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Consulting company Frost & Sullivan predicts the rapid development of the powder coatings segment in the global market. Analysts reflected their observation in a 2018 study.
End-user markets, including automotive, construction, technical and industrial, are switching to more productive materials due to the growing purchasing power of customers and their interest in high-tech manufacturing. This interest has different reasons, explained Frost & Sullivan.
First, environmental regulation trends play an important role. Powder-free chemical compounds without solvents are more environmentally friendly, and materials without emissions of volatile organic compounds and hazardous pollutants simplify production at an organizational level.
Secondly, powder coatings are becoming increasingly popular in electrical processes, equipment for processing food and beverages because of their technical properties.
Thirdly, there are high demands on the quality of goods on the market. In this regard, Frost & Sullivan makes geographic forecasts: China and India will be the key engines of growth in APAC due to the rapid growth of their equipment sector, and the Middle East will be a profitable market to cover the suppliers of the construction industry.
According to analysts, North America and Europe will remain the center of research activities.