Global Powder Coatings Market is Growing to Reach USD 22.7 Billion By 2026

Findings from Facts and Factors report "Powder Coatings Market By Resin Type (Thermoset and Thermoplastic), By Coating Method (Electrostatic Spray, Fluidized Bed, and Others), By End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020-2026" states that the global Powder Coatings market in 2019 was approximately USD 15.5 Billion. The market is expected to grow at a CAGR of 6.5% and is anticipated to reach around USD 22.7 Billion by 2026.

Powder coating is used to provide a durable, scratch-proof, chalking resistance, and gloss retention for providing a quality finish to the metal parts or products. It is a cost-effective and eco-friendly process. Powder coating is widely being used in the automotive and consumer electronics sector.

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Market Drivers:

The growing advancements taking place in the end-use industries and technologies are likely to help boost the global Powder Coatings market. Additionally, the economic progress in developing countries and the strict environmental rules and regulations further expand the growth of the market. The rising developments in the appliance & automotive industries are also one of the key factors propelling the growth of the Powder Coatings market. The low operating costs, minimal VOC emission, easy availability, uniform thickness, and excellent appearance are some of the advantages over other coatings projected to boom the market worldwide.

Market Segment Dominance:

Appliance category will witness the maximum growth during the forecast period

The appliance category is expected to witness significant growth during the forecast timeframe. The growth is attributed to unique features such as abrasion resistance, myriad applications, temperature cycling, exceptional combinational effect, and chemicals. Moreover, the increasing use of powder coatings on front and side panels of dryer drums, ranges and refrigerators, water heaters, air-conditioner cabinets, washer tops & lids, freezer cabinets, dishwasher racks, and cracks of microwave ovens help increase the demand in the appliance sector.

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Thermoset resin category is projected to hold the majority of the market share in the global Powder Coatings market

The thermoset category is expected to dominate the market owing to its high ability to withstand temperature fluctuations and to remain solid despite any further heating. The thermoset powder coating systems are used majorly in functional and decorative applications owing to its ability to broad formulation flexibilities and durability. In addition to this, the chemical crosslinking, flowing, and melting property of thermostat powder coating within themselves or with any other reactive component to form heavy molecular weight reactive end products is accounted for its wide range application.

Regional Dominance:
·Asia Pacific is expected to grow at a significant rate during the forecast period

The Asia Pacific is anticipated to grow at a faster rate during the forecast timeline. The growth in the Asia Pacific market is attributed to the rising developments in the electronics and automotive industries in emerging regions such as China, Taiwan, India, Korea, etc. With the surging population, the demand for consumer electronics such as washing machines and refrigerators is also expected to escalate, thereby bolstering the global Powder Coatings market growth.

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Market Players:

Some of the key players of the global Powder Coatings market include Akzo Nobel N.V., PPG Industries, Inc., Jotun Group, Axalta Coating Systems, LLC, Nippon Paint Holdings Co., Ltd., The Sherwin-Williams Company, Asian Paints Limited, BASF SE, and RPM International Inc.

This report segments the global Powder Coatings market as follows:

Global Powder Coatings Market: Resin TypeSegmentation Analysis

Thermoset
Thermoplastic

Global Powder Coatings Market: Coating MethodSegmentation Analysis

Electrostatic Spray
Fluidized Bed
Others

Global Powder Coatings Market: End-Use IndustrySegmentation Analysis

Appliances
Automotive
General Industrial
Architectural
Furniture
Agriculture, Construction, and Earthmoving Equipment (ACE)
Others

Global Powder Coatings Market: Regional Segmentation Analysis

North America
The U.S.
Canada
Europe
Germany
The UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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