Powder Coatings Market

Powder coated products have widespread application in the architectural sector. These coatings are available in a variety of finishes and colors and offer exceptional durability.

The powder coatings market size exceeded $13.5 billion in 2022 and is anticipated to exhibit more than 5.5% CAGR from 2023-2032, according to a report from Global Market Insights (GMI). The growing focus on VOC reduction has been one of the factors driving market expansion.

According to GMI researchers, technological advancements in fluoropolymer powders and polyester-TGIC have enabled the introduction of novel powder coatings which are resistant to fading, durability and weatherability equivalent to liquid architectural coatings.

Powder coatings have a wide range of applications in the architectural segment, including outdoor stadium seating; window and door frames; modular furniture; guard rails; light poles and plumbing fixtures. Increased global construction activities will create new opportunities in the powder coatings industry.

According to Marizeth Carvalho, PPG global business director, powder, the size of the powder market started to recover in 2022.

“Adjustments due to the raw material challenges and cost increments were taking place and increased volumes were driven by the expansion in infrastructure in India and China; however, overall volumes did not reach expectations due to the global market slow down and decreased demand in the architectural industry,” she said. “PPG continues to see positive trends for low cure powder technology, such as our PPG ENVIROCRON HeatSense powder coating, and growing opportunities in the automotive industry.”

“Over the past year, market performance has varied depending on specific regions and segments,” said Mike Bourdeau, president of General Industrial Coatings, Sherwin-Williams. “We saw evolving and emerging segments like Heavy Equipment and Energy outperform pre-pandemic levels, while other segments slowed due to economic conditions. However, we’re excited to see that overall interest in powder coatings is steadily growing. As sustainability becomes more of a focus for the industry, manufacturers are looking for innovative solutions to support their goals and lessen their environmental impact – leading to an increasing adoption of powder coating products across North America and globally.”

Powder Vs. Liquid

Powder coatings offer users a number of advantages over liquid coatings. They are valued for their environmental friendliness, cost effectiveness, efficiency in application and ease of use.

“Powder coatings offer advantages over liquid coatings at every point in the lifecycle,” Carvalho noted. “Powder coatings have enhanced durability, exceptional chip and abrasion resistance, have low volatile organic compound (VOC) content and are cost efficient due to high transfer efficiency and reclaimability.

“From an applicator perspective, powder coatings offer low cost-of-entry to the market, have low personal protective equipment (PPE) requirements, do not require solvents for clean-up and have less impact to the environment compared to competing liquid coatings,” added Carvalho. “In addition, there are no special storage or transportation requirements in powder coating processes and no hazardous waste is generated during the process.

“However, it is important for PPG to provide customized solutions for our customers’ needs,” she added. “Therefore, all our technologies or a combination of them are equally important to our business and our customers. Liquid still serves a specific and important purpose, as does pretreatment, ecoat and ultraviolet, etc. We pride ourselves on providing tailored options for our customers based on our expertise, knowledge and innovation, instead of pushing a specific product or technology. Our success lies in not taking a one-size-fits-all approach.”

According to Bourdeau, powder coatings can deliver thicker layers and superior protection without the risk of running or sagging.

“Powder is also lighter, making transportation and storage easier and less costly,” Bourdeau observed. “There is also significantly less product waste involved in application. In most instances, any overspray can be collected for recycling or reuse, creating both economic and environmental advantages. The environmental advantages of powder coatings are diverse. Unlike solvent-based liquid coatings, powder doesn’t emit any VOCs during application – which is much safer for employees and the environment.”

As the popularity of powder coating continues to grow, Bourdeau noted that industry researchers are finding innovative ways to improve sustainable performance, such as incorporating recycled and biobased materials into powder coating resins.

“One of our newest product lines, Powdura ECO, uses polyester resins created from post-consumer recycled plastic to deliver meaningful contributions toward sustainability, without sacrificing durability or performance,” said Bourdeau. “As the industry continues to advance and innovate, I expect we’ll see more of these sustainably advantaged solutions come into play, which is really invigorating.”

Growth Opportunities

Powder coatings’ versatility make it a viable option for an array of market segment.

“Powder coatings are poised to grow across a wide range of markets, but there are a few industrial segments that stand out for us,” said Bourdeau. “The Heavy Equipment sector is always innovating, and advancements in technology are currently prompting investments in new equipment. Legislation like the infrastructure bill also sets this market up with strong potential for growth over the next five years. Energy is an emerging segment with great potential for powder coatings as well, due in large part to significant investments to manufacture electric vehicles, battery components and microchips domestically. We’re excited to see how this technology develops over the next few years and look forward to being part of a flourishing new market that aligns with our vision of realizing a sustainably finished industrial world.”

According to Carvalho, because industrial is a conglomerate, it is hard to pinpoint specific segments that represent the highest opportunities for growth. “However, in general, powder has been a huge focus of PPG’s growth strategy since 2019.”

PPG recently invested $44 million to expand its U.S. and Latin American powder capabilities.

“Within powder, we see significant opportunities with the extrusion and electrification of vehicles and equipment,” said Carvalho. “We are also seeing more and more customers convert their liquid lines to powder lines because of the sustainability and performance attributes.”

Global Regulations Drive Growth

As the concepts of sustainability and circular economy gain traction, powder coatings are making inroads globally. 

“Sustainability is a driving factor across all regions due to changing global regulations and the desire to reduce environmental impact, which is why powder coatings are a key focus for PPG,” said Carvalho.

