The powder coatings market in Belarus to grow at a CAGR of 7.93% over the period 2014-2019. Powder coatings are solvent-free coating products used to provide a dry finish. They are known for their high-quality and durable finish. These coatings emit few volatile organic compounds and are, hence, eco-friendly. Powder coatings are composed of resins, additives, curing agents, extenders or fillers, and tinting pigments.
Introduction of powder pipeline coatings is one of the major trends being witnessed in the market. An increasing number of vendors in Belarus are focusing on the development of powder coatings in the pipeline coatings sector. With growing market saturation and high penetration of powder coatings in other applications, key vendors are targeting niche and high-value applications that are expected to offer strong growth opportunities.
According to the report, increase in demand from furniture industry is one of the major factors driving this market. The Belarusian government is focusing on infrastructural development and economic recovery, which will increase powder coatings use during the forecast period.
Further, the report states that high competition for indigenous vendors is posing a serious challenge to the market growth. Vendors based in Western Europe dominate the powder coatings market in Belarus. These vendors are currently pursuing aggressive market penetration strategies through acquisitions and by introducing new products.
Key Vendors include: AkzoNobel, Axalta Coating Systems, Helios Group, Jotun Group, PPG Industries, and Valspar. Other prominent vendors for this market include: BASF, Henkel, KNAUF, MAV, Naber Ploska, Nordson, Sherwin-Williams, and Tikkurila.
Key Questions Answered in this Report:
- What will the market size be in 2019 and what will the growth rate be?
- What are the key Market Trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?