Surfaces that witness a frequent change in temperature or face a high-heat environment are prone to surface breakage or corrosion. Most varieties of paints & coatings are not able to withstand 300-degree Fahrenheit temperatures, thereby creating demand for high-temperature resistant paints & coatings. These heat-resistant coating products are suitable for objects that are exposed to high temperatures, such as pipelines, exhaust pipes, heat shields, stoves, grills, and fireplaces chimneys. As the industrial process gets much more advance and more intricate, thereby is a demand for equipment that can withstand harsh conditions including heat and rapid temperature fluctuations.
According to UnivDatos Market Insights (UMI)’ research report “Global Heat Resistant Coating Market”, the market is expected to showcase a growth of around 5% during the forecast period. Large application areas, growing demand for the construction industry, and recovery in the automotive industry are some of the key attributable factors to the growth of the market.
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Based on form, the market is categorized into powder and liquid. Of both, liquid heat resistant coating accounted for a prominent share of the market and is expected to showcase significant growth over the forecast period. This can be ascribed to the easy handling and use of liquid paints over powder as a result consumers preferred liquid-based coatings.
Based on end-user, the market is categorized into automotive & transportation, consumer goods, building & construction, general industry, and others. Among these, automotive & transportation accounted for a prominent share of the market. This can be ascribed to the fact that paint surfaces that are exposed to high temperature like vehicle exhaust requires heat resistant coating to perform efficiently. Due to the large base of vehicles and the growing transportation industry, the segment is one of the largest consumers of heat resistant coating.
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Asia-Pacific accounted significant share of the market in 2020
Asia-Pacific accounted for a significant share of the market and is expected to showcase considerable growth over the forecast period. The large base of end-use industry and increasing industrial activity in the regional developing countries like India and ASEAN countries is contributing significantly to the growth of the market. Further, from a demand-side perspective, regional economies are increasingly investing in the development of infrastructure to meet the growing regional population demand. For instance, in October 2021, the Indian government launched the “Gati Shakti Master Plan”, a US$ 1.3 trillion (INR 100 lakh-crore) project for developing ‘holistic infrastructure’. This is further likely to fuel the market growth for heat resistant coating.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global heat resistant coating market include The Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Axalta Coating Systems LLC, Hempel A/S, Jotun A/S, Kansai Paints Ltd., Tikkurila Oyj, Nippon Paint Industrial Coatings Co. Ltd., and KCC Corporation. These companies are taking several strategic decisions to meet the growing demand and increase their market share.
“Global Heat Resistant Coating Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Market Segmentation:
1. By Resin Type (Silicone, Epoxy, Polyester, Acrylic, Modified Resins, and Others)
2. By Form (Powder and Liquid)
3. By End-User (Automotive & Transportation, Consumer Goods, Building & Construction, General Industry, and Others)
4. By Region (North America, Europe, Asia-Pacific, and Rest of World)
5. By Company (The Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Axalta Coating Systems LLC, Hempel A/S, Jotun A/S, Kansai Paints Ltd., Tikkurila Oyj, Nippon Paint Industrial Coatings Co. Ltd., and KCC Corporation)
Key questions answered in the study:
1. What are the current and future trends of the global Heat Resistant Coating industry?
2. How the industry has been evolving in terms of resin type, form, and end-user?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global heat resistant coating industry?
5. What are the customer orientation, purchase behavior, and expectations from the global heat resistant coating suppliers across various region and countries?
