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Global Thermal Insulation Coating Market to Grow at a CAGR of 6.67% During 2024-2032, Driven by the Rising Research and Development Activities

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Thermal Insulation Coating Market

Global Thermal Insulation Coating Market Size, Forecast: By Product: Acrylic, Epoxy, Polyurethane, Yttria Stabilised Zirconia (YSZ), Mullite; By Application: Building and Construction, Automotive and Transportation, Aerospace and Defence, Manufacturing, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

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
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Thermal Insulation Coating Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Thermal Insulation Coating Historical Market (2018-2023) 
    8.3    Global Thermal Insulation Coating Market Forecast (2024-2032)
    8.4    Global Thermal Insulation Coating Market by Product
        8.4.1    Acrylic
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Epoxy
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Polyurethane
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Yttria Stabilised Zirconia (YSZ)
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Mullite
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
    8.5    Global Thermal Insulation Coating Market by Application
        8.5.1    Building and Construction
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Automotive and Transportation
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Aerospace and Defence 
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Manufacturing
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Others
    8.6    Global Thermal Insulation Coating Market by Region     
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America  Thermal Insulation Coating Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe  Thermal Insulation Coating Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5   Others
11    Asia Pacific Thermal Insulation Coating Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Thermal Insulation Coating Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Thermal Insulation Coating Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Price Analysis
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Evonik Industries AG
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Akzonobel N.V.
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Carboline Company.
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Nippon Paint Holdings Co., Ltd.
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Kansai Paint Co., Ltd.
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Others
18    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Thermal Insulation Coating Market: Key Industry Highlights, 2018 and 2032
2.    Global Thermal Insulation Coating Historical Market: Breakup by Product (USD Billion), 2018-2023
3.    Global Thermal Insulation Coating Market Forecast: Breakup by Product (USD Billion), 2024-2032
4.    Global Thermal Insulation Coating Historical Market: Breakup by Application (USD Billion), 2018-2023
5.    Global Thermal Insulation Coating Market Forecast: Breakup by Application (USD Billion), 2024-2032
6.    Global Thermal Insulation Coating Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Thermal Insulation Coating Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America Thermal Insulation Coating Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America Thermal Insulation Coating Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Europe Thermal Insulation Coating Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe Thermal Insulation Coating Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Asia Pacific Thermal Insulation Coating Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific Thermal Insulation Coating Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Latin America Thermal Insulation Coating Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America Thermal Insulation Coating Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Middle East and Africa Thermal Insulation Coating Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa Thermal Insulation Coating Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Global Thermal Insulation Coating Market Structure

Key Questions Answered in the Report

What was the global thermal insulation coating market size in 2023?

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

What is the growth rate of the market?

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

What is the forecast outlook of the market for 2024-2032?

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.

What are the major industry drivers?

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.

What are the key industry trends of the global thermal insulation coating market?

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.

What are the major regional markets of thermal insulation coating, according to the EMR report?

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

What are the different products considered within the market report?

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

What are the significant applications of the product?

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

Who are the key industry players, according to the report?

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.

Analyst Review

The global thermal insulation coating market attained a value of more than USD 9.76 billion in 2023, driven by the rising use of thermal insulation coating solutions across industry verticals. Aided by the rapid technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 6.67%. The market is projected to reach over USD 17.46 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product, the thermal insulation coating industry can be segmented into acrylic, epoxy, polyurethane, yttria stabilised zirconia (YSZ), and mullite. On the basis of application, the market is categorised as building and construction, automotive and transportation, aerospace and defence, manufacturing, and others. The major regional markets for thermal insulation coating are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Evonik Industries AG, Akzonobel N.V., Carboline Company, Nippon Paint Holdings Co., Ltd., and Kansai Paint Co., Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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