Low Temperature Powder Coatings Market worth $116 million by 2027 | Key players PPG Industries Inc. (US), Sherwin-Williams Company (US), Axalta coating system (US).

According to recent market research the "Low Temperature Powder Coatings Market by Substrate (Metal, Non-metal), Resin (Hybrid, Polyester, Epoxy), and End-Use (Furniture, Appliances, Automotive, Medical, Retail, Electronics), and Region - Global Forecast to 2027", Low temperature powder coatings market size is projected to reach USD 116 million by 2027 from USD 97 million in 2021 growing at a CAGR of 3.0%. The low temperature powder coatings technology continues to develop, it is expected to substitute the existing coating technologies. The global market for low temperature powder coatings is anticipated to increase because of the increasing application of low temperature powder coating in a variety of end use industries, including automotive and electronics. For the surface finishing of aluminium and steel products, such as site furnishings, MDF furniture, and garden furniture, low temperature powder coating is in high demand in the furniture industry.

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Based on resin type, The hybrid segment is projected to be the largest resin type during the forecast period. Low temperature powder coatings based on hybrid resin has good physical properties with high-performance features along with low cure temperature for coating applications in the furniture, automotive, electronics, retail, and other industries.

Based on end - use, furniture segment is estimated to account for the largest share of the market during the forecast period. The growth of the infrastructure sector and the development of the furniture industry in the Asia Pacific region are expected to boost the low temperature powder coatings market in the region. China and India are likely to generate a positive impact on the market in the furniture end-use industry.

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Asia Pacific is the fastest-growing market for low temperature powder coatings mainly due to the high economic growth, and heavy investment in industries such as automotive, electronics, and furniture. PPG Industries Inc. (US), Sherwin-Williams Company (US), AkzoNobel N.V. (Netherlands) and other leading global players are adopting various strategies to increase their market share in the global low temperature powder coatings market.

Major players operating in the global low temperature powder coatings market include PPG Industries Inc. (US), Sherwin-Williams Company (US), Axalta coating system (US).

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PPG Industries is a global manufacturer and supplier of paints, coatings, optical products, and specialty materials. It serves customers in the industrial, consumer products, transportation, and construction markets. PPG provides industrial and automotive coatings to manufacturing companies, adhesives & sealants to the automotive industry, metal pretreatments & related chemicals for industrial and automotive applications, and packaging coatings to aerosol, food & beverage container manufacturers. The company also delivers protective coating solutions for a wide range of industries. It. operates through two major segments: Performance Coatings and Industrial Coatings. The company offers low temperature powder coatings through the Industrial Coatings segment. It has 156 manufacturing facilities worldwide.

Sherwin-Williams Company is one of the global leaders in the manufacture, development, distribution, and sale of paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through three main divisions: Consumer Brands Group, The Americas Group, and Performance Coatings Group. The company offers low temperature powder coatings through the Performance Coatings Group segment. The company serves a wide range of markets furniture, appliance, and electronics. It has a presence in more than 120 countries, primarily in Europe, Asia Pacific, and North America.

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