| A01476 | Pages: 455 | Dec 2016 | 14026 Views | ||
| Author(s) : Sneha Nathwani | Tables: 192 | Charts: 118 |
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Request Now !South East Asia (SEA) powder coatings market was valued at $222.7 million and is expected to grow at a CAGR of 4.2% from 2016 to 2022 to reach $295.9 million. Powder and liquid coatings possess significant durability and superior properties such as resistance to scratching, corrosion, abrasion, and chemicals. Powder coatings overspray can be reused, leading to maximum utilization and cost cutting. They offer maximum compliance with the increasing environment regulations as there are no solvents in these coatings, leading to rise in their acceptance over liquid coatings.
Powder coatings are preferred owing to their eco-friendly nature and cost competitiveness as compared to liquid coatings, which are expensive and contain volatile organic compounds (VOCs). Moreover, government is taking initiatives to limit the use of solvents in coatings that contain VOCs to promote eco-friendly powder coatings in Indonesia. In addition, increase in investment in infrastructure improvement is set to drive the South East Asia (SEA) powder and liquid coatings market. The government of Indonesia has invested $40 billion to improve infrastructure in Indonesia from 2005 to 2014, thus fueling the growth of the construction industry, which shows high adoption of powder coatings. Such initiatives are anticipated to accelerate the adoption of powder and liquid coatings in Indonesia, creating opportunities for global players. Collectively, growth of the end-user industry for powder and liquid coatings in Indonesia is expected to propel its market growth throughout the forecast period.
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Indonesia Powder and Liquid Coatings Market Review:
Indonesia witnesses growth at the highest rate among all the SEA countries owing to growth in consumption of powder and liquid coatings in various application industries, including automotive, general industrial, and domestic appliances. Increased focus on technological advancement, environment compatibility, and sustainable products curtailing low-cost products that are less focused on product quality is an ongoing trend in the Indonesian market. In addition, customers prefer eco-friendly products that offer more functionality. Thus, the manufacturers of powder coatings such as Jotun, Axalta, and AkzoNobel are undergoing rigorous R&D to cater to the demand for advanced powder coatings in Indonesia.
INDONESIA POWDER COATINGS MARKET VALUE SHARE IN APPLIANCES, 2015 (%)
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Malaysia Powder and Liquid Coatings Market Review:
Government initiatives, such as incentives and subsidies to promote adoption of eco-friendly coatings, drive the growth of the powder coatings market in Malaysia. The need for green and sustainable construction is expected to supplement the market growth, creating opportunities for major global players to establish a strong foothold. Key players such as AkzoNobel, Axalta, BASF, Henkel, PPG Industries, Sherwin-Williams, Valspar, Kansai, and others possess expertise for the development of green coatings, facilitating their growth at a global platform. Thus, these key vendors are making investments with an aim to capture the potential market for powder coatings by developing green coatings.
MALAYSIA POWDER COATINGS MARKET VALUE SHARE IN GENERAL INDUSTRIAL - REBAR, 2015 (%)
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Vietnam Powder and Liquid Coatings Market Review:
Investment by major participants is a key trend in the powder and liquid coatings market in Vietnam. Rapid increase in the economy attracts significant investment by key players in the market. For instance, AkzoNobel invested in the performance coatings business in Vietnam by setting up a new production line, which became functional in November 2015. This new production unit is set to be supported by an increase of 20% in the workforce, with an objective to serve a strategic market along with the nearby region. Another such example is inauguration of production plant in Vietnams northern province of Vinh Phuc in 2014. In addition, other global and local players plan to invest in Vietnam to capture the market potential, thus fueling growth.
VIETNAM POWDER COATINGS MARKET VALUE SHARE, 2015 (%)
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This South East Asia (SEA) powder and liquid coatings report includes profiles of leading 10 powder coating suppliers and top 10 customers in each region. Some of the key players profiled in the report include Jotun, Solvay, BASF SE, AkzoNobel N.V., Kansai Nerolac Paints Limited, Axalta Coating Systems, PPG Industries, The Valspar Corporation, RPM International, The Dow Chemical Company, The Sherwin Williams Company Berger Paints, and others.
Leading customers profiled in the report include Delphi Automotive, Caterpillar Inc., General Electric Company, Electrolux, Whirlpool Corporation, Komatsu, Robert Bosch GmbH, General Motors, Continental AG Corporation, and others.
South East Asia (SEA) Powder and Liquid Coatings Market Key Benefits
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Powder coatings offer efficient finishing, as there are no runs, drips, or sags on the coated substrates. The powder coating production process is carried out more efficiently as compared to other standard painting process, as no drying or flash-off time is required in case of powder coatings. The production lines of powder coating produce less hazardous waste and minimal workplace hazards. The recyclability of air into the plant is possible due to lower exhaust volumes. In addition, powder coatings offer a wide range of both extreme and decorative performance properties, with varied colors and textures in both high and low gloss. This leads to optimum utilization of powder coatings, resulting in cost saving, thereby driving the growth of the market.
The need for better infrastructure is on a rise owing to increase in investment and growth in number of industries. Rapid industrialization has increased the demand for metal coatings to support infrastructure requirements. Growth in urbanization and population in the developing countries had led to the development of better infrastructure. These factors eventually increase the demand for powder coatings to cater to the industrial and consumer demand. In addition, increase in investment in infrastructure improvement is set to drive the market. The government of Indonesia has made a significant investment of $40 billion to improve the infrastructure in Indonesia from 2005 to 2014, thus fueling the growth of construction industry, where powder coatings have high adoption. Such initiatives are anticipated to propel the adoption of powder coatings in Indonesia, creating opportunities for global players. Collectively, the growth of the end-user industry for powder coatings in Indonesia is expected to fuel market growth throughout the forecast period.
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