Powder Coatings Market Size & Share, by Resin (Epoxy, Acrylic, Polyester, Polyurethane); Coating Method (Electrostatic Spray, Fluidized Bed); Application (Consumer Goods, Automotive, Architectural, Furniture, Appliances) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 4825
  • Published Date: Sep 19, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 - 2036

Powder Coatings Market size is poised to cross USD 36 Billion by the end of 2036, growing at a CAGR of 7% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of powder coatings was USD 17 Billion. The reason behind the growth is due to the increasing demand for consumer electronics. Advancements in technology, increase in demand from households, changing lifestyles of individuals, easier access to credit, and rising disposable incomes has driven the demand for home appliances across the globe.

Powder coatings is most commonly used to coat metals, such as household appliances. Coating powders provide insulation and protection to electronic devices. From 2021 onwards, the refrigerator market is expected to recover and reach annual sales of over 236 million units by 2025. Furthermore, approximately 215 million refrigerators are sold globally each year.

The growing environmental concerns are believed to fuel the market growth. Powder coating complies with environmental protection criteria since it is non-toxic, free of VOCs, and generates less product trash.

Powder Coatings Market
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Powder Coatings Sector: Growth Drivers and Challenges

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.


  • 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


Forecast Year




Base Year Market Size (2023)

~ USD 17 Billion

Forecast Year Market Size (2036)

~ USD 36 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)
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Powder Coatings Segmentation

Application (Consumer Goods, Automotive, Architectural, Furniture, Appliances)

The appliances segment in the powder coatings market is estimated to gain a robust revenue share of 25% in the coming years. For instance, powder coatings make up more than 70% of the industrial coatings used in the appliance industry. Moreover, powder coating is a protective coating that can be used to increase the tensile strength of a variety of consumer goods, and is well-known as a high-quality finish for both significant and minor applications in the home appliance market. Besides this, the availability of new colors and finishes in powder coatings for appliances allows increased creative versatility.  

Resin (Epoxy, Acrylic, Polyester, Polyurethane)

The epoxy segment is set to garner a notable share of 30% shortly on the account of the versatility of the epoxy resin. Epoxy resin is an adaptable compound that may be utilized for a wide range of tasks. It is robust and long-lasting, making it an excellent choice for a variety of applications. The epoxy allows for the application of a thin, homogeneous coating directly onto the metal, even in very small crevices and cavities, resulting in a consistent texture. Additionally, epoxy resins' function is to give excellent adherence to metal and resistance to corrosive chemicals. Epoxies are more resistant to heat and chemicals than most glues and can bond to wood, metal, glass, stone, and some plastics.

Our in-depth analysis of the global market includes the following segments:


  • Epoxy
  •  Acrylic
  •  Polyester
  • Polyurethane

       Coating Method

  • Electrostatic Spray
  • Fluidized Bed


  • Consumer Goods
  • Automotive
  • Architectural
  •  Furniture, Appliances

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Powder Coating Industry- Regional Synopsis

North American Market Forecast

Powder coatings market in North America is predicted to account for the largest share of 33% by 2036 impelled by the growing production of oil & gas. This may increase the demand for powder coatings in the region as the pipelines used in oil and industrial gas exploration and transportation are powder coated on both the exterior and inside to protect them from environmental elements. In the first two months of 2023, U.S. gas production reached a record of over 5,980 billion cubic feet.

European Market Statistics

The Europe powder coatings market is estimated to hold the second largest of 28%, during the forecast timeframe led by the rising production of agricultural machinery and equipment. The European Agricultural Machinery Industry supports the development and promotes the use of technology in one of Europe's most ancient, diverse, and core businesses farming. Many farmers worldwide rely on agricultural machinery made in Europe, with tractors, green space equipment, harvesting equipment, and soil working equipment making for the majority of the bloc's exports.

Research Nester
Powder Coatings Market Size
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Companies Dominating the Powder Coatings Landscape

    • Axalta Coating Systems
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • The Sherwin-Williams Company
    • Arkema Group
    • Valspar Championship
    • Eastman Chemical Company
    • PPG Industries, Inc.
    • Akzo Nobel N.V.
    • Evonik Industries AG
    • Evonik Japan Co., Ltd.
    • DIC Corporation
    • Sun Chemicals


In The News

  • PPG Industries, Inc. announced the launch of PPG CORAFLON Platinum, powder coatings. It is the latest product for architectural metal. This innovative technology has excellent transfer efficiency, increased gloss ranges, and improved corrosion performance on aluminum. Moreover, it gives a myriad of choices of colors, bonded metallics, and glosses for metal construction.
  • AkzoNobel announced the acquisition completion of Stahl Performance Powder Coatings and it’s all the ranges. It comprises both UV and thermally curing powders, allowing the company to enter the ultra-low cure (80-100°C) domain.



Author Credits:  Smruti Ranjan, Rajrani Baghel

  • Report ID: 4825
  • Published Date: Sep 19, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for consumer electronics and the growing environmental concerns are the major factors driving the growth of the market.

The market size of Powder Coating is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024 – 2036.

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

The appliances segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Powder Coating Market Report Scope

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