Powder Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Polyester Coating Manufacturers and is segmented by resin type (acrylic, epoxy, polyester, polyurethane, epoxy-polyester, and other resin types), end-user industry (architecture and decorative, automotive, industrial, and other end-user industries), and geography (Asia Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Powder Coatings in value (USD million) for all the above segments.

Powder Coatings Market Size

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Powder Coatings Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 5.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Powder Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Powder Coatings Market Analysis

The powder coatings market is projected to register a CAGR higher than 5.5% during the forecast period.

Due to the COVID-19 outbreak, nationwide lockdowns around the globe disrupted manufacturing activities, and supply chains, production halts, and labor unavailability negatively impacted the powder coating market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory during the forecast period.

  • Over the medium term, the significant factors driving the market studied are strict regulation against VOC emissions and favorable government initiatives promoting powder coatings usage.
  • Conversely, the difficulties in obtaining thin film coatings are expected to hinder the market's growth.
  • Nevertheless, growing investments in the infrastructure and construction industry in the emerging economies of the Asia-Pacific region is likely to create growth opportunities for the market studied.
  • Asia-Pacific dominated the market globally, with the most significant consumption from countries such as China, South Korea, and India.

Powder Coatings Market Trends

This section covers the major market trends shaping the Powder Coatings Market according to our research experts:

Growing Demand from Architectural and Decorative Segment

  • One of the fastest-growing markets for powder coatings is the architectural and building market, primarily due to powder coating durability.
  • Moreover, polyester resin technology expansion, namely stable, low-gloss formulas, provided architectural market opportunities that promoted powder coating growth.
  • Due to the variety of colours and finishes available in powder coatings, many construction companies are turning to powder coatings to provide long-term exterior finishes for outdoor venues and public work projects.
  • In April 2021, PT Jababeka Morotai, a subsidiary of Jababeka Group, collaborated with the OISCA International College Foundation (OISCA International) to develop the Morotai Special Economic Zone (KEK). Under this collaboration, a World War II monument and supporting facilities will get constructed in KEK, North Maluku Province, Indonesia.
  • In the North American market, green construction practices explosion and globalization have further increased the awareness regarding powder coatings as a viable option to coat architectural aluminum.
  • In 2021, according to the U.S. Green Building Council (USGBC), 1,105 projects had been certified with LEED certification for green buildings in the top 10 states of the US with 247 million GSF land. It will likely provide a massive opportunity for powder coatings in the region.
  • As per US Census, the new construction value was around USD 1.62 trillion, with a notable growth of 8.46% from USD 1.49 trillion in 2020. The upward growth trend is expected to boost the market and create lucrative opportunities in the forecast period.
  • According to FIEC, the construction industry witnessed a notable growth in total investment, with 5.2% in 2021, and amounted to EUR 1.6 trillion (~USD 1.70 trillion). The most significant rise in investment was observed in Italy (16.4%), followed by Estonia (10.7%), Greece (10.6%), and France (10.5%). A rapid increase in investment in European Union is anticipated to trigger growth opportunities for the Architectural and Decorative segment, which in turn would help the development of the Powder Coating market.
  • Therefore, with the abovementioned factors, the demand for powder coatings in the architectural and decorative industries will likely increase over the forecast period.
Powder Coatings Market - Construction Put in Place, in USD billion, United States, 2017-2021

Asia-Pacific to Dominate the Market

  • In the Asia-Pacific region, China and India dominated the global market share due to the rising consumption from the automotive industry, construction activities, and industrial goods. It is augmenting the demand for the powder coatings market in the region.
  • China is in experiencing massive growth in its construction sector. According to the National Bureau of Statistics of China, in 2021, the construction output in China was valued at approximately CNY 29.31 trillion (~USD 421.57 billion).
  • In the Indian Union Budget 2022-23, capital expenditure on infrastructure increased sharply by 35.4%, from INR 5.54 lakh crore (~USD 66.98 billion) to INR 7.50 lakh crore (~USD 90.59 billion) in 2022-23, which includes a total of 2,000 km of the rail network and 60,000 houses under PM Aawas Yojna, among others.
  • In September 2021, Axalta announced that it broke ground to construct a state-of-the-art coatings facility in Jilin City, Jilin Province, North China. The 46,000 sq m new plant will produce mobility coatings for light vehicles, commercial vehicles, and automotive plastic components.
  • In May 2021, PPG announced a USD 13 million investment completion in its Jiading, China, paint and coatings facility, including eight new powder coating production lines and an expanded Powder Coatings Technology Center. The expansion will increase the plant's capacity by more than 8,000 metric tons annually.
  • Furthermore, in 2021, electric vehicle sales in China skyrocketed by 154%, with total electric vehicle sales of 3.3 million units, up from 1.3 million in 2020. It is the Ministry of Finance of China's statement to provide financial subsidies for new electric vehicles, as they will be exempted from vehicle purchase tax between January 1, 2021, to December 31, 2022.
  • Hence, with such trends mentioned above and the end-user mentioned above industries' growth, the demand for powder coatings is estimated to grow substantially in the region during the forecast period.
Powder Coatings Market - Growth Rate by Region, 2022-2027

Powder Coatings Industry Overview

The powder coatings market is fragmented, with only a few international players holding a considerable share and several local players in individual countries. These major players include Akzo Nobel NV, Axalta Coating Systems LLC, The Sherwin-Williams Company, PPG Industries Inc., and Jotun.

