Global Low Temperature Coating Market By Coating Type (Powder-Based, Liquid-Based), By Resin Type (Polyester, Polyurethane, Epoxy, Acrylic) end Use (Automotive, Heavy-Duty Equipment, Industrial, Architectural, Furniture) Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) - Industry Trends and Forecast to 2024
Market Analysis: Global Low Temperature Coating Market
Global low temperature coating market is set to witness a substantial CAGR of 8.0% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed due to their eco-friendly nature as they will reduce the risk of volatile organic compound emissions into the atmosphere.
Market Definition: Global Low Temperature Coating Market
Low temperature coating is also known as low cure coating which is widely used to apply coatings to valves, pipes, fittings, welds. They are mostly used in cold temperature conditions as they have the ability to cure down to 0°C. They are used in many end user industries like automotive, constructions and heavy duty equipment’s.
- The use of environment friendly coating is driving the growth of the market
- The growth in the end use industries is likely to expand the market
- The increase in energy savings due to reduction in cure temperatures is boosting the growth of the market
- The healthy growth in automotive industry will drive the growth of the market
- Not suitable for thin film application which is restraining the market growth
- The longer and costlier drying and curing for large parts is hindering the growth of the market
Segmentation: Global Low Temperature Coating Market
By Coating Type
- Thermoset Powders
By Resin Type
By Sunstrate Type
- Non Metal
- Wood and Medium-Density Fibreboard (MDF)
- Plastics, Composites, & Glass
By End User
- Heavy-Duty Equipment
- Oil and Gas
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In May 2019, Axalta Coating Systems, which is a leading supplier of powder and liquid coatings globally, received the Ducks Unlimited Corporate Conservation Achievement Award in the 82nd Annual National Convention which was held in Hawaii. These types of prestigious awards would trigger the company’s recognition.
- In April 2018, Axalta Coatings Systems Ltd. has inaugurated new coating manufacturing plant in India. The newly installed plant will tend to double the coating manufacturing capacity Axalta so that it can meet the growing demand in the various industry verticals like automotive etc.
Global low temperature coating market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of customer of low temperature coating market for global, Europe, North America, Asia Pacific and South America, Middle East and Africa
Major Market Competitors/Players
Few of the major competitors currently working in the low temperature coating market are PPG Industries Inc., DuPont de Nemours Inc., Valspar, Axalta Coatings Systems Ltd., Vitracoat America, FORREST Technical Coatings, Specialty Polymer Coatings Inc., Bowers Industrial Inc., Phygen Coatings Inc., michelman inc., RPM International Inc., Cipy Polyurethanes Pvt. Ltd., VCM Polyurethanes Pvt. Ltd., Flowcrete Group Ltd., Akzo Nobel N.V., The Sherwin-williams Company, NIPPON PAINT Co. Ltd., Kansai Paint Co. Ltd. APV Engineered Coatings, Rawlins Paint Limited, Hydromer, among others
Research Methodology: Global Low Temperature Coating Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved