Portland, April 25, 2019 (GLOBE NEWSWIRE) -- Insulation coating materials restricts the transfer of heat and sound from one surface to other. The coatings play crucial role in operations carried out at high-temperature in various components such as marine vessels, automobile components, engine turbines and other industrial equipment. These coatings are generally made of ceramics including mullite and YSZ.
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Rising demand of insulation coatings from end-users owing to its various characteristics such as corrosion resistant and energy savings is the main factor primarily driving the market. For instance, marine industry is the major contributor in increasing demand of insulation coatings as the marine environment is prone to corrosion due to longer exposure to moisture content. These coatings offer a thermal barrier between surface and moisture and also imparts anti-condensation capabilities for shipboard construction. However, lower efficiency than the conventional insulation coating materials is acting as one of the major restraining factors for market growth during the forecast period.
The detailed segments and sub-segment of the market are explained below:
By Type: Acrylic, Epoxy, Polyurethane, Yttria Stabilized Zirconia, Mullite and others
By End-Use Industry: Aerospace, Automotive, Building & Construction, Marine, Industrial and others
The regional analysis of global insulation coating materials market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to rising demand of insulation coating materials in marine industries. Europe also contributes a satisfactory growth in the global insulation coating materials market due to increasing demand of energy efficient materials. Asia-Pacific is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 due to growth in end-user industries with wider application of insulation coatings in developing countries such as India, China and Japan.
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The major market player included in this report are Akzonobel, the Sherwin-Williams Company, PPG Industries, Kansai Paint Co., Ltd., Nippon Paint, Jotun Group, Carboline, Mascoat, Axalta Coating Systems, Sharpshell Industrial Solutions and Lincoln Industries.
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