NEW YORK, United States, April 04, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Insulating Paints And Coatings Market By End-Use (Exterior, Interior, And Others), By Material Type (Epoxy, Acrylic, Mullite, Yttria-Stabilized Zirconia, Polyurethane, And Others), By End-User (Aerospace, Electrical, Marine, Building & Construction, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Insulating Paints and Coatings Market size & share was valued at approximately USD 9 billion in 2021. The market is expected to grow above a CAGR of 5.85% and is anticipated to reach over USD 13.75 billion by 2028.”
The report analyses the insulating paints and coatings market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global market.
Insulating Paints and Coatings Market Overview:
Insulating paints and coatings are a result of new technology developed to enhance thermal insulation offered by surfaces. They are different in characteristics as compared to traditional paints. Although insulating coatings are used as decorative items, the main purpose is to improve energy efficiency and reflect as much heat radiation as possible.
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These chemicals consist of high glass and ceramic microspheres that exhibit high thermal insulation along with low thermal conductivity. In most cases, insulating paints are applied to interior walls but in recent times, exterior insulating materials have also gained a high adoption rate. In the current modernized world, it is important to have structures that are made with insulating materials like coating or paints to prevent the structure from losing heat during low-temperature climates and heat retention during hot weather.
The R-value is an indication of insulation strength and insulating paints help to increase this value which directly translates to the performance level of the coating. The R-value is directly dependent on the thickness of the product and inversely proportional to the cross-sectional area and thermal conductivity. Thermal coatings are either semi-liquid or liquid that is suitable for application on surfaces that are 30 mils or less per coat.
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Key Insights from Primary Research
- As per the analysis, the insulating paints and coatings market share is likely to grow above a CAGR of around 5.85% between 2022 and 2028.
- The insulating paints and coatings market size was worth around US$ 9 billion in 2021 and is estimated to hit approximately US$ 13.75 billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on end-user segmentation, the interior was predicted to show maximum market share in the year 2021
- Based on material type segmentation, acrylic was the leading material in 2021.
- On the basis of region, Asia-Pacific was the leading revenue generator in 2021.
Competitive Players:
The report contains qualitative and quantitative research on the global insulating paints and coatings market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global insulating paints and coatings market include;
- PPG
- General Coatings Manufacturer Corp
- Nippon Paints
- Henry Company
- Axalta Coating System
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Industry Growth Drivers & Restraints:
The global insulating paints and coatings market is projected to grow owing to the increasing need for energy efficiency during current times in which energy consumption is at an all-time high and is projected to grow even further with rampant industrialization and urbanization of places.
The growing population, and rise in the number of commercial businesses along with residential places will further drive the demand for a constant supply of energy. The majority of the globe currently runs on non-renewable sources to generate the required energy.
There is a growing awareness amongst consumers about the future of energy availability given the pace it is currently being consumed which has resulted in demand for the adoption of different ways that can help improve energy efficiency and reduce energy wastage. Insulating paints and coating offer excellent ways of trapping heat energy as per requirement and are currently being heavily advertised across territories and increasing consumer databases. The global market is anticipated to benefit from the rising applications of these coatings in the space industry that exhibits the highest heat loading owed to the friction face when space shuttles re-enter the Earth’s atmosphere.
However, there may be certain roadblocks in the way. One of the major factors that could impact the growth trajectory is the presence of low-grade or fraudulent products in the market. Companies are also known to deceive consumers by promoting paints or coating materials as insulative. The Federal Trade Commission has ceased various companies on account of false advertisements.
Growing innovation may attract a larger consumer database in the global market but stringent government regulations could challenge the addition of new players in the coming years.
Insulating Paints and Coatings Market: Segmentation Analysis
The global insulating paints and coatings market is segmented into end-use, material type, end-user, and region.
Based on material type, the global market is divided into epoxy, acrylic, mullite, yttria-stabilized zirconia, polyurethane, and others. In 2021, the global market saw the highest rise in the acrylic segment. BPS, a building finishing service provider, is known for manufacturing water-soluble acrylic insulating paints. Traditional paints are known to reflect around 49% of the total heat whereas the company manufactures paints that can reflect up to 97% of the heat.
Based on end-user, the global market is divided into aerospace, electrical, marine, building & construction, and others. In 2021, the building & construction segment generated the highest revenue in the global market due to the high utilization of the product to paint over the interior of housing units along with exterior or building or construction sites. Growing demand for energy-saving in commercial and residential centers may help the segment generate more consumers during the next few years. As estimated, a good distribution of thermal coating or paint across the wall is capable of saving up to 40% of energy in heating or air-conditioning.
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Regional Analysis:
- Asia-Pacific to witness the highest growth in the coming years
Asia-Pacific is projected to grow at the highest rate in the global insulating paints and coatings market. China could contribute heavily to regional growth owing to the expansive chemical industry of the country which currently dominates the global market. The presence of skilled laborers at low cost and the presence of raw materials in large amounts may also act as a driving factor.
Growth in North America may be propelled by the gigantic oil & gas sector of the economy. As this sector is highly prone to corrosion, insulating coatings are most in demand to help tackle this concern.
Report Scope:
| Report Attributes | Report Details |
| Report Name | Insulating Paints and Coatings Market Research Report |
| Market Size in 2021 | USD 9 Billion |
| Market Forecast in 2028 | USD 13.75 Billion |
| Compound Annual Growth Rate | CAGR of 5.85% |
| Number of Pages | 199 |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Key Companies Covered | PPG, General Coatings Manufacturer Corp, Nippon Paints, Henry Company, Axalta Coating System, and others. |
| Segments Covered | By End-Use, By Material Type, By End-User and By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA) |
| Countries Covered | North America: U.S and Canada Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific Latin America: Brazil, Argentina, Chile The Middle East And Africa: South Africa, GCC, Rest of MEA |
| Base Year | 2021 |
| Historical Year | 2016 to 2020 |
| Forecast Year | 2022 - 2028 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Recent Industry Developments:
- In August 2022, a research collaboration between Japanese and French resulted in the creation of nanocomposite coating that can enhance the insulation properties of window glasses
- In September 2021, SolEpoxy announced the launch of busbar coating powder or insulating conductors in electric vehicles and their respective battery packs
The global insulating paints and coatings market is segmented as follows:
By End-Use
- Exterior
- Interior
- Others
By Material Type
- Epoxy
- Acrylic
- Mullite
- Yttria Stabilized Zirconia
- Polyurethane
- Others
By End-User
- Aerospace
- Electrical
- Marine
- Building & Construction
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key questions answered in this report:
- What is the market size and growth rate forecast for insulating paints and coatings industry?
- Which key factors will influence insulating paints and coatings market growth over 2022-2028?
- What will be the value of the insulating paints and coatings market during 2022-2028?
- Which region will contribute notably towards the insulating paints and coatings market value?
- Which are the major players leveraging the insulating paints and coatings market growth?
Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by End-Use, Material Type, End-User and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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