Global Powder Coatings Market to Reach USD 20.22 Billion by 2031 | CAGR of 4.9%
Category : Materials And Chemicals | Published Date : Nov 2024 | Type : Press Release
Powder Coatings Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, thePowder Coatings Market was valued at USD 14.47 Billion in 2023 and is projected to reach USD 20.22 Billion by 2031, growing at a CAGR of 4.9% from 2024 to 2031. Powder coatings are a type of dry finishing process widely used in industries for providing decorative and protective finishes to metal substrates. Unlike liquid coatings, powder coatings are applied as free-flowing powders and cured under heat, resulting in a durable, uniform, and high-quality finish that is resistant to corrosion, chemicals, and weathering.
The report comprises the Powder Coatings Market Share, Size & Industry Analysis, By Resin Type (Thermoset, Epoxy, Polyester, Epoxy-Polyester Hybrid, Acrylic, Polyurethane, Thermoplastic), Coating Method (Electrostatic Spray, Fluidized Bed), Substrate (Metal, Non-Metal), By End-User Industry (Automotive, Aerospace, Marine, Industrial, Architectural, Electronics, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Powder Coatings Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Increased demand from automotive and industrial sectors and advances in powder coating technology are propelling market growth while increasing use in renewable energy applications offers future opportunities.
Segmental Analysis :
Based on resin type, the market is segmented into thermoset (epoxy, polyester, epoxy-polyester hybrid, acrylic, polyurethane) and thermoplastic (polyvinyl chloride (PVC), polyolefin, nylon, polyvinylidene fluoride (PVDF)).
- Polyester accounted for the largest revenue share in 2023, driven by its versatility across industries such as automotive, architecture, and consumer goods.
- Polyurethane is projected to grow at the fastest CAGR, offering superior durability, UV resistance, and weather protection, making it suitable for outdoor applications.
Based on the coating method, the market includes electrostatic spray and fluidized bed.
- Electrostatic spray dominated with a 36.47% revenue share in 2023, favored for its precision and efficiency in industrial and automotive applications.
- Fluidized bed is expected to grow rapidly, driven by its suitability for large parts and complex shapes in industries like construction and automotive.
Based on substrate, the market is bifurcated into metal and non-metal.
- Metal substrates held the largest share in 2023, with powder coatings widely used for their durability and corrosion resistance in automotive, industrial, and construction applications.
- Non-metal substrates are anticipated to grow at the fastest CAGR due to advances in powder coatings that enable applications on plastics, wood, and other materials.
Based on end-user industry, the market spans automotive, aerospace, marine, industrial, architectural, electronics, and others.
- Automotive accounted for the largest share in 2023, driven by high demand for durable, corrosion-resistant coatings for automotive parts like wheels, body panels, and chassis.
- Electronics is expected to register the fastest CAGR, with the increasing use of powder coatings for durable finishes on electronic devices and components.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific led the market in 2023, driven by demand in the construction and automotive sectors, with China holding the largest share.
- North America is expected to grow at the fastest CAGR, driven by technological advancements in powder coatings and increased automotive production in the U.S.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 20.22 Billion |
| CAGR (2024-2031) | 4.9% |
| By Resin Type | Thermoset (Epoxy, Polyester, Epoxy-Polyester Hybrid, Acrylic, Polyurethane), Thermoplastic (PVC, Polyolefin, Nylon, PVDF) |
| By Coating Method | Electrostatic Spray, Fluidized Bed |
| By Substrate | Metal, Non-Metal |
| By End User Industry | Automotive, Aerospace, Marine, Industrial, Architectural, Electronics, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Powder Coatings Industry:
- AkzoNobel N.V.(Netherlands)
- PPG Industries, Inc. Ltd. (USA)
- Axalta Coating Systems (USA)
- BASF SE (Germany)
- Jotun Group (Norway)
- Sherwin-Williams Company (USA)
- Kansai Paint Co., Ltd. (Japan)
- Nippon Paint Holdings Co., Ltd. (Japan)
- TCI Powder Coatings (USA)
- DSM Coating Resins (Netherlands)
Recent Industry Developments :
- In June 2024, Jotun launched the industry's first CX-rated anticorrosive powder coating solution for vital equipment protection.
- In December 2023, AkzoNobel Powder Coatings partnered with CoatingAI to optimize powder usage and enhance sustainability.
