Dublin, Nov. 25, 2020 (GLOBE NEWSWIRE) -- The "Low Temperature Powder Coatings Market by Substrate (Non-metal, Metal), Resin (Polyester, Epoxy, Hybrid), End-use Industry (Furniture, Appliances, Automotive, Retail, Medical), & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Low-Temperature Powder Coatings Market is Projected to Grow from USD 3.4 Million in 2020 to USD 3.9 Million by 2025, at a CAGR of 3.2%
The market is majorly driven by increased demand from the furniture industry. The increase in energy savings due to a reduction in cure temperatures, growing end-use industries, and technological advancements are driving the low-temperature powder coatings market.
The non-metal substrate segment is expected to hold the largest share of the overall low-temperature powder coatings market during the forecast period.
The non-metal substrate segment accounted for the largest share of the overall low-temperature powder coatings market in 2019. This growth can be attributed to the rapidly expanding functional range of powders, beyond traditional metal product finishing, on non-metallic substrates such as wood, MDF, plastics, glass, and composites. In Europe, where the furniture industry is growing, there is high demand for low-temperature powder coatings.
The hybrid resin segment is expected to hold the largest share of the overall low-temperature powder coatings market during the forecast period.
The hybrid resin segment accounted for the largest share of the overall low-temperature powder coatings market in 2019. These types of reins fills a large niche in the coating market. Because of the epoxy content, hybrids are relegated to indoor applications, but the addition of a significant polyester content gives this chemistry very good color stability in the curing process. Hybrid's low cost, stable color, and relatively good film performance make them a natural choice for a multitude of indoor applications.
The low-temperature powder coatings market in the furniture end-use industry is expected to hold the largest share during the forecast period.
The furniture industry accounted for the largest share, in terms of value, of the low-temperature powder coatings market in 2019. Temperature-sensitive components such as MDF and wood have always created a hindrance in the industrial finishing of assembled parts. The coating used must offer a consistent cure range which should not damage sensitive components. These coatings are best suitable for such substrates, as they provide enhanced performance without compromising the functionality of the part.
Europe low-temperature powder coatings market is estimated to register the highest CAGR during the forecast period.
Europe has emerged as the leading consumer and producer of low-temperature powder coatings. It is also the fastest-growing low-temperature powder coatings market due to the high demand from end-use industries such as furniture, appliances, and automotive. Over the past few years, the furniture, appliances, and automotive industries in the region have witnessed significant developments, due to which the demand for low-temperature powder coatings is estimated to increase substantially.
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, Developed Vs. Developing Countries
4.4 Low-Temperature Powder Coatings Market in Europe, by End-Use Industry and Country
4.5 Low-Temperature Powder Coatings Market, by Key Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Energy Savings Due to Reduction in Cure Temperature
5.2.2 Restraints
5.2.2.1 High Priced Product in a Price-Competitive Market
5.2.2.2 Difficulty of Maintaining Storage-Stability while Enabling Low-Temperature Curing
5.2.2.3 Requires Refrigerated Storage or Transport to Extend Shelf Life
5.2.3 Opportunities
5.2.3.1 Low-Temperature Coatings Suitable for Temperature-Sensitive Components
5.2.3.2 Increasing Demand for Composites in Automotive and Aerospace Industries
5.2.3.3 Technological Advancements
5.2.4 Challenges
5.2.4.1 High Humidity and Complex Shape of Substrates Affecting Performance of Coatings
5.2.4.2 Mdf is Mature Product in Developed Regions
5.3 Technology Analysis
5.4 Porter's Five Forces Analysis
6 Macroeconomic Trends and Impact of COVID-19
6.1 Macro Indicator Analysis
6.2 Value Chain Analysis
6.3 COVID-19 Impact
6.4 COVID-19 Economic Assessment
6.5 Value Chain of Paints & Coatings Industry
6.6 Impact on Value Chain
6.7 Customer Analysis
6.8 Shift in Aerospace Industry
6.9 Shift in Construction Industry
7 Low-Temperature Powder Coatings Market, by Substrate
7.1 Introduction
7.2 Non-Metal
7.2.1 Wood and Medium-Density Fibreboard (MDF)
7.2.1.1 Manufacturers Are Focusing More on Mdf Based Substrates
7.2.2 Plastics, Composites & Glass
7.2.2.1 Medical & Healthcare, Building & Construction, and HVAC Systems Are Driving the Demand
7.3 Metal
7.3.1 Europe to Drive Demand for Low-Temperature Powder Coatings for Metal Substrates
8 Low-Temperature Powder Coatings Market, by Resin
8.1 Introduction
8.1.1 Thermosetting Powder Coating Chemistries
8.1.2 UV Curable Powder Coating Chemistries
8.2 Hybrid
8.2.1 Hybrids Designed for Indoor Applications That Require Lesser Durability Requirements
8.3 Polyester
8.3.1 Good to Excellent Outdoor Durability and Good Balance of Chemical and Wear Resistance
8.4 Epoxy
8.4.1 Excellent Chemical Resistance, Hardness and Wear Resistance to Drive the Demand
8.5 Others
8.5.1 Acrylic
8.5.2 Polyurethane
9 Low-Temperature Powder Coatings Market, by End-Use Industry
9.1 Introduction
9.2 Furniture
9.2.1 Mdf-Based Furniture Expected to Drive the Low-Temperature Powder Coatings Market
9.3 Appliances
9.3.1 Increasing Per Capita Income and Consumer Spending on Appliances to Drive the Market
9.4 Automotive
9.4.1 Increasing Demand for Composites in Automotive Offers Lucrative Opportunities
9.5 Medical
9.5.1 New Applications in Medical Industry to Boost Demand for Low-Temperature Powder Coatings
9.6 Retail
9.6.1 Increasing Use of Pop Displays and Store Fixtures to Fuel the Market in the Retail Industry
9.7 Electronics
9.7.1 Demand for Highly Efficient Protective Coating Property to Spur Market Growth
9.8 Others
10 Low-Temperature Powder Coatings Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking
11.3 Company Evaluation Quadrant, 2019
11.4 Strength of Product Portfolio
11.5 Business Strategy Excellence
11.6 Competitive Scenario
12 Company Profiles
- Akzonobel N.V.
- Arsonsisi Technological Coatings
- Axalta Coating Systems LLC
- Cin Industrial Coatings
- IGP Pulvertechnik Ag
- Jotun A/S
- Keyland Polymer Materials Sciences
- Platinum Phase Sdn Bhd
- PPG Industries
- Protech-Oxyplast Group
- Sherwin-Williams Company
- Teknos Group
- Tiger Coatings GmbH & Co. Kg
- Tulip Paints
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