Low-cure coatings have been engineered to develop fully cured coatings when set at lower oven temperatures or with shorter dwell times at conventional oven temperatures. Low-cure coatings can cure at temperatures of less than; hence, they are very used for coating equipment and machineries operating in cold conditions.
Global Low-cure Coatings Market: Segmentation
Based on coating type, the global low-cure coatings market can be bifurcated into powder based and liquid based. Powder based coating technology virtually eliminates toxic waste streams associated with conventional painting techniques. Low-cure powder based coatings also significantly reduce the emission of volatile organic compounds (VOC) and hazardous air pollutants, which are generally associated with low-cure liquid coatings. Low-cure powder based coatings exhibit certain advantages over low-cure liquid based coatings. These include elimination of bubbles, drips and runs; better corrosion resistance, and durability. Based on resin type, the global low-cure coatings market can be segmented into epoxy, acrylic, polyurethane, polyester, and others. In terms of end-use industry, the market can be classified into furniture, automotive, heavy duty equipment, industrial, architectural, and others. The automotive segment dominated the low-cure coatings market in 2017. Low-cure coatings are widely used in automobile bumpers, door handles, trailer hitches, wheels, grills, and roof racks in the automotive industry.
Global Low-cure Coatings Market: Trends & Developments
Low-cure coatings are used extensively across various applications in the automobile industry. Growth in global economy, rise in population, and increase in vehicle ownership are expected to boost the global low-cure coatings market during the forecast period. Most lightweight vehicles are manufactured using light weight metals such as aluminum, which require low-cure titania coatings to prevent corrosion and rust. Demand for low-cure coatings is also anticipated to increase owing to the growth in demand for lightweight vehicles across the world.
Low-cure coatings are not suited for thin film applications. This is a key factor restraining the low-cure coatings market. It is difficult to achieve thin finishes using low-cure coatings due to the tendency of polymers to thicken and form uneven textures.
Global Low-cure Coatings Market: Regional Outlook
Based on region, the global low-cure coatings market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of value, Asia Pacific is estimated to be a rapidly growing region of the global low-cure coatings market. China is projected to lead the low-cure coatings market in Asia Pacific during the forecast period. After China and Taiwan, India is likely to offer significant opportunities to the low-cure coatings market during the forecast period. Various organizations such as the Green Seal and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) have enacted restrictions on coatings that emit volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) in countries such as France, Italy, the U.S., Germany, and the U.K. This is driving the powder based segment of the low-cure coatings market in these countries.
Global Low-cure Coatings Market: Key Players
Key players operating in the global low-cure coatings market include The Valspar Corporation, Axalta Coating Systems, E.I. Dupont De Nemours and Company, Forrest Technical Coatings, Bowers Industrial and Specialty Polymer Coatings Inc., Platinum Phase Snd Bhd, Vitracoat America Inc, PPG Industries Inc, and Tulip Paints.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.