With one of the highest standards of living, Canada is similar to the United States as an international leader in per capita coatings consumption rates at 8.4 kg/person.
The global powder coatings market is an emerging market in the coatings industry and is projected to reach $12.48 billion by 2020, according market research firm Grand View Research Inc.
Despite some challenges the outlook is positive, with steady growth across a number of sectors, from an increase in single-family construction and residential green building, to the growing remodeling market, to the expected entrance of millennials into the home-buying market.
Driven by large and widespread feedstocks and government incentives, Southeast Asia is positioned to be a hub for biobased materials and chemicals (BBMC), according to Lux Research.