Low temperature powder coatings market Valued $6.02 billion by 2026 | A report by PRISMATIC POWDERS, Funder America Inc. and Keyland Polymer and more

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.

Market Analysis:
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.

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Key Competitors:
1. Teknos Group
2. Tulip Paints
3. Protech Powder Coatings
4. PPG Industries
5. Akzo Nobel N.V.
6. The Sherwin-Williams Company
7. Jotun, Axalta Coating Systems LLC
8. BASF SE
9. DuPont
10. Koninklijke DSM N.V.

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 specialized solutions and products in the region.

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Market Drivers & Restraints:
• 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:
By Substrate Type
• Non-Metal
• Metal

By Resin Chemistry
• Acrylic
• Polyurethane
• Polyester & Polyester Hybrids
• Epoxy & Epoxy Hybrids
• Others

By End-Use Industry
• Automotive
• Medical
• Appliances
• Furniture
• Electronics
• Architectural
• Retail
• Others

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This release was published on openPR.