Powder Coatings Market Size, Share, and Trends Analysis Report, By Resin Type (Thermoset, and Thermoplastic), By Coating Method (Electrostatic Spray, Fluidized Bed, and Others), and By Application (Appliances, Automotive, Architectural, Furniture, Agriculture, Construction & Earthmoving Equipment (ACE), General Industrial, and Others) Forecast Period (2022-2028)

The global powder coatings market is anticipated to grow at a significant CAGR of 6.7 % during the forecast period (2022-2028). Powder coatings provide a cost-effective, long-lasting, and robust surface for metal components and items. Only a few of the benefits include superior durability, scratch resistance, gloss retention, and chalk resistance. It’s typically used on metal products that are exposed to extreme weather. It complies with AAMA requirements and is a method that is environmentally friendly. As powder coatings do not contain solvents or volatile organic chemicals, they are less expensive than liquid coatings (VOCs).

Powder coatings have grown in popularity as a result of technological improvements and increased demand from industries such as architecture, appliances, automotive, furniture, agriculture, construction, earthmoving equipment (ACE), general industrial, and others. Due to it being a volatile organic compound (VOC) and solvent-free tendency, the market is expected to grow at a substantial rate during the forecast period.  Environmental regulations are additionally, assisting in the growth of the powder coatings industry. IT and telecommunications are two new areas where powder coatings are being widely investigated. Powder coating is additionally, used on door handles, bumpers, window handles, and other parts of automobiles, such as radiator coil springs, shock absorbers, and breaking parts. These factors associated with powder coating that is expected to grow the market.

The Asia-Pacific powder coatings market is predicted to develop at the fastest CAGR in terms of both volume and value due to its stable economy, increasing disposable income, and improved standards of life in countries such as China, Japan, and Singapore, Malaysia, and Vietnam. Due to proactive government steps to promote the adoption of eco-friendly coating methods such as powder coatings, the powder coatings market is likely to rise rapidly during the forecast period. Due to the low cost of raw materials, the Chinese metal furniture sector is predicted to grow rapidly during the projection period.

Some key players in the market include Akzo Nobel N.V., PPG Industries Inc., Sherwin Williams Co., BASF SE, and Axalta Coating Systems Ltd., among others. The market players are additionally, contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance,

• In December 2021, PPG Industries, Inc. spent USD 2.7 million in Sumaré, Brazil, to increase its powder coatings manufacturing capabilities. Beginning in the third quarter of 2022, the project will expand the plant’s powder coatings manufacturing capacity by almost 40%.
• In February 2021, In Como, Italy, AkzoNobel N.V. opened a new R&D facility that includes an application lab, a processing lab, and an analytical and testing lab. This facility specializes in producing low-cure powder coatings for heat-sensitive substrates.

 

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Resin Type
  • By Coating Method
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

Competitive Landscape- Akzo Nobel N.V., PPG Industries Inc., Sherwin Williams Co., BASF SE, Axalta Coating Systems Ltd., among others.

 

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Powder Coatings Market Report by Segment

By Resin Type

• Thermoset
• Thermoplastic

By Coating Method

• Electrostatic Spray
• Fluidized Bed
• Others

By Application

• Appliances
• Automotive
• Architectural
• Furniture
• Agriculture
• Construction & Earthmoving Equipment (ACE)
• General Industrial
• Others

Global Powder Coatings Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa