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Asian Powder Coatings Markets
Frost & Sullivan, Nov 2006, Pages: 29
This Frost & Sullivan research service entitled Asian Powder Coatings Markets provides an overview of revenues and unit shipments, as well as analysis of key trends, challenges, and forecasts. In this research service, Frost & Sullivan's expert analysts examine the technological trends, competitive scenario, and regional variations in the Asian powder coatings market.
Favourable Economic Conditions and End-user Demand Boost the Asian Powder Coating Market
Since China’s inception into the WTO in 2001, the Asian paints and coatings market has witnessed tremendous growth that has been sustained by favourable economic conditions in the region. Despite the dominance of traditional solvent-based coatings, powder has made significant inroads into the Asian coatings market, primarily bolstered by demands from end-user industries such as metal furniture, automotive, and consumer appliances.
Demand for powder coatings has been aided by a multitude of factors. The rising disposable incomes of the consumers in the emerging markets and the expansionary policies of the Japanese and South Korean companies have been the chief drivers for the market. Moreover, growth in the automotive and the construction industry has also worked in favour of this market. 'The current growth levels are expected to prevail, with China spearheading the development of the market,' says the analyst of this research service.
Cost Benefits and Quality Influence the Switch to Powder Coatings
Many of the manufacturers in Asia are beginning to realize the cost benefits associated with the use of powder coatings. Though the initial set-up costs are very high, considering the margin crunch arising from the high raw material prices, the production and maintenance costs are relatively cheaper. More importantly, powder coatings have better durability, longer life, and superior performance properties. Developments in the powder coatings market have helped the manufacturers in overcoming, to an extent, challenges associated with coating complex three-dimensional objects.
'To sustain profitability in a market where rising raw material costs and competitive pricing command profit margins, manufacturers should start investing in cost-effective powder coatings technologies where the margins are higher,' advises the analyst. Powder coating systems involve lower maintenance costs, and eliminate the need of using solvents, thereby complying with the regulatory standards. The lower cycle time is definitely advantageous for manufacturers using powder coatings, as production costs come down considerably.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
Paints and Coatings
Automotive
Metal Furniture
Consumer Appliances
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