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Powder Coatings Market: By Resin Type, By Coating Method, By Application, General Industrial and Others) and Geography
Powder Coatings Market: By Resin Type, By Coating Method, By Application, General Industrial and Others) and Geography
Powder Coatings Market size was valued at US$ 14,362.1 million in 2023 and is expected to grow at a CAGR of 7.4% from 2024 to 2030. The global market provides a detailed overview of the global powder coatings market, and that can be segmented by resin type, coating method, and by application. By resin type, the global powder coatings market has been segmented into Thermoplastic and Thermoset. The Thermoset segment is likely to be the largest and fastest-growing segment in terms of type in 2021 and is expected to maintain the trend in the forecasted years. Thermoset powder is made of different resins such as epoxies, polyesters, acrylics, and polyurethanes. Due to various other properties of thermoset powder, this segment is growing at a faster rate. Most thermoset powder coatings is able to safeguard from a high level of corrosion, impact, and temperature resistance.
Based on the coating method, the global powder coatings market is segmented into Electrostatic Spray and Fluidized Bed. Among these, the Electrostatic Spray segment is expected to have the fastest-growing market during the forecast period 2023-2029 according to precision business insights. The Appliances segment accounts for the largest share in 2022 and is anticipated to register a significant CAGR in the upcoming years. It is attributed to the various usage of powder coatings on refrigerators, dryer drums, air-conditioner cabinets, washer tops and lids, water heaters, dishwasher racks, freezer cabinets, and microwave ovens. For some applications, the pre-coated blank stock is coated and then postformed in the desired shape. Hence, this segment will grow at a faster rate in the upcoming years.By region, the Asia Pacific region is expected to witness the highest market share during the forecast period it holds a tremendous potential market for global powder coatings.
Study Period
2024-2030Base Year
2023CAGR
7.4%Largest Market
Asia PacificFastest Growing Market
North America
Growing applications in the automotive industry and high demand for coated appliances are anticipated to propel the market growth over the forecast years.
Asia Pacific accounted for larger revenue share in global powder coatings market with considerable CAGR due to changing lifestyle, growth in transportation infrastructure and rising disposable income. Also, China is the major contributor for the market growth in this region as there is an increase in demand for electric home appliances in the country. In addition, North America held considerable market share during estimated period owing to increasing environmental concerns and rising awareness regarding the harmful effects of solvent-based coatings.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 14,362.1 million |
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Market CAGR |
7.4% |
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By Resin Type |
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By Coating Method |
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By Application |
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The global powder coatings market size was valued at US$ 14,362.1 million in 2023 and is projected to grow at a CAGR of 7.4% from 2024 to 2030.
AkzoNobel N.V. (Netherlands), Asian Paints Limited (India), Axalta Coating Systems (US), Berger Paints India Limited (India), Jotun A/S (Norway)
North America is the fastest-growing region for powder coatings market
The powder coatings market faces many environmental challenges due to state and local environmental regulations of wastewater discharge.
Table of Content
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.