Low Temperature Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Low Temperature Coatings Market Analysis
The global low temperature coatings market is estimated to witness a healthy growth, at an estimated CAGR of over 5%, over the forecast period. The major factor driving the growth of the market studied is increase in energy savings due to reduction in cure temperatures.
- Unsuitability in thin coating applications is likely to hinder the markets growth.
- Increasing usage in temperature-sensitive components are likely to create opportunities for the market in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Low Temperature Coatings Market Trends
This section covers the major market trends shaping the Low Temperature Coatings Market according to our research experts:
Increasing Usage in the Automotive Industry
- In the automotive sector, the coatings are used in automotive plastic parts, heavy-duty trucks and other OEMs. Moreover, advent of electric vehicle, which needs energy efficient methods to improve its popularity is also in need of these coatings, to reduce co2 emission caused by other coatings.
- In 2019, the automotive production witnessed a decline owing to trade war pf US-China and other political reasons. This is expected to continue in the first half of 2020, owing to the weak sales in second half of 2019. However, the automotive industry is likely to recover by the end of 2020.
- In addition, the development of electric vehicles may continue to gain momentum in the upcoming years especially in Europe, China. and United States, where many government programs are promoting a move away from fossil fuels owing to the various environmental concerns.
- Owing to all these factors, the market for low temperature coatings is likely to grow across the world during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country's manufacturing sector is one of the major contributors to the country's economy.
- In China, the government spending has been increasing, in order to construct affordable housing facilities, to cater to the housing demand.
- Despite the volatile growth in the real estate sector, the significant development of rail and road infrastructure by the Chinese government, to withstand the expanding industrial and service sectors, resulted in a significant growth of the Chinese construction industry in the recent years. As the construction industry is dominated by state-owned enterprises, the increased government spending is boosting the industry in the country.
- China is the largest manufacturer of automobiles in the world. The country's automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, in order to ensure fuel economy, and to minimize emissions (owing to the growing environmental concerns due to mounting pollution in the country).
- The production is expected to reach 30 million units by 2020, owing to the 'Made in China 2025' initiative support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. 'Automobile Mid and Long-Term Development Plan', was released in 2017, with an objective to make China a strong auto power in the next ten years.
- Due to all such factors, the market for low temperature coatings in the region is expected to have a steady growth during the forecast period.
Low Temperature Coatings Industry Overview
The low temperature coatings market is consolidated in nature. Some of the major players in the market include Akzo Nobel N.V., PPG Industries, Inc., Axalta Coating Systems, The Sherwin-Williams Company, and Hempel A/S, among others.
Low Temperature Coatings Market Leaders
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Akzo Nobel N.V.
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Axalta Coating Systems
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The Sherwin-Williams Company
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Hempel A/S
*Disclaimer: Major Players sorted in no particular order
Low Temperature Coatings Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increase in Energy Savings due to Reduction in Cure Temperatures
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4.1.2 Other Drivers
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4.2 Restraints
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4.2.1 Unsuitability in Thin Coating Applications
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4.2.2 Impact of COVID-19 Pandemic
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4.3 Industry Value-Chain Analysis
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4.4 Porters Five Force Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Resin
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5.1.1 Polyester
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5.1.2 Epoxy
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5.1.3 Polyurethane
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5.1.4 Acrylics
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5.1.5 Other Resins
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5.2 End-user
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5.2.1 Architectural
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5.2.2 Industrial
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5.2.3 Automotive
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5.2.4 Wood
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5.2.5 Other End-users
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 Italy
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5.3.3.4 France
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle-East and Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Akzo Nobel N.V.
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6.4.2 APV Engineered Coatings
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6.4.3 Axalta Coating Systems
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6.4.4 Hempel A/S
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6.4.5 Jotun
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6.4.6 PPG Industries, Inc.
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6.4.7 RPM International Inc.
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6.4.8 The Sherwin-Williams Company
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Low Temperature Coating Suitable for Temperature-Sensitive Components
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Low Temperature Coatings Industry Segmentation
The global low temperature coatings market report includes:
| Resin | |
| Polyester | |
| Epoxy | |
| Polyurethane | |
| Acrylics | |
| Other Resins |
| End-user | |
| Architectural | |
| Industrial | |
| Automotive | |
| Wood | |
| Other End-users |
| Geography | |||||||
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Low Temperature Coatings Market Research FAQs
What is the current Low Temperature Coatings Market size?
The Low Temperature Coatings Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Low Temperature Coatings Market?
Akzo Nobel N.V., Axalta Coating Systems , The Sherwin-Williams Company and Hempel A/S are the major companies operating in the Low Temperature Coatings Market.
Which is the fastest growing region in Low Temperature Coatings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Low Temperature Coatings Market?
In 2024, the Asia Pacific accounts for the largest market share in Low Temperature Coatings Market.
What years does this Low Temperature Coatings Market cover?
The report covers the Low Temperature Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Low Temperature Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Low Temperature Coatings Industry Report
Statistics for the 2024 Low Temperature Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Low Temperature Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
