What is the global market size of Powder Coatings Market?

Powder Coatings Market size was valued at USD 12.80 billion in 2021 and is poised to grow from USD 13.80 billion in 2022 to USD 25.16 billion by 2030, at a CAGR of 7.8% during the forecast period (2023-2030).

Global Powder Coatings Market Size, Share, Growth Analysis, By Resin(Epoxy, polyester), By Application(Architectural, furniture) - Industry Forecast 2024-2031

Report ID: SQMIG15E2334 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 69 | Figures: 75

Global Powder Coatings Market Regional Insights

Asia Pacific dominated the global market. The region's growth was primarily driven by infrastructure development in China and India, which is expected to increase the usage of powder coating in architectural applications such as aluminum extrusions used in building facades, kitchen windows, doorframes, and kitchens. However, the preference for anodized aluminum extrusion in architectural applications is anticipated to limit the demand for powder coating in the Asia Pacific region throughout the forecast period.

Meanwhile, the expanding automotive industry in the United States and growing concerns regarding volatile organic compound (VOC) emissions from coatings used in automobile production are projected to drive the demand for powder coatings in North America. The automotive industry in the U.S. is experiencing growth, and the focus on reducing VOC emissions from coatings in automobile manufacturing is expected to further fuel the adoption of powder coatings. Additionally, the automotive industry in Mexico is witnessing an increase in production, coupled with manufacturers shifting from the European Union. These factors are likely to contribute to the growing use of powder coating in the Mexican automotive industry.

Furthermore, the rise in automotive production in Austria, Germany, Romania, Hungary, and Turkey is expected to drive the demand for powder coating in the automotive sector over the forecast period. The implementation of REACH regulations, which aim to restrict VOC emissions in the coating process, has compelled automotive manufacturers to adopt powder coatings as a replacement for liquid coatings. The reduction in VOC emissions not only aligns with regulatory requirements but also allows automobile manufacturers to earn carbon credits, providing them with additional benefits.

Global Powder Coatings Market Report Snapshots

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Global Powder Coatings Market size was valued at USD 13.80 billion in 2022 and is poised to grow from USD 14.88 billion in 2023 to USD 27.13 billion by 2031, at a CAGR of 7.8% during the forecast period (2024-2031).

Global Powder Coatings Market is highly competitive and fragmented, with several established players dominating the market. Some of the leading players operating in the market are actively engaged in expanding their product portfolios, investing in research and development activities, and acquiring other companies to enhance their market position. Additionally, several companies are focusing on product innovation to meet evolving customer demands and industry trends. Apart from established players, the market also comprises several small and medium-sized players that offer niche products and services. These players often specialize in catering to specific end-user industries, such as automotive or construction, and leverage their expertise to gain a competitive edge in the market. 'Akzo Nobel N.V. (Netherlands)', 'PPG Industries, Inc. (US)', 'Sherwin-Williams Company (US)', 'Axalta Coating Systems Ltd. (US)', 'Jotun Group (Norway)', 'TIGER Coatings GmbH & Co. KG (Austria)', 'Nippon Paint Holdings Co., Ltd. (Japan)', 'RPM International Inc. (US)', 'Kansai Paint Co., Ltd. (Japan)', 'KCC Corporation (South Korea)', 'Hempel A/S (Denmark)', 'Berger Paints India Limited (India)', 'The Valspar Corporation (US)', 'IGP Powder Coatings (Switzerland)', 'Wacker Chemie AG (Germany)', 'Protech Powder Coatings Inc. (US)', 'Asian Paints Limited (India)', 'TCI Powder Coatings (US)', 'Ferro Corporation (US)', 'Toyo Ink SC Holdings Co., Ltd. (Japan)'

The automotive industry is a major driver of the powder coatings market. Powder coatings offer several advantages in automotive applications, including durability, resistance to corrosion, and improved aesthetic appeal. The growing automotive industry in emerging economies, such as China and India, is driving the demand for powder coatings. For instance, the expansion of the automotive sector in China has led to increased consumption of powder coatings for applications like automotive parts, wheels, and vehicle bodies.

Growing demand for antimicrobial powder coatings: Growing demand for antimicrobial powder coatings: One notable market trend in the global powder coatings industry is the growing demand for antimicrobial powder coatings. With an increasing emphasis on health and hygiene in various sectors, from healthcare facilities to food processing plants, there is a heightened need for surfaces that inhibit the growth of bacteria and other pathogens. Antimicrobial powder coatings offer a solution by integrating microorganisms-inhibiting properties into the coating, reducing the risk of surface contamination. This trend extends beyond traditional applications, penetrating diverse industries, including household appliances and public transportation, where maintaining clean and safe surfaces is a priority. As a result, antimicrobial powder coatings are becoming a vital consideration, shaping the future of the powder coatings market.

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Global Powder Coatings Market Size, Share, Growth Analysis, By Resin(Epoxy, polyester), By Application(Architectural, furniture) - Industry Forecast 2024-2031

Global Powder Coatings Market Regional Insights

Global Powder Coatings Market Report Snapshots

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