Powder Coatings Market

The powder coating market is projected to grow from USD 15.4 billion in 2024 to USD 20.2 billion by 2029, at a CAGR of 5.5% between 2024 and 2029. The driving factor for powder coating lies in its diverse range of applications across multiple industries. Powder coatings find extensive applications across a spectrum of industries including automotive, appliances, furniture, architectural, general industrial, as well as in sectors like oil & gas, pipes, fittings, wastewater treatment, valves, and tanks. Furthermore, the continuous evolution of new applications, such as the utilization of powder coatings on wood and plastics, contributes to the growing demand.

The environmental benefits associated with powder coatings are prompting a shift from liquid coatings to powder alternatives. Leading manufacturers of powder coating technology are capitalizing on this trend, particularly in exploring the untapped potential of plastics applications within automotive, appliances, and other industries.

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The appliance and furniture sectors are poised for steady growth, while telecom and IT emerge as new markets witnessing substantial adoption of powder coatings. Notably, powder coatings are extensively utilized in automotive applications, coating various components including door handles, window handles, bumpers, and mechanical parts such as shock absorbers, radiator coil springs, and braking components.

Robust economic growth, particularly in the Asia-Pacific region, is attracting increased investments, with steel companies driving advancements in construction, appliances, electronics, and automotive sectors across developing nations in the Middle East and Asia Pacific. This surge in industrial activity further amplifies the demand for powder coatings.

The major players operating in this business include, PPG Industries, INC., Axalta Coating Systems, The Sherwin-Williams Company, Akzonobel N.V., Kansai Paint Company.

PPG Industries, INC.:  PPG Industries, INC. PPG Industries, Inc., headquartered in the United States, is a leading supplier of paints, coatings, optical products, specialty materials, glass, and fiberglass. Operating across three main segments: Performance Coatings, Industrial Coatings, and Glass, PPG serves a diverse array of end-use industries including construction, consumer products, industrial, and transportation.

Under its Industrial Coatings segment, PPG provides automotive coatings, catering to the specific needs of the automotive sector. The company maintains a global presence with operations spanning North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa, serving customers in over 156 countries worldwide.

Recent Developments:

In August 2022, PPG Industries, INC., expands its production capacity for growing demand for powder coating in Mexico.

In March 2022, PPG Industries, INC., opened a research and development center in Milan, Italy, for the development of innovative technologies for powder coatings.

The Sherwin-Williams Company: The Sherwin-Williams Company stands as a diversified coatings enterprise, renowned as a premier supplier of cutting-edge liquid and powder coatings for the global OEM market. With manufacturing facilities spanning across the United States, Canada, Mexico, and China, the company boasts a robust presence with one manufacturing and nine facility locations.

With a broad product portfolio encompassing renowned brands like Sherwin-Williams, HGTV HOME by Dutch Boy, Krylon, Minwax, and Thompson's Water Seal, Sherwin-Williams serves a wide customer base across Europe, North America, Asia Pacific, and other regions.

Operating through three key segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group, Sherwin-Williams manufactures protective coatings under the Performance Coatings Group segment, distributed in over 120 countries worldwide.

Related Reports:

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

Contact:
Mr. Aashish Mehra
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