Market Overview

The powder coatings market is expected to witness a CAGR of around 6% during the forecast period. Major factors driving the market studied are strict regulation against VOC emissions and favorable government initiatives promoting the usage of powder coatings. On the flip side, increasing raw material costs is expected to hinder the growth of the studied market.

  • The polyester segment dominated the global market share, owing to its good weathering resistance and making it suitable for exterior applications in various industries.
  • The growing investments in the infrastructure and construction industry in emerging economies in the Asia-Pacific region are likely to provide opportunities for the studied market during the forecast period.
  • Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China, South Korea, and India.



Key Market Trends

Industrial Segment to Witness Strongest Growth among End-user Industries

  • Industrial demand for powder coatings stands to be the highest among all the end-user industries. Besides, the segment is also expected to witness the highest growth during the forecast period, due to the extensive industrial application of powder coatings.
  • The appliance industry makes up the largest portion of the powder coating market, accounting for more than two-fifths of all industrial powder coated parts.
  • Powder coating is popular within this segment due to its two-fold benefit of being both aesthetically pleasing, as well as resistant to abrasion and corrosion.
  • Some of the more common appliance applications of powder coatings include microwaves and refrigerators, vending machines, and washers and dryers.
  • With the growing income levels, and innovation leading to technological advancement across the world, the demand for such products has been increasing. This is leading to increase in the production of such appliance, which is further creating demand for the powder coatings from the appliance industry.



Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the global market share, owing to the growing income levels, and increasing migration in search of jobs is driving the construction activities and demand for industrial goods. This, in turn, is driving the demand for powder coatings market in the region.
  • Growth in construction industry in the countries, such as India, Indonesia, Malaysia, and Thailand are fueled by the growing service industry in the region, leading to an increase in migration, growing population, and shortage of residential houses in the region.
  • Moreover, rising income levels and growth in migration for jobs have also created a market for industrial goods, such as fridge, air conditioners, and washing machines.
  • Hence, with such robust demand and growth of above-mentioned end-user industries, the demand for powder coatings from such industries has been increasing in the region simultaneously.



Competitive Landscape

The powder coatings market is a fragmented market, with numerous players holding a small share of market demand. Some of these major players include Akzo Nobel NV, BASF SE, Sherwin Williams, PPG Industries, Lonza Group Ltd, and Royal DSM among others.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • Report customization as per the client’s requirements
  • 3 months of analyst support