Powder Coatings Market Report 2023

Powder Coatings Global Market Report 2023 – By Type (Thermoset, Thermoplastic), By Coating Method (Electrostatic Spray, Fluidized Bed), By End Userr Application (Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, and Earthmoving Equipment (ACE), General Industrial, Other End-User Applications) – Market Size, Trends, And Global Forecast 2023-2032

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Powder coating is a finishing process that keeps the binder and filler parts in a liquid suspension form. Powder coating is a technique that generally involves coating an entity with free-flowing, dry powder electrostatically and then curing it under heat or with ultraviolet light.

The main types of powder coatings are thermoset and thermoplastic. Thermoset materials are used in the majority of powder coating techniques because they can offer a durable and beautiful surface layer. The main coating methods are electrostatic spray and the fluidized bed that is applied in appliances, automotive, architectural, furniture, agriculture, construction, earthmoving equipment (ACE), general industrial, and other sectors.

The global powder coatings market 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, & Earthmoving Equipment (ACE), General Industrial, Other End-User Applications

The global powder coatings market size will grow from $17.82 billion in 2022 to $19.15 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global powder coatings is expected to grow from $24.79 billion in 2027 at a CAGR of 6.7%.

Powder coatings release a negligible amount of volatile organic compounds (VOC) when compared to solvent-based coatings. VOCs are carbon compounds that become gas at room temperature and are the main reason for air pollution. Governments across the world are trying to enforce different regulatory acts to reduce the emissions of VOCs. For instance, to reduce the emission of VOC, the Hong Kong government has implemented a regulation that restricts products that exceed the standard emission of VOC in the country. Thus, limitations on products that generate high VOCs promote the sales of powder coatings, thereby driving the market.

Major players in the powder coatings market are AkzoNobel N.V., PPG Industries, Sherwin Williams, BASF SE, Axalta Coating Systems, Kansai Nerolac Paints Limited, Jotun, IFS Coatings, The Valspar Corporation, Asian Paints, and RPM International

Powder coating is an energy-intensive process that consumes more energy during the curing process. Curing is a chemical process where paint is allowed to dry and harden. The high consumption of energy increases the operating expenses of manufacturing companies. For example, in Sweden, nearly 350 powder coating plants are using more than one metric ton of coating powder, which accounts for the total energy usage of 525 GWh/year, corresponding to 1.5 GWh/year per plant. Thus, the high energy consumption of powder coating restrains the growth of the market.

Companies are now focusing on a new coating technology for heat-sensitive substrates such as medium-density fiberboard (MDF). This technology consumes less power as the curing process is done at a lower temperature compared to the conventional method. For instance, IGP-RAPID, released by IGP, is based on new raw materials combined with IGP technology and enables low-temperature powder coatings at 266 °F (130 °C) and curing times of 3 minutes. This technology is ecological, enhances product design, and provides long-term functional protection.

Asia-Pacific was the largest region in the powder coatings market in 2022. Western Europe was the second-largest region in the global powder coatings market. The regions covered in the global powder coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the powder coatings market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.

The powder coating market consists of the sales of epoxies, polyesters, super durable polyesters, epoxy-polyester hybrids, fluoropolymers, and urethanes powder coatings. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The powder coatings market research report is one of a series of new reports from The Business Research Company that provides powder coatings market statistics, including powder coatings industry global market size, regional shares, competitors with a powder coatings market share, detailed powder coatings market segments, market trends and opportunities, and any further data you may need to thrive in the powder coatings industry. This powder coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

    Table Of Contents

    1. Executive Summary

    2. Powder Coatings market Characteristics

    3. Powder Coatings market Trends And Strategies

    4. Powder Coatings Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Powder Coatings Market

    4.2 Ukraine-Russia War Impact On Powder Coatings Market

    4.3 Impact Of High Inflation On Powder Coatings Market

    5. Powder Coatings market Size And Growth

    5.1. Global Powder Coatings Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Powder Coatings Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Powder Coatings market Segmentation

