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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Thermal Insulation Coating Market Outlook

The global thermal insulation coating market attained a value of more than USD 9.76 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.67% to reach over USD 17.46 billion by 2032.

Heightened Demand for Improved Coating Solutions Across Industry Verticals to Bolster the Thermal Insulation Coating Industry Growth

The industry is being driven by the growing use of thermal insulation coating in various industries. This can be attributed to the benefits offered by these coating solutions, such as corrosion resistance and improved energy efficiency. Additionally, the rapid technological advancements are expected to propel the market growth in the forecast period. In this regard, there has been an increase in the utilisation of eco-friendly products to produce thermal insulation coating solutions, due to which the industry is expected to observe a significant growth in the forecast period.

Global Thermal Insulation Coating Market

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The Asia Pacific to be One of the Major Regions in the Global Thermal Insulation Coating Industry

Geographically, the Asia Pacific is anticipated to be one of the leading regions in the thermal insulation coating industry and is expected to maintain its growth in the forecast years. This can be attributed to the increasing investments by the key market players in the research and development of improved coating solutions. Moreover, the easy availability of raw materials in the region is also predicted to offer lucrative opportunities for the market growth.

Thermal Insulation Coating Market Segmentation

Thermal insulation coatings are used to protect metal  based and other structural components from extreme elevated temperatures. These solutions provide several key advantages like they reduce stress and fatigue and increase the lifespan of the structure or a component. The coating prevents heat insulation by offering low heat conductivity and high efficiency.

Global Thermal Insulation Coating Market

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The major thermal insulation coating products available in the market are:

  • Acrylic
  • Epoxy
  • Polyurethane
  • Yttria Stabilised Zirconia (YSZ)
  • Mullite

The market can be broadly categorised, on the basis of application, into:

  • Building and Construction
  • Automotive and Transportation
  • Aerospace and Defence 
  • Manufacturing
  • Others

The EMR report looks into the regional markets of thermal insulation coating like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Rising Demand for Energy Conservation Solutions to Augment the Thermal Insulation Coating Industry Growth

The increasing demand for energy-efficient solutions across industry verticals is estimated to drive the market for thermal insulation coating. This can be attributed to the favourable properties of thermal insulation coating solutions. For instance, these solutions help in improving the performance, reducing the operational costs while also providing low heat conductivity and shock resistance. In addition, they are used in several end use industries like construction, building activities, automotive, manufacturing, and others. Moreover, the increased product demand in the construction industry in residential and commercial construction applications and the growing demand in the automotive industry are expected to aid the market growth in the coming years.

Global Thermal Insulation Coating Market

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Key Industry Players in the Global Thermal Insulation Coating Market

The report presents a detailed analysis of the following key players in the global thermal insulation coating market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Evonik Industries AG
  • Akzonobel N.V.
  • Carboline Company
  • Nippon Paint Holdings Co., Ltd.
  • Kansai Paint Co., Ltd.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Application
  • Region
Breakup by Product
  • Acrylic
  • Epoxy
  • Polyurethane
  • Yttria Stabilised Zirconia (YSZ)
  • Mullite
Breakup by Application
  • Building and Construction
  • Automotive and Transportation
  • Aerospace and Defence
  • Manufacturing
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Evonik Industries AG
  • Akzonobel N.V.
  • Carboline Company
  • Nippon Paint Holdings Co., Ltd.
  • Kansai Paint Co., Ltd.
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global thermal insulation coating market attained a value of more than USD 9.76 billion.

The market is projected to grow at a CAGR of 6.67% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach over USD 17.46 billion by 2032.

The major drivers of the industry, such as the rapid technological advancements, benefits offered by the product including reduced operation costs, and the growing investments by key players in product development, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the rising demand for energy conservation solutions and the increasing research and development activities.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The different products considered within the market report include acrylic, epoxy, polyurethane, yttria stabilised zirconia (YSZ), and mullite.

The significant applications include building and construction, automotive and transportation, aerospace and defence, manufacturing, and others.

The major players in the industry are Evonik Industries AG, Akzonobel N.V., Carboline Company, Nippon Paint Holdings Co., Ltd., and Kansai Paint Co., Ltd., among others.

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124