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Thermal Insulation Coating Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

October 2023 | 139 pages | ID: TE2BA8CED0ECEN
IMARC Group

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Market Overview:

The global thermal insulation coating market size reached US$ 9.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.8 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

Thermal insulation coating reduces the rate of heat transferring from a room through a surface or substrate. It is applied by airless spraying to prevent different containers or structures from coming in contact with moisture and extremely low or high temperatures. It reduces corrosion-under-insulation (CUI) by insulating and preventing corrosion on pipelines, tanks, ovens, processing vessels, and heat exchangers. It is used in tank farms, refineries, and other industrial facilities to withstand tropical storms, depressions, and hurricanes. As a result, thermal insulation coating finds extensive applications in manufacturing, automotive, construction, aerospace, and defense industries across the globe.

Thermal Insulation Coating Market Trends:

At present, the growing utilization of thermal insulation coatings in the automotive industry to reduce heat loss from components of the engine exhaust systems, such as exhaust manifolds, downpipes, exhaust headers, turbocharger enclosures, and tailpipes, represents one of the key factors driving the market. Moreover, key market players are investing in research and development (R&D) activities to introduce nanotechnology-based thermal insulation coatings and offering high strength and thermal resistance with lower thickness. They are also focusing on mergers and acquisitions (M&A) to expand their market position, which is positively influencing the market. Besides this, the escalating demand for thermal insulation coatings in the manufacturing sector to save energy, enhance quality, and lower equipment operating costs are contributing to the growth of the market. In addition, the rising utilization of thermal insulation coatings in the marine industry to resist corrosion and degradation of various parts of ships is offering lucrative growth opportunities to industry investors. Apart from this, the increasing demand for acrylic thermal insulation coatings in various industries due to their lightweight, high tensile strength, clarity for transparency, and low cost is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global thermal insulation coating market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and application.

Breakup by Product:

Acrylic

Epoxy

Polyurethane

Yttria Stabilized Zirconia (YSZ)

Mullite

Breakup by Application:

Building and Construction

Automotive and Transportation

Aerospace and Defense

Manufacturing

Others

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles 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.

Key Questions Answered in This Report

1. What was the size of the global thermal insulation coating market in 2022?

2. What is the expected growth rate of the global thermal insulation coating market during 2023-2028?

3. What has been the impact of COVID-19 on the global thermal insulation coating market?

4. What are the key factors driving the global thermal insulation coating market?

5. What is the breakup of the global thermal insulation coating market based on the product?

6. What is the breakup of the global thermal insulation coating market based on the application?

7. What are the key regions in the global thermal insulation coating market?

8. Who are the key players/companies in the global thermal insulation coating market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL THERMAL INSULATION COATING MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY PRODUCT

6.1 Acrylic
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Epoxy
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Polyurethane
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Yttria Stabilized Zirconia (YSZ)
  6.4.1 Market Trends
  6.4.2 Market Forecast
6.5 Mullite
  6.5.1 Market Trends
  6.5.2 Market Forecast

7 MARKET BREAKUP BY APPLICATION

7.1 Building and Construction
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Automotive and Transportation
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Aerospace and Defense
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Manufacturing
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Others
  7.5.1 Market Trends
  7.5.2 Market Forecast

8 MARKET BREAKUP BY REGION

8.1 North America
  8.1.1 United States
    8.1.1.1 Market Trends
    8.1.1.2 Market Forecast
  8.1.2 Canada
    8.1.2.1 Market Trends
    8.1.2.2 Market Forecast
8.2 Asia-Pacific
  8.2.1 China
    8.2.1.1 Market Trends
    8.2.1.2 Market Forecast
  8.2.2 Japan
    8.2.2.1 Market Trends
    8.2.2.2 Market Forecast
  8.2.3 India
    8.2.3.1 Market Trends
    8.2.3.2 Market Forecast
  8.2.4 South Korea
    8.2.4.1 Market Trends
    8.2.4.2 Market Forecast
  8.2.5 Australia
    8.2.5.1 Market Trends
    8.2.5.2 Market Forecast
  8.2.6 Indonesia
    8.2.6.1 Market Trends
    8.2.6.2 Market Forecast
  8.2.7 Others
    8.2.7.1 Market Trends
    8.2.7.2 Market Forecast
8.3 Europe
  8.3.1 Germany
    8.3.1.1 Market Trends
    8.3.1.2 Market Forecast
  8.3.2 France
    8.3.2.1 Market Trends
    8.3.2.2 Market Forecast
  8.3.3 United Kingdom
    8.3.3.1 Market Trends
    8.3.3.2 Market Forecast
  8.3.4 Italy
    8.3.4.1 Market Trends
    8.3.4.2 Market Forecast
  8.3.5 Spain
    8.3.5.1 Market Trends
    8.3.5.2 Market Forecast
  8.3.6 Russia
    8.3.6.1 Market Trends
    8.3.6.2 Market Forecast
  8.3.7 Others
    8.3.7.1 Market Trends
    8.3.7.2 Market Forecast
8.4 Latin America
  8.4.1 Brazil
    8.4.1.1 Market Trends
    8.4.1.2 Market Forecast
  8.4.2 Mexico
    8.4.2.1 Market Trends
    8.4.2.2 Market Forecast
  8.4.3 Others
    8.4.3.1 Market Trends
    8.4.3.2 Market Forecast
8.5 Middle East and Africa
  8.5.1 Market Trends
  8.5.2 Market Breakup by Country
  8.5.3 Market Forecast

