Powder Coatings Market to Grow at 5.40% CAGR by 2031, Driven by Eco-Friendly Benefits and Extensive Industrial Use of Coatings

Powder Coatings Market Size, Share, Growth Analysis, By Resin (Thermoset, Thermoplastics), By Coating Method (Electrostatic Spray, Fluidized Bed), By End Use (Consumer Goods, Automotive), By Region - Industry Forecast 2024-2031
Powder Coatings Market [https://www.skyquestt.com/report/powder-coatings-market] size was valued at USD 7.40 billion in 2022 and is poised to grow from USD 7.80 billion in 2023 to USD 11.88 billion by 2031, at a CAGR of 5.40% during the forecast period (2024-2031).

The growth of the powder coatings market can be attributed to its extensive use in various sectors like appliances, automotive, infrastructure and general industries. There are many benefits of powder coatings compared to paints & coatings, like it has uniform thickness aesthetically pleasing, better resistance to heat and impaction. These advantages have made it the ideal option for applications globally. These coatings can be utilized in many end users' industries like architecture, automobile, and chemicals. However, architectural coatings play a vital part is securing and improving the surfaces of residential and commercial infrastructures. Such coatings are particularly formulated to offer a wide range of advantages like protection against weathering, UV radiation, and do not allow the growth of mold. Powder coatings lack solvents, which helps it to emit very less volatile organic compound (VOC) emission into the atmosphere and minimize the risk of combustion during their usage and storage procedure. It is also easy to wash the powder when it gets exposed to human skin, decreasing the risk of health problem for operators. Another factor contributing to the growth of the powder coatings market is nominal wastage, this because the extra powder is collected by the extraction system and recycled. Features like lower carbon dioxide emission, low levels of VOC emission, and less wastage also make powder coatings more eco-friendly.

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Shift Towards Powder Coatings to Generate Less Hazardous Waste to Fuel Market Growth

Liquid coatings emit two types of harmful wastes, retouching and disposal. This coating often needs solvents owing to their chemical compounds. These solvents generate harmful fumes, making the coating extremely toxic. However, the powder coatings are inert and does not require any type of disposal or handling as they are safer to use. These coatings are inflammable and highly safe for treatment of buildings. Powder coating is also easier to use and will smoothly and uniformly cover the entire area giving a much more improved coat compared to the liquid coatings. To mitigate the uncured concentrate painters can just wipe the coated powder part or use compressed air and they reapply it. The waste generated from these can be easily managed without using any specialty equipment. Powder coatings can also be discarded easily, making them one of the most eco-friendly coatings.

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Rising Demand for Eco-Friendly Coatings to Reduce Atmospheric Pollution to Support Market Growth

In the last few years, the powder coatings market has expanded rapidly, this is particularly due to the decrease in the usage of volatile organic compounds. These coatings do not have VOCs, which helps in minimizing the atmospheric pollution, provide safe storage and handling, and has low fire hazard. VOCs are toxic chemicals that can vaporize in room temperature and causes air pollution. Nitrogen oxides heavily react with VOCs and form smog causing irritations, memory impairment, visual disorders, and even cancer in humans. Rising awareness about pollution control among manufacturers is also positively influencing the powder coatings production and market. Government bodies are also implementing stringent rules for using VOCs content and it can lead to penalties and fines. Powder coatings can be the perfect substitute that can be utilized to reduce air pollution and follow the regulations related to the use of coatings. These coating have successfully complied with the environmental regulation, driving the market development.

* Axalta Coating Systems launched their Alesta BioCore in May 2024. These are a line of production coatings that can minimize environmental impact of the coatings sector.
* AkzoNobel has successfully boosted abilities of North American powder coatings sites in March 2024. Almost 30 Million have been invested by ExxonMobil for implementing innovative technology and increase manufacturing capability.
* Arkema has combined almost 40% post-consumer recycled PET into powder coatings resin in May 2024. It will minimize the product carbon footprint by 20%.

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Growing Demand of Powder Coatings in Aerospace Market to Achieve Greater Fuel Efficiency to Propel Market Growth

Nowadays, powder coatings are increasingly used in the aerospace sector, increasing its demand. The aircraft manufacturers rely of these coatings to give them a unique look. Such coatings allow the machines to achieve better fuel efficiency and shield the surfaces from wear and corrosion. The powder coatings in aircraft enhances the efficiency of the procedure with fast cure time, quicker equipment preparation, and easy to clean up. These benefits of the coatings increase its preference among the aerospace sectors. The coatings are applied to the aircraft composites, door handles, struts, hand railings, and in the exterior and interiors of spacecrafts. Increasing air traffic, international trade, and investments in the aviation sector is boosting the popularity for powder coatings in the aerospace sector.

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