Global Market Insights predicts that the Asia Pacific powder coatings market will expand at more than 6% CAGR between 2023 and 2032. This can be attributed to a rise in the middle class, increased urbanization, sustainable economic growth and improving lifestyles in countries such as India, South Korea and China. According to GMI’s market report, “over the last decade, the architectural and home décor landscape has undergone a significant transformation with an increasing inclination toward western trends and culture. Consumers are preferring modular kitchens and lighting along with multifunctional furniture. Furthermore, the region is expected to emerge as a hotspot for powder coating manufacturers due to the abundance of raw materials.”

PPG sees Asia and Europe leading the way in demand that is driving growth for powder.

“We’re specifically seeing increased opportunities in Greater China due to the heightened focus on sustainably advantaged products, said Carvalho. “Although the Americas region is not leading the way in terms of powder volume, there are a lot of segments that are already utilizing or transitioning to powder technology. We are continuing to see a shift from liquid to powder, uncovering a lot of opportunities for innovation and customization.”

“Consumers and companies worldwide are increasingly attuned to the impact their projects have on the environment,” said Bourdeau. “They’re paying higher attention to the impact of their products, materials and processes used during manufacturing. Powder coatings offer numerous sustainability advantages and benefits equitable to other, less environmentally responsible alternatives. As technology advancements continue to improve the durability, performance and aesthetics of powder coatings, we expect to see more and more industries and segments globally make this shift.”

New Products

This spring, PPG announced new ERGOLUXE powder formulations for the office furniture industry that are made without intentionally added PTFE chemicals for both smooth and textured finishes, a breakthrough in the industry. This new generation of protective power coatings are virtually indistinguishable in performance from the original formulation in terms of hardness, flexibility, durability, as well as stain-, scratch- and fade-resistance.

PPG has pioneered dielectric powder for electric vehicles to enhance their safety. PPG ENVIROCRON Extreme Protection Thermally Conductive Dielectric powder coating is engineered to provide thermal conductivity in a dielectric material to enhance safety and performance. Used instead of film and/or tape solutions, this product supports high throughput and automated application. This coating enables electric vehicle manufacturers to operate at a high level of automation and high-yields necessary to support the rapid growth in electric vehicle adoption. The powder coatings offer excellent electrical insulation performance and durability for long-term battery safety and thermal conductivity to enhance cooling efficiency.

PPG CORAFLON Platinum powder represents a breakthrough in powder coating technology for the extrusion industry. Coatings offer FGIA/AAMA 2605-compliance, backed by more than nine years of test data (Florida), and a high transfer efficiency rate that is 20% higher than standard FEVE powders. The innovative formulation improvements deliver better corrosion protection in a single coat, a broader gloss range and specialty effects previously unavailable using FEVE technology — including the ever popular and timeless anodized finish. The fully reclaimable powder delivers fast film build with very little waste even in difficult-to-reach recesses. PPG Coraflon Platinum coating is also specifically formulated without major substances of concern, including VOCs, HAPs, BPA, TGIC and PFOA.

PPG ENVIROCRON HeatSense powder coating was launched for heat-sensitive substrates like wood and wood-composite applications including medium-density fiberboard (MDF), hardwood, plywood and similar products. Engineered to complement the latest advances in low-temperature cure technology, PPG Envirocron HeatSense coating is formulated to overcome the barriers that have traditionally prevented powder coatings from being a viable option for the wood-finish market. The coating can cure in as few as five minutes at 250°F, can be applied uniformly over heat-sensitive substrates and accommodate the shrinking and swelling of wood over the finished product’s lifetime.

PPG recently introduced PPG ENVIROCRON Primeron primer powder portfolio in European markets. The product family is designed to provide high corrosion resistance for metal substrates, including steel, hot-dip-galvanized steel, metalized steel and aluminum. Primeron primer in a multi-layer system offers optimal corrosion protection and is key to extending a product’s lifespan and preserving its structural integrity. PPG Envirocron Primeron primer powder portfolio has been tested according to the corrosivity categories and approved by the QUALISTEELCOAT international quality label for coated steel.

Carvalho said she is hearing more often than ever about the importance of sustainability, whether it is lower cure products at a customer location, addressing materials of concern or total life cycle management.

“These are gaining traction in all areas of our business globally and where we are focusing our research and development efforts. Our 2030 Environmental, Social and Governance (ESG) goals are a major driver in the formulation of new PPG products and processes. Some of the key goals include 50% of sales from sustainably advantage products; 100% process waste reuse, recycle or recovery; 50% reduction in Scope 1 and 2 GHG emissions (validated science-based target) and 30% reduction in Scope 3 GHG emissions (validated science-based target). PPG will continue to focus on advancements in low cure powders, non-PFAS coatings, powder primers and more in 2023 and beyond.”

Sherwin-Williams’ Bourdeau noted that the company is constantly innovating and driving sustainability across products and processes.

“To create our newest line of powder coatings – Powdura ECO – we took plastic bottles out of the waste stream and repurposed the polyester resins from those bottles as material in our powder coating formula. This not only allows us to put circular economy principles in action, it also helps lower CO2 emissions while still delivering all the performance attributes of a traditional polyester powder coating.”

The Powdura ECO line includes a range of options to meet various industry specifications and standards. Later this year, Sherwin-Williams is launching a super-durable version designed for the architectural market called Powdura ECO 4000, which meets AAMA 2604 standards.

“Our R&D labs are always buzzing with new ideas and developments,” said Bourdeau. “From vibrant color trends and enhanced edge protection, to new development partnerships and sustainability campaigns, we have a lot in store that we’re excited to share.”