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Powder Coatings Market Expected to Reach $20.8 Billion by 2032—Allied Market Research

 
2022
Powder Coatings Market

Report Code : A01100

quote The powder coatings market is expected to possess high growth potential in the coming years, due to surge demand from the automotive industry coupled with increased industrialization and manufacturing activities. However, high initial investment is hampering the market. On the contrary, increase in emphasis on sustainability and green building practices is anticipated to provide lucrative opportunities for the growth of the global powder coatings market in the coming future. quote

Yerukola Eswara Prasad - Manager
Materials and Chemicals at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Powder Coatings Market," The powder coatings market size was valued at $13.3 billion in 2022, and is estimated to reach $20.8 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.

Powder coating is a finishing material commonly used to apply a protective and decorative coating to various types of surfaces, such as metal, wood, and plastic. It involves applying a dry powder made of finely ground particles onto the surface, which is then heated to fuse and bond the powder particles together, creating a smooth, durable, and uniform coating. The advantages of powder coating over conventional liquid paint include superior durability, resistance to chipping, scratching, and fading, as well as a wide range of color options. It is further an environmentally friendly process since it produces minimal waste, and any overspray can be collected and reused.

Powder coating finds applications in various industries, including automotive, appliances, architecture, and furniture. It is used on a wide range of products, from metal parts and machinery to household items and outdoor furniture, providing a durable and aesthetically pleasing finish. In addition, they are environmentally friendly as they contain little to no volatile organic compounds (VOCs). The application process generates minimal waste, and the absence of solvents makes powder coatings a more sustainable and eco-friendly option compared to some liquid coatings.

Powder coating is popular for architectural and construction applications due to its durability, weather resistance, and aesthetic versatility. It is used to coat metal doors, window frames, fences, railings, aluminum extrusions, and other structural elements. The wide range of colors and finishes allows for customization to match different architectural styles and design requirements. Many furniture pieces, including outdoor furniture, utilize powder coating for a durable and attractive finish. It provides resistance to scratches, impacts, and fading, making it suitable for both indoor and outdoor furniture. Appliances such as refrigerators, washing machines, and ovens further benefit from powder coating for their aesthetic appeal and durability.

Powder coating is applied to metal enclosures and cabinets used in electronics and electrical equipment. It offers protection against corrosion, moisture, and chemical exposure while providing an appealing appearance. The powder coating can be formulated with electrostatic discharge (ESD) properties for applications that require static control. Many sporting goods and recreational equipment manufacturers use powder coating to enhance the appearance and durability of their products. Items such as bicycles, golf clubs, exercise equipment, playground equipment, and outdoor sports equipment benefit from the corrosion resistance and impact resistance provided by powder coating.

Powder coating is commonly used in the industrial sector to coat machinery, equipment, and metal parts. It provides protection against wear, corrosion, and chemical exposure, extending the lifespan of the equipment. Moreover, its smooth and even finish allows for easy cleaning and maintenance. Thus, it is utilized in retail environments for fixtures such as shelves, racks, displays, and store fittings. Furthermore, it offers a durable, scratch-resistant, and visually appealing finish that withstands the demands of commercial use. In addition, versatility, durability, and aesthetic options provided by powder coatings make it a preferred choice in numerous industries where protection, longevity, and visual appeal are important.

Moreover, the demand for powder coatings has increased owing to rapid technological advancements and increasing demand from applications such as architectural; appliances; automotive; furniture; agriculture, construction, and earthmoving equipment (ACE); general industrial; and others. This trend is expected to continue as powder coatings are VOC- and solvent-free.

The global powder coatings market is segmented into resin type, coating method, application, and region. By resin type, the market is divided into thermoset and thermoplastic. Depending on coating method, it is categorized into electrostatic spray and fluidized bed. On the basis of application, it is categorized into appliances, automotive, architectural, furniture, agriculture, construction, and earthmoving equipment (ACE), general industrial, and others. Region wise, the powder coatings market share is studied across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the global powder coatings industry are AkzoNobel N.V., PPG Industries, Sherwin Williams, BASF SE, Axalta Coating Systems, Kansai Nerolac Paints Limited, Jotun, IFS Coatings, The Valspar Corporation, and Tiger Coatings. Other players include Asian Paints Limited, Nippon Paint Holdings Co., Ltd., IGP Powder Coatings, TCI Powder, and Berger Paints India Limited.

Key Findings Of The Study:

  • Depending on resin type, the thermoset segment was the highest contributor to the market.
  • On the basis of coating method, the electrostatic spray segment dominated the market in 2022.
  • By application, the appliances segment is expected to be the leading segment during the forecast period.
  • Region wise, Asia-Pacific was the highest revenue contributor in 2022. Asia-Pacific and North America are expected to witness considerable CAGRs of 4.8% and 4.6%, respectively, during the forecast period.

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quote Powder Coatings Market by Resin Type (Thermoset, Thermoplastic), by Coating Method (Electrostatic Spray, Fluidized Bed?), by Application (Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, and Earthmoving Equipment (ACE), General Industrial, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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