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Global Heat Resistance Coatings Market Insight December 29, 2021 Comments

The heat resistance coatings is forecast to keep on increasing over the next four years. According to the World Knowledge Information (WKI) “Global Heat Resistance Coatings Professional Survey Report 2021, Forecast to 2026”,The increase of construction activities in the Asia Pacific region and the improvement of people’s awareness of fire-fighting equipment are the main factors driving the heat-resistant coating market.The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 5.33% base on WKI regression analysis model.

Analysts’ Viewpoint:

“Due to the strict restrictions on VOC content by some governments, it is difficult for the heat-resistant coating industry market not to be affected. It is suggested that industry participants seek technological breakthroughs to synthesize more environmentally friendly and safer products and seize the market.”said Selena, Senior analyst, Chemical & Material Market Research Center in WKI.

Market insight:

The wide application of heat-resistant coatings in industry and other fields supports the development of the global heat-resistant market. The adoption of trend leading innovation in the manufacture of heat-resistant coatings is also one of the main reasons to promote the development of the global heat-resistant coating market. In addition, heat resistant coatings can be used not only for new building plans, but also for the maintenance of old projects and buildings for commercial and residential purposes. With increasing attention to clean energy and building safety, stricter regulations are coming into force to renovate old buildings. This factor may increase the global demand for heat-resistant coatings.

However, the high labor cost and transportation cost are the main reasons that hinder the development of the global heat-resistant coating market. In addition, a large number of maintenance costs are one of the main reasons for the slowdown in the growth of the global heat-resistant coating market.

Competition Landscape:

The main market participants operating in the global heat resistance coatings market are AkzoNobel (Netherlands), PPG (US), Jotun (Norway), Sherwin-Williams (US), Hempel (Denmark), RPM International (US),Sika (Switzerland),Etex group (Belgium), Kansai Paints (Japan) ,Teknos and others.

Segmentation of Heat Resistance Coatings Market:

According to the type, the heat-resistant coating market can be divided into water-based, solvent-based, powder based and others. Water based technology occupies the largest share in the heat-resistant coating market. Water based technology is an ideal primer because they have good heat resistance and wear resistance. Due to the low toxicity and flammability caused by low VOC content and HAP emission, the demand for cost-effective products with minimal environmental impact surges, which is expected to promote the expansion of the water-based heat-resistant coating market in the forecast period. According to the application, the heat-resistant coating market can be divided into power and energy, automobile industry, aerospace and national defense industry, marine industry, construction and construction and others. Power and energy account for the largest share of the heat-resistant coating market. Heaters, furnaces, towers and pipelines used in oil refineries and chemical plants are exposed to high temperature and high temperature atmosphere. Increasing attention to equipment reliability and downtime is expected to increase the demand for corrosion-resistant heat-resistant coatings.

Heat Resistance Coatings Market: Regional Analysis

In terms of geography, the global heat resistance coatings market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.The Asia Pacific region dominates heat-resistant coatings and is expanding at a higher rate in the forecast period. Some of the main reasons for the expansion are emerging economies, transportation, increased foreign direct investment, low-cost labor, etc. The digital wave has driven the growth of the service industry, resulting in a surge in demand for office buildings and housing. However, the shortage of such infrastructure in these countries promotes the increase of construction activities in these countries and the expansion of the market scale of heat-resistant coatings. In addition, with the rapid industrialization process of the region (mainly China, Japan and India), due to the new innovation and technological progress in the region, the use of heat-resistant coatings and flammable fluid pipelines is increasing significantly, which promotes the increase of demand for heat-resistant coatings and the development of heat-resistant coating market in the region.

 

Cagr: 5.33%
Largest share area:Asia-Pacific
Largest share country:China