Powders for powder coating will vary as much as paint will from different manufacturers. They use slightly different binders and pigments and possibly in different ratios. Different pigments (not dyes) will also have different effects on the composition as they are literally different chemicals in order to give different colours. The quality of the binder (the plastic that melts), purity, water content, and other factors all change how it works. There are also different types of plastics used or additives added to the powder by the manufacturers.
For example many powder coat paints contain TGIC (TRIGLYCIDYLISOCYANURATE) which is toxic. You might see the "cyanu" in the name which means it contains a form of cyanide. This additive makes the paint more durable from my understanding but is toxic (for more reasons than just the cyanide). There are countless other additives that companies put in powder coat media for various reasons such as resistance to salt, UV resistance, durability, and every other thing you can think of. This makes each one slightly different even from the same manufacturer.
For example many powder coat paints contain TGIC (TRIGLYCIDYLISOCYANURATE) which is toxic. You might see the "cyanu" in the name which means it contains a form of cyanide. This additive makes the paint more durable from my understanding but is toxic (for more reasons than just the cyanide). There are countless other additives that companies put in powder coat media for various reasons such as resistance to salt, UV resistance, durability, and every other thing you can think of. This makes each one slightly different even from the same manufacturer.