Chan Ye Xin Xi Wang·2025-12-29 01:13Core Insights - The thermosetting powder coating market is dominated by thermosetting powder coatings, which are expected to account for over 98% of sales in 2024, while thermoplastic powder coatings have a relatively narrow application scope [1][6] Group 1: Market Overview - The sales volume of thermosetting powder coatings in China is projected to reach approximately 2.65 million tons in 2024, reflecting a year-on-year growth of 6.6% [1][6] - The market size for thermosetting powder coatings in China is expected to reach 48.76 billion yuan in 2024, with a year-on-year increase of 1.7%, primarily due to a decline in product prices [1][9] - The industry is still in a growth phase, but the era of extensive growth has largely ended [1][6] Group 2: Product Structure - In 2024, the composition of thermosetting powder coatings by resin type is as follows: pure epoxy powder coatings (19.2%), epoxy/polyester hybrid powder coatings (20.5%), polyester/TGIC powder coatings (35.1%), and polyester/HAA powder coatings (24.3%) [1][8] - The shift in product composition is mainly influenced by cost factors, with pure polyester systems increasingly replacing other conventional systems [1][8] Group 3: Application Structure - The application distribution of thermosetting powder coatings in 2024 is as follows: building materials (including HVAC) 27.2%, general industrial coatings 22.3%, household appliances 18.8%, functional coatings (anti-corrosion) 9.5%, agricultural machinery and automotive 9.4%, furniture 8.9%, and 3C products 3.9% [1][9] Group 4: Industry Competition - The thermosetting powder coating market is characterized by intense competition and low industry concentration, primarily due to low entry barriers and a large number of small and medium-sized enterprises [1][10] - Leading companies such as AkzoNobel, PPG, and Wan'an Industrial leverage their advantages in capital, technology, brand, resources, and services to expand market share [1][10] - Second-tier companies like Aigema New Materials and Huacai New Materials are also accelerating their growth and building competitive advantages [1][10] Group 5: Future Trends - The thermosetting powder coating industry is expected to evolve towards low-temperature curing, thin coating technology, high decorative properties, and multifunctionality [1][11] - The market is anticipated to see increased penetration in emerging fields such as renewable energy and 5G communication [1][11] - The industry is undergoing a significant transformation, facing challenges such as overcapacity and price wars, which may lead to a market reshuffle and increased concentration [1][11]