Exploring the Vast Potential of the Low Temperature Powder Coatings Market || PPG Industries, AkzoNobel NV, Axalta Coating Systems, Jotun A/S, Teknos Group

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Low Temperature Powder Coatings Global Market Report 2023 identifies increase in the need for lower curing temperatures and less curing time is the major driver for the low temperature powder coatings market's growth in the forecast period. For instance, most powder coating such as thermoset powders cures at a temperature of 390 °F (200 °C) for 10 to 15 minutes or 10 to 30 minutes. According to Teknos, the curing temperature for polyester-based powder coatings is 160 °C for 10 minutes, and for Epoxy polyester-based powder coating is 145 °C for 10 minutes. The difference in curing temperature and time between normal powder coating and a low-temperature powder coating is around 40 °C to 65 °C and a time difference of 5 to 6 minutes.

The global low temperature powder coatings market size grew from $2.6 million in 2022 to $2.8 million in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global low temperature powder coatings market size is expected to grow to $3.4 million in 2027 at a CAGR of 5.3%.

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Major competitors in the low-temperature powder coatings market are PPG Industries, AkzoNobel NV, Axalta Coating Systems, Jotun A/S, Teknos Group, Tulip Paints, Protech Powder Coatings, Platinum Phase SDN, CIN Industrial Coatings.

A key trend in the low temperature powder coatings market introducing developing advanced bio-based powder coating technologies. Companies in low temperature powder coating market are focusing on developing advanced bio-based powder coating technologies that can be used in multiple powder coating systems. For instance, Allnex, a global producer of industrial coating resins developed a product line based on renewable monomers derived from C5 and C6 sugars that are bio based carboxyl polyesters and can be used in a variety of powder coating systems, including epoxy-polyester hybrids, polyester-HAA (hydroxyl-alkyl amide), and TGIC-cured formulas.

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The low temperature powder coatings market is segmented -

1) By Resin: Acrylic, Polyurethane, Polyester & Polyester Hybirds, Epoxy & Epoxy Hybirds, Other Resins

2) By Substrate Type: Non-Metal, Metal

3) By End-Use Industry: Furniture, Appliances, Automotive, Architectural, Retail, Electronics, Medical, Other End-Use Industries

4) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the low temperature powder coatings market share

The Business Research Company's "Global Low Temperature Powder Coatings Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Low Temperature Powder Coatings Market Include:
1. Executive Summary
2. Low Temperature Powder Coatings Market Characteristic
3. Low Temperature Powder Coatings Market Trends And Strategies
4. Low Temperature Powder Coatings Market - Macro Economic Scenario
5. Low Temperature Powder Coatings Market Size And Growth
……………
27. Low Temperature Powder Coatings Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Low Temperature Powder Coatings Market
29. Low Temperature Powder Coatings Market Future Outlook And Potential Analysis
30. Appendix

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