Powder Coatings Equipment Market Trends, Statistics, Segments and Forecast to 2024

The market is expected to witness significant gains over the forecast period on account of increasing usage of powder coatings in automotive, consumer goods, architectural, furniture, general industries and defense applications.

The Global Powder Coatings Equipment Market is expected to reach USD 2.14 billion by 2024, according to a new report by Grand View Research, Inc.

Rising demand for furniture and other architectural products such as windows and aluminum extrusions are expected to increase the industry size over the next eight years. Manufacturers are offering coatings booth made up of 18-gauge galvanized metal, for improving durability as well as reduce costs associated with installation.

Powder coat guns are expected to witness significant growth at a CAGR of 7.5% owing to its benefits including lightweight and easy color change. Furthermore, consumption of guns for spraying of powder coatings on metals, ceramics, glass and plastic surfaces is likely to augment demand over the upcoming years.

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Automotive accounted for 20.8% of the overall industry share in 2015 and is likely to witness the fastest growth over the forecast period. This trend is expected to continue on account of rising requirements of powder coatings for a broad range of applications including bodywork, trim, aluminum wheels, and in-mold light weight components.

Top Players of Powder Coatings Equipment Market:

The presence of various automotive players including Ford, General Motors, Chevrolet, Mercedes-Benz and Dodge is expected to fuel the product demand over the upcoming years.

Market Segmentation of Powder Coatings Equipment Market:

The Global Powder Coatings Equipment Market segmented on the basis of Product and Application.

By Product:

    Ovens & booths
    Powder coat guns

By Application:

    Consumer goods
    Architectural
    Automotive
    General industries
    Furniture

Inquire about Powder Coatings Equipment Market with Our Experts @ https://www.grandviewresearch.com/inquiry/3342

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