Expansion was the Key Strategy Adopted by Major Players to Enhance their Presence in the Global Low Temperature Coating (Low Cure Coating) Market Between 2013 and 2016.
The global low temperature coating (low cure coating) market is projected to reach USD 5.13 Billion by 2021, at a CAGR of 6.7% from 2016 to 2021. Low temperature coating (low cure coating) has applications in various end-use industries such as automotive, industrial, heavy-duty equipment, architectural, and furniture. Increase in energy savings due to the reduction in cure temperatures and growing demand for low temperature coating (low cure coating) from industries such as heavy-duty equipment, and automotive in the Asia-Pacific are expected to boost the growth of the global low temperature coating (low cure coating) market.
Expansion was the key strategy adopted by major players to enhance their presence in the global low temperature coating (low cure coating) market between 2013 and 2016. This strategy accounted for a major share of all development strategies adopted by leading players during the above mentioned time period. Key players operating in the global low temperature coating (low cure coating) market include PPG Industries Inc. (U.S.), The Valspar Corporation (U.S.), Axalta Coating Systems (U.S.), Bowers Industrial (U.S.), Tulip Paints (India), Platinum Phase SDN BHD (Malaysia), VITRACOAT America, Inc. (U.S.), Forrest Technical Coatings (U.S.), and Specialty Polymer Coatings, Inc. (Canada) among others.
Besides expansions, new product launches, and mergers & acquisitions were other key strategies adopted by market players to enhance their market shares and expand their geographical reach.
In November 2016, PPG Industries Inc. launched POWERCRON electrocoat at FABTECH 2016, U.S. These coatings are available in different formulations to help OEMs use lightweight metals and achieve environmental compliance without compromising on corrosion resistance. In September 2015, PPG expanded its San Juan del Rio, Queretaro, Mexico, coatings manufacturing facility with an investment of USD 27 million to meet the rising demand for industrial coatings from the local customers and OEMs. The company focuses on serving the local automotive manufacturing industry with this expansion. New product launches and expansions are the key strategies adopted by PPG Industries Inc. to target potential customers. It has strategically concentrated on expanding its regional presence through expansions. PPG Industries Inc. is emphasizing on R&D activities to broaden its product portfolio and strengthen its presence in the global low temperature coating (low cure coating) market.
In January 2017, Axalta Coating Systems launched Alesta Lync, a Dry-On-Dry (DOD) powder coating for general industrial applications. Alesta Lync is energy efficient and provides protection against corrosion. In April 2016, the company expanded its powder coatings production capacity in Montbrison, France to serve its customers by improving lead times and providing greater flexibility. Axalta Coating Systems aims to increase its efficiency through a dedicated delivery service to serve its clients effectively. The company aims to leverage the extensive market expertise and excellent technical capabilities of its distributors to increase its product portfolio in various regions.
In April 2015, The Valspar Corporation expanded the production capability of Pipeclad powder products in France, Europe. Through this expansion, the company aims to meet the growing demand for industrial coatings worldwide. Valspar has well-recognized brands of low temperature coating (low cure coating) and has a strong operational network in the U.S., which, in turn, helps the company enhance its regional presence.
Related Reports:
Low Temperature Coating (Low Cure Coating) Market by Coating Type (Powder-Based, and Liquid-Based), Resin Type (Polyester, Epoxy, Polyurethane, Acrylic), End-Use Industry (Automotive, Industrial, Heavy-Duty Equipment, Architectural, Furniture), Region - Global Forecast to 2021
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