Powder Coatings Market Expected to Witness a Sustainable Growth over 2031

Powder Coatings Market Outlook 2031
• The global powder coatings market was valued over US$ 11.8 Bn in 2021
• It is estimated to grow at a CAGR of 6.6% from 2022 to 2031
• The global powder coatings market is expected to reach US$ 21 Bn by the end of 2031

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Analysts' Viewpoint on Global Powder Coatings Market Scenario

Companies in the powder coatings market are focusing on high-growth applications such as general metals; metal furniture; agriculture, construction, and earthmoving equipment (ACE); automotive; architecture; and appliances to keep their businesses growing post the COVID-19 pandemic. The market is estimated to witness growth, owing to numerous incumbent properties of powder coatings over other alternatives. For instance, conventional liquid coatings are less durable and adversely impact the environment. Powder coatings help overcome such challenges. Thus, companies need to increase their R&D in powder coatings with good corrosion resistance and edge coverage, high crosslink density, low moisture and oxygen transmission rates, and lesser traces of any residual solvents. Powder coatings also play a vital role in the automotive industry, where they provide esthetic and high-performance attributes. Manufacturers need to leverage incremental opportunities in automobile production to broaden their revenue streams.

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Overview of Global Powder Coatings Market

Powder coatings are 100% solid coatings, which comprise a homogeneous blend of polymers, pigments, and additives produced in the form of fine powder. These are solvent-free coatings and provide durable as well as attractive finishes. The powder is applied with the help of a spray gun, which imparts an electrical charge on powder particles and directs them toward the object to be coated. The object is then subjected to heat, which causes the powder to melt, flow out, and form a tough, coherent film.

Powder coatings are used to provide protective and decorative finishes. They are available in a wide range of colors and textures. Technological advancements have resulted in excellent performance properties.

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High Demand for Powder Coatings Due to Environment-friendly Characteristics

Rapid industrialization and urbanization has led to an increase in air pollution. Air pollutants such as volatile organic compounds (VOCs), particulate matter (PM), carbon monoxide (CO), and others, cause serious health hazards to agriculture and climate. Domestic and international regulatory organizations are pressurizing several developing and developed countries to enact legislations to restrict VOC emissions in order to reduce pollution.

Rules and regulations govern the evaluation, storage, handling, and transportation of specific chemicals, as well as their emissions, effluents, and other pollutants. The violation of such regulations is likely to result in legal obligations as well as severe penalties and losses. Thus, the demand for less harmful alternatives has increased. This is driving the powder coatings market.

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Permits, testing, and record keeping have significantly reduced due to the low level of VOC released by powder coatings. Furthermore, powder coatings do not necessitate any specific transportation, storage, or handling methods. This is augmenting the powder coatings market.

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