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.
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
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.
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.
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.
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.