The global Low-Temperature Powder Coatings market is forecast to reach USD 2.3 Million by 2027, according to a new report by Reports and Data. Low-Temperature Powder Coating is growing due to the rising concern for a luxury lifestyle and increasing standard of living in the developing nations.
The low-temperature powder coating is a technology that virtually removes the dangerous streams waste associated with conventional coating painting. These hazardous stream wastes include unused paint admixture, contaminated booth filters, cleaning solvents, and air emission. It also helps to reduce the exposures and liabilities associated with liquid coating use. The PC (powder coating) method distributes a small amount of mixture of resins and pigment onto a substrate.
Low-temperature Powder Coatings Market Size – USD 1.3 Million in 2017, Market Growth – CAGR of 5.7%, Market Trends – High demand from end-use industries specifically from the automotive industry.
The COVID-19 impact:
COVID-19 has impacted the market negatively. The weaker consumer demand for lifestyle and well-being products due to the imposition of lockdown and social restrictions will have a negative impact on the demand for cosmetics and certain food additives. The COVID-19 pandemic has crippled various industries, along with public construction. The activity will more likely cease due to the imposition of lockdown and social distancing, and work will halt due to the supply chain disruption, the termination of contracts to control expenses, and the shortage of subcontractors and materials. However, the ease in restrictions and the government initiatives to start the economic activities in the consumer goods market creates hope for the imminent recovery of the market.
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Further key findings from the report suggest
- Low-temperature powder coatings usually adhere to the environmental norms as they have a very low concentration of (VOC) volatile organic compound emission. The environmental benefits offered by this product, coupled with the performance benefits, make it desirable among the end-users.
- The Middle East & Africa is poised to show stable growth. In contrast, Central & South America is expected to witness lackluster growth owing to relatively weaker economic conditions and consumption trends.
- Key participants include Akzo Nobel N.V., Axalta Coating Systems, LLC, Jotun A/S, PPG Industries, Inc., The Sherwin-Williams Company, Teknos Group, Forrest Technical Coatings, Platinum Phase Sdn Bhd, Tulip Paints, Protech Powder Coatings Inc., and CIN Industrial Coatings, among others.
- The players operating in the market have undertaken several strategies related to the market; for instance, in March 2019, PPG Industries, Inc. launched its new product line of PPG ENVIROCRON Extreme Protection Edge coatings at Powder Coating 2019 in Florida. This new product is a patent-pending, advanced powder coating formulation developed by PPG and will enhance its overall powder coatings product offerings.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/low-temperature-powder-coatings-market
For the purpose of this report, Reports and Data have segmented into the global Low-Temperature Powder Coating market on the basis of Resin Type, Substrate Type, application, end-use industry, and region:
Resins Type Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
Substrate Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- Non- Metal
- Wood And Medium-Density Fiberboard (MDF)
- Plastics, Composites, & Glass
End-Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- Electrical & Electronics
- Automotive & Transportation
- Building & constructions
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