The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Low Temperature Powder Coatings Global Market Report 2024, the low temperature powder coatings market is expected to show significant growth in the forecast period.

1. Market Overview

The low-temperature powder coatings market has experienced robust growth in recent years, evolving from $0.0028 billion in 2023 to $0.0029 billion in 2024, with a commendable compound annual growth rate (CAGR) of 5.7%. The historic growth is credited to various factors, including stringent environmental regulations, the drive for energy savings, industrial and manufacturing expansion, and the efficiency of powder coatings in sectors like furniture and appliances.

Key Figures:

• Market Size (2023): $0.0028 billion
• Projected Growth (2024): $0.0029 billion
• CAGR (2023-2024): 5.7%

2. Future Growth Prospects

The low-temperature powder coatings market is set to witness robust growth in the upcoming years, reaching $0.0037 billion in 2028, with a compound annual growth rate (CAGR) of 6.2%. The forecasted growth is driven by a surge in green building practices, increased application in electronics and IT, automotive lightweighting initiatives, a focus on renewable energy, and the expanding role of powder coatings in corrosion prevention.

Key Growth Drivers:

• Green Building Practices
• Electronics and IT
• Automotive Lightweighting
• Renewable Energy
• Corrosion Prevention

Major Trends:

• Digital Printing Integration
• Advanced Surface Protection
• Sustainable and Eco-friendly Formulations
• Energy-Efficient Manufacturing
• Nanotechnology Integration

3. Driving Forces of the Low-Temperature Powder Coatings Market

The demand for lower curing temperatures and reduced curing time has been a significant driving force behind the growth of the low-temperature powder coatings market. Notably, the curing temperature for polyester-based powder coatings is around 160°C for 10 minutes, providing a substantial reduction compared to traditional powder coatings. This has been advantageous for end-user industries, contributing to the market’s expansion.

Key Factors:

• Need for Lower Curing Temperatures
• Reduced Curing Time
• Temperature and Time Differences

Market Players:

• PPG Industries Inc.
• AkzoNobel N.V.
• Axalta Coating Systems LLC
• Jotun A/S
• Teknos Group Oy
• Tulip Paints
• And Many More…

4. Revolutionizing Powder Coatings with PPG’s Sustainable Innovations

Leading companies in the low-temperature powder coatings market, such as PPG Industries Inc., are at the forefront of sustainable innovations. PPG’s ENVIRO-PRIME EPIC 200R coatings, launched in June 2023, cure at lower temperatures than competing technologies, showcasing sustainability benefits like lower energy consumption and reduced CO2 emissions. This exemplifies a commitment to environmental responsibility and technological advancement.

Innovative Product:

• PPG ENVIRO-PRIME EPIC 200R Coatings
• Lower Curing Temperatures
• Sustainability Benefits

5. PPG’s Strategic Expansion with Acquisition of VersaFlex

In February 2021, PPG made a strategic move by acquiring VersaFlex, a US-based coatings manufacturer specializing in various coatings, including polyurethane coatings. This acquisition has not only expanded PPG’s product portfolio but has also reinforced its position in the protective coatings market, showcasing a commitment to growth and innovation.

Strategic Acquisition Highlights:

• PPG Acquires VersaFlex
• Expansion of Product Portfolio
• Strengthening Position in Protective Coatings Market

6. Market Segmentation Insights

Understanding the nuances of market segmentation is crucial for stakeholders. The low-temperature powder coatings market is segmented based on resin type, substrate type, and end-use industries.

Market Segmentation:

1. By Resin:
   • Acrylic
   • Polyurethane
   • Polyester & Polyester Hybrids
   • Epoxy & Epoxy Hybrids
   • Other Resins
2. By Substrate Type:
   • Non-Metal
   • Metal
3. By End-Use Industry:
   • Furniture
   • Appliances
   • Automotive
   • Architectural
   • Retail
   • Electronics
   • Medical
   • Other End-Use Industries

7. Regional Dynamics

In 2023, Asia-Pacific emerged as the largest region in the low-temperature powder coatings market, and it is anticipated to maintain its position as the fastest-growing region during the forecast period.

Regional Insights:

• Asia-Pacific: Largest Market in 2023
• Asia-Pacific: Fastest-Growing Region

View More On The Low Temperature Powder Coatings Market Report 2024 – https://www.thebusinessresearchcompany.com/report/low-temperature-powder-coatings-global-market-report

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The Low Temperature Powder Coatings Global Market Report 2024  provides an in-depth analysis on the low temperature powder coatings market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the low temperature powder coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 
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