According to the global powder coating market report released by Transparency Market Research, global powder coatings will grow at a rate of 7.2% from 2012 to 2018. By 2018, the market size will reach US$10.5 billion and demand will reach 2.67 million tons. The Asia Pacific region is expected to further increase its share.
According to the report, demand in the automotive and home appliance markets accounts for a large share of global powder coatings; cooking and household appliances account for 20%. Industry insiders point out that the global automotive industry is growing at an annual rate of 7%. The rapid expansion of the automotive market in emerging economies has also contributed to the development of the powder coatings market. The Asia Pacific region is the leading region in the global powder coatings market. The Chinese and Indian markets are strong and will work with other Asian countries to boost the Asia Pacific powder coatings market in the coming years.
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