Insulating Paints And Coatings Market Size, Share, Growth Report 2030

Insulating Paints And Coatings Market

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

Category: Chemical & Materials Report Format : PDF Pages: 190 Report Code: ZMR-2072 Published Date: Nov-2022 Status : Published

The global insulating paints and coatings market size was worth around USD 9 billion in 2021 and is predicted to grow to around USD 13.75 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5.85% between 2022 and 2028.

Insulating Paints And Coatings Market

Industry Prospective:

The global insulating paints and coatings market size was worth around USD 9 billion in 2021 and is predicted to grow to around USD 13.75 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5.85% between 2022 and 2028. The report analyzes the global insulating paints and coatings market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the insulating paints and coatings market.

Insulating Paints And Coatings Market: Overview

Insulating paints also referred to as thermal paints, are ornamental coatings over a given surface to enhance their thermal capabilities or performance. They are mostly available in two forms, namely: interior and exterior coatings. Although the final goal of both forms is the same, the process through which they achieve the desired outcome varies, which is the main distinction between the two types of insulating paints.

The decorative chemicals are specially designed and differ from regular paints or coating since they assist in heat transfer reduction and aid the increase of the thermal insulating property also called R-value. The technology involved to create insulative paints uses a wide range of thermal reflective coating along with a specific type of micro-spheres that allow the blocking of heat radiation in a larger section of heat energy resulting in rapid heat dissipation.

Insulating paints or coating function bi-directionally which means that these chemicals reflect heat coming from both directions toward the surface that is painted over. One such example includes the exterior barrier of a building on which insulating coatings or paints are applied to. The true quality of the adorning paints is measured by their ability to block or reflect heat coming from various sources including sunlight, radiators, heaters, and fireplaces.

Key Insights 

  • As per the analysis shared by our research analyst, the global insulating paints and coatings market is estimated to grow annually at a CAGR of around 5.85% over the forecast period (2022-2028)
  • In terms of revenue, the global insulating paints and coatings market size was valued at around USD 9 billion in 2021 and is projected to reach USD 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

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Insulating Paints And Coatings Market: Growth Drivers

Prevention against corrosion to act as a major growth driver

The global insulating paints and coatings market is projected to grow owing to the ability of the materials to provide excellent protection against corrosion, which is one of the most commonly occurring problems in chemicals, oil & gas, and building & construction industries. Corrosion of pipelines or large structures is a critical issue that almost all market players have to deal with.

As per official estimates, in the oil & gas industry, the annual loss of revenue due to corrosion is over USD 61 billion with the United States contributing more than USD 27.5 billion. Hence business leaders must invest heavily in protection against the deterioration of structures including bridges, steel-reinforced units, highways, and electrical towers to name a few. Since insulating paints and coatings are one of the most effective and cost-efficient ways to deal with this issue, they are highly recommended and have a significant hold as compared to substitutes.

Insulating Paints And Coatings Market: Restraints

Fluctuating prices of raw materials may restrict market expansion

The global market is anticipated to face restricted growth due to constantly changing prices of raw materials affecting the final cost of the goods. Increasing oil prices which impact the transportation cost of goods may also cause hindrance in the otherwise steady growth graph. The performance of insulating paints and coatings depends on the quality of the product and owing to the changing prices, small or midsize players sometimes tend to miss out on the quality benchmark which could cause a loss of consumers.

Insulating Paints And Coatings Market: Opportunities

Growing innovation to attract a larger consumer database

The global insulating paints and coatings market is witnessing the adoption of advanced technologies to deliver better-yielding products. The use of nanotechnology to meet the growing demand for high-quality products is expected to pave a new way for global market expansion in the coming years. Increasing investments in research & development along with the addition of new players assisted by increasing collaboration across small to large-size firms may create higher and better growth opportunities in the coming years.

Insulating Paints And Coatings Market: Challenges

Stringent government regulations to challenge the addition of new players

Government regulations regarding the use of insulating paints and coatings differ across regions since these materials are made of chemical products. Every nation or region has its own set of rules to determine the extent of use of these chemicals that acts as a barrier against the addition of new players or entry of international business in local markets. Competition with domestic businesses is an added concern for interested parties from other countries.

Insulating Paints And Coatings Market: Segmentation

The global insulating paints and coatings market is segmented into end-use, material type, and region

Based on end-use, the global market segments are exterior, interior, and others. In 2021, the interior segment dominated the global market with the highest share owing to the high awareness rate along with the presence of multiple players offering services across price ranges, thus increasing the product’s availability. Exterior paints or coatings are used on the exterior walls of a building or site. A critical and sensitive point to be registered while using exterior coatings is that dampness of 5% in walls can lead to a 50% decline in the insulating performance value of the material that is used. External walls cause almost 35% loss of energy and hence insulating coatings are recommended for higher energy efficiency.

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.

Recent Developments:

  • In January 2021, Hempel, a dominating market supplier of products and services in the coating industry acquired insulation coating technology developed by a German-English company called Das Lack Enertherm (DLE). The new technology will help the company change dynamics in the coating market along with assistance in improving worker’s safety while also reducing the carbon footprint
  • In March 2022, Omnis Panel LLC entered a collaboration with Zenovo Group PLC, a heat management technology and innovative fire safety provider to help Zenovo distribute its products in the United States market

Insulating Paints And Coatings Market 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. Request For Customization

 

Insulating Paints And Coatings Market: Regional Analysis

Asia-Pacific to witness the highest growth in the coming years

The global insulating paints and coatings market is anticipated to witness the highest CAGR in Asia-Pacific owing to the rapid urbanization and infrastructural development in regions like India, Japan, China, and Singapore. The regional governments have increased budgets and spending on the maintenance of corrosion-prone sites. The rising number of manufacturing centers along with factories that are home to large production units require heavy amounts to be invested in treating the wear and tear of the pieces of machinery, pipelines, and other equipment.

The presence of multiple domestic and international players is expected to boost the growth of the regional market. India is currently witnessing a high influx of foreign entries, especially in the coatings and paint section. By 2025, the country’s paint industry is expected to grow at a CAGR of 9.9%.

The global insulating paints and coatings market is dominated by players like:

  • PPG
  • General Coatings Manufacturer Corp
  • Nippon Paints
  • Henry Company
  • Axalta Coating System

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
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The global insulating paints and coatings market is projected to grow owing to the ability of the materials to provide excellent protection against corrosion, which is one of the most commonly occurring problems in chemicals, oil & gas, and building & construction industries.

According to study, the global insulating paints and coatings market size was worth around USD 9 billion in 2021 and is predicted to grow to around USD 13.75 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5.85% between 2022 and 2028.

The global insulating paints and coatings market is anticipated to witness the highest CAGR in Asia-Pacific owing to the rapid urbanization and infrastructural development in regions like India, Japan, China, and Singapore. The regional governments have increased budgets and spending on the maintenance of corrosion-prone sites.

The global insulating paints and coatings market is dominated by players like PPG, General Coatings Manufacturer Corp, Nippon Paints, Henry Company, Axalta Coating System, and others.

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