I had a small but very successful powder coating business for 5/6 years out of my garage. So I'm coming at this from a powder coaters perspective.
You should not have to preheat an oven than size for 15 minutes. I'd expect up to temp within 5 minutes. Keep in mind when you throw in your parts and tray they are at room temp so it'll take a few minutes after having the door open to get back up to temp.
1st, I don't know what powder you are using, but unless you are using high temp powder (highly unlikely) you are baking too hot. 90% of powders cure at no more than 400' part temp. So, if your powder cures at 400' @ 10 minutes, your cure time starts when the part reaches 400', then the timer starts. This isn't a do or die rule, bake at 15-17 minutes and you'll be good. You won't hurt the powder by cooking at 450, but you're just running up your electric bill for no reason and obviously heating your material beyond its abilities.
2nd, others are right, your oven may indicate 450 degrees, but it may be off by 50 degrees. Get a laser temp gun from harbor freight and an oven thermometer to get a better idea where you are actually at inside the oven.
3rd, you can bake your powder at lower temps than indicated on the powder container. For instance if it says 400 degrees for 10 minutes (remember, this is after the part has reached 400 degrees, not from when you put it in the oven), you can lower the temp and bake for longer. Say you want to bake at 350 degrees, the run the cure time out to 20 or 25 minutes. With most powders you can do this down to around 275 or 300 IIRC. Time to temp scales can usually be had by powder manufacturers.
You will know when your powder has begun to bake when it flows out - or looks shiny and no longer like a powder. Don't worry about over baking your powder. Unless your are getting carried away and setting it under a 500 degree broiler for 30 minutes you aren't going to hurt it.
Free tip - baking on foil can create a cured bond between the part and the foil requiring you to trim off the foil. You can bake on corrugated cardboard just as easily. It will smell like straw burning. Keep an eye on it so you don't combust. I've never had cardboard combust when doing 400 @ 10 minute bakes. I used this primarily when doing bolt heads and other hardware. Just keep an eye on it until you get a feel for things.
HTH.