Global Low Temperature Coating Market Booming at high CAGR of 8.0 % by 2026

Posted by swamiv on November 21st, 2019

Global low temperature coating market By Coating Type (Powder-Based, Liquid-Based), By Resin Type (Polyester, Polyurethane, Epoxy, Acrylic) end Use (Automotive, Heavy-Duty Equipment, Industrial, Architectural, Furniture)

Market Analysis: Global Low Temperature Coating Market

Global low temperature coating market is set to witness a substantial CAGR of 8.0% in the forecast period of 2019 to 2026. The report contains data of the base year 2018 and historic year 2017. This rise in the market can be attributed due to their eco-friendly nature as they will reduce the risk of volatile organic compound emissions into the atmosphere.

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Market Definition: Global Low Temperature Coating Market

Low temperature coating is also known as low cure coating which is widely used to apply coatings to valves, pipes, fittings, welds. They are mostly used in cold temperature conditions as they have the ability to cure down to 0°C. They are used in many end user industries like automotive, constructions and heavy duty equipment’s.

Market Drivers:

•          The use of environment friendly coating is driving the growth of the market
•          The growth in the end use industries is likely to expand the market
•          The increase in energy savings due to reduction in cure temperatures is boosting the growth of the market
•          The healthy growth in automotive industry will drive the growth of the market

Market Restraints:

•          Not suitable for thin film application which is restraining the market growth
•          The longer and costlier drying and curing for large parts is hindering the growth of the market

Segmentation: Global Low Temperature Coating Market

By Coating Type

•          Powder-Based
•   Thermoplastic
•   Thermoset Powders
•          Liquid-Based

By Resin Type

•          Polyester
•          Epoxy
•          Polyurethane
•          Acrylic
•          Others

By Sunstrate Type

•          Metal
•          Non Metal
•   Wood and Medium-Density Fibreboard (MDF)
•   Plastics, Composites, & Glass

By End User

•          Automotive
•          Industrial
•          Heavy-Duty Equipment
•          Architectural
•          Furniture
•          Oil and Gas
•          Construction
•          Medical
•          Retail
•          Others

Key Developments in the Market:

In May 2019, Axalta Coating Systems, which is a leading supplier of powder and liquid coatings globally, received the Ducks Unlimited Corporate Conservation Achievement Award in the 82nd Annual National Convention which was held in Hawaii. These types of prestigious awards would trigger the company’s recognition.

In April 2018, Axalta Coatings Systems Ltd. has inaugurated new coating manufacturing plant in India. The newly installed plant will tend to double the coating manufacturing capacity Axalta so that it can meet the growing demand in the various industry verticals like automotive etc. 

Competitive Analysis

Global low temperature coating market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of customer of low temperature coating market for global, Europe, North America, Asia Pacific and South America, Middle East and Africa

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