Powder Coatings Market Size To Reach $15.34 Billion By 2030

Powder Coatings Market Growth & Trends

The global powder coatings market size is anticipated to reach USD 15.34 billion by 2030 and is anticipated to expand at a CAGR of 5.8% during the forecast period, according to a new report by Grand View Research, Inc. The growth is attributed to their extensive use in diversified industries such as appliances, automotive, infrastructure, and general industrial, among others.

Coatings are used in various end user industries, such as chemicals, architecture, automobiles, and others. Architectural coatings play a critical role in safeguarding and enhancing the surfaces of residential and commercial buildings. These products are specifically formulated to provide a wide array of benefits, including protection against weathering, UV radiation, and the growth of mildew. Within the architectural coatings segment, a diverse range of products, such as paints, varnishes, stains, and sealants, serve various purposes in the construction and maintenance of buildings.

Rising global demand for automobiles is a major driver for the powder coatings industry. Traditionally, powder has been used to coat only certain parts of automobiles, such as chassis and engine parts. However, some key players in the automobile industry are coating other parts, such as wheels, radiators, bumpers, shock absorbers, engine blocks, coil springs, and mirror frames. Thus, the demand for powder coating is increasing in the automobile industry. Inside the vehicle, they are employed on interior trim components like door handles, instrument panels, and dashboard accents, ensuring an appealing and durable finish. Powder coatings also find application on heat shields in the engine bay and exhaust system, offering protection from excessive heat for surrounding components.

The application of powder coating is difficult on sharp edges and inside corners. During curing, the liquid film tries to pull away from the edges of the surfaces, forming a thicker layer just before the edge and distortion of uniformity. This phenomenon may occur due to resins having low viscosity. In addition, applying thin films around these areas may impair the leveling and film flow. However, solvent coatings such as paints are used as substitutes to coat the substrates, whereas powdered ones cannot be applied to cover edges. This is expected to limit the growth of the market over the forecast period.

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Powder Coatings Market Report Highlights

• Epoxy-polyester (Hybrid) is anticipated to witness the fastest CAGR of more than 6.5% over the forecast period, owing to its widespread usage in the automotive industry to coat various components such as wheels, bumpers, and engine parts.

• Automotive is anticipated to witness the fastest CAGR of approximately 6.4% over the forecast period due to the increasing scale of automotive manufacturing around the world, which has resulted in a growth in consumption levels in the sector.

• The Asia Pacific region is anticipated to witness the fastest CAGR of 6.6% over the forecast period due to rapid industrialization and urbanization in countries like China, India, and Southeast Asia.

• Powder coatings have many advantages, such as low VOC emission levels, reduced health hazards, and minimum wastage, and therefore, they find application in numerous industries.

Powder Coatings Market Segmentation

Grand View Research has segmented the global powder coatings market based on resin, application, and region:

Powder Coatings Resin Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Epoxy

• Polyester

• Epoxy-Polyester (Hybrid)

• Acrylic

• Polyurethane

• Others

Powder Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Consumer Goods

• Architectural

• Automotive

• General Industries

• Furniture

• Others

Powder Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Russia

  • Benelux

  • Turkey

  • Switzerland

  • Sweden

  • Poland

  • Austria

  • Norway

  • Denmark

  • Finland

  • Portugal

  • Czech Republic

  • Slovenia

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Thailand

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Powder Coatings Market

• Akzo Nobel N.V.

• The Sherwin-Williams Company

• PPG Industries, Inc.

• BASF SE

• Arkema

• JOTUN

• Nippon Paint Holdings Co., Ltd.

• RPM International, Inc.