Industry Overview of Thermal Insulation Coating Market
IMARC Group, a leading market research company, has recently releases report titled “Thermal Insulation Coating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global thermal insulation coating market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is Thermal Insulation Coating?
Thermal insulation coating serves to diminish the rate at which heat is transferred from a room via a surface or substrate. This coating is typically applied through airless spraying methods to safeguard numerous containers or structures from exposure to moisture and extreme temperatures, whether low or high. Thermal insulation coating effectively minimizes corrosion-under-insulation (CUI) on pipelines, tanks, ovens, processing vessels, and heat exchangers. Its application extends to tank farms, refineries, and other industrial facilities, enabling them to withstand adverse weather conditions such as tropical storms, depressions, and hurricanes. Consequently, thermal insulation coating finds extensive applications across several sectors, including manufacturing, automotive, construction, aerospace, defense, etc.
How Big Is the Thermal Insulation Coating Market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 9.4 Billion |
| Market Forecast in 2028 | US$ 13.8 Billion |
| Growth rate (2023 to 2028) | CAGR of 6.4% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What Are the Growth Prospects and Trends in The Thermal Insulation Coating Industry?
The thermal insulation coating market is primarily driven by the increasing adoption of the product in the automotive industry to reduce heat loss from engine exhaust system components such as exhaust manifolds, downpipes, exhaust headers, turbocharger enclosures, and tailpipes. Additionally, the inflating investments by leading market players in research and development (R&D) initiatives to introduce nanotechnology-based thermal insulation coatings, which offer high strength and thermal resistance while requiring lower thickness, are acting as significant growth-inducing factors. Moreover, the elevating product demand in the manufacturing segment to save energy, improve quality, and lower equipment operating costs is also positively influencing the market growth. Besides this, the escalating utilization of thermal insulation coatings in the marine industry to combat corrosion and degradation of various ship components and the growing need for acrylic thermal insulation coatings in multiple industries for their lightweight nature, high tensile strength, clarity for transparency, and cost-effectiveness are expected to bolster the market in the coming years.
What is included in market segmentation?
The report provides detailed segmentation of the global thermal insulation coating market based on based on product type, caliber, guidance, lethality, application and region.
Product:
- Acrylic
- Epoxy
- Polyurethane
- Yttria Stabilized Zirconia (YSZ)
- Mullite
Application:
- Building and Construction
- Automotive and Transportation
- Aerospace and Defense
- Manufacturing
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Akzo Nobel N.V., Carboline Company, The Dow Chemical Company (Dow Inc.), Evonik Industries AG (RAG-Stiftung), Grand Polycoats Company Private Limited, Jotun, Kansai Paint Co. Ltd., Mascoat, Nippon Paint Holdings Co. Ltd. and Sika AG.
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