CHICAGO, December 13, 2018 /PRNewswire/ --
According to the new research report "Low Temperature
Powder Coatings Market by Substrate (Non-metal, Metal),
Resin (Polyester & Hybrids, Epoxy & Hybrids, PU, Acrylic),
End-use Industry (Furniture, Appliances, Automotive, Architectural,
Electronics, Medical), and Region - Forecast to
2023", published by MarketsandMarkets, the Low
Temperature Powder Coatings Market 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 major factors driving the Low
Temperature Powder Coatings Market include the increase in energy
savings due to reduction in cure temperatures, growing end-use
industries, and technological advancements.
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on "Low Temperature Powder Coatings
Market"
134 - Tables
39 - Figures
152 - Pages
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The non-metal segment is projected to register the higher
CAGR in the Low Temperature Powder Coatings Market during the
forecast period.
Low temperature powder coatings technology provides practical
benefits in the coating of many non-metallic substrates such as
wood & MDF, plastics, glass, and composites. The growth of this
segment is attributed to the rapidly expanding functional range of
powders beyond traditional metal product finishing, into
non-metallic substrates such as wood and MDF, plastics, glass, and
composites. Low temperature powder coatings technology enables
powder coating of non-conductive and non-metallic substrates by
using a low-cost surface treatment that does not emit VOCs or other
hazardous by-products.
The polyester & polyester hybrids segment is estimated to
be the largest resin chemistry during the forecast
period.
Resins used in low temperature powder coatings can be ground
into fine particles, which is necessary for spray application and
to impart even film finish. Polyester & polyester hybrids
resins are preferred over other resin types because of their
outstanding physical properties that enable them to withstand
prolonged outdoor exposure. Polyester powder coatings exhibit good
flow properties, wear resistance, and overbake stability.
Super-durable polyester formulations retain color and gloss in
harsh exterior applications. Polyester powder coatings are
especially useful in architectural, container, shopping cart, lawn
and garden, and agricultural & construction equipment
applications. These factors contribute to the demand for polyester
& polyester hybrids.
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APAC is expected to hold the largest share of the Low
Temperature Powder Coatings Market 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, which is increasing the production of low
temperature powder coatings in the region. APAC is also the
fastest-growing Low Temperature Powder Coatings Market.
Major vendors in the Low Temperature Powder Coatings
Market include Akzo Nobel N.V. (Netherlands), Axalta Coating Systems, LLC
(US), Jotun A/S (Norway), PPG
Industries, Inc. (US), The Sherwin-Williams Company (US), Teknos
Group (Finland), Forrest Technical
Coatings (US), Platinum Phase Sdn Bhd (Malaysia), Tulip Paints (India), Protech Powder Coatings Inc.
(Canada), and CIN Industrial
Coatings (Portugal).
Browse Adjacent Markets @ Coatings Adhesives Sealants
and Elastomers Market Research Reports &
Consulting
Related Reports:
Powder Coatings Market by Resin Type (Thermoset,
Thermoplastic), Coating Method (Electrostatic Spray, Fluidized
Bed), End-Use Industry (Appliances, Automotive, General Industrial,
Architectural, Furniture), and Region - Global Forecast to 2022
Low Temperature Coating (Low Cure Coating) Market by
Coating Type (Powder-Based, and Liquid-Based), Resin Type
(Polyester, Epoxy, Polyurethane, Acrylic), End-Use Industry
(Automotive, Industrial, Heavy-Duty Equipment, Architectural,
Furniture), Region - Global Forecast to 2021
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