Powder Coatings Market Global Outlook and Forecast 2024-2030

The global "Powder Coatings market" was valued at US$ 11860 million in 2024 and is projected to reach US$ 16728.63 million by 2030, at a CAGR of 5.9% during the forecast period.

Powder coating is a type of coating that is applied as a free-flowing, dry powder. The main difference between a conventional liquid paint and a powder coating is that the powder coating does not require a solvent to keep the binder and filler parts in a liquid suspension form. The coating is applied electrostatically and is then cured under heat to allow it to flow and form a "skin". The powder may be a thermoplastic or a thermoset polymer. It is usually used to create a hard finish that is tougher than conventional paint.

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The powder coatings market is a rapidly growing segment within the global coatings industry, characterized by its eco-friendly attributes and superior performance qualities compared to traditional liquid coatings. To provide a strong, protective finish, powder coatings are applied as a dry powder and are usually heated to cure them. Durability, resistance to corrosion, and aesthetic appeal are critical factors in the automotive, architectural, and industrial production sectors, which are the main drivers of its market expansion. Since powder coatings release less waste and volatile organic compounds (VOCs) during application, the industry is being driven by the trend towards sustainability. Technological improvements, such as the creation of customised formulations for specific applications and the introduction of innovative curing procedures, are also expanding market prospects.

Segmental Analysis

Thermoset Powder Coating to hold the highest market share: By Type

In terms of type, the global powder coating industry has been segmented as Thermoset Powder Coating, and Thermoplastic Powder Coating.

In the global powder coatings market, thermoset powder coatings hold the largest market share, accounting for a significant percentage of the total market. Their extraordinary performance qualities, including as remarkable durability, chemical resistance, and heat tolerance, are responsible for their domination. During the curing process, thermoset powders go through a chemical transformation that produces a hard, inflexible surface perfect for demanding applications in the automotive, industrial, and architectural sectors. Because of their advantages, thermoset coatings are especially well suited for situations where durability is essential, such as outdoor or industrial settings. On the other hand, thermoplastic powder coatings are typically less strong and heat-resistant than their thermoset counterparts, although having benefits like flexibility and the capacity to be remelted and processed. Consequently, the preference for thermoset powder coatings in various industries, driven by their reliable performance and growing emphasis on sustainability and environmental compliance, solidifies their leading position in the market.

Automotive to hold the highest market share: By Application

In the global powder coatings market, the automotive application holds the highest market share. This is mostly attributable to the automotive industry's growing emphasis on corrosion resistance, durability, and aesthetics-all attributes that powder coatings successfully meet. Automotive components, such as wheels, frames, and body parts, are frequently coated with powder coatings, which provide a finish that is not only aesthetically pleasing but also extremely resistant to deterioration from weather, chemicals, and mechanical wear. Additionally, the automotive sector is shifting towards more sustainable practices, and powder coatings align well with this trend as they produce fewer VOC emissions and can be recycled. The growing production of electric vehicles (EVs) also boosts demand for innovative powder coating solutions, as manufacturers seek lightweight and eco-friendly finishes. Consequently, the automotive sector continues to be a key driver for the powder coatings market, contributing significantly to its overall growth.

Regional Overview

The regional analysis of the powder coatings market reveals significant variation in growth dynamics and market share across different areas. he largest and fastest-growing market is Asia-Pacific, which is mainly due to the region's rapid industrialisation, urbanisation, and infrastructure development in nations like China and India. Significant drivers of this growth include the expanding automobile industry and the rising demand in the construction industry for long-lasting coatings.

Strong environmental laws that encourage the use of low-VOC and sustainable coating solutions have helped North America and Europe secure significant market shares as well. High-performance thermoset powders are preferred by the automotive and aerospace industries in these regions due to their resilience and durability, which further fuels market demand.

On the other hand, the Middle East and Africa have the potential for moderate growth, mainly because of current infrastructure investments and an increasing emphasis on industrialisation. The Gulf Cooperation Council (GCC) nations are making significant investments in manufacturing and construction, which is opening up new possibilities for powder coating applications. Overall, North America and Europe continue to have a major impact due to innovation and regulatory backing, even if Asia-Pacific leads the world in both market size and growth rate. This has created the conditions for a variety of advances in the powder coatings industry globally.

