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.
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.
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summary: Powder Coatings Market Report
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 Report
Scope
|
Report Attribute |
Details |
|
Market
size value in 2024 |
USD
10,927.9 million |
|
Revenue
forecast in 2030 |
USD 15.34
billion |
|
Growth
rate |
CAGR of
5.8% from 2024 to 2030 |
|
Base year
for estimation |
2023 |
|
Historical data |
2018 - 2022 |
|
Forecast period |
2024 - 2030 |
Related
Press Release@ Powder Coatings Industry Analysis
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
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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