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According to the latest research report, the market value of powder coatings in Southeast Asia was $227.7 million in 2015, and is expected to reach $295.2 million in 2022. The compound annual growth rate will reach 4.2% in 2016-2022.

Indonesia is the largest powder coatings market in Southeast Asia and will maintain this position in the next six years.

The growth of powder coating market in this area is mainly attributed to the progress of technology and the demand of construction, household appliances, automobile, furniture, ACE (agriculture, construction, engineering equipment) and general industry. In addition, the increasingly strict environmental protection regulations also promote the growth of powder coatings in the region. In the past few years, the powder coatings market in Southeast Asia has grown steadily.

The increasingly stringent environmental regulations are promoting powder coatings to replace liquid coatings. The growing demand for home appliances, buildings and automobiles, as well as the rapid economic growth in Southeast Asia are important driving factors for the growth of powder coatings in the region.

The Indonesian market is dominated by thermosetting powder coatings, which can provide excellent weather resistance, low maintenance cost and prolong the service life of coated parts. The reusable characteristics of powder coatings over sprayed powder ensure its high efficiency.

Home appliances are the most important application field of powder coatings market in Malaysia and the Philippines, which is expected to grow at an annual growth rate of 4.4%.

Construction is the most important application field of powder coatings market in Singapore, with an annual compound growth rate of 3.3% in the future.

Automobiles and household appliances are the main application areas of powder coatings market in Thailand.

Polyester resin based powder coating is the most important powder coating product in Singapore market, with a compound annual growth rate of 3.9%.

The main powder coating enterprises in Southeast Asia include AkzoNobel, Jordan, PPG, axalta, Xuanwei, BASF, Nippon, Earl of India coatings, etc., and local enterprises also occupy an important position.

Author: dede58.com