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
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)
Low Temperature Powder Coatings, Regional Outlook (Revenue - USD Million, 2019-2032)