A recent study by MarketsandMarkets revealed a surge in the global metallic powder coatings market, projected to reach $3.3 billion by 2025, from $2.3 billion in 2020, marking a compound annual growth rate (CAGR) of 7.5% during the forecast period.
The growth is primarily fueled by the increasing demand for metallic pigments within the architectural and automotive industries, coupled with a substantial market for wheel coatings in both organized and unorganized sectors. Despite facing challenges such as the high cost of metallic powder coatings in a price-sensitive market, the industry sees significant opportunities in the development of advanced materials and new compositions for wheels.
Market leaders identified in the study, such as AkzoNobel N.V., Axalta Coating Systems, LLC, Jotun A/S, PPG Industries, The Sherwin-Williams Company and Tiger Coatings GmbH & Co. KG, are at the forefront of innovation in this space. These companies are continuously exploring new formulations and applications for metallic powder coatings, offering a range of finishes from opaque and prismatic to metallic, tints and clear.
One of the groundbreaking advancements in this market is the introduction of UV cured powder coatings, which offer a new finishing opportunity for the wood coatings market, with their solid metal and metallic effect finishes. Unlike traditional metallic liquid finishing, which requires long drying times and multiple coats, UV metallic powder coatings achieve proper coverage and hiding more efficiently. This technology is particularly beneficial for medium-density fiberboard (MDF) materials, providing unique finishing solutions with solid metals of gold, bronze, dark silver and bright silver.
The Asia Pacific region is leading the charge in the consumption and production of metallic powder coatings, driven by high demand from end-use industries such as architectural, appliances and automotive. Countries like China, Japan, India, Indonesia, Malaysia and the Philippines are experiencing a construction boom, with a focus on new residential and commercial buildings, further fueling the market's growth.
Architectural applications dominate the consumption of metallic powder coatings, both in terms of volume and value, due to their durability and the availability of diverse finishes and colors. These coatings are especially designed for architectural use, suitable for both exterior and interior applications on aluminum and steel, offering excellent chemical resistance, durability, mechanical performance and a sustainable alternative to liquid PVDF and anodized finishes.
