Home > Polymers & Advanced Materials > Powder Coatings Market

Powder Coatings Market Size By Resin (Thermoplastic, Thermoset, Fusion Bonded Epoxy), By Application (Architectural, Jobbers, Agriculture & Construction Equipment, Pipeline, Oil & Gas, Appliances, General Metal [Outdoor Furniture & Playground Equipment], Automotive & Transportation Components [Wheels]), By Substrate (Metallic, Non Metallic), COVID-19 Impact Outlook, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI379
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Statistics

Powder Coatings Market size was worth more than USD 13.5 billion in 2022 and is anticipated to exhibit over 5.5% CAGR from 2023-2032. Growing focus on VOC reduction is expected to complement the industry expansion.
 

Powder Coatings Market

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High spending on construction activities will drive new growth opportunities in the powder coatings industry. According to the U.S. Census Bureau data, construction spending was recorded at USD 1,639.9 billion in December 2021, showcasing a 9% growth from the previous year. Powder-coated products have a widespread application in the architectural sector. These coatings are available in a variety of finishes and colors and offer exceptional durability.
 

Technological advancements in fluoropolymer powders and polyester-TGIC have enabled the introduction of novel powder coatings which are resistant to fading, durability, and weatherability equivalent to liquid architectural coatings. Outdoor stadium seating, window & door frames, modular furniture, guard rails, light poles, and plumbing fixtures are some of the common architectural applications of powder coatings.
 

High cost of machinery and tools required in powder coating applications could restrain powder coatings market growth. Specialized electrostatic spray equipment is one such tool that is needed for applying powder coating on various surfaces. Technological advancements have improved the way powder coatings are applied. However, sophisticated equipment for powder coating is higher in terms of cost. For instance, electrostatic sprayers need higher initial investments and are therefore more expensive than manual spraying methods.
 

Thermoset powder coatings in demand among electric appliance makers

Global Powder Coatings Market, By Resins

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Powder coatings market share from thermoset resins is expected to reach over USD 23.5 billion by 2032. Thermoset is a type of solid resin used in powder coating products, which contains a heat-stimulated catalyst that forms cross-linking upon exposure. There is an increasing demand for these resins as they offer features like high levels of temperature, impact, and corrosion resistance. Thermoset powder coatings consist of thermosetting polymers that need relatively lower curing temperatures than their thermoplastic counterparts. They are extensively used by appliance manufacturers to coat products such as water heaters, refrigerators, dishwasher racks, dryer drums, freezer cabinets, and air-conditioner cabinets.
 

Rise in recreational infrastructure projects to drive general metal powder coating applications

Global Powder Coatings Market, By Application

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Powder coatings market from general metal application is estimated to surpass USD 8.5 billion by 2032. General metal powder coatings are applied on metal fabricated goods to provide protection against corrosion. With increasing residential construction activities and growing recreational infrastructure investments, general metal applications of powder coatings have picked up pace. These include coating requirements for exterior components such as garden furniture, playground equipment, and fencing products. Manufacturers are developing advanced powder coatings with color consistency, durability, anti-gassing, and variable bake to address the surging demand for general metal powder coatings.
 

Wide application in the industrial sector to accelerate the demand for metallic powder coatings

Global Powder Coatings Market, By Substrate

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In terms of volume, powder coatings industry from the metal substrate segment is projected to reach over 6.5 million tons by 2032. Metallic substrates comprise of parts, objects, and materials made from metals such as copper, iron, steel, lead, aluminum, and their alloys. Metal coating is an effective method to prevent corrosion and deterioration of parts. Metallic powder coatings are either bonded or unbonded. Bonded metallics are easier to apply and offer a smoother finish to the end products. Post-pandemic recovery of the steel sector in developing economies will drive lucrative demand for these coatings.
 

Increase investment in home decor to augment APAC powder coatings market size

Global Powder Coatings Market, By Region

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Asia Pacific powder coatings market is anticipated to expand at over 6% CAGR between 2023-2032. Rising disposable income, rapid urbanization, sustainable economic growth, and improving lifestyles in countries such as India, South Korea, and China will pave the way for industry expansion across the region. Over the last decade, the architectural and home décor landscape has undergone a significant transformation with an increasing inclination toward western trends and culture. Consumers are preferring modular kitchens & lighting along with multifunctional furniture. Furthermore, the region is expected to emerge as a hotspot for powder coating manufacturers due to the abundance of raw materials.
 

New product launches to boost powder coatings industry development

Some of the leading companies in the global powder coatings market include Kansai Paints, AkzoNobel N.V., Asian Paints, BASF, Axalta Coating System, PPG Industries, RPM International, The Valspar Corporation, The Sherwin-Williams Company, Dulux Powder & Industrial Coating, Jotun Powder Coatings, Somar Corporation, Marpol, Protech Oxyplast Powder Coating, Dupont Coating & Color Technologies Group, Nippon Paint Co. Ltd., Cloverdale Paint Inc., Vogel Paint Inc., Hentez Coating Inc., and Evonik Industries.
 

Impact of COVID-19 pandemic on global powder coatings market trends

The COVID-19 pandemic resulted in unprecedented repercussions on the powder coatings industry. Finishing and coating shops worldwide reported significant disruptions. According to a survey of over 200 shops in the powder coating industry conducted by FinishinAndCoating, more than 77% of shops reported a negative impact of pandemic-driven supply chain issues on finishing operations.
 

Due to lockdown restrictions and social distancing norms, businesses struggled with day-to-day operations to meet manufacturing goals. While many small-scale units shut down, large-scale companies continued to work with a limited workforce and adhere substantial losses due to uncertain productivity. The pandemic also limited innovation in paints and coatings due to a lack of laboratory activities.
 

The Global Powder Coatings Market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD Million from 2018 to 2032 for the following segments:

By Resin

  • Thermoplastic
    • Nylon
    • Others(PVC, Polyolefin, ABS, Polycarbonate)
  • Thermoset
    • Epoxy
    • Polyester
    • Polyurethane
    • Acrylic
    • Epoxy polyester hybrid
  • Fusion bonded epoxy

By Application

  • Architectural
  • Jobbers
  • Agricultural/Construction equipment
  • Pipeline
  • Oil & Gas
  • Appliances
  • General Metal
    • Furniture
    • Others
  • Automotive & transportation components
    • Wheels
    • Others
  • Others

By Substrate

  • Metal
  • Non-Metal

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Netherlands
    • Poland
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Indonesia
    • Thailand
  • Latin America
    • Brazil
    • Argentina
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market size for powder coatings was worth more than USD 13.5 billion in 2022 and is anticipated to exhibit over 5.5% CAGR from 2023-2032.

Powder coatings industry share from thermoset resins is expected to reach over USD 23.5 billion by 2032 due to its various applications in appliances such as dryer drums, freezer cabinets, and water heaters.

Asia Pacific powder coatings industry is anticipated to expand at over 6% CAGR between 2023-2032 driven by rising disposable income and rapid urbanization.

Kansai Paints, Asian Paints, BASF, PPG Industries, RPM International, Somar Corporation, Marpol, and Evonik Industries are some of the major manufacturers in the global powder coatings business.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 583
  • Countries covered: 23
  • Pages: 650

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