Powder Coating Market (By Resin: Polyester, Epoxy, Epoxy-Polyester, Polyurethane, Acrylic; By Application: Automotive, Consumer Goods, Architectural, Furniture, Oil and Gas, Pipeline) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2023 - 2032
The global powder coating market size was valued at USD 15.53 billion in 2023 and it is projected to be worth around USD 25.4 billion by 2032, expected to register a growth at a CAGR of around 5.62% during the forecast period 2023 to 2032.
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The Asia Pacific powder coating market size was valued at USD 6.25 billion in 2023 and is expected to reach USD 10.12 billion by 2032, poised to grow at a CAGR of 5.50% from 2023 to 2032.
Globally, Asia Pacific emerged as largest market for powder coating industry in 2022. The optimistic stance towards the construction sector of South Korea, India, China, Japan, Malaysia, Indonesia and Vietnam is proposed to endorse the practice of powder coatings. Besides, promising government guidelines with an objective to create investments public-private collaborations and from FDI is further complementing the growth of the market. Automotive sector in Asia Pacific is projected to advance significantly on account progress in transportation infrastructure, increasing disposable income and shifting lifestyle. The green coatings engineering corporations and research institutions have profoundly capitalized to improve eco-friendly, cutting-edge, and harmless powder coatings.
The U.S. perceives higher powder application in the architectural sector whereas conventionally it’s prominently liquid. China is sighted a huge wave of powder usage in numerous industrial areas like ACE and commercial vehicles. Powder on dissimilar substrates in the place of traditional ones is also a drift that is achieving tractions as the application competence and powder technology progresses.
Underlining need for more sustainable solutions and progress in construction and manufacturing industries is developing new openings for powder coatings sector. Coating formulators and raw material providers are responding with the improvement of novel powder coating technologies that can be manufactured and applied more proficiently, show enhanced performance characteristics, and possess a superior variety of prospective end uses. For the previous numerous years, the powder coatings sector has been, and endures to be, in a phase of growth and revolution during manifold market spaces. The emergence of technologies that address the current issues for manufacturing productivities and cost are driving these needs. One instance is the expansion and development of compact process systems.
Development of global powder coatings market is credited to influences like augmented consumer expenditure, climbing per capita income, fluctuating consumer inclinations plus progression in technology. Greater utilization rate as than liquid forms are amongst the fundamental reasons impacting the complete product application possibility. The infrastructural development is also a crucial factor motivating the product requirement on an international scale. Proficiency and over spray are amongst the vital aspects leading the market economics.
However, current pandemic of COVID-19 has disturbed the production of raw materials employed for coatings and paints manufacturing. Major economies of Asia Pacific such as Japan, India, China, Thailand and Singapore are the centers for paints and coatings manufacturing industry. Present pandemic of COVID-19 in this region severely impacted the affected the supply of these raw materials.
Report Highlights | Details |
Market Size | USD 25.4 Billion by 2032 |
Growth Rate | CAGR of 5.62% from 2023 to 2032 |
Largest Market | Asia Pacific |
Fastest Growing Market | North America |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Segments Covered | Resin Type, Application Type, Region Type |
Companies Mentioned | The major vendors operating in the xxx market are |
Application of powdered enamels is a superior resource-conserving and environmental friendly process in the arena of industrial coating technology. As a result, powder coatings have recognized themselves in the numerous applications in a countless range of industries such as furniture manufacturing, household appliances, architecture, equipment and machinery manufacturing, automotive industry and consumer goods. There is constant growth in the sale of powder coatings with innovative applications being established. Among different application segments assessed in this report, furniture and appliances segment is considered to advance at a stable pace during the prediction period. Furthermore, new application market such as IT and telecom are also expected to offer lucrative growth where uses of powder coatings are broadly explored.
The emergence of powder-on-powder application which involves application of topcoat and primer with one cure step has offered novel prospects for powder coatings. Further, powder coatings have attained more extensive access in new-fangled applications. It is, precisely, lower baking temperatures that have allowed access to innovative substrates such as MDF, wood and plastic. The technology is unveiling new fangled likelihoods and novel markets. This drift is vastly reinforced by enhancements in process control and application equipment that provide a broader range of application sectors such as dry-on-dry systems.
