$5.2 Bn Low Temperature Powder Coatings Market - Global Forecast to 2023: Growing End-Use Industries Driving the Low Temperature Powder Coatings Market
DUBLIN, Jan. 28, 2019 /PRNewswire/ --
The "Low Temperature Powder Coatings Market by Substrate, Resin, End-use Industry, and Region - Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The low temperature powder coatings market size is expected to grow from USD 3.9 billion in 2018 to USD 5.2 billion by 2023, at a CAGR of 6.0% during the forecast period.
The low temperature powder coatings market is driven by increase in energy savings due to reduction in cure temperatures, growing end-use industries, and technological advancements. However, non-suitability for thin film applications and unattractive product in the price competitive market can hinder the growth of the market.
"Increasing use of non-metal substrate is expected to fuel the demand for low temperature powder coatings market"
Non-metal is the faster-growing segment in the overall low temperature powder coatings market. The need for sustainable and innovative products has driven many powder coating manufacturers to develop coatings for substrates which have never been powder coated. New low temperature powder coatings are being developed. These finishing materials are being used on heat sensitive substrates such as wood and medium density fiberboard (MDF), plastics, composites, glass, and preassembled parts.
"Polyurethane is projected to be the fastest growing resin chemistry during the forecast period"
Resins used in low temperature powder coatings can be ground into fine particles for spray application and to ensure even film finish. The polyurethane-based low temperature powder coatings segment is projected to grow at a high rate during the forecast period. This resin offers durability, abrasion resistance, low-temperature flexibility, and good aesthetics in furniture, appliances, automotive, architectural, retail, electronics, and medical industries.
"Furniture is expected to be the fastest-growing end-use industry during the forecast period"
Low temperature powder coating offers environmental and performance benefits over other coating and laminating systems. Finishing of wood requires careful planning to ensure that the finished piece looks attractive, performs well in service, and meets safety & environmental requirements. Low temperature powder coatings have gained significant importance as the surface protection of choice in the furniture industry. They are used for surface finishing of steel and aluminum, such as garden furniture, site furnishings, and MDF furniture.
"APAC is expected to record the highest growth rate during the forecast period"
APAC has emerged as the leading consumer and producer of low temperature powder coatings. The easy availability of low-cost labor and economical & accessible raw materials are driving foreign investments, thereby, increasing the production of low temperature powder coatings in the region. APAC is the largest and the fastest-growing low temperature powder coatings market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Low Temperature Powder Coatings Market
4.2 Low Temperature Powder Coatings Market, By Substrate
4.3 Low Temperature Powder Coatings Market, By Resin Chemistry
4.4 Low Temperature Powder Coatings Market, By End-Use Industry and Key Countries
4.5 Low Temperature Powder Coatings Market, Developed vs Developing Countries
4.6 APAC Low Temperature Powder Coatings Market
4.7 Low Temperature Powder Coatings Market Attractiveness
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Energy Savings Due to the Reduction in Cure Temperature
5.2.1.2 Growing End-Use Industries Driving the Low Temperature Powder Coatings Market
5.2.1.3 Technological Advancements
5.2.2 Restraints
5.2.2.1 Not an Attractive Product in Price-Competitive Markets
5.2.3 Opportunities
5.2.3.1 Low Temperature Coatings Suitable for Temperature-Sensitive Components
5.2.3.2 Increasing Demand From the Automotive Industry in APAC
5.2.4 Challenges
5.2.4.1 High Humidity and Complex Shape of Substrates Might Affect the Performance of Low Temperature Powder Coatings
5.2.4.2 Environmental Regulations
5.3 Porter's Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
6 Low Temperature Powder Coatings Market, By Substrate Type
6.1 Introduction
6.2 Non-Metal
6.2.1 Wood and Medium-Density Fibreboard (MDF)
6.2.2 Plastics, Composites, & Glass
6.3 Metal
6.3.1 APAC to Drive the Demand for Low Temperature Powder Coatings for Metal Substrates
7 Low Temperature Powder Coatings Market, By Resin Chemistry
7.1 Introduction
7.2 Polyester & Polyester Hybrids
7.3 Epoxy & Epoxy-Polyester Hybrids
7.4 Polyurethane
7.5 Acrylic
7.6 Others
8 Low Temperature Powder Coatings Market, By End-Use Industry
8.1 Introduction
8.2 Furniture
8.3 Appliances
8.4 Automotive
8.5 Architectural
8.6 Retail
8.7 Electronics
8.8 Medical
8.9 Others
9 Low Temperature Powder Coatings Market, By Region
10 Competitive Landscape
10.1 Introduction
10.2 Competitive Scenario
10.2.1 Expansion
10.2.2 Merger & Acquisition
10.2.3 New Product Launch
11 Company Profiles
- Akzo Nobel N.V.
- Axalta Coating Systems, LLC
- Cin Industrial Coatings S.A.
- Forrest Technical Coatings
- Jotun A/S
- PPG Industries Inc.
- Platinum Phase Sdn Bhd
- Protech Powder Coatings Inc.
- Teknos Group
- The Sherwin-Williams Company
- Tulip Paints
For more information about this report visit https://www.researchandmarkets.com/research/hht8p4/5_2_bn_low?w=5
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