Powder Coatings Equipment Market Is Likely To Witness Substantial Growth Owing To Rising Demand For Powder Coatings In Automotive Sector
Powder coatings equipment are used in various products including shock absorbers, battery trays, refrigerators, air conditioner cabinets, water heaters, doorframes, mobiles, computers, satellite dishes, and fire extinguishers. Growing demand for these products in China, India, South Korea, Brazil and South Africa on account of growing population and rising income levels is expected to drive market growth.
Increasing demand for powder coatings over liquid coatings on account of its eco-friendly nature is expected to stimulate equipment demand over the forecast period. The increase in automobile production in China, Indonesia, Malaysia, and Germany is estimated to spur the market size.
Abundant availability of raw material including stainless steel, glass, and plastics in the U.S. and China is anticipated to propel industry growth over the next eight years. Surging demand for metals in emerging markets of Asia Pacific and Middle East owing to the growth of the automotive, and construction sectors is expected to promote industry growth. Growing private and public investments for iron & steel industry is estimatedto influence the market size positively.
Global powder coatings market demand, 2013-2024 (Kilo Tons)
Asia Pacific is expected to witness significant rise on account of a positive outlook towards construction industry in China, India, Japan, South Korea, Malaysia, Indonesia and Vietnam. Furthermore, increasing population in China and India coupled with favorable government regulations aimed at generating investments from public-private partnerships, and foreign direct investments are expected to fuel equipment consumption over the next eight years.
Continuous investment by key players on R&D, growing foreign direct investments and favorable government initiatives such as “Make in India” and “Made in China 2025” for the development of the industrial sector is expected to create immense growth opportunities over the upcoming years.
Swift industrialization in Brazil, Chile and Argentina will aid industry expansion. Growing demand for consumer goods & appliances is anticipated to drive the market growth over the upcoming years.
The market is highly competitive in nature owing to the presence of numerous big and small scale manufacturers including Carlisle, Nordson Corporation, Gema Switzerland GmbH, Mitsuba Systems Pvt. Ltd., Parker Ionics, WAGNER and Hangzhou Color Powder Coating Equipment Co., Ltd.
In March 2016, Gema Switzerland GmbH introduced OptiFlex 2 FE Manual Unit including gun and injector having high-performance ceramic materials. In August 2014, Parker Ionics launched GX8500 Manual Hand Guns for powder coating applications.
Hangzhou Color Powder Coating Equipment has been aiming at expansion by increasing its production capacity. In May 2016, the company installed new powder coating line in Indonesia to meet the increasing demand in the country. Product innovation along with R&D activities by various major players such as Nordson, Gema, and WAGNER to produce high lightweight and the high-efficiency product will create immense market potential over the forecast period.
In-depth report on global powder coatings equipment market by Grand View Research:
https://www.grandviewresearch.com/industry-analysis/powder-coatings-equipment-market