DUBLIN--(BUSINESS WIRE)--The "Insulation Coatings Market by Type (Acrylic, Polyurethane, Epoxy, Mullite, YSZ), End-Use Industry (Industrial, Building, and Construction, Aerospace, Automotive, Marine) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Insulation Coatings Market is Estimated to be USD 8.5 Billion in 2020 and is Projected to Reach USD 11.3 Billion by 2025, at a CAGR of 5.8%
Insulation coating prevents the transfer of heat, sound, or electricity from one surface area to another. These coatings help in personnel protection, saves energy, and contribute to the improvement in the overall process efficiency. They are manufactured using various materials such as acrylic, epoxy, polyurethane, mullite, and yttria stabilized zirconia (YSZ).
The acrylic segment is the largest type of insulation coating material market.
Acrylic-based Insulation coatings are waterborne coatings and account for the largest share in the overall Insulation coatings market. Acrylic-based Insulation coatings are the ideal replacement for traditional insulation materials and are used because of their ease of maintenance and ability to prevent CUI. These coatings can be applied with user-friendly spray equipment and are suitable for temperature applications of up to 150oC. Water-based acrylic Insulation coatings can operate up to 177oC.
The industrial segment is the fastest-growing Industry of the Insulation coating material market.
By end-use industry, the insulation coating material market is classified into five main end-use industry, namely industrial, building and construction, aerospace, automotive, marine and others. Industrial is the largest end-use industry for the insulation coating material. In the industrial sector, insulation coating is majorly used for thermal insulation.
These coatings are expected to prevent heat-related injuries in the workplace. The reduced dissipation of heat from industrial machinery maintains a suitable temperature at the workplace for workers. The thermal coating also helps in maintaining chemicals at a specific temperature. Electrical insulation coating helps in increasing design flexibility and raising the safety levels at the workplace.
APAC is estimated to account for the largest market share during the forecast period.
APAC is estimated to be the largest market for insulation coating material and is also projected to register the fastest CAGR of 6.9% during the forecast period. China is expected to account for the largest share of the market in APAC till 2025. The growing industrial activities, investment in end use industry of insulation material and labor costs in these countries are the main drivers for insulation coating material market.
The companies profiled in this market research report include AkzoNobel (Netherland), PPG Industries (United States), Sherwin-Williams Company (United States), Kansai (Japan), Jotun (Norway), Nippon Paint (Japan), Mascoat (Texas), Carboline (US), Sharp shell Industries (US), Axalta Coating System (US) and other leading companies in this market.
Market Dynamics
Drivers
- Increasing Need for Heat, Electricity, and Sound Insulation in Various Industries
- Implementation of Various Regulations Driving Consumption of Insulation Coatings
- Prevention of Corrosion Under Insulation (Cui)
Restraints
- Relatively High Price of Insulation Coatings
Opportunities
- Growing End-Use Industries in Emerging Markets
- Newer Application Areas for Insulation Coatings
Challenges
- Competition with Traditional Insulation
Companies Mentioned
- Akzonobel
- Axalta Coating Systems
- Cabot Corporation
- Carboline
- Coolshield International Pty., Ltd.
- Delta T & Protective Products
- Excel Enterprise
- General Coatings Manufacturing Corp.
- Jotun Group
- Kansai Paint Co., Ltd.
- Lincoln Industries
- Mascoat
- Mathur Corr-Tech Pvt. Ltd.
- Nippon Paint
- NPP Engineering
- PPG Industries
- Sharpshell Industrial Solutions
- SK Formulations
- SPI Coatings
- Synavax
- Temp-Coat LLC
- The Bayou Company, LLC
- The Sherwin-Williams Company
For more information about this report visit https://www.researchandmarkets.com/r/8j09y4
