CHICAGO, Sept. 4, 2023 /PRNewswire/ -- The report "Insulation Coatings Market by Type (Acrylic, Polyurethane, Epoxy, Mullite, YSZ), End-Use Industry (Aerospace, Automotive, Marine, Industrial, Building & Construction), & Region (North America, APAC, Europe, South America, & MEA)-Global Forecast to 2028", is estimated to be USD 9.7 billion in 2022 and is projected to reach USD 14.4 billion by 2028, at a CAGR of 5.9% between 2023 to 2025. The insulation coatings market is driven by the protection of equipment, pipelines, and other components from critical environments to make them energy efficient.
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Acrylic-based insulation coating type is estimated to be the largest type of insulation coatings material
Acrylic-based insulation coatings are waterborne coatings and account for the largest share in the overall Insulation coatings market. They serve as a superior alternative to conventional insulation materials, valued for their low-maintenance qualities and effectiveness in preventing corrosion under insulation (CUI). These coatings are easily applicable using user-friendly spray equipment and are well-suited for temperature ranges up to 150°C (302°F), with certain formulations extending their suitability to temperatures of up to 177°C (350.6°F).
Industrial sector: the fastest-growing end-use industry for insulation coatings
Categorized by end-use industries, the insulation coatings market comprises five primary sectors: industrial, building and construction, aerospace, automotive, marine, and other applications. Among these, the industrial sector claims the largest share, with a primary application of thermal insulation. This usage facilitates reducing heat-related workplace injuries and promotes consistent temperatures for workers by minimizing heat dissipation from machinery. Additionally, these coatings assist in temperature control for chemicals and enhance workplace safety through electrical insulation, offering increased design versatility.
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APAC is estimated to be the largest market for insulation coatings and is also projected to register the fastest CAGR of 6.9% during the forecast period. China holds for the maximum market share of 45.0% in 2022 in the Asia Pacific region. The primary drivers for the insulation coatings market in this region include expanding industrial operations, investing in insulation material utilization across various industries, and the impact of labor costs in these countries.
The key companies profiled in the insulation coatings market research report are AkzoNobel (Netherland), PPG (US), Sherwin-Williams Company (US), Kansai Paint Co., Ltd. (Japan), Jotun Group (Norway), Nippon Paint Holdings Co., Ltd. (Japan), Axalta Coating System (US), Hempel (Denmark), Seal For Life Industries (US), Carboline (US), and Sharpshell Engineering (South Africa) and Others.
Browse Adjacent Market: Coatings Adhesives Sealants and Elastomers Market Research & Consulting
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