Market Insights
The insulation coating materials market was estimated at USD 9.1 billion in 2021 and is likely to grow at a CAGR of 5.7% during 2022-2028 to reach USD 13.45 billion in 2028.
Market Segments’ Analysis
Based on the product type, the market is segmented as acrylic, epoxy, polyurethane, YSZ, and mullite. The acrylic segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Acrylic coatings are applied with user-friendly spray equipment and are suitable for applications up to a temperature of 150ºC. Growth in industrialization and expanding manufacturing sector will fuel the demand for acrylic coatings for insulation.
Based on the end-use industry type, the market is segmented as aerospace, automotive, marine, building & construction, industrial, and others. The marine end-use industry segment is likely to have the highest growth during the forecast period, as it provides corrosion resistance in a highly corrosion-prone marine environment.
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for insulation coating materials during the forecast period, with India, China, and Australia being the major countries with lucrative growth opportunities, owing to growing industrialization in these emerging economies. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
What are insulation coating materials?
Components are coated with different materials for functional purposes. The coating protects components from harmful environmental effects. Insulation coating is a material that is used to block heat radiation by using a broad spectrum thermally reflective coating. Insulation coating is applied to many components in different industries, such as aerospace, automotive, marine, building & construction, and industrial.
Key Players
The supply chain of this market comprises raw material manufacturers, distributors, and users. Some of the key players in the Insulation Coating Materials Market are-
- AkzoNobel
- PPG Industries
- Kansai Paint Co., Ltd
- Sherwin Williams Company
- Jotun Group
- Nippon Paint
- The Dow chemical company
- Cabot Corporation
- Nippon Pain Holdings company
- Axalta Coating System
Why to invest in this report?
The present report provides critical insights into the market dynamics and enables strategic decision-making for the existing market players as well as those wanting to enter the market. This report provides market size information to assist with planning and deciding growth strategies. It also helps the users understand market dynamics to provide a deeper insight of industry competition and the supply chain.
The following are the key features of the report:
- Market composition: Outline, industry life cycle analysis, supply chain assessment
- Market situation assessment: Growth drivers and constraints
- Upcoming market trends and forecast assessment
- Competitive landscape and dynamics: Market share, Product portfolio, New product launches, etc.
- Attractive market segments and associated growth opportunities
- Strategic growth opportunities for the existing and new players
- Key success factors.
The Insulation Coating Materials Market is segmented by–
- Product Type
- End-Use Industry Type
- Region
Custom Research:
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