Major players in the low-temperature powder coatings market are PPG Indsutries, AkzoNobel NV, Axalta Coating Systems, Jotun A/S, Teknos Group, Tulip Paints, Protech Powder Coatings, Platinum Phase SDN, CIN Industrial Coatings, Keyland Polymer, Tiger Coatings Gmbh, IGP Pulvertechnik AG, Foechnical Coatings, BASF SE, Dupont, Koninklijke DSM, Prismatic Powders, Funder America Inc, and Forrest Technical Coatings.
New York, Sept. 29, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Low Temperature Powder Coatings Global Market Report 2020-30: COVID-19 Growth And Change" - https://www.reportlinker.com/p06151703/?utm_source=GNW
The global low temperature powder coatings market is expected to grow from $3.43 million in 2020 to $3.74 million in 2021 at a compound annual growth rate (CAGR) of 9.17%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.76 million in 2025 at a CAGR of 6.23%.
The low temperature powder coatings market consists of sales of low-temperature powder coatings and related services.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, acrylic among others. Only goods and services traded between entities or sold to end consumers are included.
The main types of resins in low temperature powder coatings are acrylic, polyurethane, polyester and polyester hybrids, and epoxy and epoxy hybrids.The different types of substrates of low temperature powder coatings are non-metal and metal.
These are used in furniture, appliances, automotive, architectural, retail, electronics, and medical industries.
The regions covered in the low-temperature powder coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The difficulty in maintaining the storage stability of the low-temperature powder coatings has always been a major challenge in the low-temperature powder coating market.In terms of storage, the powder has two adversaries that are heat and moisture.
The powder should be stored away from heat places or direct sunlight, which over time can cause the powder to harden and becomes unstable, and a low humidity environment is suggested for the storage. The difficulty of maintaining storage stability of lower temperature powder coatings has a negative impact on the low-temperature powder coatings market.
In March 2020, PPG Industries is US-based company that develops and delivers paints, coatings, and specialty materials has acquired Alpha Coatings Technologies, a West Chicago-based manufacturer of powder coatings and light industrial applications, medium density fiberboard, and heat-sensitive substrates, for an undisclosed amount.This acquisition is a strategic complement to PPG with the technology and turnaround color matching capabilities of Alpha and after the acquisition, PPG will continue to provide outstanding products and services to the customers.
Alpha is founded in the year 2000.
The increase in the need for lower curing temperatures and less curing time contributed to the growth of the low-temperature powder coatings market.For instance, most powder coating such as thermoset powders cures at a temperature of 390°F (200°C) for 10 to 15 minutes or 10 to 30 minutes.
According to Teknos, the curing temperature for polyester-based powder coatings is 160°C for 10 minutes, and for Epoxy polyester-based powder coating is 145°C for 10 minutes.The difference in curing temperature and time between normal powder coating and a low-temperature powder coating is around 40°C to 65°C and a time difference of 5 to 6 minutes.
The lower curing temperatures and less curing time significantly benefited the end-user industry and drove the market for the low-temperature powder coatings.
Companies in low temperature powder coating market are focusing on developing advanced biobased powder coating technologies that that can be used in multiple powder coating systems. For instance, Allnex, a global producer of industrial coating resins developed a product line based on renewable monomers derived from C5 and C6 sugars that are biobased carboxyl polyesters and can be used in a variety of powder coating systems, including epoxy-polyester hybrids, polyester-HAA (hydroxyl-alkyl amide), and TGIC-cured formulas.
The countries covered in the low temperature powder coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06151703/?utm_source=GNW
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