Technavio, an independent tech-focused global research firm has announced the publication of its market research report on the powder coatings market in Italy 2015-2019. One of the latest trends emerging in the market is the increased demand from coil coatings applications. Such applications are relatively new and account for a minor share of the powder coatings market in Italy, since alternative technologies are predominantly used for coil coating purposes. The powder coatings market in Italy is expected to grow at a CAGR of 1.61 percent during the forecast period 2014-2019.
Increase in demand for application on medium-density fiberboard (MDF) is expected to drive the market growth during the forecast period. Vendors of MDF are increasingly opting for thermoset powder coatings over liquid-based alternatives, as they offer durability and design freedom.
“The powder coatings market in Italy has recently seen the introduction of various types of functional coatings like flexible elastic coatings, thin-film coatings, scratch resistant coatings, stress cracking coatings, and anti-graffiti coatings,” said Faisal Ghaus, vice president of Technavio Research.
“Vendors in the market collaborate closely with customers and provide customized powder coatings for niche applications. It is expected that the use of functional powder coatings in Italy will expand, as compared to other powder coating categories.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
