| Source: Precedence Research
Ottawa, April 14, 2025 (GLOBE NEWSWIRE) — The global powder coatings market size was valued at USD 17.25 billion in 2024 and is expected to hit around USD 30.46 billion by 2034, growing at a compound annual growth rate (CAGR) of 5.85% from 2024 to 2034. In 2024 Asia Pacific held a dominant market position, capturing more than a 39.85% share and holds a USD 6.87 Billion market value for the year, a study published by Towards chem and Materials a sister firm of Precedence Research.
The market is witnessing significant growth due to rapid shift towards industrialization and urbanization in many regions. This has led to an increased demand of powder coating in the sectors such as automotive, construction, appliances, and furniture.
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Powder Coating Market: Growing Demand & Sustainable Alternatives to Boost the Market
Powder coating is a dry finishing process used to apply a protective and decorative layer to both metallic and non-metallic products. It has emerged as high-performing segment within the furniture industry, recognized for its durability, eco-friendly properties, and cost-effective application; due to these advantages, powder coating in increasingly being adopted across various industries. Key sectors such as automotive, appliances and furniture are significantly contributing to market expansion, driver by growing demand for high-performance surface finishing solutions.
Furthermore, technological advancements in powder coating processes combined with stringent environmental regulations limiting the use of solvent-based coatings are accelerating the shift towards sustainable alternatives. Its low volatile organic compound content makes it a suitable and safer alternative to traditional solvent-based paints, aligning with global efforts to promote eco-friendliness. Government initiatives aimed at fostering green manufacturing, reducing carbon emission, and supporting technologies have positioned powder coating as a key contributor to environmental goals.
Key Takeaways
Major Applications of Powder Coatings:
The rising pace of industrialization and urbanization in many areas has further increased the demand for powder coating across multiple industries. Powder coating delivers exceptional resistance to corrosion, chemicals, UV rays, and mechanical wear, these are increasing chances of adaptation towards convectional coating more. The key factors driving the market growth is High material utilization, minimal waste, and recyclability of overspray make powder coating an economically favourable solution.
Major Key Trends in Powder Coatings Market
Limitations & Challenges in Powder Coatings Market
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Development of Powder Coatings Market: Redefining the Technologies
Companies are shifting from solvent-based coatings to powder-based solutions due to stricter environmental regulations and to promote eco-conscious innovations. The market is driven by increasing demand for environmentally friendly coatings, regulatory push towards reducing Volatile organic compound, and continuous innovations in technology formulations and applications.
Advancements such as low-temperature curing-powders, UV curable powder coatings, and hybrid technologies are widening the scope of applications. Additionally, industries such as automotive, appliances, construction, and general industrial manufacturing are increasingly favoring powder coating due to their durability.
Regional Analysis:
Is Asia-pacific setting the path for powder coating?
Asia-pacific dominated the market in 2024, the growth of market was witnessed due to large share of demand and production. This leadership is primarily fueled by rapid urbanization, growing industrialization, and significant expansion in sectors such as automotive, consumer goods, ad construction. Amongst the top-performing countries, China leads with massive manufacturing base and export-driven industries, while India is rapidly expanding due to infrastructure development, rising middle- class consumption and government initiatives such as “Make in India.”
Top Asian Countries’ Powder Coatings Trends
What to Expect in North American Powder Coating Market Till 2034?
North America is witnessing fastest growth in 2024, in the market, due to rising demand for sustainable products, technological upgrades in industrial practices, and increasing adoption of architectural and automative applications. The regions specific focus remains on eco-friendly manufacturing, regulatory compliance and innovative driven production is further fueling the market. The key factors for market growth are superior finish quality, waste management system and advancement of technologies. With growing consumer demand coating market is set to move upwards in trajectory.
Major factors contributing towards growth:
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Segment Outlook
By Resin insights:
The polyester segment dominated the market in 2024, the growth was determined due to their excellent weather resistance, durability, and vibrant finish. These coating are extensively used in architectural, outdoor furniture and general industrial applications, thanks to their UV stability and resistance to chalking and fading their versatility and cost-effectiveness make them go-to-choice for both decorative and protective uses.
On the other hand, the epoxy segment is the fastest-growing, particularly in industrial and high-performance settings. Known for their exceptional adhesion, corrosion resistance, and mechanical strength, epoxy-based coatings are gaining momentum in sectors such as electronics, heavy machinery, and pipelines. However, their limited UV resistance confines their use mainly to interior applications or as base coats.
By application insights:
The consumer goods segment leads the market in 2024, the growth of the market was due to high demand of durable, colorful, and scratch-resistance finishes on product like refrigerators, washing machines, microwave ovens and metal furniture. Powder coatings are preferred for their ability to deliver a smooth, uniform finish while reducing environmental impact.
However, the automative segment is experiencing the fastest growth, driven by increasing vehicle production, demand for electric vehicle production, demand for electric vehicles, and growing emphasis on corrosion protection and aesthetics. Powder coatings are now being used for under-hood components, wheels, radiators, bumpers and even body panels offering high term performance.
Recent breakthroughs in the Powder Coatings Market
Browse More Insights of Towards Chem and Materials:
Powder Coatings Market Top Key Companies:
Powder Coatings Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. For this study, Towards Chem and Materials has segmented the global Powder Coatings Market
By Resin
By Application
By Regional
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