Global Powder Coatings Market

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 News

  • In response to the growing emphasis on sustainability within the industry, AkzoNobel introduces in February 2024 an online calculator that enables clients to assess energy and carbon savings achievable with their Interpon powder coatings.

  • In May 2023, PPG declared the end of a EUR 13.5 million investment to upgrade its Brazil, Indiana, powder coatings production plant.

  • In April 2023, AkzoNobel debuted Interpon D, an extremely resilient powder coating, for Indian architects and designers. With the help of this coating, aluminum surfaces can have the stunning, authentic look and feel of stone without the trouble or cost of employing the real thing.

  • Alesta Eco-Choice, an aqueous powder coating technology that Axalta Coating Systems claims has a smaller environmental impact than conventional powder coatings, is introduced in March 2023.

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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.

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.

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