What Is The Current and Historic Market Size Analysis Of The Powder Coatings Market?
The powder coatings market has seen considerable growth due to a variety of factors.
• In the past years, the powder coatings market has seen significant growth. The market size is projected to expand from $20.51 billion in 2024 to $22.18 billion in 2025, recording a compound annual growth rate (CAGR) of 8.1%.
The historic growth phase is largely due to factors such as durability and corrosion resistance, utilization in industrial and manufacturing sectors, the automotive industry, and architecture and building materials.
What are the Market Size and Expected Growth Rates for the Powder Coatings Market?
The powder coatings market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for powder coatings is predicted to exhibit robust growth in the coming years, reaching a value of $29.03 billion in 2029 with a compound annual growth rate (CAGR) of 7.0%.
This prospective surge in the forecast period is due to factors such as increased sustainability and reduced environmental impact, the advancement of renewable energy infrastructure, the expansion of the automotive industry, and the introduction of custom and functional coatings. The key trending influences in this period include technological evolution, the advent of intelligent coatings, integration of nanotechnology, and the emergence of bio-based powder coatings.
Which Key Drivers Are Propelling The Powder Coatings Market's Growth?
The forecasted growth of the powder coatings market is attributed to the rising demand within the construction sector. The construction industry, involves a variety of tasks associated with planning, designing, building, renovating, and maintaining physical buildings and infrastructure. Powder coatings are regularly employed on architectural elements like aluminium and steel window frames, doors, railings, and curtain wall systems due to their durability, resistance to weather, and appealing finish which significantly improves the appearance of structures. For example, the US Census Bureau, a government agency in the US, reported in July 2024 that construction operations' value increased from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Consequently, the burgeoning demand for the construction sector is fuelling the expansion of the powder coatings market.
What Are The Key Segments Within The Global Powder Coatings Market?
The powder coatings market covered in this report is segmented –
1) By Type: Thermoset, Thermoplastic
2) By Coating Method: Electrostatic Spray, Fluidized Bed
3) By End Userr Application: Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, And Earthmoving Equipment (ACE), General Industrial, Other End-User Applications
Subsegments:
1) By Thermoset: Epoxy, Polyester, Epoxy-Polyester Hybrid, Polyurethane, Acrylic
2) By Thermoplastic: Polyvinyl Chloride (PVC), Nylon, Polyolefin, Polyvinylidene Fluoride (PVDF)
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What Trends Are Reshaping The Future Of The Powder Coatings Market?
Businesses are now shifting their attention to innovative coating technology for heat-sensitive materials like medium-density fiberboard (MDF). Unlike traditional methods, this technology operates at a lower energy consumption due to the curing process happening at reduced temperatures. For example, IGP has introduced IGP-RAPID, which utilizes novel raw materials in conjunction with their technology to allow for low-temperature powder coatings at 266 °F (130 °C), and a swift curing time of just three minutes. Besides being environmentally friendly, this technology improves product aesthetics and delivers lasting functional protection.
Who Are the Key Players In The Powder Coatings Market?
Major companies operating in the powder coatings market include:
• AkzoNobel NV
• PPG Industries Inc.
• Sherwin-Williams Company
• BASF SE
• Axalta Coating Systems Ltd.
• Kansai Nerolac Paints Limited
• Jotun Group
• IFS Coatings
• Valspar Corporation
• Asian Paints Ltd.
• RPM International Inc.
• Dulux Powder & Industrial Coating
• DuPont de Nemours
• Inc.
• Somar Corporation
• Protech Group
• Nippon Paint Co. Ltd.
• Evonik Industries AG
• Berger Paints Limited
• IGP Pulvertechnik AG
• TIGER Coatings GmbH & Co. KG
• Cloverdale Paint Inc.
• Vogel Paint Inc.
• Hentzen Coating Inc.
• Alpha Coating Technologies Inc.
• Ferro arte de mexico sa de cv
• TCI Powder Coatings
• Prismatic Powders
• Precision Coatings Inc.
• S&B Finishing Co. Inc.
• Rohner Powder Coating
• Pro Powder & Paint Inc.
• Premier Powder Coating Ltd.
• Rite-Way Powder Coating Inc.
• Reliant Finishing Systems
What Are The Regional Insights Into The Powder Coatings Market?
Asia-Pacific was the largest region in the powder coatings market in 2023. Western Europe was the second-largest region in the global powder coatings market. The regions covered in the powder coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
