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AkzoNobel Begins Construction of New Powder Coatings Facility in India

India: AkzoNobel N.V., a Netherlands based manufacturer and distributor of decorative paints, performance coatings and specialty chemicals, has commenced construction of its new powder coatings production plant in Mumbai, India. The company plans to invest USD10.04 million to expand its powder coatings business in the country. The upcoming facility would manufacture new products such as bonded metallic powders and localised products to cater the pipe and re-bar coatings market in India. According to Simon Parker, the managing director of powder coatings division at AkzoNobel, the powder coatings market has been growing at double-digits rate in India and the country is considered as the most important strategic markets to invest in by the company. The new plant is scheduled to be put into operations by late-2017 and would focus on customers across north and west of India.

TechSci Research depicts that the set-up of new production facility of powder coatings will help position AkzoNobel N.V. as a leading player in the powder coatings market in India. Furthermore, expanding powder coatings facilities in India would generate augmented demand for pigments in the country

According to the recently published report by TechSci Research, “Global Pigments Market By Type (Inorganic, Organic and Specialty), By Application (Paints and Coatings, Plastics, Printing Inks, Construction and Others), Competition Forecast and Opportunities, 2011 – 2021” global pigments market size is estimated to cross USD34 billion by 2021. Segment-wise, inorganic pigments dominated the overall market in 2015, and this trend is anticipated to continue through 2021. During 2016-2021, the demand for pigments is anticipated to be largely influenced by paints & coatings industry and construction sector, which are witnessing steady growth on account of rising purchasing power of consumers and expanding middle class population across the globe, especially in major developing economies

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