Dublin, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The "Thermal Insulation Coating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global thermal insulation coating market size reached US$ 8.74 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 12.98 Billion by 2027, exhibiting a CAGR of 6.81% during 2021-2027.
Companies Mentioned
- 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.
- Sika AG
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Thermal insulation coating reduces the rate of heat transferring from a room through a surface or substrate. It is applied by airless spraying to prevent different containers or structures from coming in contact with moisture and extremely low or high temperatures.
It reduces corrosion-under-insulation (CUI) by insulating and preventing corrosion on pipelines, tanks, ovens, processing vessels, and heat exchangers. It is used in tank farms, refineries, and other industrial facilities to withstand tropical storms, depressions, and hurricanes.
As a result, thermal insulation coating finds extensive applications in manufacturing, automotive, construction, aerospace, and defense industries across the globe.
Thermal Insulation Coating Market Trends:
At present, the growing utilization of thermal insulation coatings in the automotive industry to reduce heat loss from components of the engine exhaust systems, such as exhaust manifolds, downpipes, exhaust headers, turbocharger enclosures, and tailpipes, represents one of the key factors driving the market.
Moreover, key market players are investing in research and development (R&D) activities to introduce nanotechnology-based thermal insulation coatings and offering high strength and thermal resistance with lower thickness. They are also focusing on mergers and acquisitions (M&A) to expand their market position, which is positively influencing the market.
Besides this, the escalating demand for thermal insulation coatings in the manufacturing sector to save energy, enhance quality, and lower equipment operating costs are contributing to the growth of the market.
In addition, the rising utilization of thermal insulation coatings in the marine industry to resist corrosion and degradation of various parts of ships is offering lucrative growth opportunities to industry investors.
Apart from this, the increasing demand for acrylic thermal insulation coatings in various industries due to their lightweight, high tensile strength, clarity for transparency, and low cost is bolstering the growth of the market.
Key Questions Answered in This Report:
- How has the global thermal insulation coating market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global thermal insulation coating market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global thermal insulation coating market and who are the key players?
- What is the degree of competition in the industry?
Report Metrics
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value (USD) in 2021 | $8.74 Billion |
| Forecasted Market Value (USD) by 2027 | $12.98 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Thermal Insulation Coating Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Acrylic
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Epoxy
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Polyurethane
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Yttria Stabilized Zirconia (YSZ)
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Mullite
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Application
7.1 Building and Construction
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Automotive and Transportation
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Aerospace and Defense
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Manufacturing
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Region
9 SWOT Analysis
10 Value Chain Analysis
11 Porters Five Forces Analysis
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/yoc96x
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