Technavio has published a new report on the powder coatings market in Romania, which is expected to grow at a CAGR of nearly 7% from 2015-2019.
Powder coatings are a solvent-free product that facilitate a dry finishing process. The booming construction industry in Romania is expected to open up extensive growth opportunities for the market in the region.
“The Romanian government is focusing on infrastructural development and economic recovery following the Eurozone crisis. Under the General Transport Master Plan, the government is planning to invest a huge amount towards 408 miles of new highways by 2030,” said Faisal Ghaus, vice president of Technavio.
“Increased construction of residential and office buildings is also expected to contribute to the demand for powder coatings in Romania over the forecast period.”
Furthermore, the new market research report by Technavio emphasizes the increasing number of powder coating plants, as several industries are opting to outsource their powder coating needs to these plants.
The new Technavio report covers the present scenario and the growth prospects of the powder coatings market in Romania from 2015-2019. The report considers revenue generated from the sales of powder coatings to rank the leading vendors in the market and calculate the market size.
