Dublin, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The "Powder Coatings Market by Coating Method (Electrostatic Spray, Fluidized Bed), Resin Type (Thermoset, Thermoplastic), End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture) and Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The powder coating market size is projected to reach USD 20.2 billion by 2029 at a CAGR of 5.5% from USD 15.4 billion in 2024. Asia pacific is estimated to account for the largest share in terms of value of the powder coating market in 2024.
As a popular finishing technique, Powder coating finds extensive use in sectors such as automotive, architectural, furniture and general industrial. Its ability to provide high-quality finish resistant to chipping, scratching, and fading, fuels its demand globally. Additionally, increasing research and development activities focused on exploring new applications and improving product characteristics further propel the growth of the powder coating market. 
Appliances is projected to be the fastest growing application segment of powder coating market.
In the appliances sector, thermosetting powder coatings are prominently utilized to coat various products such as refrigerators, washing machines, and dryers. These coatings offer a superior finish that is highly resistant to chipping, scratching, and fading, rendering them well-suited for household appliance applications.
Notably, thermosetting powder coatings are environmentally friendly, devoid of volatile organic compounds (VOCs), and generate minimal waste. They boast ease of application and rapid curing times, thereby enhancing manufacturing productivity.
The global appliances market is witnessing growth propelled by technological advancements, expansion in sectors, rapid urbanization, increasing per capita income, elevated living standards, shifts in consumer lifestyles, and a rising number of smaller households. Consumers exhibit a preference for eco-friendly and energy-efficient appliances, further stimulating the demand for powder coatings in this sector. North America's appliance market is mature and has significant product penetration. The industry is dominated by substitute goods and consumers making discretionary investments to improve their current homes. In South America Brazil is the region's largest appliance market, dominated by a few significant manufacturers. Built-in products and air conditioners continue to have modest market penetration, but are increasing.
Europe is likely to account for the second largest share of powder coating market in terms of value.
Europe emerges as the second-largest market for powder coatings, driven by substantial investments in transportation and broadband infrastructure. Notably, developments in rail and road services, coupled with government and private sector-funded infrastructure projects, have bolstered industrial growth in the region.
Western Europe is a fragmented market with diverse consumer needs across countries and multiple producers, brands, and retailers. Overcapacity and price pressures have prompted industrial consolidation to attain economies of scale. Consumers are gaining more power and access to information online, making this an essential industry development. Direct-to-consumer sales are also growing significantly. Although Eastern Europe has lower penetration rates than Western Europe, there is a growing market for substitute items. Western producers dominate the market.
The heightened demand for powder coatings in these applications has prompted significant increases, with key vendors strategically expanding their presence within the region to capture a larger market share.
This report provides insights on the following:
- Analysis of key drivers (Application growth in appliances, automotive, general industrial) restraints (Difficulty in obtaining thin films), opportunities (Increasing use of powder coating in automotive industry), and challenges (Growing environmental challenges) influencing the growth of the powder coating market.
- Product Development/Innovation: Detailed insight into research & development activities, and new product launches in the powder coating market.
- Market Development: Comprehensive information about markets - the report analyses the powder coating market across varied regions.
- Market Diversification: Exclusive information about the new products & services untapped geographies, recent developments, and investments in the powder coating market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like PPG Industries, Sherwin-Williams, Akzonobel N.V., Axalta Coating Systems, Kansai Paint Limited in the Powder Coating market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 417 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $15.4 Billion |
| Forecasted Market Value (USD) by 2029 | $20.2 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Powder Coatings Market Snapshot (2023 vs. 2029)
- Thermoset Segment to Dominate Market During Forecast Period
- Appliances to be Largest Segment During Forecast Period
- Asia-Pacific to Dominate Powder Coatings Market During Forecast Period
Premium Insights
- Attractive Opportunities for Players in Powder Coatings Market - Emerging Economies to Offer Lucrative Growth Potential for Market Players
- Powder Coatings Market, by Resin Type - Thermoset Segment to Witness Higher Growth During Forecast Period
- Asia-Pacific: Powder Coatings Market, by End-use Industry and Country - China Accounted for Largest Market Share in 2023
- Powder Coatings Market: Developed vs. Developing Economies - Demand for Powder Coatings to Grow Faster in Developing Countries
- Powder Coatings Market, by Country - India to Witness Highest Growth During Forecast Period
Market Dynamics
Drivers
- Eco-Friendly Properties and Reduced Carbon Footprints
- Surge in Demand for Automotive Parts and Components
- Integration of AI Technology
- Growing Preference for Sustainable Coatings
Restraints
- Difficulty in Achieving Thin Films
Opportunities
- Customization and Personalization
- Applications in Shipbuilding and Pipeline Industries
- Growing Demand for High-Performance Fluorine Resin-based Coatings
- Development of New Application Processes
Challenges
- Growing Environmental Challenges
Case Study Analysis
- Case Study 1: PPG Partnered with Las Vegas Raiders
- Case Study 2: Decoral Conducts 5-Year Long Test, Meets Q-Lab Standards
- Case Study 3: Design and Construction of Modern Decorative Paint Manufacturing Facility
Companies Profiled
- PPG Industries, Inc.
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- Axalta Coating Systems, LLC
- Kansai Paint Co. Ltd.
- RPM International Inc.
- Jotun
- Asian Paints
- Nippon Paint Holdings Co. Ltd.
- Protech Group
- TIGER Coatings GmbH & Co. KG
- Anhui Meijia New Material Co. Ltd.
- Berger Paints India Limited
- Powdertech Surface Science
- Somar Corporation
- Cloverdale Paint Inc.
- FreiLacke
- Diamond Vogel
- IFS Coatings
- 3M
- Erie Powder Coatings
- Keyland Polymer
- Primatek Coatings Ou
- Cardinal
- Modern Sak Factory for Powder Paint
- Hentzen Coatings, Inc.
- Vitracoat
- WEG
- Europolveri Spa
- Pulverit S.P.A.
- ST Powder Coatings S.P.A.
- IBA Kimya A.S.
- Neokem
- Teknos Group
- KCC Corporation
- CWS Powder Coatings GmbH
- Pulver Inc.
For more information about this report visit https://www.researchandmarkets.com/r/t4vpou
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
