Powder Coatings Market by Resin (Thermoset and Thermoplastic) By Coating Method (Electrostatic Spray, Fluidized Bed, Flame Spraying and others); By Substrate (Metallic and Non-metallic); By End User (Appliances, Automotive, General Industrial, Architectural, Furniture and others) and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030
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Product Overview
Powder coating is a process of applying dry powder or color to a metal surface. Unlike traditional liquid paint, it requires a solvent for the filler and binder parts to form in a suspending liquid. There are three types of powder coating- thermoplastic, thermosets, and UV curable powder coatings. They are available in an almost various range of textures and colors and used as decorative and protective finishes. It is more durable and provides and high-quality finish allowing for maximized production. Powder coatings find their application in the manufacturing and customization of car parts to household appliances.
Market Highlights
Global Powder Coatings market is expected to project a notable CAGR of 6.64% in 2030.
Global Powder Coatings Market to surpass USD 21.29 billion by 2030 from USD 11.17 billion in 2020 at a CAGR of 6.64% throughout the forecast period, i.e., 2021-30. The demand for Powder coatings is expected to accelerate due to rising per capita income, increasing consumer spending leading to increased demand for consumer products, automobiles, and furniture. Furthermore, powder coatings offer numerous advantages over other coatings including less VOC emission, lower operating cost, excellent appearance, and uniform thickness. A rise in the manufacturing of automobiles and a surge in demand for medical devices is estimated to be a major factor leading to the growth of the market in coming years.
Recent Highlights in Global Powder Coatings Market
In OCTOBER 2020, Axalta acquired a manufacturing site in Çerkezköy, Turkey, for its powder coating business.
In JULY 2019, AkzoNobel announced plans to add three new production lines at its Changzhou powder coatings plant in China – the company’s largest facility of its kind in the world
Global Powder Coatings Market: Segments
Thermoset segment to grow with the highest CAGR during 2021-30
Global Powder Coatings market is segmented by Resin into Thermoset and Thermoplastic. Thermoset segment held the largest market share in the year 2020 and will continue to dominate the market throughout the forecast period. Thermoset powder coatings comprise epoxy, polyester, polyurethane, acrylic, and epoxy-polyester hybrid. This type of resin is extensively used in the automotive and appliances industries owing to its temperature-resistant properties.
Appliances segment to grow with the highest CAGR during 2021-30
Global Powder Coatings market is bifurcated by the end-user into Appliances, Automotive, General Industrial, Architectural, Furniture, and others. The appliances segment held the largest market share in the year 2020 and will continue to dominate the market throughout the forecast period. The appliance segment is growing on account of two-fold benefits of being both aesthetically attractive as well as resistant to corrosion and abrasion. The appliances industry uses powder coatings for appliances such as refrigerators, vending machines, water heaters, air conditioners, and dryers. Technological advancement in the appliances market is expected to drive the market for powder coatings.
Market Dynamics
Drivers
Increasing demand for Powder Coatings in the Automotive industry
Powder coatings have a wide range of applications in the automotive industry including coating automotive engines, wipers, filters, wheels, chassis, shock absorbers, and other vehicle parts. Today, powder coating is commonly used in both the manufacture and customization of car parts owing to its exceptional corrosion-free and durability properties.
Shorter Curing and Drying Process
Powder coatings involve much shorter curing, drying, and processing time compared to other liquid coatings due to which the demand for powder coatings is mounting. It is generally cured on an average in ten minutes. Besides, powder coatings require less air and air exchanges within the curing oven and spray booth. As powder coatings do not have solvents or VOCs the heated air can be recycled thereby saving overall cost for the curing and drying process.
Restraint
Difficulty in Producing Thin Films
It is difficult to produce thin finishes using powder coatings. They produce a thick finish on metal products which results in the formation of uneven texture. It is challenging to control the speed and amount of powder applied to the substrate which is expected to hamper the powder coatings market.
Global Market: Key Players
Akzo Nobel NV
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.
Arkema Group
Axalta Coating Systems
Eastman Chemical Company
Evonik Industries AG
Nippon Paint Co., Ltd.
PPG Industries, Inc.
The Sherwin-Williams Company
The Valspar Corporation
Jotun A/S
Other Prominent Players
Global Powder Coatings Market: Regions
Global Powder Coatings market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.
Global Powder Coatings markets market in Asia Pacific held the largest market share in the year 2020. Asia Pacific will continue to dominate the Global Powder Coatings market owing to the growing automotive sector in this region. Besides, rapid urbanization and industrialization as well as infrastructural development is projected to bolster the global powder coatings market
Global Powder Coatings market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Powder Coatings market report also contains analysis on:
Powder Coatings Market Segments:
By Resin
Thermoset
Thermoplastic
Others
By Method
Electrostatic Spray
Fluidized Bed
Flame Spraying
Others
By Substrate
Metallic
Non-metallic
By End-User
Appliances
Automotive
General Industrial,
Architectural
Furniture
Others
Powder Coatings Market Dynamics
Powder Coatings Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Contents
1. Executive Summary
2. Global Powder Coatings Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Global Powder Coatings Market Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Global Powder Coatings Market
11.1. Market Size & forecast, 2019A-2030F
11.1.1. By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12. Global Powder Coatings Market: Market Segmentation
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.2. By Resin: Market Share (2019-2030F)
12.2.1. Thermoset, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-20
12.2.2. Thermoplastic, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3. By Coating Method: Market Share (2019-2030F)
12.3.1. Electrostatic Spray, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.2. Fluidized Bed, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.3. Flame Spraying, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.3.4. Others, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4. By Substrate: Market Share (2019-2030F)
12.4.1. Metallic, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.4.2. Non-metallic, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5. By End User: Market Share (2019-2030F)
12.5.1. Appliances, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.2. Automotive, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.3. General Industrial, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.4. Architectural, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.5. Furniture, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
12.5.6. Others, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F
13 Company Profile
13.1. Akzo Nobel NV
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. Arkema Group
13.3. Axalta Coating Systems
13.4. Eastman Chemical Company
13.5. Evonik Industries AG
13.6. Nippon Paint Co., Ltd.
13.7. PPG Industries, Inc.
13.8. The Sherwin-Williams Company
13.9. The Valspar Corporation
13.10. Jotun A/S
13.11. Other Prominent Players
14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
Research Methodology:
Powder Coatings Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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