Global Low Temperature Powder Coatings Markets Report 2020-2025

DUBLIN, Dec. 7, 2020 /PRNewswire/ -- The "Low Temperature Powder Coatings Market by Substrate (Non-metal, Metal), Resin (Polyester, Epoxy, Hybrid), End-use Industry (Furniture, Appliances, Automotive, Retail, Medical), & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Low-Temperature Powder Coatings Market is Projected to Grow from USD 3.4 Million in 2020 to USD 3.9 Million by 2025, at a CAGR of 3.2%

The market is majorly driven by increased demand from the furniture industry. The increase in energy savings due to a reduction in cure temperatures, growing end-use industries, and technological advancements are driving the low-temperature powder coatings market.

The non-metal substrate segment is expected to hold the largest share of the overall low-temperature powder coatings market during the forecast period.

The non-metal substrate segment accounted for the largest share of the overall low-temperature powder coatings market in 2019. This growth can be attributed to the rapidly expanding functional range of powders, beyond traditional metal product finishing, on non-metallic substrates such as wood, MDF, plastics, glass, and composites. In Europe, where the furniture industry is growing, there is high demand for low-temperature powder coatings.

The hybrid resin segment is expected to hold the largest share of the overall low-temperature powder coatings market during the forecast period.

The hybrid resin segment accounted for the largest share of the overall low-temperature powder coatings market in 2019. These types of reins fills a large niche in the coating market. Because of the epoxy content, hybrids are relegated to indoor applications, but the addition of a significant polyester content gives this chemistry very good color stability in the curing process. Hybrid's low cost, stable color, and relatively good film performance make them a natural choice for a multitude of indoor applications.

The low-temperature powder coatings market in the furniture end-use industry is expected to hold the largest share during the forecast period.

The furniture industry accounted for the largest share, in terms of value, of the low-temperature powder coatings market in 2019. Temperature-sensitive components such as MDF and wood have always created a hindrance in the industrial finishing of assembled parts. The coating used must offer a consistent cure range which should not damage sensitive components. These coatings are best suitable for such substrates, as they provide enhanced performance without compromising the functionality of the part.

Europe low-temperature powder coatings market is estimated to register the highest CAGR during the forecast period.

Europe has emerged as the leading consumer and producer of low-temperature powder coatings. It is also the fastest-growing low-temperature powder coatings market due to the high demand from end-use industries such as furniture, appliances, and automotive. Over the past few years, the furniture, appliances, and automotive industries in the region have witnessed significant developments, due to which the demand for low-temperature powder coatings is estimated to increase substantially.

Market Dynamics

Drivers

• Increase in Energy Savings Due to Reduction in Cure Temperature

Restraints

• High Priced Product in a Price-Competitive Market
• Difficulty of Maintaining Storage-Stability while Enabling Low-Temperature Curing
• Requires Refrigerated Storage or Transport to Extend Shelf Life

Opportunities

• Low-Temperature Coatings Suitable for Temperature-Sensitive Components
• Increasing Demand for Composites in Automotive and Aerospace Industries
• Technological Advancements

Challenges

• High Humidity and Complex Shape of Substrates Affecting Performance of Coatings
• Mdf is Mature Product in Developed Regions

Technology Analysis

Porter's Five Forces Analysis

Company Profiles

• Akzonobel N.V.
• Arsonsisi Technological Coatings
• Axalta Coating Systems LLC
• Cin Industrial Coatings
• IGP Pulvertechnik Ag
• Jotun A/S
• Keyland Polymer Materials Sciences
• Platinum Phase Sdn Bhd
• PPG Industries
• Protech-Oxyplast Group
• Sherwin-Williams Company
• Teknos Group
• Tiger Coatings GmbH & Co. Kg
• Tulip Paints

For more information about this report visit https://www.researchandmarkets.com/r/1uq5v4

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