The market size for powder coatings size will grow to USD 16.8 billion by 2026 from USD 13.8 billion in 2021, at a CAGR of 3.9% during the 2021-2026 period. APAC is the largest consumer of powder coatings. Growth in various end-use industries, stringent environmental regulations, and technological advancements are the factors driving the powder coatings market.

Browse 348 market data Tables and 57 Figures spread through 408 Pages and in-depth TOC on "Powder Coatings Market by Resin Type (Thermoset and Thermoplastic), Coating Method (Electrostatic Spray, Fluidized Bed), End-use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture) and Region - Global Forecast to 2026"

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COVID-19 Impact on the Global Powder Coatings Market
The outbreak of COVID-19 has disrupted the production of raw materials used in paints and coatings manufacturing. Asian countries such as India, China, Japan, Singapore, and Thailand are the hubs for paints and coatings manufacturing and are major suppliers of these raw materials. The outbreak of the novel coronavirus in APAC has affected the supply of these raw materials. For instance, China is one of the major suppliers of resins and exports a million tons of resins in the global market. The break in the supplies of raw materials has reduced the production of paints and coatings products.

In April 2020, all private buildings and construction sites, government constructions, and refinish automotive businesses were hit drastically. Retailors are also canceling already placed bulk orders of paint and coatings products due to the shutdown of the market. End-use consumers are not buying expensive coating technologies such as polyurea and polyurethanes from distributors and retailers due to COVID-19. Overall, the sales of paints and coatings products are hampered at the distributors’ level due to the suspension of construction and building activities.

PPG is a US-based company that manufactures and distributes coatings and optical & specialty materials. The company mainly operates through two segments: Performance Coatings and Industrial Coatings. It provides powder coatings under the Industrial Coatings segment. These powder coatings provide great chip and corrosion resistance to extend the life of the substrate and are available in various chemistries, such as epoxy, epoxy polyester hybrids, polyester, polyurethane, acrylics, and fluoropolymer. Envirocron, Duranar, Caroflon, Silversan, and FasTREK are some of the brand names under which PPG manufactures powder coatings. The Performance Coatings segment includes paints and coatings for aerospace, automotive, marine, and architectural applications. In March 2020, PPG completed its acquisition of Alpha Coating Technologies, LLC (“Alpha”). The acquisition provides additional powder manufacturing capacity. This includes small batch and low cure powder manufacturing capabilities for general finishes, light industrial, furniture, and heat-sensitive substrate end uses.

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Appliance industry is the fastest-growing end-use industry segment of the Powder Coatings market.
The appliance industry is projected to be the fastest-growing end-use industry of Powder Coatings. Factors such as increase in per capita income and consumer spending, changing consumer preferences, and growing need for automation and technology advancements, are behind the rapid growth of the powder-coated appliances market. The developing economies of India, Brazil, and Russia are expected to be key consumers during the projected period because of the developing consumer goods market in these countries. China has been the largest revenue generator in the appliances industry.

APAC is the largest Powder Coatings market, globally.
APAC is the leading market for Powder Coatings. Countries such as India, China, and Indonesia are investing heavily in various end-use industries, which is likely to influence the growth of the powder coatings market in these countries. The market in the APAC region will witness a significant rise owing to the growth of the electronics and automotive industries in China, Thailand, India, South Korea, and Taiwan. Increasing demand for consumer goods, including washing machines and refrigerators, in countries such as India, China, Vietnam, the Philippines, and Thailand, is expected to boost the demand for powder coating in these applications.
The key players profiled in the Powder Coatings market report are PPG Industries, Inc. (US), The Sherwin-Williams Company (US), Akzo Nobel N.V. (Netherlands), Axalta Coating Systems, LLC (US), and Jotun A/S (Norway).

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