Automotive Powder Coating Market Expected To Reach XX Million During Forecast Period from 2018 to 2025
According to a new report published by Reports Monitor titled, “Automotive Powder Coating Market by type, and by Application: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the automotive powder coating market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Asia-Pacific is anticipated to dominate the automotive powder coating, both in terms of value and volume, and is expected to maintain this trend throughout the forecast period.
Powder coating is in its fifth decade of commercial existence. Powder coatings in automotive industry are popular amidst customer attributing to their cost-competitiveness and environment-friendly nature. They offer variety of features such as conservative, long lasting durability, superior quality, scratch resistant, ideal toughness, gleam retention and imperviousness to chalking. The powder coating even provides desired colour and exterior aesthetics to automobile as per demand. Unlike conventional liquid paints they do not require liquid carrier and ate devoid of solvents and volatile organic compounds. In addition powder coating being dry paint obtains 100% finishing and has the ability to be recovered and reused for consumption thereby cutting down expenses.
Highly modifiable technology in the automotive sector on account of less operational cost, enhanced performance, wide colour availability and customized properties including anti-bacterial and anti-corrosion functions attracts the modern population and best fits necessary requirement that drives the growth of automotive powder coatings market. The automotive business and apparatuses holds up significant share of the global utilization of powder coating owing to technological advancement and growing applications. Furthermore, rising need of automotive refinish attributed to vehicle maintenance and repair is evoking the growth of the market. Besides, rising demand for electric and hybrid vehicles in light of carbon emission, stringent government regulations fuels the development. Nonetheless, volatile prices of titanium dioxide required as raw material in the manufacturing of powder coatings might impose threat hindering further growth of the market. Moreover, difficulty in sourcing raw material is anticipated to act as major challenge to the manufacturers.
Key Question Answered:
• What will the market growth rate, Overview and Analysis of Global automotive powder coating Market over the forecast period from 2017 to 2025?
• What are the key factors driving the growth of the market, Analysis by Applications and Countries engaged in Global automotive powder coating Market?
• What are the Opportunities, trends, Risk and threats Faced by the vendors in Global automotive powder coating Market?
• What are the challenges to encounter by key vendors in the global automotive powder coating market growth?
• Deep analysis of top key players in the market and what are their strategies to expand automotive powder coating market globally?
• What is the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• Macroeconomic factors affecting the growth of the automotive powder coating market and what are the key outcomes of the five forces analysis of the global automotive powder coating market?
Dominant key players included in the report are: AkzoNobel, PPG Coatings (Thailand) Co. Ltd, DuPont, BASF, Jotun, AZO Ltd., SOMAR ALL, Evonik Industries, Nippon Paint Holdings Co. and Axolta Coating Systems (Thailand) Co Ltd.
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