New
York City, 19 January 2019: The Report Thermal Insulation Coating Market is anticipated to reach
around USD 13,189 million by 2026. In 2017, the acrylic segment dominated the
global market, in terms of revenue. In 2017, Asia-Pacific accounted for the
majority share in the global thermal insulation coating market.
The rapid growth in the manufacturing,
construction, and automotive sectors majorly drives the growth of this market.
Growing need to save energy, improve performance, and reduce operation costs of
equipment supports the growth of the market. The increasing applications and
rising demand from industries such as aerospace & defense, automotive &
transportation, and industrial are expected to boost the market growth during
the forecast period. Increasing awareness regarding construction of green
and energy efficient buildings would accelerate the adoption of thermal
insulation coatings. New emerging markets, and technological advancements would
provide growth opportunities for thermal insulation coating market in the
coming years.
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Asia-pacific is expected to dominate
the global thermal insulation coating market during the forecast period. A
significant growth in the manufacturing, automotive, and construction sectors
has been registered over the past few years in China, India, and Japan, thereby
driving the growth of thermal insulation coating market. Low labor costs, easy
availability of raw materials, and need to improve operational efficiency in
different industries further support the market growth in the region. Leading
global players are expanding their presence in developing nations of China,
Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered
by these countries.
The various types of products included
in the report include acrylic, epoxy, polyurethane, Ytria Stabilized Zirconia,
and others. The acrylic segment dominated the market in 2017 owing to its
favorable properties such as high tensile strength, affordable cost, and light
weight. The epoxy segment is expected to grow at the highest CAGR during the
forecast period. Epoxy offers properties such as high resistance to heat and
abrasion, high strength and toughness. The increasing awareness regarding green
and energy-efficient buildings is expected to drive the growth of this market.
Competitive Landscape:
The well-known companies profiled in
the report include Nippon Paints, The DOW Chemical Company, Sharpshell
Industrial Solution, Evonik Industries AG, Sherwin-Williams Company, PPG
Industries, Inc., Kansai Paint Co., Ltd., Mascoat, Akzonobel N.V., and Grand
Polycoats Company Pvt. Ltd. among others. These companies launch
new products and collaborate with other market leaders to innovate and launch
new products to meet the increasing needs and requirements of consumers.
Read More: https://www.polarismarketresearch.com/industry-analysis/thermal-insulation-coating-market/
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