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Powder Coatings Market Trends

Report ID: GMI379
Published Date: Jul 2024
Report Format: PDF

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Powder Coatings Market Trends

The introduction of low temperature curing powders is enabling the adoption of thermal coatings, subsequently expanding the market reach for materials, such as plastic composites. The development of high-strength powders and polyester resins is enhancing the performance and durability of coatings in harsh environments, making them ideal for automotive and construction applications. Developments in color matching technology and the wide range of finishes and textures are meeting the aesthetic demands of various industries, driving the market growth. For instance, in May 2024, Solera collaborated with Axalta to integrate its refinished paint systems into the former’s Sustainable Estimatics platform. This allowed Axalta customers to analyze CO2 emissions per repair, considering repair methods, paint application process, and drying conditions.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size for powder coatings was valued at over USD 15.2 billion in 2023 and is expected to record over USD 26.3 billion by the end of 2032, driven by the rapid technological advancements and increasing demand from various end-use industries.

The thermoset segment of the powder coatings market will generate over USD 24.6 billion by 2032, due to its superior chemical and physical properties, which help meet the high-performance demands of several industries.

Asia Pacific powder coating industry recorded over USD 9.1 billion in 2023 and is likely to generate over USD 16.3 billion by the end of 2032, attributed to rapid industrialization and urbanization.

BASF, Axalta Coating System, Nippon Paint Co. Ltd, PPG Industries, Dupont Coating & Color Technologies Groupss, RPM International, The Valspar Corporation, Protech Oxyplast Powder Coating, The Sherwin-Williams Company, and Dulux Powder & Industrial Coating among others.