About Low Temperature Powder Coatings
Low temperature powder coatings does not contain solvent like volatile organic compounds further, it provides high thermal stability for temperature. Hence it is widely used in number of industries. The result of using low powder coatings for different industrial application offers minimal product waste. This coatings are able to provide prevention against abrasion, chipping, chemicals, corrosion, and weathering. Three-dimensional (3D) technology in coatings providing ease in the coating process hence, it is widely preferred for automobile and consumer goods industry. Advances in bio based low-temperature powder coating technologies provides growth opportunities for the market. For instance, Allnex has developed a line of bio based carboxyl polyesters based on renewable monomers derived from C5 and C6 sugars that can be used in a variety of powder coating systems, including epoxy-polyester hybrids, polyester-HAA (hydroxyl-alkyl amide), and TGIC-cured formulas. The rigorous regulations for the use of no VOC coatings leads to the demand for low temperature powder coatings. and Geographically, Asia pacific region is expected to grow with high growth rate followed by North America and Europe.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.9% |
There are various companies are operating in the market to provides low temperature powder coatings. Increased demand for industrial use is impacting on the demand for low temperature powder coatings in positive manner. Hence to grab the opportunity associated with the market, many new market players are entering to the market. The market leaders are investing on organic and non-organic strategic growth initiatives to become dominant in this industry. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Low Temperature Powder Coatings market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AkzoNobel N.V. (Netherlands), Jotun(Norway), The Sherwin-Williams Company (United States), PPG Industries (United States), Axalta Coating Systems (United States), Tiger Coatings GmbH (Austria), Rapid Engineering Co. Pvt. Ltd. (India), The Powder Coating Institute (United States), DSM (Netherlands), Fortunecoat Industries Pvt. Ltd. (India) and Allnex (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are RPM International (United States), Asian Paints (India) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Low Temperature Powder Coatings market by Type (Hybrids, Polyester, Epoxy and Others (Acrylic & polyurethane)) and Region.
On the basis of geography, the market of Low Temperature Powder Coatings has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Substrate, the sub-segment i.e. Metallic will boost the Low Temperature Powder Coatings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Automobile will boost the Low Temperature Powder Coatings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Augmented furniture industry expenditure
Market Growth Drivers:
Increasing end use industries such as automobile and furniture industry and Physical properties such as good adhesive ability and good wear resistance offers greater coatings hence it is widely used in number of Industries
Challenges:
High Lead times for custom coatings and colour changes during process, High time requirement for curing and drying and Greater start-up costs
Restraints:
Availability of other coatings as substitutes may restraining the market
Market Leaders and their expansionary development strategies
In February 2022 PPG Industries had announced the acquisition of Arsonsisi. PPG will be able to expand its powder coatings offering in Europe, the Middle East, and Africa (EMEA) region to include metallic bonding, which is one of the fastest growing markets for powder coatings and is frequently used in specialty finishes for automotive, appliance, and general industrial applications. The acquisition is in line with PPG's goal of having 40 percent of its sales from sustainably advantaged products by 2025.
In December 2021 Allnex had announced the launch of low-bake resin for the Agriculture & Construction Equipment (ACE) market. A low-bake application is essential for the ACE market. Applications involving thick steel substrates, such as tractors and truck beds, necessitate the use of a product that cures at a low temperature, because these steel pieces absorb heat slowly and must reach a certain temperature before curing can occur. The low-bake feature, combined with good flow and excellent flexibility, allows for proper cure while providing blooming and boiling water resistance.
Technological advancements is coating process is providing opportunity to the low Temperature powder coating Because of it’s the excellent physical properties
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Low Temperature Powder Coatings Manufacturers, Suppliers and Distributors, Government Regulatory, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.