Albany, NY, Nov. 19, 2014 (GLOBE NEWSWIRE) -- Transparency Market Research, in its latest study, says that that in 2011 the demand for power coating products was 1,680.0 kilo tons globally, whereas by 2018 the demand will surge to 2,667.6 kilo tons. The global powder coatings market, by demand, will thus register a healthy CAGR of 6.8%. The report titled 'Powder Coatings Market for Automotive, Electronics, Architectural and Industrial Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018' also finds that in revenue terms, the global powder coatings market will be worth US$10.5 billion by 2018, growing from US$6.5 billion in 2011 marking a CAGR of 7.2%.

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The market research report offers significant insight into the global powder coating industry, complete with market opportunities, drivers and restraints, and an overview of the competitive dynamics. All forecasts and estimates pertain to the forecast period ranging from 2012 to 2018.

According to the findings of the report, it is the BRICS area that will present some lucrative growth opportunities for various industries in the powder coatings market. Much of this growth will be centered on the surging demand for furniture, automotives, household appliances, and architectural components.

In addition to the abovementioned positive factors, environmental agencies' (e.g. REACH and EPA) emphasis on powder coating mechanisms are proving to be favorable to the overall powder coatings market.

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Despite this, the market will have to find ways to overcome technical and manufacturing concerns such as the application of ultra thin coats, or coatings with uneven thickness at the edges of products, and problems such as thin coatings on inside corners of various products.

Then, the industry also needs to find effective solutions to other problems such as limitations on colors as pigmented often don't blend very easily.

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The market research report also states that in 2011, the household and cooking appliances segment accounted for about 20% of the global powder coatings market. In the coming years, the automotive sector will spur considerable demand for powder coatings. The report finds that demand from the automotive sector will rise at a 7% CAGR over the forecast period of this report.

It also emerges from the findings of the study that, by region, Asia Pacific will be the largest segment in the global powder coatings market. Many different industries will thrive simultaneously in this region, creating robust demand for powder coating across various applications. According to the report, in 2011 alone, this market consumed over 700 kilo tons.

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Some of the leading names in the global powder coatings market profiled in this report include: PPG Industries, Kansai Paints, DuPont, AkzoNobel, Sherwin-Williams, BASF, Nippon Paints, Valspar, and Jotun.

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