The global powder coatings market is expected to reach $15 billion in 2026

The global powder coatings Market is expected to reach $15 billion by 2026, with a compound annual growth rate of 5.4% between 2019 and 2026, according to a new report released by Allied Market Research.

Powder coatings for automotive applications dominated the major powder coatings market by revenue in 2018 and are expected to maintain their leading position throughout the analysis period.

Important drivers in the powder coatings market include the increasing adoption of powder coatings instead of liquid coatings, environmental regulatory support, increased demand for electrical appliances, booming construction industries, and rapid economic growth in emerging countries. However, the difficulty of applying thin coatings is expected to hinder this growth.

In 2018, the thermosetting powder coatings segment dominated as it offered superior finish and excellent durability, reducing maintenance and extending the shelf life of coated products. In addition, strict regulations have led to increased penetration of powder coatings into liquid coatings. Overspraying powder coatings can be recycled, which means that 100% of the paint can be used. Powder coatings for home appliance applications are expected to experience high growth during the forecast period.

Electrostatic spraying is the most commonly used coating technology because it can coat complex shapes and does not require preheating of components. This segment is expected to continue to dominate throughout the forecast period.