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The North America Epoxy Powder Coating market is expected to grow at a moderate rate during the forecast period, 2018 to 2023. United States is estimated to lead the market owing to its rapid growth in the construction and automotive industry. Building & construction sector is expected to be the fastest growing type by end-user industry.
Soaring Demand for Eco-friendly Coatings
The construction industry is, by far, the largest consumer of epoxy powder coatings. With a rising number of building codes that promote eco-friendly and energy-efficient structures, home builders and consumers are gradually moving toward building strategies that deliver performance and energy savings in the long run. Growing infrastructure in the United States, which is one of the major consumers of epoxy powder coatings, is driving the market. In the United States, the overall construction market grew by 2.3% in Q4 of 2017 over Q4 2016, owing to the rise in new single-family house constructions. The U.S. Environmental Protection Agency (EPA); Architectural and Industrial Maintenance (AIM), a government initiative in North America, was adopted to improve human health and the environment from the risks that can be constituted by chemicals, while enhancing the competition in the North American chemicals industry. This is increasing the demand for coatings with low-VOC content, such as epoxy powder coatings.
Building & Construction - The Fastest Growing Type by End-user Industry
Epoxy powder coatings are extensively used in the building & construction sector as they are extremely resistant to abrasion, liquid penetration, heat, corrosion, de-icers, UV rays, and chemical attack. They are also economical and environment-friendly because these coatings do not contain solvents and emit virtually no hazardous air pollutants (HAPs) or volatile organic compounds (VOCs). The new residential construction in terms of annual rate for housing units started in the United States, recorded growth of 6.34% in 2016 over 2015. In the first 11 months of 2017, new residential construction recorded a growth of 2.49% when compared to the same time period in 2016. These factors are expected to increase the construction activity, which, in turn, is likely to increase the usage of epoxy powder coatings.
United States to Lead the Market in the North American Region
The United States is competing toward complete transformation of its diesel buses into zero-emission buses. As of 2016, the United States had over 300 individual zero-emission buses operating in transit fleets throughout the nation. Electrical buses are fast gaining importance and their production is set to grow rapidly in the coming years. Shifting trend toward electrical vehicles, due to rise in environmental regulations, is the major factor influencing the coatings. The residential house sales, in terms of annual rate for new single-family houses sold in United States, recorded growth of 11.61% in 2016 over 2015. In the first 11 months of 2017, the residential house sales recorded a growth of 9.44% when compared to the same time period in 2016. Increase in solar capacity by more than 90% in the past two years is set to drive the growth of the renewable energy sector in the United States. All these factors are expected to rapidly drive the market for epoxy powder coatings in the United States during the forecast period.
Major Players: AkzoNobel, Axalta, 3M, PPG, Beckers Group, and BASF, amongst others.
Reasons to Purchase the 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-month 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.
Soaring Demand for Eco-friendly Coatings
The construction industry is, by far, the largest consumer of epoxy powder coatings. With a rising number of building codes that promote eco-friendly and energy-efficient structures, home builders and consumers are gradually moving toward building strategies that deliver performance and energy savings in the long run. Growing infrastructure in the United States, which is one of the major consumers of epoxy powder coatings, is driving the market. In the United States, the overall construction market grew by 2.3% in Q4 of 2017 over Q4 2016, owing to the rise in new single-family house constructions. The U.S. Environmental Protection Agency (EPA); Architectural and Industrial Maintenance (AIM), a government initiative in North America, was adopted to improve human health and the environment from the risks that can be constituted by chemicals, while enhancing the competition in the North American chemicals industry. This is increasing the demand for coatings with low-VOC content, such as epoxy powder coatings.
Building & Construction - The Fastest Growing Type by End-user Industry
Epoxy powder coatings are extensively used in the building & construction sector as they are extremely resistant to abrasion, liquid penetration, heat, corrosion, de-icers, UV rays, and chemical attack. They are also economical and environment-friendly because these coatings do not contain solvents and emit virtually no hazardous air pollutants (HAPs) or volatile organic compounds (VOCs). The new residential construction in terms of annual rate for housing units started in the United States, recorded growth of 6.34% in 2016 over 2015. In the first 11 months of 2017, new residential construction recorded a growth of 2.49% when compared to the same time period in 2016. These factors are expected to increase the construction activity, which, in turn, is likely to increase the usage of epoxy powder coatings.
United States to Lead the Market in the North American Region
The United States is competing toward complete transformation of its diesel buses into zero-emission buses. As of 2016, the United States had over 300 individual zero-emission buses operating in transit fleets throughout the nation. Electrical buses are fast gaining importance and their production is set to grow rapidly in the coming years. Shifting trend toward electrical vehicles, due to rise in environmental regulations, is the major factor influencing the coatings. The residential house sales, in terms of annual rate for new single-family houses sold in United States, recorded growth of 11.61% in 2016 over 2015. In the first 11 months of 2017, the residential house sales recorded a growth of 9.44% when compared to the same time period in 2016. Increase in solar capacity by more than 90% in the past two years is set to drive the growth of the renewable energy sector in the United States. All these factors are expected to rapidly drive the market for epoxy powder coatings in the United States during the forecast period.
Major Players: AkzoNobel, Axalta, 3M, PPG, Beckers Group, and BASF, amongst others.
Reasons to Purchase the 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-month 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
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