Southeast Asia powder coatings market is expected to grow steadily2017.03.03 09:04
The latest research report shows that the market value of Southeast Asia powder coatings in 2015 was $222 million 700 thousand, while in 2022 is expected to reach $295 million 200 thousand，the compound annual growth rate is up to 4.2%.
Indonesia is the largest powder coating market in Southeast Asia and will remain in the position for the next 6 years.
The growth of the powder coatings market in this region is mainly due to technological advances and the needs of construction, home appliances, automobiles, furniture, ACE (agriculture, construction, engineering equipment), and general industry. In addition, the increasingly stringent environmental regulations also contributed to the growth of powder coatings in the region. Over the past few years, the powder coating market in Southeast Asia grew steadily.
The increasingly stringent environmental regulations are driving the replacement of liquid coating to powder coating, and household appliances, construction and automotive demand increasing, as well as the rapid economic growth in Southeast Asia are important factors to promote the growth of powder coatings in the region.
The thermosetting powder coatings is the leading in Indonesia market, which can provide excellent weatherability, low maintenance cost and prolong the service life of a coating, and powder coating and a dusting of reusable properties to ensure its efficient use.
The home appliance is the most important application area in powder coating market of Malaysia and Philippines, and is expected to grow at an annual rate of 4.4%.
The construction is the most important application area of the powder coating market in Singapore, and the composite growth rate is expected to be 3.3%.
The automotive and household appliances are the most important application areas of Thailand powder coatings market.
The polyester resin powder coating is the most important powder coating in Singapore market, and the compound annual growth rate is expected to 3.9%.
The main powder coating enterprises in Southeast Asia including AKZO NOBEL, Jotun, PPG, Axalta, Xuanwei, BASF, Nippon Paint, Berger India, local enterprises also occupy an important position.