London, 04 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the powder coatings market in Western Europe 2015-2019, which is expected to grow at a CAGR of 2.99% over the forecast period of 2014-2019.
Powder coated products, such as metal panels, metal covers, vehicle testing equipment, and shop fittings, are expected to generate strong demand for powder coatings. Moreover, the demand for powder coatings from the telecom and electronics industries in Western Europe is a major factor driving market growth. This is particularly true in the case of countries such as Germany. Powder coating technology is deployed for the coating of various components and parts used by these industries.
“An increasing number of vendors in the market, especially in countries such as Germany, are focusing on the introduction and development of powder coatings in the pipeline coatings sector,” says Faisal Ghaus, Vice President of Technavio.
“With market saturation and a high penetration of powder coatings in various other applications, key vendors are targeting niche and high-value applications, such as pipelines.”
Key Market Drivers
- Increase in Demand for General Industrial Applications
- Increase in Demand for Application on MDF
- Strong Demand from Telecom and Electronics Industries
- Powder Coating Process Innovation
Key Market Trends
- Introduction of Powder Pipeline Coatings
- Increasing Use for Coil Coatings
- High Demand for Functional Coatings
- Decrease in R&D Spending
Key Market Vendors
- Akzo Nobel NV
- Axalta Coating Systems LLC
- BASF SE
- PPG Industries Inc.
- The Jotun Group
- The Valspar Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
