The Powder Coatings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Powder Coatings Global Market Report 2024, The powder coatings market size has grown strongly in recent years. It will grow from $19.06 billion in 2023 to $20.5 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to durability and corrosion resistance, industrial and manufacturing applications, automotive industry, architectural and building materials.
The powder coatings market size is expected to see strong growth in the next few years. It will grow to $26.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to sustainability and low environmental impact, renewable energy infrastructure, automotive sector expansion, customized and functional coatings. Major trends in the forecast period include technological advancements, smart coatings, nanotechnology integration, bio-based powder coatings.
The increasing demand for the construction sector is expected to propel the growth of the powder coatings market going forward. The construction sector, also known as the construction industry, encompasses a broad range of activities related to the planning, design, construction, renovation, and maintenance of physical structures and infrastructure. Powder coatings are commonly used on architectural elements such as aluminium and steel window frames, doors, railings, and curtain wall systems. They provide a durable, weather-resistant, and attractive finish that enhances the aesthetics of buildings. For instance, in September 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the increasing demand for the construction sector is driving the growth of the powder coatings market.
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The powder coatings market covered in this report is segmented –
1) By Type: Thermoset; Thermoplastic
2) By Coating Method: Electrostatic Spray; Fluidized Bed
3) By End Userr Application: Appliances; Automotive; Architectural; Furniture; Agriculture, Construction, & Earthmoving Equipment (ACE); General Industrial; Other End-User Applications
The powder coatings market report table of contents includes:
- Executive Summary
- Powder Coatings Market Characteristics
- Powder Coatings Market Trends And Strategies
- Powder Coatings Market – Macro Economic Scenario
- Global Powder Coatings Market Size and Growth
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- Global Powder Coatings Market Competitive Benchmarking
- Global Powder Coatings Market Competitive Dashboard
- Key Mergers And Acquisitions In The Powder Coatings Market
- Powder Coatings Market Future Outlook and Potential Analysis
- Appendix
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