According to Data Bridge Market Research new Market report, global insulation coating materials market will account to an estimated USD 8.61 billion in 2018 growing at a CAGR of 7.73% during the forecast period of 2019 to 2026.
Access Full Report at https://databridgemarketresearch.com/reports/global-insulation-coating-materials-market/
Insulation coating materials are the materials/objects that are utilized in the insulation coating of various structures and surfaces. They are applied on various substrates to maintain the temperature of the contents of the structure at a constant and at the temperature they are stored in.
Global insulation coating materials market is segmented on the basis of type, end-use industry and geography.
By Type (Acrylic, Epoxy, Polyurethane, YSZ, Mullite), End-Use Industry (Aerospace, Automotive, Marine, Industrial, Building & Construction) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN INSULATION COATING MATERIALS MARKET
Growth of oil refineries and associated industries
According to Enerdata, the global crude oil production from the oil refineries is on the rise as the global production of crude oil in 2015 was 4,330 metric tonnes, this number grew to 4,358 metric tonnes in 2016, and again this number grew to 4,364 metric tonnes by 2017. This growing production of crude oil from the oil refineries is an evidence of the growing development in the oil refineries, where the market for insulation coating materials is expected to be positively affected by this factor due to the benefits associated in the processes and operations of the oil refineries with its usage.
Few of the major competitors currently working in the insulation coating materials market are Akzo Nobel N.V., Axalta Coatings Systems, Cabot Corporation, Carboline Company, Coolshield International Pty., Ltd, Delta T & Protective Products Inc., Excel Enterprise, General Coatings, Jotun, Kansai Paint Co., Ltd., Lincoln Industries, Mascoat, Mathur Corr-Tech Pvt. Ltd., Nippon Paint Holdings Co., Ltd., NPP Engineering and Sharpshell Industrial Solutions.
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Global Insulation Coating Materials Market– Industry Trends and Forecast to 2026