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The global insulation coating materials market was valued at USD 8.95 Billion in 2018 & expected to reach USD 16.25 Billion by the year 2026, at a CAGR of 8.0%.
NEW YORK CITY, NY, UNITED STATES, October 14, 2021 /EINPresswire.com / -- Rising consumer awareness in respects to energy conservation, investments in environment-friendly insulation materials are major key factors which are driving the the global insulation coating materials market during the forecast period. Increasing industrialization and easy availability of raw materials is driving the demand of insulation coating materials globally. The insulation coating materials are barrier to heat, insulation coating materials is process done in various applications to maintain the temperatures changes. They maintain energy consumption and increases efficiency. Yttrium, Mullite is the conventional insulating coatings used for insulation. Insulation coating materials applied to weather exposed surfaces and can resist thermal shock absorptions. Insulation coating materials provide a longer shelf life to the substrates. Insulation coating materials are used in Buildings, factories, vehicles, theaters, hotels, Seminar Halls, etc. insulation coating materials have been uitlised in engine rooms, pipes and overheads and so on. Insulation coating materials are used for automotive industries. Insulation coating materials have high used in the petroleum refineries mainly used in the pipelines which carry crude and distillation products to the destinations. The increasing investments by oil and gas refineries have significantly benefitted the market for insulation coating materials. Additionally, with the expansion plans of refineries, is expected to drive the use ofinsulation coatings materials.
Key participants include:
du Pont de Nemours and Company, BASF SE, the 3M Company, Akzo Nobel N.V., The Sherwin-Williams Company, Hydro Protective Coatings, the Valspar Corporation, Sika AG, Protective Coatings International Ltd., and CSL Silicones Inc.
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Heat-Flex Hi-Temp 3500, the brand being one of the brands is a multi-purpose, single-component water-based, acrylic, spray-applied insulative coating. It contains an engineered composite of ceramic and silica microspheres to optimize thermal insulative properties.
Heat-Flex 3500 is a brand product ideal for coating everything from pipes, valves, tanks, vessels, heaters, and boilers to compressors, pumps, containers, stacks, and ductwork that operate in temperature ranges between -80° F and +350° F.
By Product Type:
Insulation prevents suffering shocks. Within the mind, resistance to electrical current is measured in ohms. Metals are good conductors as they have minimal resistance to the flow of electrical current. Good insulator, on the other hand, reacts with high strength to the flow of electrical current.
By End User:
Aerospace Industry has the highest CAGR of 8.9%. Followed by the automotive industry 7.5% CAGR. Insulation coating has tremendous applications in the construction industry, as well as in a real estate. Insulation has been done on the material, which often needed for the protection of the surface to provide heat protection.
Competitive Landscape:
The leading manufacturers in the insulation coating materials market are AkzoNobel, PPG Industries, The Sherwin-Williams Company, Kansai Paint CO., LTD., Jotun Group, Nippon Paint, Mascoat and others. Sherwin-Williams is one of the leading manufacturers of insulation coating materials globally. The company operates through its three business segments which are, The Americas group, consumer brands group, and performance coatings group. The company offers its Insulation coatings material products under the performance coatings group. It has a presence in North America, South America, the Caribbean, Europe, APAC, and Australia. The company manufactures coatings and specialty materials through its performance coatings and industrial coatings business segments.
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Further key findings from the report suggest
Insulation coating materials are growing at a CAGR of 7% in the Asia Pacific followed by North America and Europe, with 7.8% and 7.4% CAGR, respectively. These materials across the globe are the key factor to accelerate market growth during the forecast period across all regions.
The epoxy segment is the dominating this material holds 25% of the global market. North America market is the chief revenue-generating source for these
Polyurethane is expected to be the fastest-growing market segment during forecast period 2019-2026 with a CAGR of 9.4%.
The marine segment has the highest market share of 25% in these materials and was valued at USD 2.24 billion in 2018.
The aerospace segment has covered the highest market share by the highest CAGR of 8.9 in the global forecast period.
Asia Pacific segment is expected to register a market share 30% of the global materials Developing nations such China and India are likely to witness high growth
Changes in the demographic condition, regulation policy, will boost demand for these materials in the country.
For the purpose of this report, Reports and Data have segmented this materials market on the basis of type, end-use, and region:
By Type (Revenue in USD Million; Volume in Kilo Ton 2016–2026)
Acrylic
Epoxy
Polyurethane
YSZ
Mullite
By End-Use (Revenue in USD Million; Volume in Kilo Ton 2016–2026)
Aerospace
Automotive
Marine
Industrial
Building & Construction
Others
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Regional Outlook (Revenue in USD Million; Volume in Kilo Ton 2016–2026)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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