Powder coating basically is pulverized plastic, which is a dry powder. Unlike conventional liquid paint, which is delivered via an evaporating solvent, powder coating is typically applied electrostatically and then cured under heat. It is usually used to create a hard finish that is tougher than conventional paint. Also unlike liquid paint, it doesn't need to dry. Once it cools from being cured, it is ready to handle.
Powder coating provides better performance than wet paint – it is more resistant to chipping, scratching and other wear because of the thermal bonding it undergoes during curing and because it can be applied in much thicker layers.