South East Asia (SEA) Powder and Liquid Coatings Market Latest Trends and Future Opportunities Analysis to 2022

PORTLAND, OREGON, UNITES STATE, January 17, 2024 /EINPresswire.com/ -- A new report published by Allied Market Research, titled, "South East Asia (SEA) Powder and Liquid Coatings Market, by Type, by Resin Type, by Coating Method, and by Application: Opportunity Analysis and Industry Forecast, 2014 - 2022," projects that the SEA powder coatings market is expected to reach $295.9 million by 2022 from $222.7 million in 2015, with a CAGR of 4.2% from 2016 to 2022. The Indonesian powder coatings market is anticipated to remain the highest revenue contributor among other countries.

The demand for powder coatings has increased owing to the growth in technological advancements and increase in demand from applications such as architectural; appliances; automotive; furniture; agriculture, construction & earthmoving equipment (ACE); general industrial; and others. In addition, stringent environmental regulations boost the growth of this market. The market has witnessed steady growth during the past few years, and is expected to grow at a CAGR of 4.2%, in terms of value, during the forecast period.

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According to Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market Research, "Increase in adoption of powder coatings over liquid coatings, supportive environmental regulations, rise in demand for appliances, growth in construction & automotive industry, and rapid economic growth in the South East Asian countries are the major factors that accelerate the growth of the market."

In the year 2015, the thermoset powder coatings segment dominated the Indonesian market, as these coatings provide superior finish with excellent durability that reduces maintenance cost and prolongs the shelf life of the coated products. Moreover, stringent regulations have led to increased penetration of powder coatings over liquid coatings. Powder coating overspray can be recycled and reused, which ensures optimal utilization of the coating material. Powder coatings in appliances application segment generated the highest revenue in the Malaysian powder coatings market.

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Key findings of the study
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.

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Indonesia showed the largest growth, in terms of revenue, for the powder coatings market in the ASEAN countries. Automotive, appliances, architectural, and general industrial are the major application areas of powder coatings in these countries. The development in application industries in Thailand, Indonesia, Vietnam, Singapore, Philippines, and Malaysia is expected to propel the market growth. Furthermore, improvement in economies of the countries is projected to boost the market growth.

Prominent players profiled in this report include AkzoNobel, Jotun, PPG Industries, Axalta, Sherwin Williams, BASF SE, Nippon Paints Holdings Co., Ltd., Berger Paints India Ltd., Evonik Industries, Solvay, and others. Local players also hold a prominent position in the powder coatings market.

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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