9 SWOT ANALYSIS

9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats

10 VALUE CHAIN ANALYSIS

11 PORTERS FIVE FORCES ANALYSIS

11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes

12 PRICE ANALYSIS

13 COMPETITIVE LANDSCAPE

13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
  13.3.1 Akzo Nobel N.V.
    13.3.1.1 Company Overview
    13.3.1.2 Product Portfolio
    13.3.1.3 Financials
    13.3.1.4 SWOT Analysis
  13.3.2 Carboline Company
    13.3.2.1 Company Overview
    13.3.2.2 Product Portfolio
  13.3.3 The Dow Chemical Company (Dow Inc.)
    13.3.3.1 Company Overview
    13.3.3.2 Product Portfolio
  13.3.4 Evonik Industries AG (RAG-Stiftung)
    13.3.4.1 Company Overview
    13.3.4.2 Product Portfolio
    13.3.4.3 Financials
    13.3.4.4 SWOT Analysis
  13.3.5 Grand Polycoats Company Private Limited
    13.3.5.1 Company Overview
    13.3.5.2 Product Portfolio
  13.3.6 Jotun
    13.3.6.1 Company Overview
    13.3.6.2 Product Portfolio
    13.3.6.3 SWOT Analysis
  13.3.7 Kansai Paint Co. Ltd.
    13.3.7.1 Company Overview
    13.3.7.2 Product Portfolio
    13.3.7.3 Financials
    13.3.7.4 SWOT Analysis
  13.3.8 Mascoat
    13.3.8.1 Company Overview
    13.3.8.2 Product Portfolio
  13.3.9 Nippon Paint Holdings Co. Ltd.
    13.3.9.1 Company Overview
    13.3.9.2 Product Portfolio
    13.3.9.3 Financials
    13.3.9.4 SWOT Analysis
  13.3.10 Sika AG
    13.3.10.1 Company Overview
    13.3.10.2 Product Portfolio
    13.3.10.3 Financials

LIST OF TABLES

Table 1: Global: Thermal Insulation Coating Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Thermal Insulation Coating Market Forecast: Breakup by Product (in Million US$), 2023-2028
Table 3: Global: Thermal Insulation Coating Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: Thermal Insulation Coating Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Thermal Insulation Coating Market: Competitive Structure
Table 6: Global: Thermal Insulation Coating Market: Key Players

LIST OF FIGURES

Figure 1: Global: Thermal Insulation Coating Market: Major Drivers and Challenges
Figure 2: Global: Thermal Insulation Coating Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Thermal Insulation Coating Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Thermal Insulation Coating Market: Breakup by Product (in %), 2022
Figure 5: Global: Thermal Insulation Coating Market: Breakup by Application (in %), 2022
Figure 6: Global: Thermal Insulation Coating Market: Breakup by Region (in %), 2022
Figure 7: Global: Thermal Insulation Coating (Acrylic) Market: Sales Value (in Million US$), 2017 & 2022
Figure 8: Global: Thermal Insulation Coating (Acrylic) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 9: Global: Thermal Insulation Coating (Epoxy) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Thermal Insulation Coating (Epoxy) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Thermal Insulation Coating (Polyurethane) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Thermal Insulation Coating (Polyurethane) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Thermal Insulation Coating (Yttria Stabilized Zirconia (YSZ)) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Thermal Insulation Coating (Yttria Stabilized Zirconia (YSZ)) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Thermal Insulation Coating (Mullite) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Thermal Insulation Coating (Mullite) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Thermal Insulation Coating (Building and Construction) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Thermal Insulation Coating (Building and Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Thermal Insulation Coating (Automotive and Transportation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Thermal Insulation Coating (Automotive and Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Thermal Insulation Coating (Aerospace and Defense) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Thermal Insulation Coating (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Thermal Insulation Coating (Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Thermal Insulation Coating (Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Thermal Insulation Coating (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Thermal Insulation Coating (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: North America: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: North America: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: United States: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: United States: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Canada: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Canada: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Asia-Pacific: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Asia-Pacific: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: China: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: China: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Japan: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Japan: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: India: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: India: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: South Korea: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: South Korea: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Australia: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Australia: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Indonesia: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Indonesia: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Others: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Others: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Europe: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Europe: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Germany: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Germany: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: France: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: France: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: United Kingdom: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: United Kingdom: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Italy: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Italy: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Spain: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Spain: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Russia: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Russia: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Others: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Others: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Latin America: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Latin America: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Brazil: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Brazil: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Mexico: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Mexico: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Others: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Others: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Middle East and Africa: Thermal Insulation Coating Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Middle East and Africa: Thermal Insulation Coating Market: Breakup by Country (in %), 2022
Figure 75: Middle East and Africa: Thermal Insulation Coating Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Global: Thermal Insulation Coating Industry: SWOT Analysis
Figure 77: Global: Thermal Insulation Coating Industry: Value Chain Analysis
Figure 78: Global: Thermal Insulation Coating Industry: Porter's Five Forces Analysis


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