. According to a study conducted by Coherent Market Insights, the global furniture
market is expected to witness a CAGR of 5.2% from 2017 to 2025 which is expected to fuel the
global powder coatings market.
Multinational players need to tap potential addressable market in the emerging regions
with the help of geographical expansion