Analysis on the development of global and Chinese powder coating industry in 2024-2029
Release time:
2024-08-23 15:17
The powder coating market in the Asia-Pacific region is concentrated in China. In recent years, driven by a series of environmental protection policies, China's powder coating production and sales have maintained rapid growth. Looking ahead, combined with the global powder coatings industry market size announced by Fortune Business Insights and the proportion of the powder coatings market size in the Asia-Pacific region disclosed by Chem Quest Powder Coating Research, preliminary statistics show that the market size of the powder coatings industry in the Asia-Pacific region will reach $7.34 billion in 2021.
The increasing emphasis on sustainability and environmental protection in Europe has boosted the consumer demand for powder coating products and the high-end development of products. Looking ahead, combined with the global powder coatings industry market size announced by Fortune Business Insights and the proportion of the powder coatings market size in Europe disclosed by Chem Quest Powder Coating Research, preliminary statistics show that the market size of the powder coatings industry in Europe in 2021 is about $2.38 billion, up 7.60 percent year-on-year.
From the perspective of the overall global coating market, according to the statistics of the Institute of Coating Data, the total global coating output has increased from 61.5 million tons to 93.5 million tons from 2015 to 2020. In 2020, due to the impact of the global new coronary pneumonia epidemic, the paint market production and sales in major regions of the world showed a decline, with total global paint production reaching 93.5 million tons in 2020, a decrease of 6.1 million tons year-on-year; total global paint production in 2021 increased by about 4% year-on-year to 97.24 million tons, basically returning to pre-epidemic levels.
According to the Insights statistics of Fortune Business, the market size of the global powder coating industry will be 12.04 billion US dollars in 2019, and will drop to 11.58 billion US dollars in 2020 due to the impact of the epidemic. In 2021, with the steady recovery of demand for powder coatings in vertical industries such as automobiles, building materials, electrical appliances and agriculture, the market size of the global powder coatings industry increased to 12.46 billion US dollars in 2021, up 7.60 percent year on year, returning to the pre-epidemic level.
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