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limitations on products that generate high VOCs promote the sales of powder coatings are expected to drive innovation in powder coatings manufacturing, thus driving the market during the forecast period.

The global powder coatings market is expected to grow from $17.82 billion in 2022 to $19.15 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The global powder coatings market size is expected to grow from $24.79 billion in 2027 at a CAGR of 6.7%.

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Global Powder Coatings Market Segments Include:

• By Type: Thermoset, Thermoplastic
• By Coating Method: Electrostatic Spray, Fluidized Bed
• By End Userr Application: Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, & Earthmoving Equipment (ACE), General Industrial, Other End-User Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global powder coatings market in 2021.

Major Market Players in the powder coatings market include AkzoNobel N.V., PPG Industries, Sherwin Williams, BASF SE, Axalta Coating Systems, Kansai Nerolac Paints Limited, Jotun, IFS Coatings.

Companies are now focusing on a new coating technology for heat-sensitive substrates such as medium-density fiberboard (MDF). This technology consumes less power as the curing process is done at a lower temperature compared to the conventional method. For instance, IGP-RAPID, released by IGP, is based on new raw materials combined with IGP technology and enables low-temperature powder coatings at 266 °F (130 °C) and curing times of 3 minutes. This technology is ecological, enhances product design, and provides long-term functional protection.

The Powder Coatings Global Market Report 2023  provides a powder coatings market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The powder coatings market forecast analyzes powder coatings market size, powder coatings market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Powder coating is a finishing process that keeps the binder and filler parts in a liquid suspension form. Powder coating is a technique that generally involves coating an entity with free-flowing, dry powder electrostatically and then curing it under heat or with ultraviolet light.

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