    6.1. Global Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Thermoset

    Thermoplastic

    6.2. Global Powder Coatings market, Segmentation By End Userr Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Appliances

    Automotive

    Architectural

    Furniture

    Agriculture, Construction, & Earthmoving Equipment (ACE)

    General Industrial

    Other End-User Applications

    6.3. Global Powder Coatings market, Segmentation By Coating Method, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Electrostatic Spray

    Fluidized Bed

    7. Powder Coatings market Regional And Country Analysis

    7.1. Global Powder Coatings market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Powder Coatings market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Powder Coatings market

    8.1. Asia-Pacific Powder Coatings market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Powder Coatings market

    9.1. China Powder Coatings market Overview

    9.2. China Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Powder Coatings market

    10.1. India Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Powder Coatings market

    11.1. Japan Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Powder Coatings market

    12.1. Australia Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Powder Coatings market

    13.1. Indonesia Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Powder Coatings market

    14.1. South Korea Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Powder Coatings market

    15.1. Western Europe Powder Coatings market Overview

    15.2. Western Europe Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Powder Coatings market

    16.1. UK Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Powder Coatings market

    17.1. Germany Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Powder Coatings market

    18.3. France Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Powder Coatings market

    19.1. Eastern Europe Powder Coatings market Overview

    19.2. Eastern Europe Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Powder Coatings market

    20.1. Russia Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Powder Coatings market

    21.1. North America Powder Coatings market Overview

    21.2. North America Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Powder Coatings market

    22.1. USA Powder Coatings market Overview

    22.2. USA Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Powder Coatings market

    23.1. South America Powder Coatings market Overview

    23.2. South America Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Powder Coatings market

    24.1. Brazil Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Powder Coatings market

    25.1. Middle East Powder Coatings market Overview

    25.2. Middle East Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Powder Coatings market

    26.1. Africa Powder Coatings market Overview

    26.2. Africa Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Powder Coatings market Competitive Landscape And Company Profiles

    27.1. Powder Coatings market Competitive Landscape

    27.2. Powder Coatings market Company Profiles

    27.2.1. AkzoNobel N.V.

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. PPG Industries

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Sherwin Williams 

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. BASF SE

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Axalta Coating Systems 

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    29. Key Mergers And Acquisitions In The Powder Coatings market

    29. Powder Coatings market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global Powder Coatings market, Segmentation By End Userr Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global Powder Coatings market, Segmentation By Coating Method, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global Powder Coatings market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global Powder Coatings market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Asia-Pacific, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: China, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: India, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: Japan, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Australia, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Indonesia, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: South Korea, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: Western Europe, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: UK, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: Germany, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: France, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: Eastern Europe, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Russia, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: North America, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: USA, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: South America, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: Brazil, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Middle East, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Africa, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: AkzoNobel N.V. Financial Performance
  • Table 28: PPG Industries Financial Performance
  • Table 29: Sherwin Williams  Financial Performance
  • Table 30: BASF SE Financial Performance
  • Table 31: Axalta Coating Systems  Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global Powder Coatings market, Segmentation By End Userr Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global Powder Coatings market, Segmentation By Coating Method, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global Powder Coatings market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global Powder Coatings market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Asia-Pacific, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: China, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: India, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: Japan, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Australia, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Indonesia, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: South Korea, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: Western Europe, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: UK, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: Germany, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: France, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: Eastern Europe, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Russia, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: North America, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: USA, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: South America, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: Brazil, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Middle East, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Africa, Powder Coatings market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: AkzoNobel N.V. Financial Performance
  • Figure 28: PPG Industries Financial Performance
  • Figure 29: Sherwin Williams  Financial Performance
  • Figure 30: BASF SE Financial Performance
  • Figure 31: Axalta Coating Systems  Financial Performance
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