$12.5 Billion Insulation Coating Materials (Acrylic, Epoxy, Polyurethane, YSZ, and Mullite) Market - Global Forecast to 2023

Dublin, Feb. 18, 2019 (GLOBE NEWSWIRE) -- The "Insulation Coating Materials Market by Type (Acrylic, Epoxy, Polyurethane, YSZ, and Mullite), End-Use Industry (Aerospace, Automotive, Marine, Industrial, Building & Construction), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering

The insulation coating materials market is estimated at USD 8.7 billion in 2018 and is projected to reach USD 12.5 billion by 2023, at a CAGR of 7.5% between 2018 and 2023.

The insulation coating materials market is driven by various factors, including increasing demand from end users due to its properties such as energy savings and prevention of corrosion. Lower thermal efficiency as compared with traditional insulation coatings and the high price of coating formulations are the restraints for the market.

The insulation coating materials market is expected to witness the highest growth in the marine end-use industry during the forecast period.

The insulation coating materials market is driven by various factors, such as the need for energy saving, personnel protection, and surface protection in the marine industry. The marine environment is also prone to corrosion due to high moisture content. Insulation coating materials are used to provide a thermal barrier and anti-condensation capabilities for shipboard construction. Corrosion under insulation has been a crude problem in the marine application, and insulation coating materials provide corrosion protection due to their low porosity as they form a film over the substrate.

The mullite segment is expected to register the highest CAGR in the insulation coating materials market during the forecast period.

The mullite-based insulation coating materials have low density, high thermal stability, and can be used in severe chemical environments. Mullite is an important ceramic material because of its low density, high thermal stability, stability in severe chemical environments, low thermal conductivity and favorable strength, and creep behavior. Mullite is much more oxygen-resistant than YSZ. In diesel engine applications, where the temperature variations across the coating are large, mullite is an excellent option, and this trend is expected to drive the market.

APAC is expected to register the highest growth rate during the forecast period.

APAC is one of the most promising markets for insulation coating materials, due to the increase in investments in China, India, and other Southeast Asian countries. The demand for insulation coatings is increasing in the oil & gas, chemical, and power industries. The APAC region is witnessing the industrial growth, which in turn, will fuel the demand for insulation coatings in the region. Growing innovation and development and rising demand in the industrial sector for improved products is directly affecting the increase in the use of insulation coating materials.

The leading players in the insulation coating materials market are AkzoNobel (Netherlands), PPG Industries (US), The Sherwin-Williams Company (US), Kansai Paint CO., LTD. (Japan), Jotun Group (Norway), Nippon Paint (Japan), and Mascoat (US).

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Insulation Coating Materials Market
4.2 APAC: Insulation Coating Materials Market, By Type and Country
4.3 Insulation Coating Materials Market, By Type
4.4 Insulation Coating Materials Market, By End-Use Industry
4.5 Insulation Coating Materials Market: Major Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Energy Savings
5.2.1.2 Prevention of Corrosion Under Insulation (CUI)
5.2.1.3 Stringent Regulatory Policies
5.2.2 Restraints
5.2.2.1 Low Thermal Efficiency
5.2.2.2 Relatively Higher Price of Coating Formulations
5.2.3 Opportunities
5.2.3.1 Developments in Emerging Markets
5.2.4 Challenges
5.2.4.1 Competition With Traditional Insulation Materials
5.2.4.2 Changing Product Specifications in High Heat Applications
5.3 Porter's Five Forces Analysis

6 Insulation Coating Materials Market, By Type
6.1 Introduction
6.1.1 Coatings Types Used in Personnel Protection
6.2 Acrylic
6.2.1 Ease of Maintenance and the Ability to Prevent CUI are Projected to Drive the Insulation Coating Materials Market
6.3 Epoxy
6.3.1 Increasing Usage in Electrical Applications is Driving the Insulation Coating Materials Market
6.4 Polyurethane
6.4.1 Increasing Usage in Industrial Segment and Building & Construction Industries to Boost the Demand for Insulation Coating Materials
6.5 Yttria Stabilized Zirconia
6.5.1 Increasing Demand From High-End Applications is Driving the Market
6.6 Mullite
6.6.1 Increasing Usage in Turbine and Diesel Engines is Driving the Demand for Insulation Coating Materials
6.7 Others

7 Insulation Coating Materials Market, By End-Use Industry
7.1 Introduction
7.2 Aerospace
7.2.1 Increasing Air Traffic and Increasing Aircraft Manufacturing Activity are Fueling the Market Growth
7.2.2 Global Commercial Aviation Industry Outlook
7.3 Automotive
7.3.1 Focus on Energy-Efficient Vehicles and an Increase in Vehicle Production to Have A Positive Impact on the Market
7.4 Marine
7.4.1 Personnel Protection
7.4.1.1 Increase in Shipbuilding Activity and Stringent Regulations From Imo are Contributing to the Market Growth
7.5 Building & Construction
7.5.1 Growing Urbanization and Increasing Demand for Energy-Efficient Buildings are Boosting the Demand for Insulation Coating Materials
7.6 Industrial
7.6.1 Personnel Protection
7.6.1.1 Implementation of Safety Regulations at the Workplace is Boosting the Demand for Insulation Coating Materials
7.7 Others

8 Insulation Coating Materials Market, By Region

9 Competitive Landscape
9.1 Introduction
9.2 Competitive Scenario
9.2.1 Expansion
9.2.2 New Product Launch
9.2.3 Acquisition

10 Competitive Leadership Mapping, Insulation Coating Materials Market
10.1 Visionary Leaders
10.2 Innovators
10.3 Dynamic Differentiators
10.4 Emerging Companies

11 Company Profiles

• Akzonobel
• Axalta Coating Systems
• Cabot Corporation
• Carboline
• Coolshield International Pty., Ltd
• Delta T & Protective Products
• Excel Enterprise
• General Coatings Manufacturing Corp
• Jotun Group
• Kansai Paint Co., Ltd.
• Lincoln Industries
• Mascoat
• Mathur Corr-Tech Pvt. Ltd.
• Nippon Paint
• NPP Engineering
• PPG Industries
• Sharpshell Industrial Solutions
• SK Formulations
• SPI Coatings
• Synavax
• Temp-Coat LLC
• The Bayou Company, LLC
• The Sherwin-Williams Company

For more information about this report visit https://www.researchandmarkets.com/research/28bmdt/12_5_billion?w=12

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                    Related Topics: Insulation , Paints and Coatings