The powder coatings market was valued at $13.3 billion in 2022, and is estimated to reach $20.8 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.
Powder coatings exhibit superior resistance to chemicals and corrosion, making them suitable for use in harsh environments. This property is particularly advantageous in industrial applications and outdoor settings. Powder coating processes are generally more cost-effective than traditional liquid coating methods. The efficiency in material usage, reduced waste, and the ability to reclaim overspray contribute to cost savings in both material and labor. Powder coatings find extensive use in various industries due to their numerous advantages. The versatility of powder coatings makes them suitable for a wide range of applications.
Growth in the construction and infrastructure sector is a significant driver of the powder coatings market. This is attributed to the fact that powder coatings are extensively used in the construction and architectural industry for various applications. Metal components, such as window frames, doors, and facades, are often coated with powder coatings to provide both aesthetic appeal and durable protection against weathering. Powder coatings are commonly applied to metal cladding used in buildings. Metal cladding serves both functional and decorative purposes, and powder coatings contribute to the durability and corrosion resistance of these structures. Outdoor architectural elements, such as railings, fences, and gates, benefit from the protective properties of powder coatings. These coatings help prevent corrosion and maintain the appearance of these structures in diverse weather conditions.
Moreover, powder coatings are applied to various outdoor structures such as pergolas, canopies, and decorative metal features in landscaping. The coatings provide not only protection against the elements but also contribute to the overall aesthetics of outdoor spaces. As countries invest in infrastructure development, such as bridges, highways, and public transportation systems, powder coatings become essential for coating metal components used in these projects. The coatings contribute to the longevity and corrosion resistance of critical infrastructure.
Furthermore, powder coatings offer cost-effective solutions for large-scale architectural and infrastructure projects. The efficiency in material usage, reduced waste, and compliance with environmental regulations make powder coatings an attractive choice for builders and developers looking for sustainable and environmentally friendly coating options. In addition, wide range of colors and finishes available in powder coatings allows architects and designers to choose coatings that meet specific aesthetic requirements. This versatility enhances the visual appeal of architectural structures and contributes to the overall design intent. With increasing focus on environmental regulations and green building practices, powder coatings, which are low in volatile organic compounds (VOCs) and environmentally friendly, align with sustainability goals in construction projects.
The global powder coatings market is segmented into resin type, coating method, application, and region. By resin type, the market is divided into thermoset and thermoplastic. Depending on coating method, it is categorized into electrostatic spray and fluidized bed. On the basis of application, it is categorized into appliances, automotive, architectural, furniture, agriculture, construction, and earthmoving equipment (ACE), general industrial, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global 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, and Tiger Coatings. Other players include Asian Paints Limited, Nippon Paint Holdings Co., Ltd., IGP Powder Coatings, TCI Powder, and Berger Paints India Limited.
Powder coatings exhibit superior resistance to chemicals and corrosion, making them suitable for use in harsh environments. This property is particularly advantageous in industrial applications and outdoor settings. Powder coating processes are generally more cost-effective than traditional liquid coating methods. The efficiency in material usage, reduced waste, and the ability to reclaim overspray contribute to cost savings in both material and labor. Powder coatings find extensive use in various industries due to their numerous advantages. The versatility of powder coatings makes them suitable for a wide range of applications.
Growth in the construction and infrastructure sector is a significant driver of the powder coatings market. This is attributed to the fact that powder coatings are extensively used in the construction and architectural industry for various applications. Metal components, such as window frames, doors, and facades, are often coated with powder coatings to provide both aesthetic appeal and durable protection against weathering. Powder coatings are commonly applied to metal cladding used in buildings. Metal cladding serves both functional and decorative purposes, and powder coatings contribute to the durability and corrosion resistance of these structures. Outdoor architectural elements, such as railings, fences, and gates, benefit from the protective properties of powder coatings. These coatings help prevent corrosion and maintain the appearance of these structures in diverse weather conditions.
Moreover, powder coatings are applied to various outdoor structures such as pergolas, canopies, and decorative metal features in landscaping. The coatings provide not only protection against the elements but also contribute to the overall aesthetics of outdoor spaces. As countries invest in infrastructure development, such as bridges, highways, and public transportation systems, powder coatings become essential for coating metal components used in these projects. The coatings contribute to the longevity and corrosion resistance of critical infrastructure.
Furthermore, powder coatings offer cost-effective solutions for large-scale architectural and infrastructure projects. The efficiency in material usage, reduced waste, and compliance with environmental regulations make powder coatings an attractive choice for builders and developers looking for sustainable and environmentally friendly coating options. In addition, wide range of colors and finishes available in powder coatings allows architects and designers to choose coatings that meet specific aesthetic requirements. This versatility enhances the visual appeal of architectural structures and contributes to the overall design intent. With increasing focus on environmental regulations and green building practices, powder coatings, which are low in volatile organic compounds (VOCs) and environmentally friendly, align with sustainability goals in construction projects.
The global powder coatings market is segmented into resin type, coating method, application, and region. By resin type, the market is divided into thermoset and thermoplastic. Depending on coating method, it is categorized into electrostatic spray and fluidized bed. On the basis of application, it is categorized into appliances, automotive, architectural, furniture, agriculture, construction, and earthmoving equipment (ACE), general industrial, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global 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, and Tiger Coatings. Other players include Asian Paints Limited, Nippon Paint Holdings Co., Ltd., IGP Powder Coatings, TCI Powder, and Berger Paints India Limited.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the powder coatings market analysis from 2022 to 2032 to identify the prevailing powder coatings market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the powder coatings market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global powder coatings market trends, key players, market segments, application areas, and market growth strategies.
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- SWOT Analysis
Key Market Segments
By Resin Type
- Thermoset
- Thermoplastic
By Coating Method
- Electrostatic Spray
- Fluidized Bed
By Application
- Appliances
- Automotive
- Architectural
- Furniture
- Agriculture, Construction, and Earthmoving Equipment (ACE)
- General Industrial
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Akzonobel N.V.
- PPG Industries Inc
- Sherwin Williams
- BASF SE
- Axalta Coating Systems
- Kansai Nerolac Paints Limited
- Jotun
- IFS Coatings
- The Valspar Corporation
- Tiger Coatings
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: POWDER COATINGS MARKET, BY RESIN TYPE
CHAPTER 5: POWDER COATINGS MARKET, BY COATING METHOD
CHAPTER 6: POWDER COATINGS MARKET, BY APPLICATION
CHAPTER 7: POWDER COATINGS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Akzonobel N.V.
- PPG Industries Inc
- Sherwin Williams
- BASF SE
- Axalta Coating Systems
- Kansai Nerolac Paints Limited
- Jotun
- IFS Coatings
- The Valspar Corporation
- Tiger Coatings
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | January 2024 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 13.3 billion |
| Forecasted Market Value ( USD | $ 20.8 billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
