Powder Coatings Market Key Players Insights, Size, Share, Growth Rate, Value, Sales and Forecasts to 2028

The global powder coating market size is projected to grow from USD 14.7 billion in 2022 to USD 19.9 billion by 2028, at a CAGR of 5.2%, between 2023 and 2028. The powder coatings market is mainly characterized by two main resin types: Thermoset, and thermoplastic. Powder coatings have significant use in appliances, automotive, architectural, and furniture industries. Many producers are shifting their manufacturing units to Asia Pacific because of the availability of raw materials, low labor cost, and promising government policies in developing markets such as India, Thailand, and Singapore. The global powder coatings market is being driven by economic growth, rising population, increased per capita income, and urbanization.

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The powder coatings market refers to the global industry that produces and sells powdered coatings used for various applications such as automotive, aerospace, furniture, appliances, and construction. Powder coatings are a type of paint in powder form that are applied electrostatically and then cured under heat to form a hard, durable finish. They are used as an alternative to traditional liquid coatings because of their environmental friendliness, excellent durability, and resistance to chipping, scratching, and fading.

The global powder coatings market has been growing steadily in recent years and is expected to continue to grow in the future. The growth is driven by factors such as increasing demand for environmentally friendly coatings, growing construction activities, and increasing demand for powder coatings in the automotive industry. The Asia-Pacific region is currently the largest market for powder coatings due to its high demand from the construction and automotive industries.

Prominent companies includes The Sherwin-Williams Company (US), PPG Industries, Inc (US), AkzoNobel N.V. (The Netherlands), Jotun A/s (Norway), Asian Paints Limited (India), Kansai Paint Co., Ltd (Japan), Nippon Paint Holding Co., Ltd (Japan), RPM International, Inc (US), Axalta Coating Systems LLC (US), and others. These companies are investing in research and development to develop new products and expand their market share. The market is highly competitive, with many small and large players operating in the industry.

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