Insulation Coating Materials Market Forecast Analysis | 2022-2028

Market Insights

The insulation coating materials market was estimated at USD 9.1 billion in 2021 and is likely to grow at a CAGR of 5.7% during 2022-2028 to reach USD 13.45 billion in 2028.

Want to know more about the market scope: Register Here

What are insulation coating materials?

Components are coated with different materials for functional purposes. The coating protects components from harmful environmental effects. Insulation coating is a material that is used to block heat radiation by using a broad spectrum thermally reflective coating. Insulation coating is applied to many components in different industries, such as aerospace, automotive, marine, building & construction, and industrial.

Market Drivers

The major factors contributing to the growth of the market for insulation coating materials are-

• Increasing awareness of consumers about energy conservation,
• Government’s eco-friendly policies.

Want to have a closer look at this market report: Click Here.

Segments Analysis

By Product Type

Based on the product type, the market is segmented as acrylic, epoxy, polyurethane, YSZ, and mullite. The acrylic segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Acrylic coatings are applied with user-friendly spray equipment and are suitable for applications up to a temperature of 150ºC. Growth in industrialization and expanding manufacturing sector will fuel the demand for acrylic coatings for insulation.

By End-Use Industry

Based on the end-use industry type, the market is segmented as aerospace, automotive, marine, building & construction, industrial, and others. The marine end-use industry segment is likely to have the highest growth during the forecast period, as it provides corrosion resistance in a highly corrosion-prone marine environment.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for insulation coating materials during the forecast period, with India, China, and Australia being the major countries with lucrative growth opportunities, owing to growing industrialization in these emerging economies. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

Know which region offers the best growth opportunities. Click Here

Market Scope & Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

By Product Type

• Acrylic
• Epoxy
• Polyurethane
• YSZ
• Mullite

By End-Use Industry Type

• Aerospace
• Automotive
• Marine 
• Industrial
• Building & Construction
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Want to know the most attractive market segments? Register Here

Key Players

Some of the major insulation coating material manufacturers are-

• AkzoNobel
• PPG Industries
• Kansai Paint Co., Ltd
• Sherwin Williams Company
• Jotun Group
• Nippon Paint
• The Dow chemical company
• Cabot Corporation
• Nippon Pain Holdings company
• Axalta Coating System

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by end-use industry type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.