Competitive Analysis

Akzonobel
Sherwin-Williams
PPG Industries
Axalta Coating Systems
Arsonsisi
TIGER Drylac
RPM International
Nippon Paint
Jotun Powder Coatings
3M
TITAN Powder Coatings
Teknos
Masco
ST Powder Coatings
Ripol
RIH
Pulverit
Protech-Oxyplast
American Powder Coatings
IGP
CIN
ADAPTA COLOR
Aiyue Group
Huajia
Jingaoli Group
Wisely
Fujian Wanan
Meijia New Materials
Zhejiang Huacai
Other Key Players

The global powder coatings market is characterised by a competitive landscape that includes both established players and rising firms, all of which are vying for market share through innovative strategies and strategic positioning. Leading companies that control the market are AkzoNobel, PPG Industries, Sherwin-Williams, and BASF. They do this by using their broad distribution networks, cutting edge technologies, and well-known brands. These businesses are making significant investments in R&D to produce novel formulations that address certain application requirements, like environmentally friendly solutions and customised coatings for different industries.

In addition, through partnerships, collaborations, and strategic mergers and acquisitions, they are broadening their product offerings and improving their operating capacities. In addition, new competitors entering the market with a focus on specialised markets are increasing competition. As businesses try to stand out in a crowded market, pricing strategy, product quality, and customer service are important variables driving competitive dynamics. In addition, the industry's future course is being shaped by the emphasis on sustainability and regulatory compliance, which is forcing all participants to embrace greener methods.

Recent Development

September 26th 2024, AkzoNobel has created a novel powder coating particle technology in response to the expanding market demand for environmentally friendly metal effect architectural treatments. The Interpon D Natural Metals line was developed as a result of this breakthrough. It is intended to provide architects with the durability and visual appeal they require without the drawbacks of actual metal treatments.

July 16th 2024, Axalta, a well-known international coatings firm, and CESVIMAP R&D Centre, a pioneer in collision repair sector research and development, have partnered. Axalta's refinish customers will have access to CESVIMAP's Move2Green sustainability program through this cooperation, which provides an online self-assessment questionnaire to measure bodyshops' existing environmental impact. Axalta customers will earn the Move2Green accreditation to demonstrate their commitment to lowering their environmental impact and a comprehensive roadmap with specific measures to improve their sustainability initiatives once an auditor reviews the data.

July 2nd 2024, The previously announced acquisition of The CoverFlexx Group from Transtar Holding firm has been successfully concluded by Axalta Coating Systems, a prominent worldwide coatings firm. The CoverFlexx Group produces and markets coatings for use in aftermarket and automobile refinishing, primarily targeting low-income clients in North America. "The acquisition of The CoverFlexx Group further solidifies our excellent offerings in Refinish coatings," said Chris Villavarayan, Axalta's Chief Executive Officer and President. "As outlined at our recent Strategy Day, investing in growth in our Refinish business is a key priority of Axalta, and this acquisition advances that priority."

End use industry Analysis

The end-use industries for powder coatings are experiencing robust growth, creating significant opportunities for manufacturers and suppliers.

One of the biggest markets for powder coatings is the automobile industry, where demand is being driven by a growing emphasis on sustainable practices and lightweight materials. The transition to electric vehicles (EVs) calls for novel coatings that provide better performance and are less harmful to the environment, creating new opportunities for expansion. In China, the number of new electric car registrations reached 8.1 million in 2023, increasing by 35% relative to 2022. In the United States, new electric car registrations totalled 1.4 million in 2023, increasing by more than 40% compared to 2022.

The construction industry is growing as well, especially in developing nations where infrastructure development is accelerating. Owing to its strength and visual appeal, powder coatings are frequently utilised in architectural applications. Demand for environmentally friendly powder coatings is predicted to rise in tandem with the popularity of green building techniques, offering businesses chances to create sustainable goods.

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Industry Dynamics

Industry Trend

Growing emphasis on sustainability and eco-friendly practices

The growing focus on sustainability and environmentally friendly procedures is one notable trend in the powder coatings sector. With the growing concern for the environment, producers are concentrating on creating powder coatings with reduced emissions of volatile organic compounds (VOCs) and improved recyclable properties in order to minimise their influence on the environment. Stricter regulations and rising customer demand for sustainable products are the main drivers of this trend. To fulfil these expectations, companies are investing in novel formulations, like powders based on biotechnology and those that use less energy when applied. Furthermore, the acceptance of environmentally friendly powder coatings in a variety of end-use industries, such as the automotive and construction sectors, is being further accelerated by the growth of green building standards and certifications. Because of this, companies who put sustainability first not only improve the perception of their brand but also acquire a competitive advantage in the marketplace, setting themselves up for long-term success in an environment that is becoming more and more environmentally conscious.

