Powder Coatings Industry Overview

The global powder coatings market size was valued at USD 11.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.2%.

The emerging economies of Asia Pacific and MEA regions have witnessed strong growth in non-residential sectors including consumer goods, IT, telecom, and retail resulting in growth in product demand. The growing number of consumer goods companies in India, China, and Singapore is expected to augment market development in the near future. Powder coatings have numerous advantages over other coatings, such as lower operating costs, immediate availability, negligible VOC emission, excellent appearance, and uniform thickness.

In addition, they are relatively easy to apply in thick layers of coating, which results in a smooth, uniform appearance.

Gather more insights about the market drivers, restrains and growth of the Global Powder Coatings Market

A rise in the production of automobiles and the surge in demand for medical devices are expected to be major factors driving the market growth in developing nations including India, China, Brazil, and Mexico over the forecast period. Moreover, high product adoption in the furniture sector on account of its excellent performance, low operational costs, color availability, and custom properties, such as anti-corrosion and anti-bacterial functions, will stimulate market growth.

Powder coatings do not contain any solvents, which results in negligible emission of VOC in the atmosphere and reduced risk in combustion during application and storage. In addition, the powder can be easily washed off when it comes in contact with human skin, which reduces health hazards for operators.

Raw materials used in product manufacturing include thermoplastic and thermoset resins. Thermoplastic comprises nylon, PVC, polyolefin, ABS, and polycarbonate coatings while thermoset comprises coatings made of epoxy, polyester, polyurethane, and acrylic coatings. Volatility in raw material prices affects the powder coating raw material pricing.

Browse through Grand View Research’s Paints, Coatings And Printing Inks Industry Research Reports.

• Plastic Compounds Market: The plastic compounds market size was valued at USD 66.74 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2021 to 2028. Increasing demand from the automotive industry is anticipated to significantly drive the market growth during the forecast period.

• Modified Polypropylene Market: The global modified polypropylene market size was valued at USD 34.12 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2030. The growth of the market is attributed to the use of modified polypropylene in the automotive, electrical and electronics, packaging, medical, building and construction, and other industries.

Powder Coatings Market Segmentation

Grand View Research has segmented the global powder coatings market on the basis of resin, application, and region:

Powder Coatings Resin Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 – 2028)

• Epoxy

• Polyester

• Epoxy-polyester (Hybrid)

• Acrylic

• Polyurethane

• Others

Powder Coatings Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 – 2028)

• Consumer Goods

• Architectural

• Automotive

• General Industries

• Furniture

• Others

Powder Coatings Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 – 2028)

• North America

• Europe

• Asia Pacific

• Central and South America

• Middle East and Africa

Key Companies profiled:

Some prominent players in the Global Powder Coatings Market include

• Akzo Nobel N.V

• The Sherwin-Williams Company

• PPG Industries, Inc.

• BASF SE

• DSM

• Valspar

• Arkema S.A.

• Bayer AG

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