Powder Coating Market Analysis, Trends Analysis & Industry Growth Report, 2023-2030
GMI Research analysis indicates that the Powder Coatings Market size was estimated at USD 14.3 billion in 2022 and is slated to register a single digit CAGR of 5.1% over the forecast period, and is projected to reach USD 21.3 billion in 2030
Powder Coatings Market Overview
Powder coating is a type of coating which is a free-flowing and dry powder. It is different from unconventional liquid paint, which is delivered through an evaporating solvent. The powder coating is usually applied electrostatically and then cured under UV or heat. Powder coating forms a protective layer that is much harder than obsolete paint. It is standard for both indoor and outdoor applications and is popular for providing extreme results.
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Major Powder Coatings Market Drivers
The factors fueling the powder coatings market growth includes accelerating disposable income, changing consumer preferences, growing concerns pertaining the Volatile organic compounds (VOC) emissions, and strategic government initiatives to encourage the use of powder coatings. Increasing adoption of powder coatings in furniture sector owing to their remarkable properties such as lower operational cost, superior performance, and anti-corrosion and anti-bacterial functions will augment the market growth. Moreover, the solvent-free property of combustion reduces the risk in combustion during storage and application which is another factor propelling the powder coatings market size.
Powder coatings offer enormous advantages over other coatings, such as lower operating costs, quick availability, excellent appearance, and uniform thickness which makes them suitable for automotive, furniture, construction, and agriculture industries which will bolster the market growth. Other factors including rising adoption of eco-friendly powder coatings, increasing investment by government organizations on infrastructural projects and the rising demand for medical devices are projected to augment the market growth. However, volatility in the prices and shortage of raw material might impede the market growth.
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Type – Segment Analysis
Based on the type, polyester based is expected to dominate the global powder coatings market over the forecast period. Thermoplastic polyester powder materials have adhesion properties without the need for a primer. They also exhibit good UV resistance and weatherability. Polyester based coatings offer benefits for the end-users and architects, manufactures or designers.
Application – Segment Analysis
Based on the application, consumer goods is expected to dominate the global powder coatings market over the forecast period. The use of powder coatings is widely adopted in consumer goods like small appliances, water heaters, electric ranges, and gas, which has driven segmental growth. Powder coatings do not contain solvents, exhibit higher tangibility than conventional liquid coatings, and comply with environmental regulations. Moreover, the rising demand for domestic appliances in China, India, Vietnam, Thailand, and the Philippines is expected to increase the demand for powder coatings over time.
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Regional – Segment Analysis:
On the basis of regional coverage, Asia-pacific is expected to dominate the global powder coatings market over the forecast period. This is due to the rapid growth of Asian countries such as Japan, China, and India have contributed majorly to the powder coatings market. Powder coatings are used in the automotive industry for applying the coating on chassis components, springs/suspensions, electrical components, engine blocks etc.
Top Market Players
Some of the leading players operating in the market include Akzo Nobel N.V., PPG Industries, Inc., Sherwin-Williams Company, Axalta Coating Systems, Kansai Paint Co., Ltd., Nippon Paint Holdings Co., Ltd., DSM, Bayer AG, FERRO ARTE DE MEXICO., Eisenmann.
Key Developments:
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- In 2022, PPG Industries acquired the powder coatings business of Arsonsisi, an industrial coatings company based in Milan, Italy. The acquisition is forecast to be complete in the first quarter of 2022.
- In 2021, PPG Industries made an investment of USD 2.7 million to expand its powder coatings manufacturing capabilities at Sumaré, in the Brazilian state of São Paulo. The project will expand the production capacity for powder coatings by nearly 40%, beginning in the third quarter of 2022.
- In 2021, AkzoNobel established a R&D lab for the low cure powder coatings. The new R&D facility includes an application lab, process lab, and analytical and testing lab for delivering low cure powder coatings for use on heat-sensitive substrates.
- In 2021, Akzo Nobel N.V. established a new research and development lab dedicated to low cure powder coatings. This strategic initiative has helped the company in the facility expansion which is anticipated to surge the growth of the company.
Segments covered in the Report:
The global powder coatings market has been segmented based on type, method, application, and regions. Based on type, the market is segmented into polyester based, polyurethane based, epoxy based, hybrid powder coatings, and others. Based on method, the market is segmented into electrostatic spray, fluidized bed and others. Based on application, the market is segmented into consumer goods, automotive, building and construction, furniture, general industries and others.
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Report Coverage |
Details |
| Market Revenues (2022) |
USD 14.3 billion |
| Market Base Year |
2022 |
| Market Forecast Period |
2023-2030 |
| Base Year & Forecast Units |
Revenues (USD billion) |
| Market Segment | By Type, By Method, By Application, By Region |
| Regional Coverage | Asia Pacific, Europe, North America, and RoW |
| Companies Profiled | Akzo Nobel N.V., PPG Industries, Inc., Sherwin-Williams Company, Axalta Coating Systems, Kansai Paint Co., Ltd., Nippon Paint Holdings Co., Ltd., DSM, Bayer AG, FERRO ARTE DE MEXICO., Eisenmann, among others; a total of 10 companies covered |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Powder Coatings Market by Type
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- Polyester Based
- Polyurethane Based
- Epoxy Based
- Hybrid Power Coatings
- Others
Global Powder Coatings Market by Method
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- Electrostatic Spray
- Fluidized Bed
- Others
Global Powder Coatings Market by Application
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- Consumer Goods
- Automotive
- Building and Construction
- Furniture
- General Industries
- Others
Global Powder Coatings Market by Region
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North America Powder Coatings Market (Option 1: As a part of the free 25% customization)
- By Type
- By Method
- By Application
- US Market All-Up
- Canada Market All-Up
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Europe Powder Coatings Market (Option 2: As a part of the free 25% customization)
- By Type
- By Method
- By Application
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
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Asia-Pacific Powder Coatings Market (Option 3: As a part of the free 25% customization)
- By Type
- By Method
- By Application
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
-
RoW Powder Coatings Market (Option 4: As a part of the free 25% customization)
- By Type
- By Method
- By Application
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
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Major Players Operating in the Powder Coatings (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Akzo Nobel N.V.
- PPG Industries, Inc.
- Sherwin-Williams Company
- Axalta Coating Systems
- Kansai Paint Co. Ltd.
- Nippon Paint Holdings Co. Ltd.
- DSM
- Bayer AG
- FERRO ARTE DE MEXICO
- Eisenmann
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