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The Asia-Pacific epoxy powder coating market is expected to grow at a moderate pace during the forecast period 2018-2023. Due to the ongoing growth in the automotive and construction sectors in the country, China is estimated to lead the market. By end-user industry, the automotive sector is expected to record the fastest growth.
Rising Demand from the Building & Construction Industry
The construction industry in Asia-Pacific is expanding at a robust pace, primarily in major economies, such as China, India, and ASEAN countries. In China, various projects, such as developing airports (New Beijing Airport), building roads (30,000 km of highways, with construction and up gradation of bridges), high-speed rail covering of 30,000 km, are expected to cover more than 80 cities and contribute to 60% of the urbanization ratio with permanent residents. The Indian government's ‘Housing for All by 2022’ scheme is a major driver for the boom of the construction industry. The Indian government’s initiative to develop smart cities and build almost 30 million homes by 2022, is likely propel the demand for epoxy powder coatings. The Indian government has also announced highway projects worth USD 93 billion, including government flagship project National Highways Building Project (NHDP), with a total investment of USD 45 billion, over the years to come. The 2020 Olympics, which is set to take place in Japan, is expected to boost the construction of new commercial buildings. These factors are expected to increase the construction activity, which in turn, is likely to increase the usage of epoxy powder coatings.
Automotive - The Fastest Growing Type by End-user Industry
Epoxy powder coatings are commonly used throughout the automotive industry, as both basecoats and finishes, for a wide variety of automotive components. They are also used on trims, door handles, bumpers, radiators, break components, oil filters, shock absorbers, wheels, hubcaps, battery trays, and coil springs, to provide additional protection from the environment. The Chinese automotive industry recorded a YOY growth of 14.5% in 2016, reaching a total of 28,118,794 units. In 2016, more than 4.48 million units of vehicles were produced in India. Production of passenger vehicles (PV), light commercial vehicles (LCV), and heavy trucks registered YOY growth rates of 7.9%, 8%, and 9.9% respectively in FY 2016. India is also a prominent auto exporter, and is expected to witness robust growth in the export sector, over the forecast period. In FY 2016, the overall automobile exports grew by 1.91%, over FY 2015. The accelerating automotive production, coupled with the growing OEM market, is expected to drive the usage of epoxy powder coatings through the forecast period.
China to lead the market in Asia-Pacific
China is recognized worldwide for its architectural boom. The demand for low-cost housing and commercial housing is the reason for its growth in the recent years. China’s real estate sector has been growing rapidly, with increased investments by the government. With the increasing demand for power from the rising population and various end-user industries, the Chinese government has announced plans to construct new power generation units. The Chinese aerospace industry is rapidly growing and constructing new aircrafts, to meet the rising demand.
Major Players: AkzoNobel, Axalta, 3M, PPG, Beckers Group, and BASF, amongst others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market.
Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
To understand the dominating technology in the market.
Countries expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Rising Demand from the Building & Construction Industry
The construction industry in Asia-Pacific is expanding at a robust pace, primarily in major economies, such as China, India, and ASEAN countries. In China, various projects, such as developing airports (New Beijing Airport), building roads (30,000 km of highways, with construction and up gradation of bridges), high-speed rail covering of 30,000 km, are expected to cover more than 80 cities and contribute to 60% of the urbanization ratio with permanent residents. The Indian government's ‘Housing for All by 2022’ scheme is a major driver for the boom of the construction industry. The Indian government’s initiative to develop smart cities and build almost 30 million homes by 2022, is likely propel the demand for epoxy powder coatings. The Indian government has also announced highway projects worth USD 93 billion, including government flagship project National Highways Building Project (NHDP), with a total investment of USD 45 billion, over the years to come. The 2020 Olympics, which is set to take place in Japan, is expected to boost the construction of new commercial buildings. These factors are expected to increase the construction activity, which in turn, is likely to increase the usage of epoxy powder coatings.
Automotive - The Fastest Growing Type by End-user Industry
Epoxy powder coatings are commonly used throughout the automotive industry, as both basecoats and finishes, for a wide variety of automotive components. They are also used on trims, door handles, bumpers, radiators, break components, oil filters, shock absorbers, wheels, hubcaps, battery trays, and coil springs, to provide additional protection from the environment. The Chinese automotive industry recorded a YOY growth of 14.5% in 2016, reaching a total of 28,118,794 units. In 2016, more than 4.48 million units of vehicles were produced in India. Production of passenger vehicles (PV), light commercial vehicles (LCV), and heavy trucks registered YOY growth rates of 7.9%, 8%, and 9.9% respectively in FY 2016. India is also a prominent auto exporter, and is expected to witness robust growth in the export sector, over the forecast period. In FY 2016, the overall automobile exports grew by 1.91%, over FY 2015. The accelerating automotive production, coupled with the growing OEM market, is expected to drive the usage of epoxy powder coatings through the forecast period.
China to lead the market in Asia-Pacific
China is recognized worldwide for its architectural boom. The demand for low-cost housing and commercial housing is the reason for its growth in the recent years. China’s real estate sector has been growing rapidly, with increased investments by the government. With the increasing demand for power from the rising population and various end-user industries, the Chinese government has announced plans to construct new power generation units. The Chinese aerospace industry is rapidly growing and constructing new aircrafts, to meet the rising demand.
Major Players: AkzoNobel, Axalta, 3M, PPG, Beckers Group, and BASF, amongst others.
Reasons to Purchase this Report
To understand the impact of end-user applications on the market.
Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
To understand the dominating technology in the market.
Countries expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3 months analyst support along with the Market Estimate sheet (in excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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