The global low temperature powder coatings market size was USD 97 million in 2021 and is projected to grow at a CAGR of 3.0% during the forecast period to reach USD 116 million by 2027. Due to their lower cure temperature, low temperature powder coatings can meet the same performance standards as conventional high performance coatings while using less energy.
“The Non-metal substrate is expected to register the highest CAGR of the overall low temperature powder coatings market during the forecast period, in terms of volume.”
Low temperature powder coating can be used on nonmetallic surfaces such as wood and MDF, plastics, glass, and composites. When compared to liquid paints, powder coating is known for its excellent adherence, good durability, lack of runs, and low VOCs during application. This expansion can be attributed to the region’s strong demand from the furniture sector. Wood and MDF are also great substrates for low temperature powder coatings. This coating utilizes far less heat and has a very short processing time. The furniture sector is expected to grow in the forecast period and this will drive the non-metal substrate low temperature powder coatings market in the forecast period.
“The furniture segment of the end use industry is projected to register the highest CAGR during the forecast period.”
Market drivers in this segment are infrastructural growth in various countries, and growth in applications, including office furniture, garden furniture, and kitchen furniture. There is strong demand for these applications from the Asia Pacific region, especially from developing countries such as China, India, Thailand, Indonesia, and Malaysia. Global low temperature powder coating manufacturers are establishing their manufacturing facilities or sales offices in these emerging regions to cater to the increasing demand.
Europe low temperature powder coatings market is projected to register the second largest market share during the forecast period.
Europe was the second-largest market for low temperature powder coatings in 2021. The increasingly stringent regulations regarding the use of low/no VOC coatings and the switching of coating technologies may affect the demand for low temperature powder coatings. The low temperature powder coatings market in Europe is expected to grow faster due to the presence of top player and technology advancement. It is expected to rise gradually as more people become aware of the yearly cost reductions offered by this technology.
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 waterborne 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 RoW 9%
The key companies profiled in this report are PPG Industries Inc. (US), and Sherwin-Williams Company (US).
This report provides detailed segmentation of the low temperature powder coatings market based on substrate, resin, end – use industry, and region. Based on substrate, low temperature powder coatings market has been segmented into metal and Non-metal. Based on resin, the market has been segmented into hybrid, polyester, epoxy, and others. Based on end – use industry market has been segmented into furniture, appliances, automotive, medical, retail, electronics, and others. Based on region, the market has been segmented into Asia Pacific, Europe, North America, and Rest of the world.
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From an insights 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.