Global Low Temperature Powder Coatings Market Size To Worth USD 140.2 Million by 2032 | CAGR of 5.4%

Global Low Temperature Powder Coatings Market Size Worth USD 140.2 Million By 2032

According to a research report published by Spherical Insights & Consulting, the Global Low Temperature Powder Coatings Market Size to Grow from USD 105.6 Million in 2022 to USD 140.2 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period.

Browse key industry insights spread across 200 pages with 130 Market data tables and figures & charts from the report on "Global Low Temperature Powder Coatings Market Size, Share, and COVID-19 Impact Analysis, By Resin (Hybrid, Polyester, Epoxy, and Others); By Substrate (Metal, Non Metal); By End-Use (Furniture, Automotive, Electronics, Medical, Retail, Appliances, Consumer Goods, Others), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032" Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/low-temperature-powder-coatings-market

Low temperature powder coatings are a type of coating material that may be applied to several different surfaces at temperatures lower than those required for standard powder coatings. Powder coatings are often applied using fluidized bed or electrostatic spraying techniques, and then heated to create a tough, attractive surface. On the other hand, low temperature powder coatings have the advantage of being able to cure at lower temperatures, making them suitable for substrates that are heat-sensitive.

COVID 19 Impact

The COVID-19 epidemic had a major impact on the world market for low temperature powder coatings. In actuality, the market has faced several difficulties in the form of supply chain disruption, a halt to business operations, and the acquisition of raw materials. In response to the severity of the epidemic, the market leaders have modified their present operating strategies. For instance, the severe impact of the pandemic, as reported in Akzo Nobel's COVID-19 reaction report issued in June 2020, caused the company's sales to decline by -5% during the first quarter. Additionally, as a result of the rising production of consumer electronics and autos, the need for low temperature powder coatings increased by the end of 2020. The industry is also expected to experience substantial demand as consumer electronics and car production grow in the future years.

An important factor driving the growth of the global low temperature powder coatings market is the increase in interest among various end user industries across the board for powder coatings due to their numerous benefits, including single coat durability, low energy consumption, zero VOC formulas, great coating transfer efficiency, and better efficiency. Additionally, many end users are quickly switching from conventional coating systems to low cure powder coatings because they may increase productivity by lowering the energy costs associated with heating the substrate. Additionally, various developing nations around the world, including India, South Korea, China, and Brazil, are putting in place various types of legislation to control VOC emissions in order to reduce pollution, which has led to an increase in the demand for low temperature powder coatings and will spur the growth of the global low temperature powder coatings market over the course of the forecast period.

It is quite challenging to reach out to customers with a new product whose market price is higher than the present pricing in such a price-competitive market. Due to their higher cost compared to liquid coatings, which are already on the market and ruling the global low temperature powder coatings market, the same market situation applies to low temperature powder coatings. Protecting such coatings' efficacy in hot conditions is the key concern of end users of low temperature powder coatings. The presence of moisture inhibits the adherence of powder to surfaces and causes clumping.

Market Segmentation

Resin Insights

Polyester segment holds the highest market share over the forecast period

On the basis of resin, the global low temperature powder coatings market is segmented into hybrid, polyester, epoxy, and others. Among these, polyester resin segment holds the highest market share over the forecast period. This market is expanding primarily as a result of its many advantageous qualities, including greater surface protection, rapid recovery, chemical resistance, temperature resistance, and resistance to abrasion. The enormous rise in demand for items like radiator grills, door handles, bicycles, wheel aims, and metallic structural components is another factor that is propelling this segment's total expansion throughout the projection period.

Epoxy resin segment, on the other hand is witnessing the fastest market growth over the forecast period. The increase is ascribed to its several qualities, including hardness, flexibility, affordability compared to others, and weather resistance. The worldwide low temperature coatings market will expand as a result of the rising use of these products in interior applications such furniture coatings to provide an attractive appearance and design.

Substrate Insights

Non metallic segment is dominating the market over the forecast period

On the basis of substrate insights, the global low temperature powder coatings market is segmented into metal and non metal. Among these, non metallic segment is dominating the market with the largest market share over the forecast period. Due to its ability to provide greater toughness, higher resistance, and longer lifetime, low temperature powder coatings are increasingly being used in a variety of non-metallic applications, such as plastics and furniture. This is what is driving the market's growth. Additionally, the global market for low temperature powder coatings is expanding due to an increase in consumer buying power and a fast rise in global population.

On the other hand, the metal segment is anticipated to experience significant growth over the forecast period as a result of rising demand for automobiles, such as cars and commercial vehicles, in developing countries like China, India, Malaysia, and Brazil as well as an increase in the number of powder coating applications on various vehicle parts. Additionally, a number of manufacturers have begun coating numerous car elements, including the radiator, shock absorbers, engine block, wheels, and mirror frames. The market's segmented expansion will be fueled by all of these reasons.

End Use Insights

Consumer goods segment is dominating the market over the forecast period

Based on end use, the global low temperature powder coatings market is segmented into furniture, automotive, electronics, medical, retail, appliances, consumer goods, and others. Among these, the consumer goods segment is dominating the market with the largest market share over the forecast period. The primary drivers of segmental expansion are rising consumer living standards, increased urbanisation, and rising buying power of the populace. Low temperature power coatings are extensively utilised in a range of consumer items due to the lack of any type of solvent, ease of compliance with environmental regulations, and increased flexibility. Increased usage of these items is envisaged in the near future.

On the other hand, the automotive sector is predicted to see the quickest market growth throughout the forecast period. The expansion is due to rising car manufacturing in countries like Brazil, Argentina, Mexico, the United States, and China as well as a sharp increase in commercial vehicle sales.

Regional Insights

Asia Pacific is dominating the market with the largest market share over the forecast period

Asia Pacific is dominating the market with the largest market share over the forecast period. The regional market is growing as a result of significant infrastructure development and an increase in the use of powder coatings in architectural applications such aluminium extrusions used in doorframes, kitchen windows and building facades. The rising urbanisation of developing countries like China and India is also anticipated to have a positive impact on the growth of the local sector.

On the other hand, North America is predicted to have the fastest market expansion during the forecast period as a result of a significant rise in the use of powder coating in the automotive industry and an increase in the production of automobiles in Mexico. The market's growth is also being fueled by the rising customer preference for attractive goods and the expanding usage of powder coatings to enhance the design, look, and durability of various interior products, including furniture products.

Major vendors in the Global Low Temperature Powder Coatings Market include 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.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global UV Stabilizers Market based on the below-mentioned segments:

Low Temperature Powder Coatings Market, Resin Analysis

• Hybrid
• Polyester
• Epoxy
• Others

Low Temperature Powder Coatings Market, Substrate Analysis

• Metal
• Non Metal

Low Temperature Powder Coatings Market, Application Analysis

• Metal
• Plastic

Low Temperature Powder Coatings Market, End Use

• Furniture
• Automotive
• Electronics
• Medical
• Retail
• Appliances
• Consumer Goods
• Others

Low Temperature Powder Coatings Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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