Low Temperature Coatings Market - Global Industry Analysis, Size, Share, Growth 2024 | Research Report

Low-temperature coatings are coatings that are designed to provide protection against corrosion at lower temperatures. These coatings cannot withstand high temperature. They are basically a synthetic catalyst with self-cross linked, super-weathering resistant resin as a carrier. They are specifically useful for operating at low temperatures. These coatings increase the adhesiveness of a coating and strengthen its rate of action.

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Demand for low-temperature coatings has been increasing across various applications with the growing trend toward reducing the process and curing temperatures. This is expected to act as a major driver for the market. Low-temperature coatings have the ability to cure down to 0°C (32°F). These are two-component epoxy coatings, which are specially used for different applications in cold climate. The actual performance and flexibility of low-temperature coatings are observed only at low temperatures.

Powder coating is one type of low-temperature coating that is primarily used for industrial purpose. Polyurethanes, epoxies, and tungsten carbide are used for developing low-temperature coatings. There are several other raw materials that are employed for developing of low-temperature coatings. Now-a-days, companies are conducting vigorous research to develop coatings with better adhesion and corrosion protection.

Constant upgrade has been carried out by various manufacturers for strengthening their position in the market. Presently, manufacturers are facing major challenges, due to changes in designs of working in different companies. High investment and funding are required for development of low-temperature coatings, especially in unique forms such as nano-coatings and self-healing, low-temperature coatings.

Based on application, the low-temperature coatings market can be segmented into three major segments viz. architecture, oil & gas, and consumer goods. In the oil & gas industry, low-temperature coatings are employed for coating the oil and gas pipelines to prevent corrosion of their inner part. According to the surrounding where a pipeline is placed (underwater, underground, or above the ground), a coating is formulated to provide internal as well as external, long-term durability.

Low-temperature coatings are also applied on wheels, grills, bumpers, doors, and exterior automotive parts. The architecture segment held a major share of the low-temperature coatings market in 2015, and is anticipated to expand at a rapid pace during the forecast period. Growing construction industry in developing countries in Asia Pacific such as China and India is anticipated to boost the demand for low-temperature coatings in the region. Various regulations imposed by organizations such as REACH and RoHS regarding VOC emissions are anticipated to increase the demand for low-temperature coatings in different industries.

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Based on region, the global low-temperature coatings market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a major share of the global low-temperature coatings market in terms of volume in 2015, followed by Europe and Asia Pacific. Since North America and Europe are regions with low temperature, these coatings are used to a great extent in these regions.

The U.S., France, and Germany are among the top countries engaged in the research and development of low-temperature coatings. However, the strict regulatory scenario in North America is restraining the growth of the low-temperature coatings market in the region. Manufacturers of low-temperature coatings in North America are making efforts to develop more eco-friendly products and reduce the potential health hazards.

Key manufacturers of low-temperature coatings across the globe are E. I. DuPont de Nemours and Company, PPG Industries Inc., The Valspar Corporation, Axalta Coating Systems, Bowers Industrial, Tulip Paints, Platinum Phase SDN BHD, VITRACOAT America Inc., Forrest Technical Coatings, and Specialty Polymer Coatings Inc.

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