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The low temperature powder coatings market is projected to grow from USD 3.4 million in 2020 to USD 3.9 million by 2025, at a CAGR of 3.2%, between 2020 and 2025. The market is majorly driven by increased demand from the furniture industry. The increase in energy savings due to a reduction in cure temperatures, growing end-use industries, and technological advancements are driving the low temperature powder coatings market.

The non-metal substrate segment is expected to hold the largest share of the overall low temperature powder coatings market during the forecast period.
The non-metal substrate segment accounted for the largest share of the overall low temperature powder coatings market in 2019. This growth can be attributed to the rapidly expanding functional range of powders, beyond traditional metal product finishing, on non-metallic substrates such as wood, MDF, plastics, glass, and composites. In Europe, where the furniture industry is growing, there is high demand for low temperature powder coatings.

The hybrid resin segment is expected to hold the largest share of the overall low temperature powder coatings market during the forecast period.
The hybrid resin segment accounted for the largest share of the overall low temperature powder coatings market in 2019. These types of reins fills a large niche in the coating market. Because of the epoxy content, hybrids are relegated to indoor applications, but the addition of a significant polyester content gives this chemistry very good color stability in the curing process. Hybrid’s low cost, stable color, and relatively good film performance make them a natural choice for a multitude of indoor applications.

The low temperature powder coatings market in the furniture end-use industry is expected to hold the largest share during the forecast period.
The furniture industry accounted for the largest share, in terms of value, of the low temperature powder coatings market in 2019. Temperature-sensitive components such as MDF and wood have always created a hindrance in the industrial finishing of assembled parts. The coating used must offer a consistent cure range which should not damage sensitive components. These coatings are best suitable for such substrates, as they provide enhanced performance without compromising the functionality of the part.

Europe low temperature powder coatings market is estimated to register the highest CAGR during the forecast period.
Europe has emerged as the leading consumer and producer of low temperature powder coatings. It is also the fastest-growing low temperature powder coatings market due to the high demand from end-use industries such as furniture, appliances, and automotive. Over the past few years, the furniture, appliances, and automotive industries in the region have witnessed significant developments, due to which the demand for low temperature powder coatings is estimated to increase substantially.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the low temperature powder coatings market, and information was gathered from secondary research to determine and verify the market size of several segments and subsegments.

  • By Company Type: Tier 1 – 43%, Tier 2 – 24%, and Tier 3 – 33%
  • By Designation: C Level – 26%, D Level – 36%, and Others – 38%
  • By Region: Europe – 45%, North America – 27%, APAC – 18%, and Rest of the World- 9%

The key companies profiled in this report are the AkzoNobel (Netherlands), Axalta Coating Systems, LLC (US), Jotun A/S (Norway), PPG Industries (US), The Sherwin-Williams Company (US), Teknos Group (Finland), Tiger Coatings GmbH & Co. KG (Austria), IGP Pulvertechnik AG (Switzerland), and CIN Industrial Coatings (Portugal).

Research Coverage:
This report provides detailed segmentation of the low temperature powder coatings market based on substrate, resin, end-use industry, and region. With respect to additive type, the low temperature powder coatings market has been segmented into non-metal and metal. Based on resin, the market has been segmented into hybrid, epoxy, polyester, and others. Based on end-use industry, the market has been segmented into furniture, appliances, automotive, medical, retail, electronics, and others. Based on region, the market has been segmented into the Asia Pacific, Europe, North America, and Rest of the World.

Key Benefits of Buying the Report
From an insight perspective, this research report focuses on various levels of analyses ? industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.