DUBLIN--(BUSINESS WIRE)--The "Insulation Coating Materials Market by Type (Acrylic, Epoxy, Polyurethane, YSZ, and Mullite), End-Use Industry (Aerospace, Automotive, Marine, Industrial, Building & Construction), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The insulation coating materials market is estimated at USD 8.7 billion in 2018 and is projected to reach USD 12.5 billion by 2023, at a CAGR of 7.5% between 2018 and 2023.
The insulation coating materials market is driven by various factors, including increasing demand from end users due to its properties such as energy savings and prevention of corrosion. Lower thermal efficiency as compared with traditional insulation coatings and the high price of coating formulations are the restraints for the market.
The insulation coating materials market is expected to witness the highest growth in the marine end-use industry during the forecast period
The insulation coating materials market is driven by various factors, such as the need for energy saving, personnel protection, and surface protection in the marine industry. The marine environment is also prone to corrosion due to high moisture content. Insulation coating materials are used to provide a thermal barrier and anti-condensation capabilities for shipboard construction.
Corrosion under insulation has been a crude problem in the marine application, and insulation coating materials provide corrosion protection due to their low porosity as they form a film over the substrate.
The mullite segment is expected to register the highest CAGR in the insulation coating materials market during the forecast period
The mullite-based insulation coating materials have low density, high thermal stability, and can be used in severe chemical environments. Mullite is an important ceramic material because of its low density, high thermal stability, stability in severe chemical environments, low thermal conductivity and favorable strength, and creep behavior.
Mullite is much more oxygen-resistant than YSZ. In diesel engine applications, where the temperature variations across the coating are large, mullite is an excellent option, and this trend is expected to drive the market.
APAC is expected to register the highest growth rate during the forecast period
APAC is one of the most promising markets for insulation coating materials, due to the increase in investments in China, India, and other Southeast Asian countries. The demand for insulation coatings is increasing in the oil & gas, chemical, and power industries.
The APAC region is witnessing the industrial growth, which in turn, will fuel the demand for insulation coatings in the region. Growing innovation and development and rising demand in the industrial sector for improved products is directly affecting the increase in the use of insulation coating materials.
Market Dynamics
Drivers
- Energy Savings
- Prevention of Corrosion Under Insulation (CUI)
- Stringent Regulatory Policies
Restraints
- Low Thermal Efficiency
- Relatively Higher Price of Coating Formulations
Opportunities
- Developments in Emerging Markets
Challenges
- Competition With Traditional Insulation Materials
- Changing Product Specifications in High Heat Applications
Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Insulation Coating Materials Market
4.2 APAC: Insulation Coating Materials Market, By Type and Country
4.3 Insulation Coating Materials Market, By Type
4.4 Insulation Coating Materials Market, By End-Use Industry
4.5 Insulation Coating Materials Market: Major Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Porter's Five Forces Analysis
6 Insulation Coating Materials Market, By Type
6.1 Introduction
6.2 Acrylic
6.3 Epoxy
6.4 Polyurethane
6.5 Yttria Stabilized Zirconia
6.6 Mullite
6.7 Others
7 Insulation Coating Materials Market, By End-Use Industry
7.1 Introduction
7.2 Aerospace
7.3 Automotive
7.4 Marine
7.5 Building & Construction
7.6 Industrial
7.7 Others
8 Insulation Coating Materials Market, By Region
8.1 Introduction
8.2 North America
8.3 APAC
8.4 Europe
8.5 Middle East & Africa
8.6 South America
9 Competitive Landscape
9.1 Introduction
9.2 Competitive Scenario
10 Competitive Leadership Mapping, Insulation Coating Materials Market
10.1 Visionary Leaders
10.2 Innovators
10.3 Dynamic Differentiators
10.4 Emerging Companies
11 Company Profiles
11.1 Akzonobel
11.2 PPG Industries
11.3 The Sherwin-Williams Company
11.4 Kansai Paint Co. Ltd.
11.5 Jotun Group
11.6 Nippon Paint
11.7 Mascoat
11.8 Carboline
11.9 Sharpshell Industrial Solutions
11.10 Axalta Coating Systems
11.11 Other Players
11.11.1 Cabot Corporation
11.11.2 Synavax
11.11.3 Temp-Coat LLC
11.11.4 SK Formulations
11.11.5 Lincoln Industries
11.11.6 The Bayou Company LLC
11.11.7 SPI Coatings
11.11.8 Coolshield International Pty. Ltd.
11.11.9 Delta T & Protective Products
11.11.10 NPP Engineering
11.11.11 Excel Enterprise
11.11.12 Mathur Corr-Tech Pvt. Ltd.
11.11.13 General Coatings Manufacturing Corp.
For more information about this report visit https://www.researchandmarkets.com/research/b5b866/insulation?w=4
