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Powder Coatings Market

Powder Coatings Market: Information by Resin Type (Thermoset, Thermoplastics), Coating Method (Flame Spraying), Substrate (Metallic, Non-Metallic), and Region — Forecast till 2030

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Market Overview

The global powder coatings market size was valued at USD 12.4 billion in 2021, and it is anticipated to reach USD 23.36 billion by 2030 at a CAGR of 7.29%.

A uniform combination of polymers, pigments, and additives is created in the form of fine powder for powder coatings, which are 100% solid. These coatings, which don't include solvents, offer long-lasting and beautiful finishes. The powder is applied using a spray cannon, which gives powder particles an electrical charge and drives them toward the surface to be coated. The powder then melts, flows out, and forms a robust and cohesive film when the object is heated.

Decorative and protective finishes are produced using powder coatings. They are available in numerous hues and textures. Excellent performance attributes are the outcome of technological developments. It has advantages, including exceptional toughness, scratch resistance, gloss maintenance, and resistance to chalking. It is primarily applied to metal items that are exposed to severe weather. It follows AAMA guidelines and is an environmentally sustainable procedure. Due to the lack of solvents and volatile organic chemicals, powder coating is inexpensive (VOCs). Additionally, excess powder coating sprayed on can be recovered and reused to cut costs.

Market Snapshot

market snapshot
Base Year
: 2021
Study Period
: 2020-2030
: 7.29 %
Fastest Growing Market
: North America
Largest Market
: Asia Pacific
Market Size
: USD 23.36 billion
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Market Dynamics

Global Powder Coatings Market Drivers

Growth across several end-use industries

Powder coatings are used for various purposes across various industries, including the automotive, architectural, furniture, appliance, and general industrial sectors. As a result of the development of new applications, there has been an increase in the demand for powder coatings. In the years to come, the furniture and appliance manufacturing businesses will continue their sustained growth. Additionally, information technology and telecommunications are new areas in which the uses of powder coatings are being widely researched. In addition to door handles, bumpers, and window handles, other components of automobiles, such as radiator coil springs, shock absorbers, and various portions of the braking system, are powder coated. The consistently growing economy in Asia and the Pacific region is luring an increasing number of investment dollars. Since the beginning of the previous decade, investments made by steel firms have been a driving force behind the growth of the appliance, construction, automotive, and electronics industries in developing countries in Asia, the Pacific, and the Middle East. Powder coatings are seeing increased demand due to the expansion of these sectors.

Growing Demand for Eco-Friendly Coatings Will Drive Market Growth

Due to a decrease in the usage of volatile organic compounds, the industry is overgrowing (VOCs). Because these coatings don't contain any volatile organic compounds (VOCs), they are safe to store and handle and have a low fire risk. Chemicals called VOCs, which vaporize at room temperature, are the main contributors to ground-level air pollution. When nitrogen oxides and VOCs combine to generate smog, it can irritate the eyes, nose, and throat and cause headaches, memory loss, visual impairment, and even cancer in people.

The manufacturing of these coatings is rising as manufacturers become more conscious of the need to reduce pollution. The amount of solvent and VOCs manufacturers can emit into the atmosphere is typically regulated by permits and stringent environmental laws. Manufacturers who violate the rules governing VOC content must pay fines and penalties. These coatings provide a substitute that complies with rules and regulations while minimizing the amount of air pollution management. Petroleum solvents are not used in producing these coatings; thus, they do not release VOCs that are bad for the environment. The market is anticipated to be driven by the fact that these coatings abide by environmental rules.

Global Powder Coatings Market Opportunities

Increasing use of powder coatings in the automobile industry

2018 has been a year of significant inventions and technological advancements in the automotive sector. Sustainability plays a crucial role in the future of self-driving cars, with the global autonomous market anticipated to be worth USD 60.3 billion in 2030. The estimates for the market are still cautiously positive for 2022, and it is expected that sales of light vehicles will improve, albeit minor. Because the automobile industry is one of the primary applications of powder coating, investments in the automotive industry in China present substantial growth potential for powder coating manufacturers.

The coating of automobile engines, chassis, wheels, filters, joysticks, mirrors, wipers, and horns, as well as other components of cars, can be accomplished with powder coating. As a varnish for automobile bodies, a transparent powder coating is now being developed. Powder coatings have been traditionally employed in these areas and have garnered confidence. They have demonstrated the capacity to give high-quality aesthetics in addition to their extraordinarily high levels of durability and immunity to corrosion.

Global Powder Coatings Market Restraints

Challenges in obtaining thin films

Metal goods with powder coatings have a thick finish. With these coatings, thin finishes are challenging to create. An uneven texture may develop as a result of the polymer thickening. For thin films, uniform flow and leveling are necessary. Not all of these chemistries are appropriate for thin-film applications, even if any powder coating can be created for them. Due to the powder's particle size and glass transition temperature, the thin film of powder coating becomes more orange peeling in texture ever. The powder coating should have particles that are between 30 and 50 micrometers in size for optimal material handling and application simplicity. The relationship between the hue and opacity of powder coating pigmentation is essential for a successful thin film application.

Segmental Analysis

The global powder coatings market is divided into five parts resin type, coating method, substrate, end-user, and region.

