📊2032 Forecast: According to Precedence Research’s data, the global powder coatings market size was around EUR 13.54 billion. It is projected to reach over EUR 23.4 billion by 2032, with a compound annual growth rate (CAGR) of 5.62 % from 2023 to 2032.
📈 Predictions for 2023: With known supply chain problems, issues related to gas prices, potential natural disasters and geopolitical instability, many experts predicted a recession and uncertainty in 2023. Contrary to forecasts, the actual picture shows an increase in revenues in many businesses. Despite challenges, the powder coatings market shows resilience and evolution. The recovery is expected to start already in the first quarter of 2024.
🔍 The response of the Companies: Despite uncertainties, companies in the powder coatings industry are resourceful and growing. Investment in new technologies is their response to this challenging period.
Source: European Coatings