Global Powder and Liquid Coatings Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Powder and Liquid Coatings Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Powder coating is a type of coating that is applied as a free-flowing, dry powder. Liquid coatings are organic-based materials comprising resins with combinations of solvent and water-based carriers to ensure good control of applied weight together with satisfactory wetting, adhesion and curing properties. The main difference between a conventional liquid paint and a powder coating is that the powder coating does not require a solvent to keep the binder and filler parts in a liquid suspension form.

Market Overview:

The latest research study on the global Powder and Liquid Coatings market finds that the global Powder and Liquid Coatings market reached a value of USD 178866.04 million in 2023. It’s expected that the market will achieve USD 230416.15 million by 2029, exhibiting a CAGR of 4.31% during the forecast period.

Drivers

1.Infrastructure Development: The demand for coatings in the context of infrastructure development has gained even more momentum in recent years, as major economies worldwide embark on ambitious infrastructure investment and construction projects.
2.Recovery of automobile manufacturing industry
3.Industrial and Manufacturing: The industrial and manufacturing sectors represent another crucial driver of coatings demand due to their diverse range of applications

Restraints and Challenges

1.Environmental regulations, particularly those targeting volatile organic compounds (VOCs), represent a significant challenge for the coatings industry.
2.Rising Energy Costs: The coatings manufacturing industry's susceptibility to rising energy costs became particularly pronounced in 2021 as global energy prices surged.

Opportunities

1.Advances in innovation and technology have significantly transformed the landscape of both powder and liquid coatings, ushering in a new era of performance, sustainability, and versatility.
2.In recent years, the global coatings market has experienced a consistent growth trend, primarily driven by sustained development in traditional industries like construction and automobiles. This increased demand for coatings has been particularly evident in emerging markets, with India standing out as a key player in the Asian region.

Region Overview:

Southeast Asia had the highest growth rate of all regions in 2022.

In 2022, the share of the Powder and Liquid Coatings market in China stood at 26.80%.

Company Overview:

PPG Industries is one of the major players operating in the Powder and Liquid Coatings market, holding a share of 10.14% in 2023.

PPG Industries, Sherwin-Williams, Akzonobel, Nippon Paint and RPM International are the five key players in the global Powder and Liquid Coatings market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Powder and Liquid Coatings market in the past 5 years.

Segmentation Overview:

The Powder segment by type showed a value growth of 11.96% in 2022.

Among different product types, Liquid segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Outdoor segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Powder and Liquid Coatings market covered in Chapter 3:

Sika
Jotun
RPM International
Kansai Paint
Behr Paint Company
Sherwin-Williams
PPG Industries
TIGER Coatings
Asian Paints
Axalta Coating Systems
Hempel
BASF Coatings
Akzonobel
Skshu Paint
Oriental Yuhong
Nippon Paint

In Chapter 4 and Chapter 14.2, on the basis of types, the Powder and Liquid Coatings market from 2019 to 2030 is primarily split into:

Powder
Liquid

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Powder and Liquid Coatings market from 2019 to 2030 covers:

Indoor
Outdoor

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)