Industry Background:
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.
According to AMA Research, the market for Low Temperature Powder Coatings is expected to register a CAGR of 5.9% during the forecast period to 2027. This growth is primarily driven by Increasing end use industries such as automobile and furniture industry
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | N |
Value Unit | Value (USD Million) |
Key Companies in Study | 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) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Globally, a noticeable market trend is evident Augmented furniture industry expenditure. Major Vendors, such as 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) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.
Regulatory Insights:
Technological advancements is coating process is providing opportunity to the low Temperature powder coating Because of it’s the excellent physical properties
Market Drivers
- Increasing end use industries such as automobile and furniture industry
- Physical properties such as good adhesive ability and good wear resistance offers greater coatings hence it is widely used in number of Industries
Market Trend
- Augmented furniture industry expenditure
Restraints
- Availability of other coatings as substitutes may restraining the market
Challenges
High Lead times for custom coatings and colour changes during process, High time requirement for curing and drying and Greater start-up costs
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Low Temperature Powder Coatings Study Sheds Light on
The Low Temperature Powder Coatings Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Low Temperature Powder Coatings industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Low Temperature Powder Coatings industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.