The report “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 – Global Forecast to 2029″, is projected to reach a market size of USD 20.2 billion by 2029 from USD 15.4 billion in 2024, at a CAGR of 5.5%. Asia pacific is the one of the largest markets for powder coatings. The demand for powder coating is increasing in the sectors such as appliances, architectural, furniture, general industrial, automotive. The demand from emerging nations, such as China, India, Mexico, Indonesia, and Brazil are expected to drive the global powder coating market.
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• 556 Market data Tables
• 65 Figures
• 416 Pages and in-depth TOC on “Powder Coatings Market – Global Forecast to 2029″
Some of the prominent key players are:
- Akzo Nobel N.V. (Netherlands),
- PPG Industries (US),
- Sherwin-Williams (US),
- Axalta Coating Systems, LLC (US),
- Nippon Paint (Japan), and many more….
Driver: Expansion across diverse industries driving market demand
Powder coatings find extensive applications across automotive, appliances, furniture, architectural, and general industrial sectors, alongside emerging areas such as oil & gas, pipes, fittings, wastewater treatment, valves, and tanks. With ongoing innovations, including the adoption of powder coatings on wood and plastics, the market continues to witness an upward trend in demand. The environmental benefits associated with powder coatings prompt the transition from liquid coatings to powder alternatives. Key players in powder coating technology are capitalizing on the growing potential in plastic applications across automotive, appliances, and other sectors.
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Architectural sector, by application segment, holds the second largest share in the overall polyethyleneimine market during the forecast period.
Architectural coatings cover a range of decorative and practical products like paints, stains, lacquers, primers, and cleaners. In the realm of powder coatings, these applications extend to both interior and exterior coatings, commonly used in homes and commercial buildings. They’re applied by professionals and DIY enthusiasts to coat aluminum and steel surfaces for various interior and exterior purposes. The rising use of powder coatings in architecture is driven by their strong durability and the availability of a wide range of finishes and colors.
Asia Pacific region is likely to be the fastest growing powder coating market during the forecast period.
The powder coating market experiences substantial growth in the Asia Pacific region, notably in China, India, and various Southeast Asian countries. This growth is fueled by heightened demand resulting from increasing disposable incomes, particularly in regions such as Indonesia and Brazil, leading to greater consumer product, automobile, and furniture demands.
Factors such as significant population expansions further bolster the expansion of the powder coating market. Additionally, the relocation of manufacturing units from North America and Europe to the Asia Pacific, driven by favorable manufacturing conditions and lower raw material and labor costs, serves as a significant driver for the market’s growth in this region.