Powder Coatings Market Growth to Reach $15.20 Bn in 2024 to $24.26 Bn by 2032 | Asia Pacific Leads with 61.65% Share

Key companies covered in powder coatings market report are Akzo Nobel N.V., PPG Industries, Inc., BASF SE, Jotun, TCI Powder, Asian Paints and others.

WA, UNITED STATES, March 6, 2025 /EINPresswire.com/ -- The global powder coatings market size was USD 14.29 billion in 2023 and is projected to grow from USD 15.20 billion in 2024 to USD 24.26 billion in 2032 at a CAGR of 6.0% during the forecast period (2024-2032). Asia Pacific dominated the powder coatings market with a market share of 61.65% in 2023. The increasing demand for industrial equipment & machineries in the automotive, infrastructure and construction industry will have an excellent impact on the market growth, states Fortune Business Insights, in a report, titled “Powder Coatings Market, 2024-2032.”

The global powder coatings market has witnessed significant growth over the past decade, driven by increasing demand across various industries, advancements in coating technologies, and a growing emphasis on environmentally friendly solutions. Powder coatings, a dry finishing process, have become a preferred choice for manufacturers and consumers alike due to their durability, efficiency, and eco-friendly properties. This article explores the current state of the powder coatings market, key trends, and future opportunities.

𝐆𝐞𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐃𝐅: https://www.fortunebusinessinsights.com/enquiry/sample/powder-coatings-market-102139

➡️ Report Scope:

Market Size Value in 2024: $ 15.20 Bn
Market Size Value in 2032: $ 24.26 Bn
Growth Rate: CAGR of 6.0% (2024-2032)
Base Year: 2023
Historical Data: 2019-2022
Years Considered for the Study: 2019-2032
No. of Report Pages: 250

➡️Market Segments:

Based on the resin, the market is divided into Thermoset and Thermoplastic.
On the basis of coating method, the market is divided into electrostatic spray, fluidized bed, and others.
Based on the application, the market is classified into agriculture, appliance, architectural, automotive, furniture, agriculture, construction and earthmoving equipment (ACE), general industries, and others. The appliance segment is expected to account for the highest powder coatings market share. These coatings are mostly used in floor cleaners, microwave ovens, freezer liners, dryer drums, racks & cabinets, dishwasher doors & racks, mixers & blenders, etc.
Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

➡️What does the Report Include?

The report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected period. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. The report also provides comprehensive insights into key strategies adopted by market players such as mergers and acquisitions, partnerships, and product launches to sustain their market foothold over the projected timeframe.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐒𝐮𝐦𝐦𝐚𝐫𝐲 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂: https://www.fortunebusinessinsights.com/powder-coatings-market-102139

➡️Driving factor:

Surging Demand for Eco-friendly Coatings to Boost Market
Manufacturers' increasing awareness of pollution prevention is promoting the manufacturing of these coatings. Manufacturers are often required to get licenses and adhere to stringent environmental laws regarding the quantity of solvent and VOCs released into the atmosphere. Manufacturers that violate the rule regulating VOC content are subject to penalties and fines. These coatings provide an option that reduces air pollution management while still adhering to standards and constraints. These coatings are made without using petroleum solvents and so do not emit VOCs that are detrimental to the environment. The decrease in the usage of volatile organic compounds (VOCs) will drive the powder coatings market growth.

➡️The Report Lists the Key Players in the Market:

• Akzo Nobel N.V. (Amsterdam, Netherlands)
• PPG Industries, Inc. (Pennsylvania, U.S.)
• BASF SE (Ludwigshafen, Germany)
• Jotun (Sandefjord, Norway)
• Axalta Coating Systems, LLC (Philadelphia, U.S.)
• The Sherwin-Williams Company (Cleveland, U.S.)
• Asian Paints (Mumbai, India)
• Kansai Nerolac Paints Limited (Mumbai, India)
• TCI Powder (Americus, U.S.)
• Berger Paints India Limited (West Bengal, India)

➡️Emerging Trends

• Development of Bio-Based Powder Coatings
Manufacturers are investing in the development of bio-based powder coatings derived from renewable resources. These coatings offer the same performance as traditional powder coatings while further reducing environmental impact.
• Advancements in Technology
Innovations such as low-temperature cure powders, anti-microbial coatings, and enhanced color-matching technologies are expanding the applications of powder coatings.
• Customization and Aesthetic Appeal
The demand for customized finishes, including metallic, textured, and matte effects, is growing. Powder coatings are increasingly being used to enhance the visual appeal of products.
• Expansion in Electric Vehicle (EV) Market
The rise of electric vehicles presents a significant opportunity for the powder coatings market. EVs require lightweight, durable, and corrosion-resistant coatings, making powder coatings an ideal choice.

➡️Regional Insights:

Infrastructure Development to Push Growth in Asia Pacific
The market in Asia Pacific stood at USD 6.89 billion in 2020. The growth is attributed to the rising demand from end-use sectors such as appliance, automotive, architectural, furniture, agricultural, agriculture, construction and earthmoving equipment, and general industries. Because of increased government investments in infrastructure development projects, the infrastructure and construction business is expected to boom in India and China. Powder coating is gaining popularity in the building business because to its eco-friendly nature and aesthetic appeal. Europe is expected to develop rapidly due to the high demand from the automotive industry.

➡️Competitive Landscape:

Prominent Companies Focus on Well-Established Supply Chain Networks to Consolidate Position
Global enterprises and localized firms with well-established supply chain networks and a thorough understanding of their market's laws and suppliers are battling it out. There are a few large enterprises in the market and several worldwide and regional small and medium-sized organizations. Mergers and acquisitions are being pursued, infrastructure is being built, manufacturing facilities are being expanded, research and development is being invested in, and vertical integration opportunities are being sought across the value chain.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.fortunebusinessinsights.com/enquiry/queries/powder-coatings-market-102139

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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
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