Powder Coatings Market by Resin Type (Thermoset and Thermoplastic), Coating Method ( Electrostatic Spary, Fluidized Bed), End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture), & Region - Global Forecast to 2028

Powder Coatings Market by Resin Type (Thermoset and Thermoplastic), Coating Method ( Electrostatic Spary, Fluidized Bed), End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture), & Region - Global Forecast to 2028

The global powder coating market size is projected to grow from USD 14.7 billion in 2022 to USD 19.9 billion by 2028, at a CAGR of 5.2%, between 2023 and 2028. The powder coatings market is mainly characterized by two main resin types: Thermoset, and thermoplastic. Powder coatings have significant use in appliances, automotive, architectural, and furniture industries. Manyproducers are shifting their manufacturing units to Asia Pacific because of the availability of raw materials, low labor cost, and promising government policies in developing markets such as India, Thailand, and Singapore. The global powder coatings market is being driven by economic growth, rising population, increased per capita income, and urbanization.

Architectural industry is estimated to register one of the highest CAGR during the forecast period

Architectural powder coatings are applied to the interior and exterior walls of all types of residential, commercial, industrial, and institutional buildings. Apart from their decorative features, architectural powder coatings also possess some protective features. Powder coating for architectural application include both interior and exterior coatings. These are applied either by professional painters or do-it-yourself (DIY) consumers.Powder coating market in architectural segment is growing because it provide excellent durability and availability of a variety of finishes and colors.

Europe powder coating market is expected to account for the second largest share in 2022

The powder coating market in the Europe is majorly driven by the appliances, automotive, and architectural industry. Europe has the strict norms related to VOC emissions and this helps in the growth of power coating market in the region. the automotive and general industrial sectors are the major end-users of powder coatings in the region. Additionally, there is growing trend towards using powder coatings is the construction sector due to their durability, corrosion resistance, and low environmental impact.

China powder coatings market is projected to account for largest share in 2022

The powder coatings market in the China is driven by the strong emergence of automotive & EV sectors, growing demand from the appliances industry, infrastructural projects, untapped potential in growing economies, and increasing urbanization. The increasing china population, the growing demand for new houses due to the rising number of nuclear families, and the increasing market for consumer goods and automobiles is also fueling the powder coatings market. The market is still in its development due to current massive development projects in this area.

The break-up of the profile of primary participants in the powder coatings market:

By Company Type: Tier 1 – 39%, Tier 2 – 34%, and Tier 3 – 27%

By Designation: C Level – 30%, D Level – 30%, and Others – 40%

By Region: North America – 20%, Asia Pacific– 40%, Europe – 20%, Middle East & Africa – 10%, and South America – 10%

Prominent companies includes The Sherwin-Williams Company (US), PPG Industries, Inc (US), AkzoNobel N.V. (The Netherlands), Jotun A/s (Norway), Asian Paints Limited (India), Kansai Paint Co., Ltd (Japan), Nippon Paint Holding Co., Ltd (Japan), RPM International, Inc (US), Axalta Coating Systems LLC (US), and others.

Research Coverage:

This research report provide detailed segmentation of powder coatings market by resin type (thermoset, and thermoplastic), by coating methods (electrostatic spray coating, fluidized bed coatings, and others), by end use industry (appliances, automotive, general industrial, architectural, furniture, and others), and region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America). The report covers detailed information about the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the powder coatings market. A thorough analysis of the major industry players has been conducted to provide insights into their business overview, products, finances; key strategies;. new product launches, mergers and acquisitions, and significant changes affecting the powder coatings market. In order to better position their companies and develop effective go to market strategies, stakeholder will benefit from the competitive landscape and gaining additional insight from this report.

The report Provides insights on the following pointers:

Analysis of key drivers (Growth in various end-use industry), restraints (difficulty in obtaining thin films), opportunity (Increasing use of powder coatings in automotive industry), and challenges (environmental challenges).

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the powder coatings market

Market Development: Comprehensive information about lucrative markets – the report analyses the powder coatings market across varied regions

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the powder coatings market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like The Sherwin-Williams Company (US), PPG Industries, Inc (US), AkzoNobel N.V. (The Netherlands), Jotun A/s (Norway), Asian Paints Limited (India), Kansai Paint Co., Ltd (Japan), Nippon Paint Holding Co., Ltd (Japan), RPM International, Inc (US), Axalta Coating Systems LLC (US), and others. The report also helps stakeholders understand the pulse of the automotive market and provides them information on key market drivers, restraints, challenges, and opportunities.