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Pulished Date April, 2021
ID: 8562
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Insulation Coating Materials Market By Type (Acrylic, Epoxy, Polyurethane, YSZ, Mullite), By End- Use (Aerospace, Automotive, Marine, Industrial, Building & Construction) & By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Global Forecast to 2026

Pulished: April, 2021
ID: 8562
Pages: 170

Insulating Coating Materials Market Size and Growth:

The global Insulating Coating Materials Market is anticipated to grow from USD 9.14 billion in 2021to an anticipated value of USD 14.27 billion by 2026, registering a CAGR of 7.84% during the forecast period 2021- 2026.

The market for insulating coating materials, used in marine segment and marking, engraving, has become a global concern. Insulating coating materials have resulted in increased investment in the disposal of insulating coating materials, schools, offices, trains and buses. However, insulation coating materials are complex and expensive, which has increased the demand for insulation coating materials in all regions, especially in the United States and Europe. Therefore, the growing popularity of street art is expected to fuel the demand for insulating coating materials. Insulating coating materials are paints, coatings, enamels or varnishes specially designed to avoid insulating coating materials. Insulating cladding materials made on walls equipped with insulating cladding materials can be easily removed. Insulating coating materials are applied to trains, bus stops, garbage cans, buildings and bridges. Depending on the type, these coatings can be classified as sacrificial, semi-permanent and permanent. The use of insulating coating materials differs depending on the end applications. The demand for insulating coating material products is primarily driven by the growth of the construction industry globally. The increase in construction activity in developed markets due to the increased need for smart buildings and modern architecture is likely to contribute to the global growth of these insulating cladding materials during the review period.

Recent Developments in the Insulating Coating Materials Industry:

  • In January 2020, Belzona is launching a thermal insulation barrier with “cool to touch” properties. CUI's corrosion protection and troubleshooting extends equipment life, reducing future replacement costs. In order to save energy costs and reduce waste, companies recognize the importance of insulating their equipment to prevent heat loss and increase efficiency, but this creates another problem, corrosion under insulation ( CUI).
  • In September 2019, Demilec launches aerosol foam insulation products for the Middle Eastern market Demilec, Inc., a subsidiary of Huntsman Corporation and one of the North American manufacturers of polyurethane foam insulation and coatings open and closed cell aerosol (SPF), announced the launch of various aerosol foam insulation products for the Middle East market and the opening of its aerosol foam technical application and training center in Dubai.
  • In July 2019, Archroma launches the latest coating technology. Archroma, the world leader in specialty chemicals and color towards sustainable solutions, presented at the recent ITMA exhibition its new Lurapret®N5396 & N5392 liq, a very low VOC polyurethane (PU) polymer coating technology based on 'water.

Drivers in the Insulating Coating Materials Market

Growing demand for insulating coatings around the world is expected to drive the growth of the global insulating coatings market. It is energy efficient in nature and is capable of operating at various temperatures, which influences the growth of the market in the near future. Increased consumer awareness of energy conservation is also increasing the growth of the market. Increased government support and increased investment in environmentally friendly insulating materials are expected to boost the global insulating coatings market. Other factors responsible for the growth of the market are the easy availability of raw materials, stable economic growth, and rapid population growth.

Restraints in the Insulating Coating Materials Market

The cost of insulating coatings is higher because surface preparation is required prior to application to prevent corrosion. This process can also involve preparation and hardening. Thermal spray technology is used to coat ceramic tiles at high temperatures. Thermal spray technologies are more expensive. Some coatings require process downtime which can also increase costs. All of these factors increase the demand for traditional thermal insulation because it is cost-effective. Traditional insulation systems such as fiberglass and mineral wool are used and have been shown to perform better than insulation coatings. The existing insulating coatings are relatively more expensive. The technology used for coating application is also expensive, making the whole coating process very expensive. At present, there are no competitively priced products on the market that have a level of efficiency similar to that of traditional insulation materials.

