The powder coatings market is estimated to exceed US$16.5bn by 2024, according to a new research report by Global Market Insights, Inc.
Strong business outlook with versatile applications including architectural, agricultural/construction equipment, decorative, A&T components and outdoor furniture are among the key factors propelling the powder coating market share.
A shifting consumer focus towards the adoption of new green building construction techniques, along with surging preferences towards eco-friendly building materials will accelerate the overall industry scenario in the projected timeframe.
The report states that the incorporation of new and sustainable solutions and rapid technological advancements to meet the efficiency, durability, and environmental requirements will fuel the powder coating market expansion.
As well as this, consumer preferences towards powder variants due to the major properties including durability, corrosion resistance and high lustre and shine will further augment the product portfolio.
Favorable government policies and regulations pertaining to the reduced use of materials containing toxic chemicals and high VOC content will boost the powder coating market growth.
The full report can be obtained here.