POWDER COATINGS MARKET: Summary
The Global Powder Coatings Market is expected to register a CAGR of over 5%, reaching a value of around USD 19 billion by the end of 2027.
Powder coating is a free-floating, dry powder applied to a substrate. It is a dry finishing process that uses powder to create a high-quality finish. According to the Powder Coating Institute, powder coating represents around 15% of the total industrial finishing market. These coatings exhibit enhanced durability, exceptional chip and abrasion resistance, and cost-efficiency.
The demand for powder coatings is increasing as it is available in a variety of colors, is versatile, and offers several advantages over the traditional painting process.
POWDER COATINGS MARKET: Drivers & CHALLENGES
- Stringent Government Regulations to Reduce VOC Emissions
Rising concerns regarding environmental degradation have resulted in the implementation of various stringent regulations such as the Clean Air Act, Clean Water Act, National Volatile Organic Compound Emission Standards, and REACH regulations. This results in high demand for powder coatings as they contain no volatile organic compounds (VOC) and toxic heavy metals such as lead or chromium.
VOCs emitted react with other harmful particulates in the air to form smog, which when exposed or inhaled can cause irritation in eyes, nose & throat, as well as heart and respiratory problems such as asthma. Prolonged exposure to severe smog conditions may cause permanent damage to lung tissue and affect the immune system.
Thus, the imposition of stringent regulations to curb VOC emissions is expected to drive the global powder coatings market.
- Growing End-Use Industries
Rapid industrialization and urbanization, as well as infrastructural development worldwide, is another key driver of the global powder coatings market. The automotive industry is the largest consumer of powder coatings due to its durability, scratch and corrosion resistance, faster cure rates, lower cure temperatures, improved appearance, and others. Powder coatings are used in wheels, grilles, bumpers, door handles, roof racks, exterior, and interior trim. It is also used for coating oil and fuel filters, battery trays, brake pads, shock absorbers, engine block casings, etc.
The total automotive production stood at 95.6 million in 2018, with a positive percentage change in emerging economies such as India, Thailand, Russia, and Indonesia.
Apart from this, the powder coatings are used in the appliances industry for coatings panels of ranges and refrigerators, dryer drums, air-conditioner cabinets, washer tops and lids, water heaters, dishwasher racks, freezer cabinets, and among many others.
Thus, rising demand from end-use industries is driving the global powder coatings market.
- Fluctuating Cost of Resins Used in Powder Coatings
Resins used in powder coatings are produced from petroleum products. The supply-demand gap in crude oil results in price fluctuations of resins used in powder coatings.
Apart from this, high initial cost and high energy consumption are restraining market growth.
Powder Coatings market: Key segments
- Segmentation based on resin type: Thermoset and Thermoplastic.
- Segmentation based on coating method: Electrostatic Spray, Fluidized Bed Spray, Electrostatic Fluidized Bed, and Flame Spraying.
- Segmentation based on end-use industries: Automotive & Transportation, Consumer Goods & Appliances, Electrical & Electronics, Architecture, Furniture, Medical, and Others.
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
Powder Coatings MARKET: Report SCOPE
The report on the powder coatings market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Billion) Volume (Kiloton)
Resin Type, Coating Method, and End-use Industries
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
KEY Companies Covered
- Akzo Nobel N.V. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Asian Paints Ltd.
- Berger Paints India Limited
- PPG Industries, Inc.
- The Sherwin-Williams Company
- Evonik Industries
- TCI Powder
- BASF SE
- Other Key Companies
Powder Coatings MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Powder Coatings Market, by Resin Type
- Polyvinyl Chloride
Powder Coatings Market, by Coating Method
- Electrostatic Spray
- Fluidized Bed Spray
- Electrostatic Fluidized Bed
- Flame Spraying
Powder Coatings Market, by End-Use Industries
- Automotive & Transportation
- Consumer Goods & Appliances
- Electrical & Electronics
Powder Coatings Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Powder Coatings Market Providers
- Powder Coatings Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Powder Coatings Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE POWDER COATINGS MARKET STUDY