High Temperature Coatings Market Key Driving Factors Analysis Report By 2024

Felton, California , USA, June 17, 2021 — /EPR Network/ — The report on the High Temperature Coatings market report includes future industry Trends, Size, Share, Past, current data and deep analysis, and forecast. This market offers a coordinated and orderly methodology for the most important aspects that have influenced the market within the past and also the forthcoming market prospects on which the organizations can rely upon before investing. It furnishes with an affordable examination of the marketplace for better decision-making and assessment to place resources into it. The report analyses the weather and an entire detailed outlook of the most players that are likely to feature to the demand within the global High Temperature Coatings market within the upcoming years.

 

The market study additionally gives a to-the-point evaluation of the techniques and plans of action that are being executed by the manufacturers and firms to contribute to High Temperature Coatings market growth. A number of the foremost conspicuous measures taken by the organizations are partnerships, mergers & acquisitions, and collaborations to increase their overall reach. The key players are likewise presenting newer product varieties within the market to enhance the merchandise portfolio by embracing the new innovation and completing it in their enterprise.

 

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Industry Insight:

High temperature coating market was valued USD 3.27 billion in 2015 and is anticipated to achieve moderate growth globally over the forecast period. The demand for the market is increasing steadily owing to the growth of numerous end-use industries such as cookware and bake ware, construction, and metal processing.

 

High temperature coatings material can withstand a temperature of more than 150°C (302°F) while protecting against corrosion. Depending upon the level of temperature resistance required, coatings are composed of organic or inorganic materials such as epoxy, epoxy novolac, silicone, and epoxy phenolic. Fire proofing plays a vital part in buildings and other structures as it protects structured steel and other building parts.

 

However, the construction sector is hampered by the lack of synergy in building codes for different companies. Stable regulatory norms help the coatings manufacturers to enhance their investments in R&D.

 

Regulatory & government agencies such as UL, ANSI, NFPA, and ASTM issues guidelines and standards for testing and formulation of the coating ingredients. Fatal incidents due to fire outburst in industrial as well as in residential area which causes occupational injuries has led multiple revisions in safety policies to minimize the losses by integrating flame repulsive inorganic agents in materials of the coating. Properties to resist high temperature shown by phosphorous, silicon and halogen based products have made them quite significant.

 

Technology Insights

The liquid-based technology was the largest technology segment in 2015 which accounted for over 75%. The industrial trend is shifting towards non-solvent based technologies with the adoption of waterborne and powder based products in various sectors.

 

With minimum environmental impact due to low VOC content, surging demand for effective products is anticipated to drive waterborne high temperature coatings demand over the next eight years.

 

Strict ecological regulations for using solvent based products have led coating manufacturers to shift focus towards powder-based products. Powdered coatings are anticipated to be the fastest developing formulation technology by 2024.

 

Higher utilization rates and application ease are a major driver of powder coating market over the forecast period. This segment is expected for a net demand of over 95-kilo tons by 2024.

 

End-Use Insights

Around 16% of the total revenue in 2015 was generated from Energy & power sector which was the leading end-use segment. Growing concern towards equipment durability and downtime is expected to drive the demand for heat resistant coatings with enhanced color stability and corrosion resilience.

 

Metal processing segment was the second major end-use segment for coatings market in 2015. Demand in this segment has been increasing owing to increasing demand for metal equipment in the commercial and industrial sector.

 

Various applications include heavy equipment, machine and metal piping for agricultural, forestry, waste treatment facilities, and manufacturing. U.S. demand for the market in automotive sector was valued over USD 60 million in 2015 and is estimated to grow at a CAGR of 3.6% from 2016 to 2024. The coating protects from corrosion and acts as a thermal barrier on automobile components.

 

Regional Insights

Asia Pacific was the largest market and accounted for more than 35% of total volume in 2015. Steady growth in automotive & construction sectors especially in India, China, and Japan is anticipated to drive the demand in the region. European coatings accounted for more than 30% of the market in 2015 globally.

 

However, slow growth observed for numerous end-user such as aerospace, construction, and oil & gas, in the European region is anticipated to obstruct market and consequently, lose their share in the industry over the forecast period.

 

North America high temperature coatings market is anticipated to grow at a CAGR of 4.0% from 2015 to 2024. Increasing application of these products in major end-use industries including electronics, automobile, energy, and construction sectors have contributed significantly to the growth in this region. Renewal of reforms to incorporate thermally efficient materials and environment-friendly materials are expected to play a major role in steering product demand in the region.

 

Table of Contents:-

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 High Temperature Coatings: Market Variables, Trends & Scope

Chapter 4 High Temperature Coatings: Product Estimates & Trend Analysis

Chapter 5 High Temperature Coatings: Application Estimates & Trend Analysis

Chapter 6 High Temperature Coatings: End-use Estimates & Trend Analysis

Chapter 7 High Temperature Coatings: Industrial End-use Estimates & Trend Analysis

Chapter 8 High Temperature Coatings: Regional Estimates & Trend Analysis

Chapter 9 Competitive Landscape

Chapter 10 High Temperature Coatings: Manufacturers Company Profiles

 

Top Key Players of High Temperature Coatings Market:

Valspar Corporation, Carboline Company, General Magnaplate Corporation, Hempel AS, Chemco International, Whitford Corporation, Weilburger Coatings GmbH, Belzona International Ltd. and Aremco Products Inc.

 

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