On the Basis of Resin Type

The powder coatings industry is divided into thermoset and thermoplastic segments based on resin type. Epoxy polyester hybrid, epoxy, polyester, acrylic, polyurethane, and others are further segments of thermoset. Polyvinyl chloride, nylon, polyvinyl fluoride (PVF), and polyolefin are other subcategories of thermoplastic. Epoxy resin-based powder coatings are gaining popularity because of the improved protection against repeated mechanical stress, weather, and wear and tear brought on by typical product lifecycles.

On the Basis of Coating Method

Acrylic and resin-based powder coating will have lucrative growth potential as consumer preference for durable coatings and high-quality finishes grows.

The electrostatic spray coating, fluidized bed coating, electrostatic fluidized bed procedure, and flame spraying segments of the powder coatings market are based on the coating method.

On the Basis of Substrate

The global market is divided into metallic and non-metallic segments based on substrate.

The powder coatings market's domestic, automotive, general industries, architectural, consumer goods, construction equipment, and furniture sectors are divided according to the end-user. The consumer goods application segment led the global market. Over the projection period, the segment is anticipated to experience significant expansion. The consumer goods sector is anticipated to be driven by rising spending power, high standards of living, and expanding urbanization, which will increase product demand over the projected period.

Regional Analysis

Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific dominates the market.

The powder coatings market in Asia-Pacific is now the largest and one with the quickest growth. The demand is shifting to the Asia-Pacific region due to the economic downturn and market saturation in Europe and North America. This region has the most robust building industry, accounting for over 40% of global construction investment, and powder coating producers focus on it. India, China, and Indonesia are making significant investments in various end-use industries, which will likely impact how quickly the powder coatings market share expands in these nations. With increased income levels, demand is also rising in the area. To meet the need for powder coatings, numerous foreign companies are investing in these nations markets investing in these nations' markets.

Early in January 2020, the coronavirus began to spread throughout China. Expanding to neighboring Asian nations, including Japan, South Korea, and Thailand, quickly led to a pandemic with rapid positive cases and fatalities. National governments announced lockdowns in the Asia Pacific region due to this crisis, which reduced traffic, mining and building activity, manufacturing output, and other economic activities. China is a global manufacturing hub; thus, the impact of COVID-19 is expected to be much greater there. The powder coatings market in the Asia Pacific is anticipated to contract in 2020 due to the factors mentioned above.

Powder Coatings Market Regional Analysis
Regional Growth Insights Download Free Sample

Top Key Players of Powder Coatings Market

  1. PPG Industries Inc. (Pennsylvania U.S.)
  2. Akzo Nobel N.V. (Amsterdam Netherlands)
  3. Berger Paints India Limited (West Bengal India)
  4. BASF SE (Ludwigshafen Germany)
  5. Jotun (Sandefjord Norway)
  6. Axalta Coating Systems LLC (Philadelphia U.S.)
  7. The Sherwin-Williams Company (Cleveland U.S.)
  8. Asian Paints (Mumbai India)
  9. Kansai Nerolac Paints Limited (Mumbai India)
  10. TCI Powder (Americus U.S.)

Report Scope

Report Metric Details
CAGR 7.29%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Resin Type
    1. Thermoset
      1. Epoxy Polyester
      2. Polyester
      3. Epoxy
      4. Polyurethane
      5. Acrylic
      6. Others
    2. Thermoplastics
      1. Polyvinyl chloride (PVC)
      2. Nylon
      3. Polyolefin
      4. Polyvinyl Fluoride (PVF)
  2. By Coating Method
    1. Electrostatic Spray Coating
    2. Fluidized Bed Coating
    3. Electrostatic Fluidized Bed Procedure
    4. Flame Spraying
  3. By Substrate
    1. Metallic
    2. Non-Metallic
  4. By End-Users
    1. Appliances
    2. Automotive
    3. General Industries
    4. Architectural
    5. Consumer Goods
    6. Construction Equipment
    7. Furniture
Geographies Covered
  • North America
  • Europe
  • APAC
  • Middle East and Africa

Recent Developments

  • On April 1, 2022, PPG Industries said it had finished buying Milan, Italy-based industrial coatings manufacturer Arsonsisi's powder coating production division.
  • In May 2022, the "Automotive Coatings Application Center" in Mangalore was expanded by BASF India's Coatings division. As a result, the business wishes to improve its ability to provide customer service.

Powder Coatings Market Segmentation

The global powder coatings market is divided into five parts resin type, coating method, substrate, end-user, and region.

By Resin Type

  • Thermoset

    • Epoxy Polyester
    • Polyester
    • Epoxy
    • Polyurethane
    • Acrylic
    • Others
  • Thermoplastics

    • Polyvinyl chloride (PVC)
    • Nylon
    • Polyolefin
    • Polyvinyl Fluoride (PVF)

By Coating Method

  • Electrostatic Spray Coating
  • Fluidized Bed Coating
  • Electrostatic Fluidized Bed Procedure
  • Flame Spraying

By Substrate

  • Metallic
  • Non-Metallic

By End-Users

  • Appliances
  • Automotive
  • General Industries
  • Architectural
  • Consumer Goods
  • Construction Equipment
  • Furniture

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East & Africa
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