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Low Temperature Coatings Market: Overview

Low temperature coatings are two-component epoxy-based coatings. The low temperature coatings have the ability to cure down to 0°C. These coatings are used in cool weather conditions, where other coatings require adequate measures for curing purposes. Though the rate of corrosion at lower temperatures is much slower compared to the rate at other temperatures, still corrosion occurs. Some chiller rooms will have high humidity. The high humidity will accelerate corrosion. The low temperature coatings are capable of retaining flexibility and impact resistance to metals at shallow temperatures. They also provide low moisture permeability and maintain excellent dielectric and mechanical properties of the metallic substance.

The low temperature coatings are available in two variants, liquid, and powder, and are employed in many applications. These are more likely used to apply coatings to valves, pipes, fittings, welds, and many other components which exposed to lower temperatures. Whenever a metal product is placed in colder environments, there will be a need for low temperature coatings.

Low Temperature Coatings Market: Dynamics and Trends

The low temperature coatings are more eco-friendly compared to other coatings. They will also reduce the risk of volatile organic compound (VOC) emissions into the atmosphere. The eco-friendly nature of the low temperature coatings is determined to drive the low temperature coatings market. As the demand for environmentally friendly products across the world is increasing, the need for low temperature coatings is also expected to grow significantly.

The growing demand for low temperature coatings is driven by the increased employment of low temperature coatings across various industry verticals. These coatings are used in industry verticals like automotive, manufacturing, and others. The growing demand for the protection of components in all the industry verticals is giving an additional boost to the low temperature coatings market growth.

This market also provides a good number of opportunities to the new entrants into Asia Pacific and Europe region. As the automotive industry in these regions is growing at a rapid pace, the demand for low temperature coatings is also expected to rise.

Low Temperature Coatings Market: Segmentation

Regarding type, the low temperature coatings market has been divided into powder coatings and liquid coatings. The powder coatings are again bifurcated into thermoplastic and thermoset powders. The powder coatings segment is expected to have the largest share in the entire period as they are eco-friendly than liquid coatings. The powder coatings also emit less volatile organic compounds (VOC) than liquid coatings.

Regarding resin type, the low temperature coatings market can be segmented as epoxy, acrylic, polyurethane (PU), and others. Among all the resins, the acrylic resin is anticipated to be the fastest growing resin segment. The demand for acrylic resins primarily comes from the automotive, and paints and coatings, industries. The acrylic resins are used in wide range of applications, due to its chemical properties.

Based on end-user industry, the low temperature coatings market can be bifurcated into oil & gas, automotive, manufacturing, construction, and others. The automotive industry vertical is predicted to hold the highest market share. The increasing demand for the protection of automotive parts from corrosion is expected to drive this segment at a significant growth rate over the forecast period. The oil & gas industry is projected to compete with the automotive industry vertical regarding market size. The low temperature coatings are applied to pipelines where the pipes are exposed to very low temperatures.

Low Temperature Coatings Market: Regional Outlook

The North America region is predicted to be the major consumer and producer of low temperature coatings. As most of the regions of the United States, and Canada experience mostly very lower temperatures, the use of low temperature coatings is expected to be huge. This growing demand is also anticipated to grow in the coming years and make this region lead regarding consumption of low temperature coatings.

Geographically, the Asia Pacific region is determined to become the most mature market by the end of the forecast period. The increasing manufacturing units in this region is expected to drive the demand for low temperature coatings over the coming years. The growing automotive, and manufacturing industry verticals are expected to propel the demand for the low temperature coatings over the forecast period. Also, the tightening regulations towards the environmental conservation in countries like China, and India are expected to attribute to the growth of low temperature coatings market in the Asia Pacific region.

The growing automotive industry in Europe region accounted for the growth of Europe’s low temperature coatings market. In Europe, Germany is predicted to account for a significant share. The increasing automobiles in this region have created a high demand for low temperature coatings, thereby predicted to escalate this market in the coming years.

Low Temperature Coatings Market: Key Players

Some of the prominent players in this market include PPG Industries, Inc., DuPont, Bowers Industrial, Axalta Coating Systems, DSM, The Valspar Corporation, Specialty Polymer Coatings Inc., Phygen Coatings, Inc., Michelman, Inc., and Vitracoat America.

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
  • Europe
  • 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.

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Low Temperature Coatings Market

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