Market Size of Low Temperature Powder Coating Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Low Temperature Powder Coating Market Analysis
The market for low temperature powder coating is expected to grow at a CAGR of about 5% globally during the forecast period. Major factor driving the market studied is the rise in energy savings because of lower cure temperatures and wide scope of applications in industrial and automotive industries. On the flip side, complex shape of the substrates and the fact that high humidity affects the performance and unfavorable conditions arising due to the COVID-19 outbreak are the factors that are hindering the growth of the market.
- Increasing inclination for energy savings by minimization of cure temperature, technological advancements and growing end-user industries are expected to create further growth opportunities for the market.
- The furniture industry is expected to dominate the end-user industry segment of global low temperature powder coating market over the period. These coatings are extensively employed on heat sensitive substrates such as wood, medium density fiberboard, and composites.
- Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the consumption from countries such as China, India, and Japan.
