The global Thermal Insulation Coating market is forecasted to reach USD 13.12 Billion by 2027, according to a new report by Reports and Data. Manufacturing & industrial sector trends are expected to affect demand positively. Thermal insulation coatings minimize heat loss in specific appliances while increasing efficiency and reducing total maintenance costs. Thermal insulation coating has low thermal conductivity and high co-efficient properties, avoiding reflections of ambient lights and providing protection for workers. This decreases heat loss in different machines, increases their efficiency, and minimizes the total cost, thus driving growth in the industry.
A growing number of commercial buildings, renovation, and production of skyscrapers in the industrial, automotive, and marine sectors will further boost demand for heat barrier coatings in such applications. Government policies and legislation to improve the manufacturing industry and expand the use of energy-saving and environmentally friendly goods will enhance the size of the demand for the market.
Top Companies Operating in the Global Thermal Insulation Coating Market:
PPG Industries, Mascoat, Kansai Paint Co., Ltd., Grand Polycoats Company Pvt. Ltd., Sika AG, Evonik Industries AG, AkzoNobel, Nippon Paint Holdings, Carboline Company, and Sherwin-Williams Company
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Further key findings from the report suggest
- Epoxy has emerged as the fastest-growing commodity market in Europe and North America because it is free of volatile organic compounds. Strict environmental laws and legislation are expected to push the epoxy-based market.
- The market size of the acrylic-based thermal insulation coating can see substantial growth over the time frame. Increasing demand for an environmentally friendly commodity would fuel market growth because of its lightweight, low cost, high tensile strength, and clarity over other counterparts.
- Attributed to the growing building industry, North America led by Canada and the U.S. market share could witness steady growth. High demand from the aviation and marine industries, coupled with increased knowledge of the atmosphere, would drive development in the region's industry.
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Thermal Insulation Coating Market Segmentation
Product Outlook (Revenue, USD Billion; 2017-2027)
- Acrylic
- Epoxy
- Polyurethane
- Yttria Stabilized Zirconia (YSZ)
- Mullite
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Wholesale and Distributor Business Trend
- Retail Distribution Channel
Application Outlook (Revenue, USD Billion; 2017-2027)
- Building & Construction
- Automotive & Transportation
- Aerospace & Defense
- Manufacturing
- Others
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Thermal Insulation Coating market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Thermal Insulation Coating market.
The global Thermal Insulation Coating market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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