The powder coatings market is witnessing steady growth, driven by rising demand for durable, eco-friendly coating solutions across various industries. Leading companies are focusing on innovation, sustainability, and capacity expansion to strengthen their market position and meet the evolving needs of global industries.
Market Trends and Insights
The powder coatings market is projected to rise from $16.30 billion in 2025 to $23.07 billion by 2031, with a compound annual growth rate (CAGR) of 5.96%. The thermoset resin segment is anticipated to register the highest growth rate, with a CAGR of 6.06% during the forecast period, driven by its exceptional durability, chemical resistance, and long-lasting performance.
The key players in the powder coatings market include The Sherwin-Williams Company, PPG Industries, Inc., Akzo Nobel N.V., Jotun, Asian Paints Limited, Kansai Paint Co., Ltd., Nippon Paint Holding Co., Ltd., RPM International, Inc., Axalta Coating Systems Ltd., and Protech Group. These companies are focusing on broad product portfolios, technological advancements, and extensive global distribution networks to strengthen their market position.
Asia Pacific remains the leading regional market, accounting for 58.3% of the global market share. Europe was the second-largest market for powder coatings in 2024, in terms of value, due to the prominence of the automotive, furniture, and industrial manufacturing industries in the region.
Original reporting: KTBS 3 (Shreveport) — read the source article.
