Rising focus towards energy savings coupled with advancements in technologies to drive global low temperature powder coatings market through 2024
According to a report released by TechSci Research, ‘Global Low Temperature Powder Coatings Market By Substrate Type, By Resin Chemistry, By End-User, By Region, Competition, Forecast & Opportunities, 2024’, the global low temperature powder coatings market is anticipated to grow during 2019 – 2024. Powder coating is a type of coating that is applied as a free-flowing, dry powder, and it does not require a solvent to keep the binder as well as the filler parts in a liquid suspension form. Anticipated growth in global low temperature powder coatings market can be attributed to increasing inclination towards energy savings due to reduction in cure temperature, technological advancements and growing end-use industries. However, growth of market is likely to be hindered by high humidity and complex shape of substrates.
Browse XX market data Tables and XX Figures spread through 110 Pages and an in-depth TOC on “Global Low Temperature Powder Coatings Market “
Global low temperature powder coatings market is categorized into resin chemistry, substrate type, end-user and region. Based on substrate type, the market is segmented as non-metal and metal, wherein the non-metal segmWent is anticipated to witness the fastest growth in the market, owing to the need for sustainable and innovative products. On the basis of resin chemistry, the market is categorized into polyester & polyester hybrids, epoxy & epoxy-polyester hybrids, polyurethane, acrylic and others. Among these, polyester & polyester hybrids segment leads global low temperature powder coatings market as these resins have excellent physical properties that enable them to withstand prolonged outdoor exposure.
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“Asia-Pacific accounted for a major share in global low temperature coating market and is anticipated to grow at the highest CAGR during forecast period. In the region, China is the largest market for low temperature coatings and is expected to continue its dominance during forecast period as well. The demand for low temperature coating is expected to increase in China due to the growing heavy-duty equipment industry and rapid economic growth in the country. Additionally, growing population in the country offers a huge customer base for manufacturers of low temperature powder coatings, thereby further fuelling growth in the market.” stated Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Low Temperature Powder Coatings Market By Substrate Type, By Resin Chemistry, By End-User, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global low temperature powder coatings market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the global low temperature powder coatings market.
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