Out of different types of resins, polyester resin type occupied highest revenue share in 2022. This progress is credited to its advantageous characteristics including chemical resistance, quick-drying, quick-drying, temperature resistance, surface protection and abrasion resistance. Rush in demand of product in applications such radiator grills, as door handles, bumpers, wheel rims, metallic structural components and bicycle is expected to bolster growth of the market during next few years.
Growing stipulation to augment the outdoor and indoor air quality taking into account the health effects of VOC’s, moving producers emphasis on plummeting VOC content. Nominal VOC emissions, than liquid paints would deliver robust business prospect for industry participants as they can obey economically and easily with the guidelines of U.S. environmental protection agency.
Certain noteworthy market manufacturers competing in the industry are as follows:
Segments Covered in the Report
This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2019 to 2032. This report contains market breakdown and its revenue estimation by classifying it on the basis of resin type, application and region as follows:
By Resin
By Application
By Regional Outlook
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Powder Coating Market, By Resin
7.1. Powder Coating Market, by Resin Type, 2023-2032
7.1.1. Epoxy-Polyester
7.1.1.1. Market Revenue and Forecast (2020-2032)
7.1.2. Epoxy
7.1.2.1. Market Revenue and Forecast (2020-2032)
7.1.3. Acrylic
7.1.3.1. Market Revenue and Forecast (2020-2032)
7.1.4. Polyurethane
7.1.4.1. Market Revenue and Forecast (2020-2032)
7.1.5. Polyester
7.1.5.1. Market Revenue and Forecast (2020-2032)
7.1.6. Others
7.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 8. Global Powder Coating Market, By Application
8.1. Powder Coating Market, by Application, 2023-2032
8.1.1. Automotive
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Consumer Goods
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Architectural
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Furniture
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Oil and Gas
8.1.5.1. Market Revenue and Forecast (2020-2032)
8.1.6. Pipeline
8.1.6.1. Market Revenue and Forecast (2020-2032)
8.1.7. Others
8.1.7.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Powder Coating Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Resin (2020-2032)
9.1.2. Market Revenue and Forecast, by Application (2020-2032)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Resin (2020-2032)
9.1.3.2. Market Revenue and Forecast, by Application (2020-2032)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Resin (2020-2032)
9.1.4.2. Market Revenue and Forecast, by Application (2020-2032)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Resin (2020-2032)
9.2.2. Market Revenue and Forecast, by Application (2020-2032)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Resin (2020-2032)
9.2.3.2. Market Revenue and Forecast, by Application (2020-2032)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Resin (2020-2032)
9.2.4.2. Market Revenue and Forecast, by Application (2020-2032)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Resin (2020-2032)
9.2.5.2. Market Revenue and Forecast, by Application (2020-2032)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Resin (2020-2032)
9.2.6.2. Market Revenue and Forecast, by Application (2020-2032)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Resin (2020-2032)
9.3.2. Market Revenue and Forecast, by Application (2020-2032)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Resin (2020-2032)
9.3.3.2. Market Revenue and Forecast, by Application (2020-2032)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Resin (2020-2032)
9.3.4.2. Market Revenue and Forecast, by Application (2020-2032)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Resin (2020-2032)
9.3.5.2. Market Revenue and Forecast, by Application (2020-2032)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Resin (2020-2032)
9.3.6.2. Market Revenue and Forecast, by Application (2020-2032)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Resin (2020-2032)
9.4.2. Market Revenue and Forecast, by Application (2020-2032)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Resin (2020-2032)
9.4.3.2. Market Revenue and Forecast, by Application (2020-2032)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Resin (2020-2032)
9.4.4.2. Market Revenue and Forecast, by Application (2020-2032)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Resin (2020-2032)
9.4.5.2. Market Revenue and Forecast, by Application (2020-2032)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Resin (2020-2032)
9.4.6.2. Market Revenue and Forecast, by Application (2020-2032)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Resin (2020-2032)
9.5.2. Market Revenue and Forecast, by Application (2020-2032)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Resin (2020-2032)
9.5.3.2. Market Revenue and Forecast, by Application (2020-2032)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Resin (2020-2032)
9.5.4.2. Market Revenue and Forecast, by Application (2020-2032)
Chapter 10. Company Profiles
10.1. Axalta Coating Systems
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. The Sherwin-Williams Company
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Arkema Group
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Eastman Chemical Company
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. The Valspar Corporation
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. PPG Industries, Inc.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Akzo Nobel NV
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Evonik Industries AG
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Nippon Paint Co., Ltd.
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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