Powder Coatings Market Analysis | 2023-2028

Market Highlights

“The powder coatings market is likely to rebound at a promising CAGR of 5.2% in the long run to reach US$ 19.9 Billion in 2028”.

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Market Dynamics

Introduction

Powder coating is a type of dry finishing process used to apply a protective or decorative layer of color to a wide range of metal and non-metal surfaces. Unlike traditional liquid paint, which is applied as a wet, liquid solution and then dries, powder coating involves the application of a dry, finely ground powder. This powder is typically composed of a mixture of finely ground pigment particles and resin (often a type of thermosetting polymer).

Market Drivers

The adoption and growth of powder coatings in various industries are driven by several key factors. First and foremost, the durability and protective qualities of powder coatings make them a preferred choice for many applications. They provide excellent resistance to corrosion, abrasion, and weathering, extending the lifespan of coated products and reducing maintenance costs.

Environmental considerations are another significant driver. Powder coatings are environmentally friendly because they produce minimal volatile organic compounds (VOCs) and hazardous waste compared to traditional liquid paints.

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Key Players

The following are the key players in the Powder Coatings Market.

• The Sherwin-Williams Company
• PPG Industries, Inc
• AkzoNobel N.V.
• Jotun A/s
• Asian Paints Limited
• Kansai Paints Co., Ltd.
• Nippon Paint Holding Co., Ltd.
• RPM International, Inc
• Axalta Coating Systems LLC

Market Segment Analysis

By Resin Type

“Thermoset resin is expected to remain the larger and faster growing resin in the market during the forecast period”.

• The powder coatings market is segmented into thermoset and thermoplastic.
• Thermoset resin is expected to remain the larger and faster growing resin in the market during the forecast period due to their excellent durability, making it ideal for applications that require resistance to harsh environmental conditions, such as UV exposure, chemicals, abrasion, and corrosion.
• This durability ensures long-lasting protection and aesthetic appeal. Thermoset powder coatings can be applied to a broad spectrum of substrates, including metals, plastics, and wood. This versatility makes them suitable for various industries, from automotive and architecture to appliances and industrial equipment.

By Coating Methods

“Electrostatic spray coating dominates in the forecasted period”.

• The market is segmented into electrostatic spray coating, fluidized bed coating, and others.
• Electrostatic spray coating dominates in the forecasted period due to its exceptional efficiency, versatility, and cost-effectiveness. It ensures even, high-quality coatings by utilizing an electrostatic charge to attract powder particles to grounded substrates, resulting in excellent adhesion and minimal waste.
• This method's adaptability to various surfaces, reduced environmental impact, and ability to automate production processes make it the preferred choice for a wide range of applications.

By End-Use Industry

“Automotive is expected to remain dominant in the market during the forecast period”.

• The market is segmented into appliances, automotive, general industrial, architectural, furniture, and others.
• Automotive is expected to remain dominant in the market during the forecast period due to stringent quality and performance requirements, durability, and aesthetic demands within the automotive industry.
• Powder coatings offer exceptional corrosion resistance, chip protection, and long-lasting finishes, making them ideal for automotive components, such as wheels, chassis, and engine parts.
• Additionally, the environmental advantages, including lower VOC emissions and reduced waste, align with the automotive sector's sustainability goals. Powder coatings also allow for a wide range of colors and finishes, enabling automakers to achieve diverse aesthetic preferences and meet market demands.

Regional Analysis

“Asia-Pacific is expected to remain the largest market for powder coatings during the forecast period”.

• The region's rapid industrialization and urbanization have led to increased demand for powder coatings in the construction, automotive, and electronics industries.
• Simultaneously, the availability of raw materials, particularly in countries like China and India, has facilitated local production.
• Furthermore, rising environmental awareness and regulatory pressures have driven the adoption of eco-friendly powder coatings, aligning with the region's sustainability goals.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s powder coatings market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Market Segmentation

The powder coatings market is segmented into the following categories.

Powder Coatings Market, by Resin Type

• Thermoset (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Thermoplastic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Powder Coatings Market, by Coating Methods

• Electrostatic Spray Coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fluidized Bed Coating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Powder Coatings Market, by End-Use Industry

• Appliances (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• General Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Architectural (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Furniture (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Powder Coatings Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

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Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.