Global Thermal Insulation Coating Market 2017-2021

This industry research report identifies Akzo Nobel, Jotun, PPG Industries, The Dow Chemical Company, and The Sherwin-Williams Company as the key vendors in the global thermal insulation coating market. A comprehensive analysis of this market is also presented by product (YSZ, acrylic, epoxy, polyurethane, and mullite), by application (manufacturing, building and construction, automotive and transportation, aerospace and defense, and others), and by geography (the Americas, APAC, and EMEA).

Overview of the global thermal insulation coating market

According to Technavio’s research analysis, the rising demand for thermal insulation coating in automotive sector will be one of the major factors that will have a positive impact on the global thermal insulation coating market during the forecast period. One of the primary end-users of the thermal insulation coating is the automotive industry. Thermal insulation is increasingly used on engine compartments, roofs, floors, and underbody of the automobiles and is likely to raise its demand in the coming years. Moreover, the increase in temperature of batteries, sensors, and starter motors can disrupt their functionality in the automobiles, thermal insulation coating is used to prevent the heat from exhaust reaching these components. The engine performance effectively increases with the use of thermal insulation coating. This will increase the need for thermal insulation in the automotive industry. Our market research analysts predict that this market will grow at a CAGR of more than 7% by 2021.

APAC will be the major revenue contributor of the thermal insulation coating market throughout the forecast period. The rising need for thermal insulation from industries such as manufacturing, automotive and transportation, and building and construction from India, China, Japan, Indonesia, and the Philippines will drive the thermal insulation coating market in APAC.

Competitive landscape and key vendors  

The thermal insulation coating market consists of many global and regional vendors. The key players in this market are concentrating on M&A activities to remain competitive in the market. The competition in the thermal insulation coating market is expected to increase during the forecast period due to the rise in R&D activities based on technology and product development. The key vendors in this market compete in terms of price, economies of scale, operational cost, product quality, and innovation. The applications such as heat insulation coating in the manufacturing industries will also drive the heat insulation coating market during the forecast period. 

The leading vendors in the market are –

• Akzo Nobel
• Jotun
• PPG Industries
• The Dow Chemical Company
• The Sherwin-Williams Company

The other prominent vendors in the market are Cabot, Carboline, Grand Polycoats, KANSAI PAINT, The Bayou Companies, Mascoat, Nippon Paint, Sharpshell Industrial Solutions, Superior Products International, Synavax, and Tenaris.

Segmentation by product and analysis of the thermal insulation coating market

• YSZ
• Acylic
• Epoxy
• Polyurethane
• Mullite

During 2016, the YSZ segment accounted for the major shares of the thermal insulation coating market. Factors such as the high compatibility for high temperature and corrosive environments and increased usage in diesel and gas turbine engines will contribute to the growth of this industry segment in the coming years.

Segmentation by application and analysis of the thermal insulation coating market

• Manufacturing
• Building and construction
• Automotive and transportation
• Aerospace and defense

According to this market research report, the manufacturing segment will account for the maximum share of the thermal insulation coating market until 2021. The utilization of thermal insulation coatings in furnaces, ovens, kilns, and boilers in the manufacturing industries for improved energy efficiency and heat insulation will drive the growth of the market in this segment.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global thermal insulation coating market?
• What are the key market trends impacting the growth of the global thermal insulation coating market?
• What are the challenges to market growth?
• Who are the key vendors in the global thermal insulation coating market?
• What are the market opportunities and threats faced by the vendors in the global thermal insulation coating market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global thermal insulation coating market?

Technavio also offers customization on reports based on specific client requirement.