Press release
India Powder Coatings Market Size, Share, Trends and Forecast 2024-2032
India Powder Coatings Market
According to the report by Expert Market Research (EMR), the India powder coatings market size attained a value of around USD 1.19 billion in 2023. Aided by the expansion of the construction and automotive sectors and the rising emphasis on sustainability, the market is assessed to grow at a CAGR of 6% in the forecast period of 2024-2032.
Powder coatings are a type of dry finishing process used to apply a durable, protective layer onto various surfaces. Unlike traditional liquid coatings, which are applied in a wet form and then cured, powder coatings are composed of finely ground particles of pigment and resin that are electrostatically charged and sprayed onto the surface to be coated. The charged particles adhere to the surface and form a uniform, continuous film when heated in an oven.
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The India powder coatings market is experiencing dynamic growth, fuelled by a combination of factors, including rapid industrialisation, infrastructure development, and increasing demand for sustainable coating solutions. Powder coatings, which are applied as dry powder and cured under heat to form a hard, durable finish, are gaining popularity across various industries due to their superior performance, environmental benefits, and cost-effectiveness.
One prominent trend driving the India powder coatings market growth is the expansion of the construction and automotive sectors in India. As the country undergoes rapid urbanisation and industrialisation, there is a growing demand for high-performance coatings to protect and enhance the durability of buildings, infrastructure, and automotive components. Powder coatings offer advantages such as excellent corrosion resistance, weatherability, and colour retention, making them ideal for architectural applications such as metal roofing, façade cladding, and window frames, as well as automotive parts such as wheels, chassis, and body panels.
Moreover, there is a rising emphasis on sustainability and environmental responsibility within the India powder coatings market. With increasing awareness of the environmental impact of traditional solvent-based coatings, manufacturers and end-users are shifting towards powder coatings as eco-friendly alternatives. Powder coatings are free from volatile organic compounds (VOCs) and hazardous air pollutants (HAPs), making them environmentally safe and compliant with stringent regulations on air quality and emissions. Additionally, powder coatings can be recycled and reused, reducing waste and promoting a circular economy in the coatings industry.
Another significant trend supporting the India powder coatings market expansion is the focus on technological innovation and product development. Manufacturers are investing in research and development to introduce new formulations, colours, textures, and functionalities to meet the evolving needs and preferences of customers.
Specialised powder coatings with enhanced properties such as antimicrobial, fire-retardant, and anti-graffiti are gaining traction in niche markets such as healthcare, transportation, and architectural design. Additionally, advancements in powder coating application technologies, such as electrostatic spraying and fluidised bed coating, are improving efficiency, quality, and versatility in coating processes.
Furthermore, there is a growing trend towards customisation and personalisation in the India powder coatings market. With increasing competition and changing consumer preferences, powder coating manufacturers are offering a wide range of colour options, finishes, and effects to cater to diverse aesthetic requirements and design trends.
Custom colour-matching services, speciality finishes such as metallics, textures, patterns, and bespoke coating solutions are becoming increasingly available to architects, designers, and OEMs seeking unique and differentiated coatings for their projects.
In addition to these overarching trends, several market-specific developments are shaping the growth trajectory of the powder coatings market in India. For instance, the government's initiatives to promote domestic manufacturing under the "Make in India" campaign are driving investment and expansion in the manufacturing sector, boosting demand for industrial coatings including powder coatings. Moreover, the implementation of goods and services tax (GST) reforms and the rollout of infrastructure projects such as smart cities and highways are creating opportunities for powder coating suppliers and applicators across the country.
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India Powder Coatings Market Segmentation
The India powder coatings market can be divided based on resin type, coating method, application, and region.
Market Breakup by Resin Type
Thermoset
Thermoplastic
Market Breakup by Coating Method
Electrostatic Spray
Fluidised Bed
Market Breakup by Application
Appliances
Automotive
Architectural
Furniture
Agriculture, Construction and Earthmoving Equipment (ACE)
General Industrial
Others
Market Breakup by Region
North India
South India
West India
East India
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India powder coatings market. Some of the major players explored in the report by Expert Market Research are as follows:
Akzo Nobel India Ltd.
Berger Paints India Limited
Durolac Paints, Inc.
Jotun India Private Limited
Maharani Innovative Paints Pvt. Ltd.
Marpol Private Limited
PPG Asian Paints Private Limited
Others
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