The global low temperature powder coatings market size is expected to reach USD 135.63 million by 2032, according to a new study by Polaris Market Research. The report “Low Temperature Powder Coatings Market Share, Size, Trends, Industry Analysis Report, By Resin (Hybrid, Polyester, Epoxy, and Others); By Substrate; By End-Use; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
A rapid surge in the demand for medical devices and increasing production of automobiles in developing nations such as India, Brazil, and China & high adoption of furniture products across the globe on account of its excellent performance, color availability, low operational costs, and anti-bacterial functions are key major factors projected to boost the growth of the global market over the course of the anticipated period.
In addition, increasing investment by key market companies in research & development activities to introduce innovative and improved products to the market is fueling the market growth. For instance, in October 2022, Allnex, announced the opening of its new R&D center in Wendorf, Austria, to develop new low-VOC, waterborne & and VOC-complaint resins & and additives for the coating’s offerings.
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Furthermore, low temperature powder coatings are eco-ecofriendly, as it does not contain any solvents and release very little and no amount of volatile organic compounds into the atmosphere. Powder coatings are also being recognized for their circular traits because of their ability to limit spray waste and further reduce emissions of carbons owing to saved energy during processing.
Low-temperature powder coatings have 25 to 60% less Co2 emissions than other conventional solvent-borne coatings. There is also no need to remove hazardous solvents and do not have sludge or waste to remove, due to which, it is gaining high popularity among various industries and is likely to grow significantly.
Low Temperature Powder Coatings Market Report Highlights
- Polyester segment accounted for a significant market share in 2022 owing to its wide range of benefits such as chemical resistance, quick reliance, and temperature resistance
- Non-metallic segment held the largest market revenue share in 2022 and is expected to grow significantly over the forecast period due to its properties including better resistance and a longer lifespan
- Consumer goods emerged as the largest segment in the global market on account of increasing urbanization, high living standards, and increased consumer purchasing power.
- North America is expected to grow at a considerable CAGR during the projected period, which is accelerated by the rapid increase in the production of automobiles and high investment in research & development activities
- The global market players include PPG Industries, AkzoNobel N.V., Berger Paints India Limited, RPM International, and Marpol Private Ltd.
Polaris Market Research has segmented the low temperature powder coatings market report based on resin, substrate, end-user, and region:
Low Temperature Powder Coatings, Resin Outlook (Revenue – USD Million, 2019-2032)
Low Temperature Powder Coatings, Substrate Outlook (Revenue – USD Million, 2019-2032)
Low Temperature Powder Coatings, End-Use Outlook (Revenue – USD Million, 2019-2032)
- Consumer Goods
Low Temperature Powder Coatings, Regional Outlook (Revenue – USD Million, 2019-2032)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa