Our entire trailer is powder coated to 5 to 6 mil thick. Had 1 coat of primer, then 2 of yellow color then 3 coats of clear coats. The only problem is that if it chips, you cannot fix it to look like new unlike paint can. Coat for Coat, Paint is thinner.
Also, just not any paint will adhere to the powder coat. We do have touch up spray paint. It cost us $16 per can, plus tax. However it is a perfect match. It appears to be a lacquer base paint, though I am not certain.
In years past, we had the trailers just painted as everyone else. They seem to last about 3-5 years before the high gloss starts to fade, and the paint dose not "feel as new".
The other trailer we sold was powder coated in 2002/2003, the gloss is still very actively glossy and the finish feels thick. You touch the powder coat and if feels " Thicker" than an average painted trailer.
In my opinion, if you have access to an oven big enough for the trailer, coat for coat, Powder Coating is the way to go.