Powder coating is a safer finish to metals than just painting. Powder coating does not chip or rust over time so you do not have to worry about children or animals swallowing paint chips.
Economically, it is safer than paint as well. Wet paint lets off organic compounds that affect the ozone. The powder used in powder coating does not pollute the air like wet paint does. The powder is added in a powder spray booth that does not allow it to spread into the air.
Wet paint is not reusable where powder is. When the powder is sprayed, most of it is not applied to the product. You can reuse the powder since it will not be permanent until the part is baked.