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POWDER COATING, March 2017 29 the PMI for January (56 percent) corre- sponds to a 4 percent increase in real gross domestic product (GDP) on an annualized basis. Anticorrosion coatings market to surpass $20 billion by 2025 OCEAN VIEW, Dela.—The anticorro- sion coatings market is expected to reach $20.21 billion by 2025. This is according to Anti-Corrosion Coatings Market, 2016- 2025, a report from Global Market In- sights, an industrial market research firm. Increasing energy demand will be the key factor propelling global anticorrosion coatings. These coatings find widespread application in the energy sector as it pro- tects the equipment used from extreme climatic circumstances. Primary metals leading index increases in December RESTON, Va.—The primary metals l e a d i n g i n d e x a n d i t s 6 - m o n t h smoothed growth rate both increased in December. After a pause in September, the primary metals leading index con- tinued an advance which began in De- cember 2015. Additionally, this is the eighth consecutive primary metals index growth rate above the +1.0 per- cent that could signal near-term strength in primary metals industry ac- tivity. In November 2016, the US non- ferrous metal products inventories growth rate recorded its eigth consecu- tive negative growth rate. The primary aluminum and primary copper 6- month smoothed growth rates posted seven and four consecutive months with growth rates above +1.0 percent. T h e s t e e l s c r a p p r i c e 6 - m o n t h smoothed growth rate turned negative in October interrupting a series of posi- tive growth rates April through Septem- ber 2016 before turning positive again in November and December. The primary metals leading index in- creased to 165.5 in December from a downwardly revised 162.4 in Novem- ber, and its 6-month smoothed growth rate increased to 9.1 percent in Decem- ber from a downwardly revised 6.1 per- cent in November. The index's 6- month smoothed growth rate is a com- pound annual rate that measures the near-term trend. Usually, a growth rate above +1.0 percent signals an increase in metals activity, and a growth rate below -1.0 percent indicates a downturn in ac- tivity. The leading index will be subject to revision when the other components are added next month. Thermosetting powder coatings market closely analyzed ALBANY, N.Y.—Growing demand from the automotive industry is ex- pected to drive the thermosetting pow- der coatings market from now until 2024. Automotive components, in- cluding interior and external metal parts, require coatings to protect them from weathering conditions. Further growing demand for thermosetting powder coatings in various industrial component manufacturing is antici- pated to boost the market. This is ac- cording to Thermosetting Powder Coat- ings Market — Global Industry Analysis, Size, Share, Growth, Trends, and Fore- cast, 2016-2024, a new market report offered by Transparency Market Re- search, an industrial research firm. Asia-Pacific has emerged as the largest market for thermosetting powder coat- ings market in terms of production and consumption. China is the largest con- tributor in terms of thermosetting pow- der coatings production. Developing re- gions in Asia-Pacific are expected to ex- hibit strong growth in the near future. Europe follows Asia-Pacific in terms of consumption of thermosetting powder coatings. North America is the third largest market due to stagnated demand. The demand is expected to increase in the region due to increased availability of low cost energy that will reduce the cost of applying powder coatings. US manufacturing technology orders increase slightly MCLEAN, Va.—Manufacturing tech- nology orders finished 2016 down 4.0 percent compared to 2015. Month over month, December orders were up 20.6 percent compared to November. This is according to the Association for Manu- facturing Technology (AMT) as re- ported by companies participating in the United States Manufacturing Tech- nology Orders (USMTO) program. As orders have pulled to near-even with levels seen before the latest dip, the gen- eral manufacturing economy is show- ing signs of growth. The January PMI from the Institute for Supply Manage- Manufacturing sector's economic activity expands in January TEMPE, Ariz.—Economic activity in the manufacturing sector expanded in January, and the overall economy grew for the 92nd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. The report is based on data compiled from purchasing and supply executives nationwide. The January PMI registered 56 percent, an increase of 1.5 percentage points from the seasonally adjusted December reading of 54.5 percent. The New Or- ders Index registered 60.4 percent, an increase of 0.1 percentage point from the seasonally adjusted December read- ing of 60.3 percent. The Production Index registered 61.4 percent, 2 per- centage points higher than the season- ally adjusted December reading of 59.4 percent. The Employment Index regis- tered 56.1 percent, an increase of 3.3 percentage points from the seasonally adjusted December reading of 52.8 per- cent. Inventories of raw materials regis- tered 48.5 percent, an increase of 1.5 percentage points from the December reading of 47 percent. The Prices Index registered 69 percent in January, an in- crease of 3.5 percentage points from the December reading of 65.5 percent, in- dicating higher raw materials prices for the 11th consecutive month. The PMI, New Orders, and Production Indexes all registered their highest levels since November of 2014. Manufacturing expanded in January as the PMI registered 56 percent, an in- crease of 1.5 percentage points from the seasonally adjusted December reading of 54.5 percent, indicating growth in manufacturing for the fifth consecutive month. A reading above 50 percent in- dicates that the manufacturing econ- omy is generally expanding; below 50 percent indicates that it is generally con- tracting. A PMI above 43.3 percent, over a period of time, generally indicates an expansion of the overall economy. The past relationship between the PMI and the overall economy indicates that UPDATE: Markets