Industry Driver

Growing demand for durable and high-performance finishes

The increasing need for long-lasting, high-performing finishes in a variety of industries is one of the main factors propelling the powder coatings market. The necessity for coatings that can endure severe climatic conditions, fend off corrosion, and hold their visual appeal over time is what drives this demand. Coatings that improve product longevity and improve overall safety and performance are necessary in industries including construction, automotive, and appliances. Powder coatings are becoming more and more popular as manufacturers place a higher priority on customer happiness and product quality. This is because powder coatings are more resistant to wear, chemicals, and UV radiation than standard liquid coatings.

Powder coatings are becoming more and more popular as manufacturers seek to enhance their products while adhering to strict quality standards. This is because there is an increasing emphasis on lowering maintenance costs and prolonging the life cycle of products. The market for powder coatings is expanding across a range of applications because to investment and innovation spurred by the rising emphasis on performance and durability.

Industry Restraint

The high initial cost of equipment and technology is a major restraint on the powder coatings sector. Specialised equipment, including as powder spray booths, curing ovens, and sophisticated handling systems, are required for the application of powder coatings and can be prohibitively expensive for small and medium-sized businesses (SMEs). This capital-intensive requirement can discourage new competitors and restrict the capacity of current businesses to grow or modernise their facilities.

Furthermore, the requirement for skilled workers to operate this specialised equipment can raise operating expenses even more, making it difficult for companies to offer competitive prices. Additionally, operational issues that impede productivity and efficiency might arise from the technical complexity of powder coating applications and the possibility of equipment downtime during transitions or maintenance. These concerns combined may hinder growth potential, particularly in emerging nations where budget restraints are more severe, thereby hurting the overall expansion of the powder coatings industry.

Report Scope

The report includes Global & Regional market status and outlook for 2017-2028. Further, the report provides breakdown details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by Types, Application. The report also covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price, and Gross Margin 2017-2028 & Sales with a thorough analysis of the market's competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Attributes

Details

Segments

By Type

Thermoset Powder Coating
Thermoplastic Powder Coating
By Application

Indoor Application
Outdoor/Architectural Application
Automotive
Appliance & Housewares
Others

Region Covered

Key Market Players

Report Coverage

Industry Trends

SWOT Analysis
PESTEL Analysis
Porter's Five Forces Analysis
Market Competition by Manufacturers
Key Companies Profiled
Marketing Channel, Distributors and Customers
Market Dynamics
Production and Supply Forecast
Demand Forecast
Research Findings and Conclusion
Outline of Major Chapters:

Chapter 1: Introduces the definition of Powder Coatings, market overview.

Chapter 2: Global Powder Coatings market size in revenue and volume.

Chapter 3: Detailed analysis of Powder Coatings manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 6: Sales of Powder Coatings in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.

Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 8: Global Powder Coatings capacity by region & country.

Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 11: The main points and conclusions of the report.

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Table of content
1 Introduction to Research & Analysis Reports
1.1 Powder Coatings Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Powder Coatings Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Powder Coatings Overall Market Size
2.1 Global Powder Coatings Market Size: 2022 VS 2029
2.2 Global Powder Coatings Revenue, Prospects & Forecasts: 2018-2029
2.3 Global Powder Coatings Sales: 2018-2029
3 Company Landscape
3.1 Top Powder Coatings Players in Global Market
3.2 Top Global Powder Coatings Companies Ranked by Revenue
3.3 Global Powder Coatings Revenue by Companies
3.4 Global Powder Coatings Sales by Companies
3.5 Global Powder Coatings Price by Manufacturer (2018-2023)
3.6 Top 3 and Top 5 Powder Coatings Companies in Global Market, by Revenue in 2022
3.7 Global Manufacturers Powder Coatings Product Type
3.8 Tier 1, Tier 2 and Tier 3 Powder Coatings Players in Global Market
3.8.1 List of Global Tier 1 Powder Coatings Companies
3.8.2 List of Global Tier 2 and Tier 3 Powder Coatings Companies
4 Sights by Product
4.1 Overview
4.1.1 By Type - Global Powder Coatings Market Size Markets, 2022 & 2029
4.1.2 Thermoset Pow

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