MarketsandMarkets projects growth from $2.78 billion in 2026 at a 5.22% CAGR, with Asia Pacific leading in 2025 and thermoset resins expected to be the fastest-growing segment.
The automotive powder coatings market is projected to grow to USD 3.59 billion by 2031 from USD 2.78 billion in 2026, reflecting a CAGR of 5.22%, according to MarketsandMarkets. The firm said demand is being supported by rising vehicle and component production, increasing use of low-VOC and more sustainable coating solutions, and the need for durable, corrosion-resistant finishes that can improve efficiency and reduce production costs. Asia Pacific led the market in 2025 with a 56.2% share by value, passenger cars accounted for 77.6% of the market, and thermoset resins held the largest share in 2025 while also forecast to post the fastest growth at a 5.32% CAGR from 2026 to 2031. Key companies named include Sherwin-Williams, PPG Industries, Akzo Nobel, Jotun, Asian Paints, Kansai Paint, Nippon Paint, RPM International, Axalta Coating Systems and Protech Group.