Insulating Coating Materials Market Segmentation

Insulating Coating Materials Market By Type

  • Acrylic
  • Epoxy
  • Polyurethane
  • YSZ
  • Mullite

Acrylic segment occupied the largest share of thermal insulation coatings market in 2019. Acrylic has properties such as lightness, high tensile strength, clarity for transparency and low cost per compared to other substitutes which make it suitable for various industries. . Acrylic's lighter weight also makes it easier to use and transport. Acrylic is also an advanced fluid applied thermal insulating coating that utilizes airgel particles which give various substrates exceptional insulating properties. It is ideal for insulating pipes, pumps, tanks, structural steel or other substrates where there is a desire for thermal improvement or personnel safety. Part of a robust, corrosion resistant coating system that adheres to the substrate, dramatically reducing problems associated with insulation corrosion and minimizing thermal bridges by controlling condensation.

Epoxies are used in building and construction due to properties such as excellent abrasion, heat and UV resistance, toughness and improved dimensional stability. It is free from volatile organic compounds (VOCs), which makes it suitable for low-consumption buildings and improves indoor air quality. In addition, the increasing demand for green buildings is expected to create high growth potential for this product segment during the forecast period.

Insulating Coating Materials Market - By End- Use 

  • Aerospace
  • Automotive
  • Marine
  • Industrial
  • Building & Construction

The escalating in applications of insulating coatings in the automotive industry and OEMs is anticipated to create a strong call for these products as they help improve overall vehicle performance by reducing heat loss and fuel consumption of energy.

Equipment and machines operating at different temperatures require thermal barrier coatings to operate at optimum levels. The growing preference for products capable of withstanding high temperatures is expected to drive growth in the manufacturing segment. Manufacturing emerged as the most important application, accounting for over 34% market share in 2019. Growth is expected in the manufacturing sector, due to various government initiatives such as Make in India, One Belt One Road and Buy American Hire American. to stimulate industry growth.

Advances in automotive technology, along with rising disposable income and living standards, are expected to boost the industry. These coatings are used on roofs to control cabin temperature to increase HVAC efficiency, resulting in better fuel economy and less pollution. Insulating coatings are used in the aerospace and defense industry for various applications such as aerodynamic fairings, exhaust systems, heat shields, firewalls, infrared extinguishing systems, and firewalls gimbal operating at uneven temperatures. These coatings are used to control the operating temperature, ensuring reduced energy loss and superior performance. In addition, they are also used significantly in defense equipment due to their characteristics of providing high-temperature resistance as well as significant corrosion protection under insulation.

Insulating Coating Materials Market Regional Analysis:

The demand for insulation coatings is highest in the Asia-Pacific region. China is the main consumer of insulating coatings. The developing manufacturing industry in this region is driving the growth of the global insulating coatings market. Emerging economies like China and India will experience significant growth in the coming years due to increased spending on infrastructure. The growth and development of end-use industries and the development of new products are some of the factors that are expected to drive the growth of the global market in North America. The maritime and aerospace industries have opened up lucrative growth opportunities in Europe, thus anticipating the growth of the global insulating coatings market. The increase in R&D spending to introduce innovative products has had a positive influence on the market. The favorable regulatory scenario in Latin America is driving the growth of the global market.

Insulating Coating Materials Market Key players:

The key companies profiled in the insulation coating materials market research report are 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).

COVID – 19 Impact on Insulating Coating Materials Market

Since the COVID-19 virus outbreak in December 2019, the disease has spread to nearly 120 countries around the world and the WHO has declared it a public health emergency. The global impacts of the 2019 coronavirus disease are already starting to be felt and will significantly influence the insulation coating materials market in 2020. COVID-19 can affect the world economy in 3 key ways: directly attacking production and call, creating disruption in the supply chain and market, and through its financial impact on businesses and financial markets.

