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Insulation Coatings Market (Type - Acrylic, Polyurethane, Epoxy, Mullite, and YSZ; End-user - Construction, Industrial, Automotive, Aerospace, and Marine): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : December, 2020

  • Rep Id : CM00792

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on insulation coatings market provides in-depth analysis of segments and sub-segments in the global as well as regional insulation coatings market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional insulation coatings market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of global insulation coatings market. According to the report, the global insulation coatings market is projected to grow at a CAGR of 5.9% over the forecast period of 2020-2026.

 

Market Insight

Insulating materials have heat resisting properties, which obstructs the flow of heat through them. These materials can be used for different applications including construction chemicals, automotive components, paints, and coatings. Advancements in chemicals and materials have led to the development of insulating paints and coatings. Insulation coatings are applied to surfaces or substrates such as steel, wood, concrete, masonry block, brick, asphalt shingles, plastic, glass, canvas, and others, to provide them thermal resistance. Moreover, the insulation coatings vendors are developing innovative insulation coatings that can offer corrosion resistance, moisture or water resistance, and anti-microbial properties. The multi-functional insulation coatings are gaining traction in the market as demand for them is increasing among a variety of industries.

 

The concern over the spread of COVID-19 has had a severe effect on the insulation coatings market across the globe. COVID-19 pandemic affected the global insulation coatings market by hampering the production and demand, disrupting the supply chain, and affecting firms and the financial markets. The gap in the demand-supply is anticipated to hamper the operations of the flourishing insulation coatings industry. On the other hand, the profit of several market players has decreased due to the lower sale during the coronavirus outbreak. Shortage of raw materials is another major obstacle for the insulation coatings market during the pandemic. This, in turn, has reduced the production of insulation coatings during the pandemic. Furthermore, the lower production of polymers and resins in countries including China, Taiwan, India, and Japan has created a shortage in the global market. Other countries dependent on the import are facing a severe shortage of insulation coatings during the pandemic.

 

The growing construction sector is majorly supporting the growth of the market. The construction industry widely uses insulation coatings for various applications. Thus, the growing construction industry augments the growth of the insulation coatings market as they are the leading end-use industries. Moreover, higher government spending on infrastructure is further propelling the market growth. Governments, particularly in the developing countries are spending heavily on developing infrastructure to boost the nations’ economy. However, higher prices of raw materials are expected to hamper the market growth for insulation coatings. Nevertheless, the emergence of innovative coating materials and coating processes is anticipated to boost the market growth in the future. Several vendors have developed a different type of innovative insulation coatings that prevents the surfaces from various environmental factors including heat, cold, moisture, dust, and living organisms.

 

In terms of region, the global insulation coatings market is segmented into four regions including North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific was the largest market for the insulation coatings market generating the highest revenue in 2019. Moreover, the market is estimated to grow at the fastest rate over the forecast period of 2020-2026. A large population of consumers along with improving economic conditions is augmenting the market growth in the region. Furthermore, Europe was the second-largest market for insulation coatings in 2019. The market was estimated to grow at a decent CAGR over the forecast period of 2020-2026. The better economic conditions in the region coupled with higher production of automotive in the region are driving the European insulation coatings market.

 

Segment Covered

The report on global insulation coatings market covers segments such as type, and end-user. On the basis of type, the sub-markets include acrylic, polyurethane, epoxy, mullite, and YSZ. On the basis of end-user, the sub-markets include construction, industrial, automotive, aerospace, and marine.

 

Companies Profiled:

The report provides profiles of the companies in the market such as AkzoNobel NV, Axalta Coating Systems, LLC, Bayou Company, LLC, Carboline Company, Dow Silicones Corporation, Jotun Group, Kansai Paint Co., Ltd., Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., and Sherwin-Williams Co.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of insulation coatings market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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