The latest research report shows that the Southeast Asia powder coating market was worth US$222.7 million in 2015, and is expected to reach US$295.2 million in 2022, with a compound annual growth rate of 2016-2022 The rate will reach 4.2%.
Indonesia is the largest powder coatings market in Southeast Asia and will maintain this position over the next 6 years.
The growth of the powder coating market in this region is mainly attributed to technological advancement and sectors such as construction, home appliances, automotive, furniture, ACE (agriculture, construction, engineering equipment), and general industry demand, in addition to increasingly stringent environmental regulations, are also driving the growth of powder coatings in the region. Over the past few years, the powder coating market in Southeast Asia has grown steadily.
Increasingly stringent environmental regulations are driving powder coatings to replace liquid coatings, while the growing demand for home appliances, construction and automobiles, as well as the rapid economic growth in Southeast Asia, are all factors that drive powder coatings in the region. An important driver of coatings growth.
The Indonesian market is dominated by thermosetting powder coatings, which can provide excellent weather resistance, low maintenance costs and extend the service life of painted parts. Over-dusting of powder coatings can The reusability feature ensures its efficient use.
Home appliances are the most important application areas of the powder coating market in Malaysia and the Philippines, and are expected to grow at an annual growth rate of 4.4%.
Construction is the main application area of Singapore’s powder coating market, with a compound annual growth rate expected to be 3.3% in the future.
Automobiles and home appliances are the main application areas of Thailand’s powder coating market.
Polyester resin powder coating is the most important powder coating variety in the Singapore market, with an expected compound annual growth rate of 3.9%
The main powder coating companies in Southeast Asia include AkzoNobel, Jotun, PPG, Axalta, Sherwin-Williams, BASF, Nippon Paint, Earl Paint of India, etc. Local companies also play an important role status.
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