Global Low Temperature Powder Coatings Market By Substrate Type (Non-Metal, Metal), Resin Chemistry (Acrylic, Polyurethane, Polyester & Polyester Hybrids, Epoxy & Epoxy Hybrids, Others), End-Use Industry (Automotive, Medical, Appliances, Furniture, Electronics, Architectural, Retail, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Low Temperature Powder Coatings Market
Global low temperature powder coatings market was valued at an estimated USD 3.74 billion in 2018; this value is projected to grow to an estimated USD 6.02 billion by 2026, registering a CAGR of 6.14% in the forecast period of 2019-2026. This growth of the market value can be attributed to the growth of the various end-users in the market resulting in growth of demand for the product.
Market Definition: Global Low Temperature Powder Coatings Market
Low temperature powder coatings are a variety of powder coatings that are used due to their cost effective characteristics which requires lower amount of heat to cure and effectively coat the substrate. Conventional powder coatings are applied electrostatically and then applied on to the substrates or surfaces and subsequently cured under heat, which is a very tedious and expensive process because of the requirement of high temperatures. The cured coatings form a hard, tough coating to the surface essentially acting as a protective layer.
- Cost-saving benefits associated with the usage of product due to ability of being cured at lower temperatures; this factor is expected to act as a driver for the market growth
- Rise in innovations and advancements in the market in relation to the product; this factor is expected to act as a driver for the market growth
- Intense competition from cheaper and equally affective alternatives in the market; this factor is expected to act as a restraint to the market growth
Segmentation: Global Low Temperature Powder Coatings Market
- By Substrate Type
- By Resin Chemistry
- Polyester & Polyester Hybrids
- Epoxy & Epoxy Hybrids
- By End-Use Industry
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In April 2018, Axalta Coating Systems LLC announced the inauguration of a new manufacturing plant situated in Gujarat, India; to meet the requirements of demand from the automotive industry and various other end-users for powder coatings.
- In February 2018, Akzo Nobel N.V. announced the inauguration and beginning of operations of its powder coatings plant in Mumbai, India. With this expansion, the company hopes to meet the demands and enhance their reputation of providing specialised solutions and products in the region.
Competitive Analysis: Global Low Temperature Powder Coatings Market
Global low temperature powder coatings 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 low temperature powder coatings market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Low Temperature Powder Coatings Market
Few of the major competitors currently working in the low temperature powder coatings are Teknos Group, Tulip Paints, Protech Powder Coatings Inc., PPG Industries Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Jotun, Axalta Coating Systems LLC, BASF SE, DuPont, Koninklijke DSM N.V., PRISMATIC POWDERS, Funder America Inc. and Keyland Polymer.
Research Methodology: Global Low Temperature Powder Coatings Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed 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 inquiry.
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