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Powder Coating Market Share, Size,Growth, Key Players, Outlook
and Forecasts to 2024 | Hexa Research
“ The global powder coating market is expected to grow at a healthy CAGR of
over 7 % over the forecast period.”
27 December 2018
The global powder coating market is expected to grow at a healthy CAGR of over 7 % over the forecast period
(from 2016 to 2024). Strong automobile production outlook in Brazil, China, Germany, and Malaysia is
anticipated to drive the global market across various applications such as door handles, rims etc. Steady raw
materials supply is said to result in a stable price trend during the next few years. The global market is
categorized as applications and regions.
The application sector includes architecture, automotive, industrial, consumer goods, and furniture. The
consumer goods sector dominated the global market in 2015 occupying over 23 % of the total revenue. This
is mainly because coatings provide a supple, consistent finish that resists cracking and/or peeling. In addition
to this, the rising demands for domestic appliances such as freezer cabinets, microwave ove ns, washing
machines etc., are also projected to augment the market growth. The automotive sector is also expected to
witness a rapid growth with a CAGR of over 8 % during the estimated years. Shelving systems, outdoor metal
furniture, metal cabinets etc. are several other lucrative applications with a revenue forecast of over USD 3
billion by 2024. The advent of Medium Density Fiber Board (MDF) has strengthened the wood furniture
application scope over the few years.
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