The Low Temperature Powder Coatings Global Market Size, Trends, And Forecast 2024-2033
Low Temperature Powder Coatings Market Size, Share, Revenue , Trends, And Forecast 2024-2033
LONDON , GREATER LONDON , UK , September 13, 2024 /EINPresswire.com/ -- The low temperature powder coatings market has experienced robust growth in recent years, expanding from $0.0028 billion in 2023 to $0.0029 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to environmental regulations, energy savings, industrial and manufacturing growth, furniture and appliances, powder coating efficiency.
Strong Future Growth Anticipated
The low temperature powder coatings market is projected to grow strongly, reaching $0.0037 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to green building practices, electronics and it, automotive lightweighting, renewable energy, corrosion prevention.
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Growth Driver Of The Low Temperature Powder Coatings Market
The growing automotive industry is expected to propel the growth of the low temperature powder coatings market going forward. The automotive industry is a sector that encompasses numerous organizations and firms involved in the design, development, manufacture, marketing, sale, and maintenance of motor vehicles. Low-temperature powder coatings offer a range of benefits for the automotive industry, including energy efficiency, environmental compliance, substrate compatibility, durability, and cost savings.
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Major Players AndMarket Trends
Key players in the low temperature powder coatings market include PPG Industries Inc., AkzoNobel N.V., Axalta Coating Systems LLC, Jotun A/S, Teknos Group Oy, Tulip Paints, Protech Powder Coatings Inc.
Major companies operating in the low temperature powder coatings market are developing innovative products such as PPG ENVIRO-PRIME EPIC 200R coatings to gain a competitive edge in the market. The PPG ENVIRO-PRIME EPIC 200R electrocoat products cure at lower temperatures than competing technologies, providing sustainability benefits for customers including lower energy use and reduced CO2 emissions.
Segments:
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
Geographical Insights: Asia-Pacific Leading TheMarket
Asia-Pacific was the largest region in the low temperature powder coatings market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the low temperature powder coatings market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Low Temperature Powder Coatings Market Definition
Low-temperature powder coatings cure at significantly lower temperatures than normal powder coatings. Low-temperature powder coatings are formulated using chemicals such as polyester, epoxy, polyurethane, and acrylic among others. Only goods and services traded between entities or sold to end consumers are included.
Low Temperature Powder Coatings Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Low Temperature Powder Coatings Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on low temperature powder coatings market size, low temperature powder coatings market driversand trends, low temperature powder coatings market major players, low temperature powder coatings competitors' revenues, low temperature powder coatings market positioning, and low temperature powder coatings market growth across geographies. The low temperature powder coatings market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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