 

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

2. Research Methodology                                           

                2.1 Introduction                               

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Econometric Modelling      

                                2.2.4 Expert Validation  

                2.3 Analysis Design                         

                2.4 Study Timeline                          

3. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)                                    

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

5. Market Segmentation                                              

                5.1 Type                              

                                5.1.1 Introduction           

                                5.1.2 acrylic        

                                5.1.3 epoxy        

                                5.1.4 others       

                                5.1.5 Y-o-Y Growth Analysis, By Type     

                                5.1.6 Market Attractiveness Analysis, By Type   

                                5.1.7 Market Share Analysis, By Type     

                5.2 end-use industry                     

                                5.2.1 Introduction           

                                5.2.2 automotive             

                                5.2.3 construction           

                                5.2.4 others       

                                5.2.5 Y-o-Y Growth Analysis, By end-use industry             

                                5.2.6 Market Attractiveness Analysis, By end-use industry           

                                5.2.7 Market Share Analysis, By end-use industry            

6. Geographical Analysis                                              

                6.1 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Type

                                                6.1.3.3 By end-use industry

                                                6.1.3.4 By Indication

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Type

                                                6.1.4.3 By end-use industry

                                                6.1.4.4 By Indication

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Type

                                                6.1.5.3 By end-use industry

                                                6.1.5.4 By Indication

                6.2 North America                          

                                6.1.1 Introduction           

                                6.1.2 United States         

                                6.1.3 Canada     

                6.3 Europe                         

                                6.2.1 Introduction           

                                6.2.2 U.K             

                                6.2.3 Spain         

                                6.2.4 Germany 

                                6.2.5 Italy            

                                6.2.6 France       

                6.4 Asia-Pacific                 

                                6.3.1 Introduction           

                                6.3.2 China         

                                6.3.3 India          

                                6.3.4 Japan         

                                6.3.5 Australia   

                                6.3.6 South Korea           

                6.5 Latin America                             

                                6.4.1 Introduction           

                                6.4.2 Brazil          

                                6.4.3 Argentina

                                6.4.4 Mexico     

                                6.4.5 Rest of Latin America          

                6.6 Middle East & Africa                               

                                6.5.1 Introduction           

                                6.5.2 Middle-East            

                                6.5.3 Africa         

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                7.2 Porter’s Five analysis                              

                                7.2.1 Bargaining Power of Suppliers        

                                7.2.2 Bargaining Power of Consumers    

                                7.2.3 Threat of New Entrants     

                                7.2.4 Threat of Substitute Products and Services              

                                7.2.5 Competitive Rivalry within the Industry     

8. Market Leaders' Analysis                                        

                8.1 Mascoat          

                                8.1.1 Overview 

                                8.1.2 Product Analysis   

                                8.1.3 Financial analysis  

                                8.1.4 Recent Developments       

                                8.1.5 SWOT analysis       

                                8.1.6 Analyst View          

                8.2 PPG Industries, Inc                  

                8.3 The Sherwin-Williams Company                        

                8.4 The Dow Chemical Company                              

                8.5 Akzo Nobel                 

                8.6 Kansai Paint Co                         

                8.7  Jotun                            

                8.8 Nippon Paint Holdings Co., Ltd                           

                8.9 Carboline Company                                

                8.10 Sharpshell Industrial Solutions                         

9. Competitive Landscape                                           

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

10. Market Outlook and Investment Opportunities                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures                              

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of by type,by end user,along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Insulation Coating Materials  Market By Region, From 2021-2026( USD Billion )

  2. Global Insulation Coating Materials  Market By Type, From 2021-2026( USD Billion )

  3. Global acrylic Market By Region, From 2021-2026( USD Billion )

  4. Global epoxy Market By Region, From 2021-2026( USD Billion )

  5. Global others Market By Region, From 2021-2026( USD Billion )

  6. Global Insulation Coating Materials  Market By end-use industry, From 2021-2026( USD Billion )

  7. Global automotive Market By Region, From 2021-2026( USD Billion )

  8. Global construction Market By Region, From 2021-2026( USD Billion )

  9. Global others Market By Region, From 2021-2026( USD Billion )

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