Press release
The Impact Of Electric Vehicle Production On The Epoxy Powder Coatings Market Driver: Leading Transformation in the Epoxy Powder Coatings Market in 2025
Epoxy Powder Coatings
The growth of the epoxy powder coatings market is anticipated to be driven by the rising production of electric vehicles. An electric vehicle (EV), which relies on one or more electric motors for propulsion, is witnessing a surge in demand due to a combination of increasing consumer demand, favorable government policies, and technological advancements. Epoxy powder coating plays a crucial role in these vehicles by offering superior corrosion resistance, durability, and electrical insulation; all vital in safeguarding components and prolonging the vehicle's lifespan. For example, the International Energy Agency, a France-based intergovernmental organization, reported in April 2023 that over 10 million electric vehicles were sold worldwide in 2022. Forecasts suggest a 35% rise in 2023, pushing the total to 14 million. Consequently, the escalating production of electric vehicles fuels the expansion of the epoxy powder coatings market.
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What Is the projected market size and growth rate for the epoxy powder coatings market?
In recent times, the epoxy powder coatings market has observed a consistent growth. The size of the market is set to increase from $4.18 billion in 2024 to $4.36 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.3%. The historical period growth is credited to various factors such as a surge in automotive production worldwide, an uptick in urbanization and infrastructure growth, escalated usage of epoxy powder coatings for electrical and electronics goods, the developing competence for the application of thinner and more uniform coatings, and a swelling demand from the construction sector.
The epoxy powder coatings market is predicted to experience consistent growth in the upcoming years, expanding to $5.1 billion by 2029 with a compound annual growth rate (CAGR) of 4.0%. The growth during the forecast period can be ascribed to the increasing demand coming from manufacturers of electric vehicles (EV), heightened awareness of environmental issues and strict regulatory measures, amplified emphasis on corrosion prevention, heightened use in aerospace and defense sectors, and a growing need for sustainable coating solutions. Notable trends in the forecast period incorporate the adoption of automated systems and AI, improvements in production methodologies, innovation of unique formulas and applications, sophisticated coating solutions, and the burgeoning research and development (R&D) in coatings to avoid pipeline blockages.
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What new trends are reshaping the epoxy powder coatings market and its opportunities?
Key businesses in the epoxy powder coatings market are concentrating on the creation of innovative product lines such as zinc epoxy powder primers which provide exceptional resistance to corrosion. These primers are protective coatings made from epoxy resin and zinc particles that provide corrosion resistance and improve adhesion for further coating layers. For instance, PPG Industries Inc., a US-based manufacturer of paint and coating, launched its PPG PRIMERON Optimal zinc epoxy powder primer in August 2024. This product uses a state-of-the-art zinc formulation that delivers superior transfer efficiency, including an 85% efficiency in comparison to standard zinc-rich primers. It also meets the ISO C5 standards (ISO 12944 Corrosion Category C5 - Very High Corrosivity) for corrosion protection under harsh environmental conditions and high humidity. The PRIMERON Optimal product has a notable lower specific gravity (2.0 vs. 3.6) which means it's lighter and much easier to apply. Approximately half the product is needed in comparison to traditional primers, resulting in considerable cost savings and increased sustainability. The PRIMERON Optimal primer is also free from solvents, so it eliminates the emission of volatile organic compounds (VOCs).
What major market segments define the scope and growth of the epoxy powder coatings market?
The epoxy powder coatingsmarket covered in this report is segmented -
1) By Coatings Type: Fusion Bonded Epoxy Coating, Spray Grade Fusion Bonded Epoxy, Other Coating Types
2) By Method: Electromagnetic Brush (EMB) Coating, Electrostatic Spray Deposition, Fluidized Bed Coating
3) By End-User: Automotive, Building And Construction, Industrial, Aerospace And Defense, Marine, Electrical And Electronics, Oil And Gas, Other End-Users
Subsegments:
1) By Fusion Bonded Epoxy Coating: Thin Film Fusion Bonded Epoxy, Thick Film Fusion Bonded Epoxy
2) By Spray Grade Fusion Bonded Epoxy: Low-Viscosity Spray Grade, High-Viscosity Spray Grade
3) By Other Coating Types: Electrically Conductive Epoxy Coatings, Specialty Epoxy Coatings, Decorative Epoxy Coatings
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Which region dominates the epoxy powder coatings market?
Asia-Pacific was the largest region in the epoxy powder coatings market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the epoxy powder coatings marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the epoxy powder coatings industry growth?
Major companies operating in the epoxy powder coatings marker are BASF SE, Henkel AG & Co. KGaA, Sherwin-Williams Company, PPG Industries Inc., Evonik Industries AG, Akzo Nobel N.V., Nippon Paint Holdings Co. Ltd., RPM International Inc., Wacker Chemie AG, Axalta Coating Systems Ltd., Asian Paints PPG Pvt. Ltd., Jotun A/S, Allnex Group, Berger Paints India Ltd., Kansai Nerolac Paints, Teknos Group, Beckers Group, Tnemec Company Inc., Cardinal Paint and Powder, Solvay S.A., Crest Coatings Inc., Hempel A/S
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What Is Covered In The Epoxy Powder Coatings Global Market Report?
•Market Size Forecast: Examine the epoxy powder coatings market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the epoxy powder coatings market for a structured understanding.
•Key Players Overview: Analyze major players in the epoxy powder coatings market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the epoxy powder coatings market.
•Segment Contributions: Evaluate how different segments drive overall growth in the epoxy powder coatings market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the epoxy powder coatings market.
•Industry Challenges: Identify potential risks and obstacles affecting the epoxy powder coatings market.
•Competitive Landscape: Review strategic developments in the epoxy powder coatings market, including expansions, agreements, and new product launches.
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