The Powder Coatings Market Size was valued at USD 15.6 billion in 2023 and is expected to reach USD 23.31 billion by 2031 and grow at a CAGR of 5.14% over the forecast period 2024-2031.
Powder coating is a dry finish that has many benefits, such as a high resistance to coating quality loss, which reduces scratches, corrosion, chipping, fading, and other problems caused by wear. Finely ground pigment and resin particles that are charged electrostatically are used to make this powder coating. These particles are then sprayed on the grounded parts. Due to their high resistance to wear and corrosion, powder coatings are being used more and more in the automotive industry and on consumer goods. Powder coatings are very important for protecting metal and non-metal substrates because of these things. Compared to other coatings, powder coatings have many benefits, such as being available right away, having lower operating costs, looking great, releasing almost no VOCs, and having a uniform thickness. Also, it makes the workers less likely to get sick because it is easy to get off of human skin.
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Drivers:
Powder coatings are being used in more and more industries.
Restraints:
Problems with getting thin films
changes in the prices of raw materials
The price of the powder coatings may be high
Opportunity:
Increasing investment in the Car industry
Challenge:
Environmental challenges
The spread of COVID-19 has made it harder to make the raw materials that are used to make paints and coatings. Asian countries like India, China, Japan, Singapore, and Thailand are the main places where paints and coatings are made and where most of the raw materials come from. The new coronavirus outbreak in Asia and the Pacific has made it harder to get these raw materials. China, for example, is one of the biggest suppliers of resins and sends a million tonnes of resins all over the world. Paints and coatings aren't being made as much because there aren't enough raw materials. In April 2020, all private and government buildings and construction sites, as well as businesses that refinish cars, were hit hard. Because the market is closed, retailers are also cancelling large orders of paint and coatings that they had already made. Because of COVID-19, people who use the coatings don't buy expensive coating technologies like polyurea and polyurethanes from distributors and retailers. Overall, the stoppage of construction and building activities makes it harder for distributors to sell paints and coatings.
By Type:
Thermoset
Thermoplastic
By Coating method
Electrostatic spray
Fluidized bed
Others
By End-use Industry:
Appliances
Automotive
General Industrial
Architectural
Furniture
Other
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The powder coatings market is broken down into five major regions: North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa. Due to the fast growth of the automotive and electronics industries in many countries in the APAC region, Asia-Pacific has the largest share of the powder coatings market and offers key players good chances to increase the market's demand. The growth of the market in this region is being helped by the rising sales and production of passenger and commercial vehicles. Governments in developing economies prefer powder coatings for the lightweight body because they have better qualities, like making the car use less gas and putting out less pollution.
Due to rising car production in Germany, Austria, the UK, and Hungary, Europe is likely to have the largest share of the market during the assessment period. The market in this area is also strengthened by the presence of big players like Volkswagen, Chevrolet, and Mercedes-Benz. Because the product's technology is always getting better and the auto industry is growing, North America is expected to have a large market share and a healthy CAGR in the coming years. The Middle East and Africa have the smallest market share because their economies are growing slowly.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Valspar Corporation, Tiger Coatings, AkzoNobel N.V., Sherwin Williams, Jotun, PPG Industries, IFS Coatings, Kansai Nerolac Paints Limitedm, Axalta Coating Systems, BASF SE.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 15.6 Billion |
| Market Size by 2031 | US$ 23.31 Billion |
| CAGR | CAGR of 5.14% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Thermoset, Thermoplastic) • By Coating method (Electrostatic spray, Fluidized bed, Others) • By End-use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture, Other) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | The Valspar Corporation, Tiger Coatings, AkzoNobel N.V., Sherwin Williams, Jotun, PPG Industries, IFS Coatings, Kansai Nerolac Paints Limitedm, Axalta Coating Systems, BASF SE |
| DRIVERS | • Powder coatings are being used in more and more industries. |
| Restraints | • Problems with getting thin films • changes in the prices of raw materials • The price of the powder coatings may be high. |
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: The Valspar Corporation, Tiger Coatings, AkzoNobel N.V., Sherwin Williams, Jotun, PPG Industries, IFS Coatings, Kansai Nerolac Paints Limitedm, Axalta Coating Systems and BASF SE are the major key players of Powder Coatings Market.
Ans: The powder coatings market is broken down into five major regions: North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa.
Ans: Problems with getting thin films, changes in the prices of raw materials and the price of the powder coatings may be high are the restraints for Powder Coatings Market.
Ans: Powder Coatings Market Size was valued at USD 15.6 billion in 2023 and is expected to reach USD 23.31 billion by 2031, and grow at a CAGR of 5.14% over the forecast period 2024-2031.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Powder Coatings Market Segment, by Type:
8.1 Thermoset
8.2 Thermoplastic
9.Powder Coatings Market Segment, by Coating method
9.1 Electrostatic spray
9.2 Fluidized bed
9.3 Others
10.Powder Coatings Market Segment, by End-use Industry:
10.1 Appliances
10.2 Automotive
10.3 General Industrial
10.4 Architectural
10.5 Furniture
10.6 Other
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profile
12.1 The Valspar Corporation
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Tiger Coatings
12.3 AkzoNobel N.V.
12.4 Sherwin Williams
12.5 Jotun
12.6 PPG Industries
12.7 IFS Coatings
12.8 Kansai Nerolac Paints Limited
12.9 Axalta Coating Systems
12.11 BASF SE
13.Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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