South East Asia Market for Powder Coatings to See 4.2% CAGR till 2022, Predicts Allied Market Research in Its New Report Available at MarketPublishers
25 Jan 2017 • by Natalie Aster
LONDON – The South East Asian market for powder coating was evaluated at over USD 222 million in the year 2015. This regional market is predicted to see steady growth in the next 5 years, registering a 4.2% CAGR. The value of the powder coatings market in South East Asia is anticipated to exceed USD 295 million by the year 2022.
Major factors encouraging growth in the powder coatings market in South East Asia include favourable environmental regulations, strong demand for appliances, upturn in the construction industry, rising adoption of powder coatings over liquid ones and rapid economic development in emerging countries.
Powder coatings offer increased shelf life of products due to their superior finish and durability features. They are recognized as highly desirable from an ecological view, as they are produced and used without organic solvents. All these benefits are also expected to have positive influence on the market growth.
At present, Indonesia captures the major share of the South East Asian market for powder coatings. This is attributed to increasing disposable incomes of the country’s population and upturn in key end-use industries.
New topical report “South East Asia (SEA) Powder and Liquid Coatings Market by Resin Type, Coating Component, by Coating Method - Opportunity Analysis and Industry Forecast, 2014-2022” prepared by Allied Market Research explores the current scenario in the powder coatings market in South East Asia. It contains detailed analysis of some country-wide markets in the region, uncovers trustworthy statistics, discusses top trends and emerging opportunities, highlights the major factors influencing the market development. Additionally, the report includes forecasts for the SEA powder coatings market through 2022.
For other insightful research studies by the publisher, follow to the Allied Market Research page at MarketPublishers.com.