Global Thermal Insulation Coating Market to Reach US$ 16.5 Billion by 2032, Propelled by the Increasing Adoption of Thermal Insulation Coatings in the Automotive Industry

December 08, 2022 | Chemical & Materials

The latest report by IMARC, titled “Thermal Insulation Coating Market Report by Product (Acrylic, Epoxy, Polyurethane, Yttria Stabilized Zirconia (YSZ), Mullite), Application (Building and Construction, Automotive and Transportation, Aerospace and Defense, Manufacturing, and Others), and Region 2024-2032”, finds that the global thermal insulation coating market size reached US$ 10.0 Billion in 2023. Thermal insulation coating refers to a liquid or semi-liquid suitable for application to a surface. It dries or cures while forming a protective finish and providing resistance to heat flow. This coating minimizes the rate of heat transferring from a room through a surface or substrate. It is applied by airless spraying to prevent various containers or structures from being exposed to moisture and extremely low or high temperatures. It minimized corrosion-under-insulation (CUI) by insulating and preventing corrosion on tanks, pipelines, ovens, processing vessels, and heat exchangers. It is widely used in refineries, tank farms, and other industrial facilities to withstand depressions, refineries, and hurricanes. In recent years, thermal insulation coating has gained momentum as it is extensively used in numerous industry verticals, including construction, manufacturing, automotive, defense, and aerospace.

Global Thermal Insulation Coating Market Trends:

One of the primary factors driving the market is the increasing adoption of thermal insulation coatings in the automotive industry to minimize heat loss from components of the engine exhaust systems, including downpipes, exhaust manifolds, exhaust headers, tailpipes, and turbocharger enclosures. Additionally, thermal insulation coatings are widely used in the manufacturing sector as they save energy, improve quality, and lower equipment operating costs, thus creating a positive market outlook. Other than this, this product is also used in the marine industry to resist the degradation and corrosion of numerous parts of ships. Besides this, the demand for acrylic thermal insulation coatings in various industries on account of their high tensile strength, clarity for transparency, and low cost is propelling the market growth. Furthermore, key players are extensively investing in research and development (R&D) activities to launch nanotechnology-based thermal insulation coatings and provide high thermal resistance and strength with lower thickness. Looking forward, IMARC Group expects the market value to reach US$ 16.5 Billion by 2032, expanding at a CAGR of 5.58% during the forecast period (2024-2032).

Market Summary:

  • Based on the product, the market has been divided into acrylic, epoxy, polyurethane, yttria stabilized zirconia (YSZ), and mullite.
  • On the basis of the application, the market has been segmented into building and construction, automotive and transportation, aerospace and defense, manufacturing, and others.
  • Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being Akzo Nobel N.V., Carboline Company, The Dow Chemical Company (Dow Inc.), Evonik Industries AG (RAG-Stiftung), Grand Polycoats Company Private Limited, Jotun, Kansai Paint Co. Ltd., Mascoat, Nippon Paint Holdings Co. Ltd., and Sika AG.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Akzo Nobel N.V., Carboline Company, The Dow Chemical Company (Dow Inc.), Evonik Industries AG (RAG-Stiftung), Grand Polycoats Company Private Limited, Jotun, Kansai Paint Co. Ltd., Mascoat, Nippon Paint Holdings Co. Ltd. and Sika AG.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Thermal Insulation Coating Market to Reach US$ 16.5 Billion by 2032, Propelled by the Increasing Adoption of Thermal Insulation Coatings in the Automotive Industry
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