Market Size of Powder Coatings Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
