Low Temperature Powder Coating 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 | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Low Temperature Powder Coating Market Analysis
The market for low temperature powder coating is expected to grow at a CAGR of about 5% globally during the forecast period. Major factor driving the market studied is the rise in energy savings because of lower cure temperatures and wide scope of applications in industrial and automotive industries. On the flip side, complex shape of the substrates and the fact that high humidity affects the performance and unfavorable conditions arising due to the COVID-19 outbreak are the factors that are hindering the growth of the market.
- Increasing inclination for energy savings by minimization of cure temperature, technological advancements and growing end-user industries are expected to create further growth opportunities for the market.
- The furniture industry is expected to dominate the end-user industry segment of global low temperature powder coating market over the period. These coatings are extensively employed on heat sensitive substrates such as wood, medium density fiberboard, and composites.
- Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the consumption from countries such as China, India, and Japan.
Low Temperature Powder Coating Market Trends
This section covers the major market trends shaping the Low Temperature Powder Coating Market according to our research experts:
Increased Demand from Furniture Industry
- Low temperature powder coating exhibits environmental and performance benefits over other coating and laminating systems. Finishing of wood needs to ensure that the finished piece looks attractive and meets safety & environmental benchmarks.
- The low temperature powder coating market is driven mainly by growth in furniture industry globally. This growth is attributable to rising residential and commercial construction. Increasing construction of housing, offices and commercial complexes is significantly influencing the growth of the product.
- Increasing demand for these coatings from furniture, industrial and automotive industries along with improved economic conditions are gaining traction of manufacturers to cater to surging demand from both developed and emerging economies.
- These finishing materials are employed mainly on the heat sensitive substrates such as wood, plastics, glass and medium density fiberboard.
- Another key factor is the fact that the number of vendors that are present locally and globally are boosting the demand for these coatings. In addition, the renovation and modification projects globally are surging the demand for furniture's thereby boosting demand for these coatings. They are also employed for the surface finishing of steel and aluminum, like garden furniture and site furnishings.
Asia Pacific Region to Dominate the Market
- The Asia Pacific low temperature powder coating market is estimated to witness fastest growth during the period. The ease of availability of low-cost labor and economical & easy access of raw materials are driving foreign investments, thereby increasing the production of these coatings in the region.
- The region is expected to witness significant growth from various end-user industries such as industrial, chemical, automotive and furniture industries. Factors such as urbanization and rising disposable income in emerging economies are influencing the growth of the furniture market in the region.
- The increasing number of economic corridors and SEZ's, growing demand for premium quality furniture, and the growth in tourism will also surge the demand for these coatings in this region.
- China is anticipated to lead the demand in the region on account of rapidly expanding heavy-duty equipment industry and rapid economic growth in the country. Additionally, increasing population levels in the country offers large customer base for the manufacturers, thereby further fueling growth of the market.
Low Temperature Powder Coating Industry Overview
The Global Low Temperature Powder Coating Market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Akzo Nobel N.V., Axalta Coating Systems, LLC, Jotun A/S, PPG Industries, Inc., and The Sherwin-Williams Company among others.
Low Temperature Powder Coating Market Leaders
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Akzo Nobel N.V.
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Axalta Coating Systems
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Jotun A/S
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PPG Industries, Inc.
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The Sherwin-Williams Company
*Disclaimer: Major Players sorted in no particular order
Low Temperature Powder Coating 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 Rise in Energy Savings because of Lower Cure Temperatures
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4.1.2 Wide Scope of Application in Industrial and Automotive Components
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4.2 Restraints
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4.2.1 High Humidity Affects Performance of these Coatings
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4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Substrate
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5.1.1 Metal
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5.1.2 Non-Metal
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5.2 Resin Chemistry
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5.2.1 Polyurethane
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5.2.2 Acrylic
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5.2.3 Epoxy and Hybrid
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5.2.4 Polyester and Hybrid
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5.3 End-user Industry
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5.3.1 Automotive
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5.3.2 Electronic Appliances
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5.3.3 Furniture
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5.3.4 Medical
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5.3.5 Retail
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5.3.6 Others
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5.4 Geography
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5.4.1 Asia-Pacific
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5.4.1.1 China
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5.4.1.2 India
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5.4.1.3 Japan
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5.4.1.4 South Korea
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5.4.1.5 Rest of Asia-Pacific
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5.4.2 North America
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5.4.2.1 United States
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5.4.2.2 Canada
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5.4.2.3 Mexico
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5.4.3 Europe
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5.4.3.1 Germany
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5.4.3.2 United Kingdom
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5.4.3.3 France
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5.4.3.4 Italy
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5.4.3.5 Rest of Europe
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle-East and Africa
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5.4.5.1 Saudi Arabia
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5.4.5.2 South Africa
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5.4.5.3 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 (%) /Ranking 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 Axalta Coating Systems, LLC
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6.4.3 Forrest Technical Coatings
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6.4.4 Jotun A/S
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6.4.5 Platinum Phase Sdn Bhd
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6.4.6 PPG Industries, Inc.
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6.4.7 Protech Powder Coatings Inc.
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6.4.8 Teknos Group
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6.4.9 The Sherwin-Williams Company
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6.4.10 Tiger Coatings GmbH & Co. KG
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Increasing Energy Savings by Cure Temperatures and Technological Developments
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7.2 Other Opportunities
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Low Temperature Powder Coating Industry Segmentation
The Low Temperature Powder Coating Market report includes:
| Substrate | |
| Metal | |
| Non-Metal |
| Resin Chemistry | |
| Polyurethane | |
| Acrylic | |
| Epoxy and Hybrid | |
| Polyester and Hybrid |
| End-user Industry | |
| Automotive | |
| Electronic Appliances | |
| Furniture | |
| Medical | |
| Retail | |
| Others |
| Geography | |||||||
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Low Temperature Powder Coating Market Research FAQs
What is the current Low Temperature Powder Coating Market size?
The Low Temperature Powder Coating Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Low Temperature Powder Coating Market?
Akzo Nobel N.V., Axalta Coating Systems, Jotun A/S, PPG Industries, Inc. and The Sherwin-Williams Company are the major companies operating in the Low Temperature Powder Coating Market.
Which is the fastest growing region in Low Temperature Powder Coating 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 Powder Coating Market?
In 2024, the Asia Pacific accounts for the largest market share in Low Temperature Powder Coating Market.
What years does this Low Temperature Powder Coating Market cover?
The report covers the Low Temperature Powder Coating Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Low Temperature Powder Coating Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Low Temperature Powder Coating Industry Report
Statistics for the 2024 Low Temperature Powder Coating market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Low Temperature Powder Coating analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