Powder Coatings Market Leaders

  1. Axalta Coating Systems, LLC

  2. The Sherwin-Williams Company

  3. Jotun

  4. Akzo Nobel NV

  5. PPG Industries Inc.

*Disclaimer: Major Players sorted in no particular order

Powder Coatings Market Concentration
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Powder Coatings Market News

  • August 2022: PPG will be investing USD 11 million to double the manufacturing capacity of its powder coatings factory in San Juan del Rio, Mexico. By mid-2023, the expansion project is anticipated to finish, enabling the factory to provide Mexico's estimated demand for powder coatings.
  • May 2022: AkzoNobel Powder Coatings developed a range of ready-to-ship (RTS) powder coatings, mainly for the North American market. The new range includes AkzoNobel's powder coatings brands, Resicoat and Interpon, and is suited to serve urgent coatings projects.
  • April 2022: PPG Industries acquired the powder coatings business of Arsonsisi, an industrial coatings company based in Milan, Italy. The acquisition will offer PPG a highly automated powder production factory in Italy, capable of producing small and big batches.

Powder Coatings Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Strict Regulations against VOC Emissions and Favorable Government Initiatives Promoting the Use of Powder Coatings

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Difficulty in Obtaining Thin Film of Powder Coating

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Resin Type

      1. 5.1.1 Acrylic

      2. 5.1.2 Epoxy

      3. 5.1.3 Polyester

      4. 5.1.4 Polyurethane

      5. 5.1.5 Epoxy-Polyester

      6. 5.1.6 Other Resin Types (Polyvinyl Chloride, Polyolefins)

    2. 5.2 End-user Industry

      1. 5.2.1 Architecture and Decorative

      2. 5.2.2 Automotive

      3. 5.2.3 Industrial

      4. 5.2.4 Other End-user Industries (Furniture, Appliances)

    3. 5.3 Geography

      1. 5.3.1 Asia Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. South Africa

        2. Saudi Arabia

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Akzo Nobel NV

      2. 6.4.2 Asian Paints PPG Pvt. Limited

      3. 6.4.3 Axalta Coating Systems LLC

      4. 6.4.4 BASF SE

      5. 6.4.5 Berger Paints India Limited

      6. 6.4.6 Cardinal

      7. 6.4.7 IFS Coatings

      8. 6.4.8 IGP Pulvertechnik AG

      9. 6.4.9 Jotun

      10. 6.4.10 Kansai Paint Co. Ltd

      11. 6.4.11 National Paints Factories Co. Ltd

      12. 6.4.12 Nippon Paint Holdings Co. Ltd

      13. 6.4.13 Nivera Paints (India) Pvt. Ltd

      14. 6.4.14 PPG Industries Inc.

      15. 6.4.15 RPM International Inc. (TCI Powder Coatings)

      16. 6.4.16 SAK Coat

      17. 6.4.17 SHAWCOR

      18. 6.4.18 The Sherwin-Williams Company

    5. *List Not Exhaustive

    1. 7.1 Growing Investments in the Infrastructure in the Emerging Economies of the Asia Pacific Region

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Powder Coatings Industry Segmentation

Coatings are used to provide color/texture for various objects. Apart from aesthetic applications, coatings are also used to protect/increase the shelf life of metals and other materials. Owing to the factors above, they are increasingly used in various end-user sectors, including construction and infrastructure, automotive and transportation, oil & gas, and other industries. The powder coatings market is segmented by resin type, end-user industry, and geography. The market is segmented by resin type: acrylic, epoxy, polyester, polyurethane, epoxy-polyester, and other resin types. By end-user industry, the market is segmented into architecture and decorative, automotive, industrial, and other end-user industries. The report also covers the market size and forecasts for the powder coatings market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on value (USD million).

Resin Type
Other Resin Types (Polyvinyl Chloride, Polyolefins)
End-user Industry
Architecture and Decorative
Other End-user Industries (Furniture, Appliances)
Asia Pacific
South Korea
Rest of Asia Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa
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Powder Coatings Market Research FAQs

The Powder Coatings Market is projected to register a CAGR of greater than 5.5% during the forecast period (2024-2029)

Axalta Coating Systems, LLC, The Sherwin-Williams Company, Jotun, Akzo Nobel NV and PPG Industries Inc. are the major companies operating in the Powder Coatings Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Powder Coatings Market.

The report covers the Powder Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Powder Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Based on end-use Architectural and Decorative Segments leading the Powder Coatings Market.

Powder Coatings Industry Report

The global powder coatings market is experiencing a significant upward trajectory, fueled by increasing demand from key sectors such as appliances, automotive, general industrial, architectural, and furniture. Esteemed for their durability, corrosion, and chemical resistance, alongside environmental advantages such as low VOC emissions, powder coatings are becoming the go-to solution in the powder coating industry. The electric vehicle (EV) sector's rapid expansion in regions like North America, Europe, and China is notably boosting powder coating market demand. The powder coatings market sees opportunities in high-performance fluorine resin-based powder coatings for their superior chemical and weather resistance. Additionally, burgeoning investments in infrastructure and construction within emerging economies, including India and China, are propelling powder coating industry growth. Dominated by the Asia-Pacific region, due to substantial contributions from China, South Korea, and India, the powder coatings market benefits from robust industrial growth and a rising demand for durable, aesthetically pleasing products. For detailed insights, Mordor Intelligence™ Industry Reports offer an in-depth analysis of the powder coatings market, including market share, size, revenue growth rates, and a forecast outlook, available as a free report PDF download.

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Powder Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)