Market Size of Low Temperature Powder Coating Industry
| 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 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 Size Summary
The low temperature powder coating market is poised for significant growth, driven by the increasing demand for energy-efficient solutions and the broad applicability of these coatings in industrial and automotive sectors. The market's expansion is primarily fueled by the need for energy savings through lower cure temperatures, alongside technological advancements and the burgeoning end-user industries. The furniture industry is anticipated to lead the market segment, as these coatings are extensively used on heat-sensitive substrates like wood and medium density fiberboard. Despite challenges such as substrate complexity and environmental factors like high humidity, the market continues to thrive, supported by the growing construction activities in residential and commercial sectors globally.
The Asia-Pacific region is expected to experience the fastest growth in the low temperature powder coating market, driven by countries such as China, India, and Japan. This growth is attributed to the region's increasing urbanization, rising disposable incomes, and the demand for premium quality furniture. The availability of low-cost labor and easy access to raw materials further attracts foreign investments, boosting production capabilities. The market is characterized by a partially consolidated structure, with major players like Akzo Nobel N.V., Axalta Coating Systems, and PPG Industries holding significant market shares. The region's expanding heavy-duty equipment industry and rapid economic growth, particularly in China, contribute to the robust demand for these coatings, enhancing their market presence.
Low Temperature Powder Coating Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Rise in Energy Savings because of Lower Cure Temperatures
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1.1.2 Wide Scope of Application in Industrial and Automotive Components
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1.2 Restraints
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1.2.1 High Humidity Affects Performance of these Coatings
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1.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Substrate
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2.1.1 Metal
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2.1.2 Non-Metal
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2.2 Resin Chemistry
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2.2.1 Polyurethane
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2.2.2 Acrylic
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2.2.3 Epoxy and Hybrid
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2.2.4 Polyester and Hybrid
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2.3 End-user Industry
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2.3.1 Automotive
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2.3.2 Electronic Appliances
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2.3.3 Furniture
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2.3.4 Medical
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2.3.5 Retail
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2.3.6 Others
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 France
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2.4.3.4 Italy
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2.4.3.5 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle-East and Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 Rest of Middle-East and Africa
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Low Temperature Powder Coating Market Size 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.
