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(I-AutoNewsWire.com, October 06, 2022 ) The report "Insulation Coatings Market is estimated to be USD 8.5 billion in 2020 and is projected to reach USD 11.3 billion by 2025, at a CAGR of 5.8% between 2020 and 2025. Protection of equipment, pipelines, and other components from harsh environments to make them energy efficient are the major drivers of the global insulation market during the forecast period.
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Insulation coating prevents the transfer of heat, sound, or electricity from one surface area to another. These coatings help in personnel protection, saves energy, and contribute to the improvement in the overall process efficiency. They are manufactured using various materials such as acrylic, epoxy, polyurethane, mullite and yttria stabilized zirconia (YSZ).
Insulation coatings are used in a wide range of applications such as building and construction, to create a heat/electrical barrier in aircraft components, insulating pipelines, storage tanks, engine turbines, marine vessels, industrial equipment, and automobile components.
The impact of COVID-19 pandemic on the insulation coatings market is negative in 2020, due to supply chain disruption, containment restrictions and the fall in demand for insulation coatings. Whereas the demand for insulation coating is expected to increase as the imposed restriction are removed.
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Browse in-depth TOC on "Insulation Coatings Market”
192 - Market Data Tables
31 - Figures
170 - Pages
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 is expected to account for the largest share of the market in APAC till 2025. The growing industrial activities, investment in end use industry of insulation material and labor costs in these countries are the main drivers for insulation coatings market.
Expansions, investment, and agreements were the key strategies adopted by the major players to achieve growth in the global insulation coatings market between 2017 and 2020. The key companies profiled in the insulation coatings market research report are AkzoNobel (Netherland), PPG Industries (United States), Sherwin-Williams Company (United States), Kansai (Japan), Jotun (Norway), Nippon Paint (Japan), Mascoat (Texas), Carboline (US), Sharp shell Industries (US), Axalta Coating System (US).
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Mr. Aashish Mehra