LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global high-temperature coatings market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global high-temperature coatings market will grow at a CAGR of over 4% during the forecast period. The growth in the automotive sector is a major factor driving the market’s growth.
The automotive industry is expected to grow at a stable pace during the forecast period. In the automotive industry, high-temperature coatings are widely used to protect vehicles from rust and deterioration, thereby providing vehicles with a long lifespan. It is usually applied on the undercarriage of vehicles where it is more exposed to harsh conditions such as high temperature, pressure, and moisture content.
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In this report, Technavio highlights the increasing demand for water-borne high-temperature coatings as one of the key emerging trends driving the global high-temperature coatings market:
Increasing demand for water-borne high-temperature coatings
There is a growing demand for water-borne high-temperature coatings mainly due to their compliance with stringent VOC emission control guidelines. The water-borne high-temperature coatings emit low levels of VOC and other hazardous air pollutants (HAPs). Furthermore, they provide better aesthetics and longer lifespan. In water-borne coatings, water is used to disperse the resin. This makes them environment-friendly and easy to apply. They generally contain 80% water, and the rest is composed of solvents such as glycol ethers. The manufacturers of water-borne high-temperature coatings are required to adhere to regulatory bodies in the US and Europe. As per the strict guidelines, water-borne coatings should only have VOC content less than 3.5 pounds per gallon of water.
“The rising demand for acrylic based water-borne coatings is another major trend in the market as they provide better performance, easy handling, and low VOC emission. The increase in the popularity of this product is due to certain advantages such as excellent aesthetic maintenance, high processability, and better productivity. The increasing popularity and demand for water-borne high-temperature coatings will present immense growth opportunities for the global high-temperature coatings market,” says a senior analyst at Technavio for research on paints, coatings, and pigments.
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Global high-temperature coatings market segmentation
This market research report segments the global high-temperature coatings market based on resin type (acrylic, epoxy, polyester, alkyd, and silicone) and key regions (the Americas, APAC, and EMEA).
APAC was the leading region for the global high-temperature coatings market in 2017, accounting for a market share of around 44%. The market share occupied by this region is anticipated to increase significantly during the forecast period.
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