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Powder Coatings Market Size (2024 - 2029)

The powder coatings market is anticipated to experience growth over the forecast period, driven by stringent regulations on VOC emissions and supportive government initiatives. Despite challenges such as difficulties in obtaining thin film coatings, the market is set to expand, particularly due to increased investments in infrastructure and construction in emerging Asia-Pacific economies. The region leads in market consumption, with significant activity in countries like China, South Korea, and India.

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Market Size of Powder Coatings Industry

Powder Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 5.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Powder Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Powder Coatings Market Analysis

The powder coatings market is projected to register a CAGR higher than 5.5% during the forecast period.

Due to the COVID-19 outbreak, nationwide lockdowns around the globe disrupted manufacturing activities, and supply chains, production halts, and labor unavailability negatively impacted the powder coating market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory during the forecast period.

  • Over the medium term, the significant factors driving the market studied are strict regulation against VOC emissions and favorable government initiatives promoting powder coatings usage.
  • Conversely, the difficulties in obtaining thin film coatings are expected to hinder the market's growth.
  • Nevertheless, growing investments in the infrastructure and construction industry in the emerging economies of the Asia-Pacific region is likely to create growth opportunities for the market studied.
  • Asia-Pacific dominated the market globally, with the most significant consumption from countries such as China, South Korea, and India.

Powder Coatings Industry Segmentation

Coatings are used to provide color/texture for various objects. Apart from aesthetic applications, coatings are also used to protect/increase the shelf life of metals and other materials. Owing to the factors above, they are increasingly used in various end-user sectors, including construction and infrastructure, automotive and transportation, oil & gas, and other industries. The powder coatings market is segmented by resin type, end-user industry, and geography. The market is segmented by resin type: acrylic, epoxy, polyester, polyurethane, epoxy-polyester, and other resin types. By end-user industry, the market is segmented into architecture and decorative, automotive, industrial, and other end-user industries. The report also covers the market size and forecasts for the powder coatings market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD million).

Resin Type
Acrylic
Epoxy
Polyester
Polyurethane
Epoxy-Polyester
Other Resin Types (Polyvinyl Chloride, Polyolefins)
End-user Industry
Architecture and Decorative
Automotive
Industrial
Other End-user Industries (Furniture, Appliances)
Geography
Asia Pacific
China
India
Japan
South Korea
Rest of Asia Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa
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Powder Coatings Market Size Summary

The powder coatings market is poised for significant growth, driven by stringent regulations against VOC emissions and supportive government initiatives. The market experienced disruptions due to the COVID-19 pandemic, but recovery began in 2021, setting a positive growth trajectory. The Asia-Pacific region leads the global market, with substantial consumption in China, South Korea, and India, largely fueled by the automotive and construction sectors. The architectural and building market is one of the fastest-growing segments, benefiting from the durability of powder coatings and advancements in polyester resin technology. This growth is further supported by the increasing demand for long-lasting exterior finishes in construction projects.

In North America, the rise of green construction practices and globalization has heightened awareness of powder coatings as a viable option for architectural aluminum. The market is characterized by a fragmented landscape, with a few international players like Akzo Nobel NV, Axalta Coating Systems LLC, and PPG Industries Inc. holding significant shares. Recent investments and expansions by major companies, such as PPG's facility expansion in Mexico and AkzoNobel's development of ready-to-ship powder coatings, underscore the market's growth potential. The ongoing investments in infrastructure and construction, particularly in emerging economies, are expected to create lucrative opportunities for the powder coatings market in the coming years.

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Powder Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Strict Regulations against VOC Emissions and Favorable Government Initiatives Promoting the Use of Powder Coatings

      2. 1.1.2 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Difficulty in Obtaining Thin Film of Powder Coating

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Resin Type

      1. 2.1.1 Acrylic

      2. 2.1.2 Epoxy

      3. 2.1.3 Polyester

      4. 2.1.4 Polyurethane

      5. 2.1.5 Epoxy-Polyester

      6. 2.1.6 Other Resin Types (Polyvinyl Chloride, Polyolefins)

    2. 2.2 End-user Industry

      1. 2.2.1 Architecture and Decorative

      2. 2.2.2 Automotive

      3. 2.2.3 Industrial

      4. 2.2.4 Other End-user Industries (Furniture, Appliances)

    3. 2.3 Geography

      1. 2.3.1 Asia Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 South Africa

        2. 2.3.5.2 Saudi Arabia

        3. 2.3.5.3 Rest of Middle-East and Africa

Powder Coatings Market Size FAQs

The Powder Coatings Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)

Axalta Coating Systems, LLC, The Sherwin-Williams Company, Jotun, Akzo Nobel NV and PPG Industries Inc. are the major companies operating in the Powder Coatings Market.

Powder Coatings Market Report Snapshots

Powder Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)