Market Size of North America Powder Coatings Industry
Study Period | 2019-2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 1.57 Billion |
Market Size (2029) | USD 1.91 Billion |
CAGR (2024 - 2029) | 4.00 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Powder Coatings Market Analysis
The North America Powder Coatings Market size is estimated at USD 1.57 billion in 2024, and is expected to reach USD 1.91 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).
North America's Powder coatings market was negatively affected by the COVID-19 pandemic as it resulted in lockdowns in the United States, Canada, and Mexico, which affected the automotive and construction industries. However, the market recovered well after the restrictions were lifted. The market registered a significant growth rate recently due to rising demand for powder coatings in the construction and automotive industries.
Over the short term, the increasing usage of powder coatings in the automotive industry, the favorable government initiatives promoting the use of powder coatings, and the recycling property of powder coatings are expected to drive the market.
The difficulty in obtaining a thin film of powder coating hinders market growth.
The emergence of new application methods for powder coatings is expected to create opportunities for the market during the forecast period.
The United States is expected to dominate the market due to the rising demand for powder coatings in the construction and automotive end-user industries. It is also expected to register the highest CAGR during the forecast period.
North America Powder Coatings Industry Segmentation
Powder Coatings are used to provide color/texture for various objects. Apart from aesthetic applications, coatings are also used to protect/increase the shelf life of metals and other materials. Owing to the factors above, they are increasingly used in various end-user sectors, including construction and infrastructure, automotive and transportation, oil & gas, and other industries.
The North American powder coatings market is segmented by resin type, end-user industry, and geography. The market is segmented by resin type the market is segmented into acrylic, epoxy, polyester, polyurethane, epoxy-polyester, and other resin types (polyvinyl chloride, polyolefins, etc.). By end-user industry, the market is segmented into architecture and decorative, automotive, industrial, and other end-user industries (furniture, appliances, etc.). By geography, the market is segmented into the United States, Canada, and Mexico. The report also covers the market size and forecasts for the United States Powder Coatings market for 3 major countries.
For each segment, the market sizing and forecasts are provided in terms of value (USD).
Resin Type | |
Acrylic | |
Epoxy | |
Polyester | |
Polyurethane | |
Epoxy-Polyester | |
Other Resin Types (Polyvinyl Chloride, Polyolefins,etc.) |
End-user Industry | |
Architecture and Decorative | |
Automotive | |
Industrial | |
Other End-user Industries (Furniture, Appliances, etc.) |
Geography | |
United States | |
Canada | |
Mexico |
North America Powder Coatings Market Size Summary
The North American powder coatings market is poised for steady growth, driven by increasing demand in the automotive and construction sectors. The market experienced a downturn due to the COVID-19 pandemic, which impacted industries like automotive and construction in the United States, Canada, and Mexico. However, it has shown resilience and is on a recovery path, with the United States expected to lead the market due to its robust automotive and construction industries. The use of powder coatings in automotive applications, particularly epoxy resin-based coatings for metal bodies, is a significant growth driver. Additionally, government initiatives and the eco-friendly nature of powder coatings, which offer recycling benefits, are further propelling market expansion. Despite challenges such as the difficulty in achieving thin film applications, new methods of application are anticipated to create additional opportunities.
The construction industry in the United States, the largest in North America, is a major contributor to the powder coatings market's growth. The sector's expansion, reflected in increased residential and non-residential construction spending, is expected to boost the demand for powder coatings. The automotive industry also plays a crucial role, with significant production increases in the United States, Canada, and Mexico, driven by the rising demand for electric vehicles. This growth in automotive manufacturing is anticipated to further stimulate the powder coatings market. The market is characterized by its fragmented nature, with key players like Akzo Nobel N.V., Jotun, PPG Industries, Inc., RPM International Inc., and The Sherwin-Williams Company actively investing in capacity expansions and new product developments to meet the growing demand.
North America Powder Coatings Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Drivers
-
1.1.1 The Increasing Usage of Powder Coatings in Automotive Industry
-
1.1.2 The Favorable Government Initiatives Promoting the Use of Powder Coatings
-
1.1.3 Recycling Property of Powder Coatings
-
-
1.2 Restraints
-
1.2.1 Difficulty in Obtaining Thin Film of Powder Coating
-
1.2.2 Other Restraints
-
-
1.3 Industry Value-Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Buyers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION (Market Size in Value)
-
2.1 Resin Type
-
2.1.1 Acrylic
-
2.1.2 Epoxy
-
2.1.3 Polyester
-
2.1.4 Polyurethane
-
2.1.5 Epoxy-Polyester
-
2.1.6 Other Resin Types (Polyvinyl Chloride, Polyolefins,etc.)
-
-
2.2 End-user Industry
-
2.2.1 Architecture and Decorative
-
2.2.2 Automotive
-
2.2.3 Industrial
-
2.2.4 Other End-user Industries (Furniture, Appliances, etc.)
-
-
2.3 Geography
-
2.3.1 United States
-
2.3.2 Canada
-
2.3.3 Mexico
-
-
North America Powder Coatings Market Size FAQs
How big is the North America Powder Coatings Market?
The North America Powder Coatings Market size is expected to reach USD 1.57 billion in 2024 and grow at a CAGR of 4% to reach USD 1.91 billion by 2029.
What is the current North America Powder Coatings Market size?
In 2024, the North America Powder Coatings Market size is expected to reach USD 1.57 billion.