Delray Beach – September 11, 2026 -- The global appliance powder coatings market is set to expand from $4.63 billion in 2026 to $6.93 billion by 2031, growing at a compound annual rate of 8.42%, according to a new forecast from MarketsandMarkets.
Asia Pacific commands nearly two-thirds of global market value
Asia Pacific accounted for 63.9% of the appliance powder coatings market by value in 2025, the dominant regional force driven by rising output of refrigerators, washing machines, ovens and air conditioners in emerging economies. Europe held the second-largest share, underpinned by an established appliance manufacturing base, stringent VOC emission regulations, and investment in automated coating processes.
Thermoset resins to outpace overall market growth through 2031
The thermoset segment is projected to grow at 8.55% CAGR between 2026 and 2031, exceeding the market's overall expansion rate. Thermoplastic coatings held the second-largest resin share in 2025, favored for impact resistance, flexibility and moisture protection on appliance components.
Manufacturers shift spend toward low-VOC, low-temperature curing formulations
Producers are directing capital toward low-temperature curing technologies, energy-efficient coating processes and regional production facilities to strengthen supply networks. The report identifies a revenue shift away from conventional standard-grade coatings toward higher-value formulations offering improved corrosion resistance, high-gloss finishes and reduced environmental impact, while legacy powder coating products face comparatively slower value growth.
Consolidation activity intensifies as coating makers chase formulation technology
Mergers and acquisitions in the sector rose between 2021 and 2026 as manufacturers pursued durable, low-emission and high-performance coating technologies to broaden product portfolios and expand regional presence. Akzo Nobel N.V., PPG Industries and Axalta Coating Systems are named as leading players with strong market presence and extensive product portfolios, alongside The Sherwin-Williams Company, Kansai Paint, Jotun, Asian Paints, Nippon Paint Holdings, RPM International and Protech Group. Emerging players including Pulver Inc. of Turkey, KCC Corporation of South Korea and IFS Coatings of the US have secured positions in specialized niche segments.