Powder Coating Market Trends

Growth Drivers

Rising Sales of Electric Vehicles – Manufacturers have successfully used powder coatings to extend the battery life and boost the performance of the battery. Powder coatings provides insulation in the electric vehicle and saves the battery from corrosion.

For instance, Global EV sales remained robust as over 10 million new BEVs and PHEVs were supplied in total in 2022.

Growing Constructional Activities - Powder coating protects painted architectural steel elements from heat, cold, and even corrosion.

According to estimates, over USD 9 trillion is spent annually worldwide on construction-related activities by people and businesses.

Challenges

Volatile Prices of the Raw Materials - Thermoplastic and thermoset resins are the primary raw materials used in product manufacturing. The pricing of powder coatings raw materials is affected by raw material fluctuation in prices. Thermoplastic coatings include nylon, PVC, polyolefin, ABS, and polycarbonate, whereas thermoset coatings include epoxy, polyester, polyurethane, and acrylic.
Production of Thin Films is Difficult With Conventional Powder Coatings
Industry related to Powder Coatings Has Constantly Had to Improve the Processing to Meet the Legal Policies

Powder Coatings Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	5.7%
Base Year Market Size (2024)	USD 15.32 billion
Forecast Year Market Size (2037)	USD 31.49 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of powder coatings is evaluated at USD 16.02 billion.

The powder coatings market size was over USD 15.32 billion in 2024 and is projected to exceed USD 31.49 billion by the end of 2037, witnessing over 5.7% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for consumer electronics and the growing environmental concerns will drive the market growth.

North America industry is estimated to hold largest revenue share 33% by 2037, impelled by growing production of oil & gas in the region.

The major players in the market are The Sherwin-Williams Company, Arkema Group, Valspar Championship, Eastman Chemical Company, PPG Industries, Inc., Akzo Nobel N.V., Evonik Industries AG, Nippon Paint Holdings Co., Ltd., Jotun A/S

Powder Coating Market Trends