Global Heat Resistant Coating Market, By Resin Type (Epoxy, Silicone, Polyester, Acrylic, Modified Resins, Others), Manufacturing Process (Liquid, Powder), End-Use (Consumer Goods, Automotive and Transportation, Industrial and Equipment, Building and Construction, Others) – Industry Trends and Forecast to 2029.
Global Heat Resistant Coating Market Analysis and Size
Over the last few years, there has been immense growth in the across various end users such as construction, oil and gas, bedding and furniture, transportation and aerospace, and packaging. Additionally, there has been strong development in infrastructure, which have significantly contributed to the heat resistant coating market, which further increases the overall growth for the heat resistant coating market.
- Global heat resistant coating market was valued at USD 6.16 billion in 2021 and is expected to reach USD 9.53 billion by 2029, registering a CAGR of 5.60% during the forecast period of 2022-2029. The "power segment" accounts for the largest type segment in the heat resistant coating market owing to the stringent environmental regulations regarding solvent based products have urged coating manufacturers to shift towards powder-based products. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Global Heat Resistant Coating Market Definition
Heat resistant coatings are a form of protective coating made of particular resins that protect and shield the coating from harm while also preventing the spread of flames. Buildings and structures, automotive and transportation, and other industries can benefit from the exceptional features of durability, heat resistance, and corrosion resistance. In the building and construction industry, heat-resistant coatings are widely employed. They are utilized to meet critical fire safety requirements and codes on a variety of building materials and goods. The use of heat-resistant coatings helps to decrease fires and improve people's safety and security.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Million, Volumes in Units, Pricing in USD
Resin Type (Epoxy, Silicone, Polyester, Acrylic, Modified Resins, Others), Manufacturing Process (Liquid, Powder), End-Use (Consumer Goods, Automotive and Transportation, Industrial and Equipment, Building and Construction, Others)
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
Market Players Covered
AkzoNobel N.V. (Netherlands), Sherwin Williams Company (U.S.), PPG Industries Inc. (U.S.), Axalta Coating Systems (U.S.), Jotun (Norway), Hempel A/S (Denmark), Teknos Group (Finland), Kansai Paints Co., Ltd (Japan), KCC Corporation (South Korea), RPM International Inc. (U.S.), FITZPATRICK PAINTING INC. (U.S.), Right Choice Painting & Construction (U.S.), Basic Needs Construction & Painting Company, LLC., (U.S.) and Tikkurila OYJ (Finland)
Heat Resistant Coating Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
High Demand and Utilization
Construction methods are progressively using fire resistant materials and coatings for residential, commercial, infrastructure, and industrial development as a result of changing lifestyle trends. They are used in various end-user industries such as construction, oil and gas, bedding and furniture, transportation and aerospace, and packaging
The increasing awareness about the advantage of these products owing to their property of resistance to heat, corrosion, and chemicals along with the use of heat resistant coatings in commercial equipment and flammable fluid pipelines is becoming easier and economical will further propel the growth rate of heat resistant coating market. Additionally, the rising awareness toward fire protection equipment will also drive market value growth. The surging applications of heat-resistant coatings in defense equipment is yet another market growth determinants which is projected to bolster the growth of the market.
- Increasing Investments And Advancements
Furthermore, increasing investments in new infrastructure developments, new housing projects, and renovation of non-residential buildings extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the new innovations and advancements being made in this technology coupled with the rising awareness about the benefits of heat resistant coating will further expand the future growth of the heat resistant coating market.
Restraints/Challenges Global Heat Resistant Coating Market
- High Cost
The high cost of labor along with the high cost for transportation of heat-resistant coatings will create hindrances for the growth of the heat resistant coating market. Furthermore, one of the primary factors limiting worldwide market growth is the high cost of maintenance.
- Supply Chain Disruptions
With the rising number of restrictions around the globe due to pandemic, there has been a hit in the demand and supply. Also, the fluctuations in the prices of raw materials will prove to be a demerit for the heat resistant coating market. Therefore, this will challenge the heat resistant coating market growth rate.
This heat resistant coating market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the heat resistant coating market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Heat Resistant Coating Market
The recent outbreak of coronavirus had a negative impact on the heat resistant coating market. The precautionary lockdowns imposed by governments to curb the spread of disease led to huge financial setback for the market owing to the supply chain interruptions, paused or suspended manufacturing, and travel restrictions are all influencing demand in the paints and coatings business, affecting demand from the architectural, automotive, and aerospace industries. The automotive paint and coatings business has been one of the hardest hit by the coronavirus outbreak. Large manufacturers have been forced to shut down or postpone ongoing projects and plans as a result of the lockdown measures. The collapse of other supporting businesses has had an influence on the vehicle coatings industry. Another significant effect of the COVID-19 pandemic has been the disruption of supply chains. However, following the Covid-19 Pandemic, increased demand from the construction and general industrial sectors is expected to boost paint and coatings demand. Since social alienation, self-isolation, and city-wide lockdowns have caused many construction sites around the world to suspend operations, with the exception of those working on important projects such as hospitals, the construction industry has been severely hit. All of this had an impact on total paint and coatings use across the globe. There has been a dramatic drop in demand and investment in the sector. Therefore the market suffered an overall negative impact during the COVID-19.
- In Septemb er 2020, Etex has announced the acquisition of FSi Limited, a British business that specialises in passive fire prevention with a strong focus on fire stopping. FSi has a manufacturing plant in Measham, East Midlands, and a distribution centre in West Thurrock, Greater London Area. FSi designs, manufactures, and distributes a complete line of built-in fire prevention systems to safeguard infrastructure and assets all over the world. Etex will be able to expand its offering in passive fire prevention and drylining systems thanks to FSi's technologies and technical experience. FSi's products and customer base are a great fit for Etex's portfolio.
Global Heat Resistant Coating Market Scope
The heat resistant coating market is segmented on the basis of resin type, manufacturing process and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Modified Resins
On the basis of resin type, the heat resistant coating market has been segmented into epoxy, silicone, polyester, acrylic, modified resins and others.
The heat resistant coating market has also been segmented on the basis of manufacturing process into liquid and powder. Power segment is estimated to have largest market share owing to the stringent environmental regulations regarding solvent based products have urged coating manufacturers to shift towards powder-based products.
- Consumer Goods
- Automotive and Transportation
- Industrial and Equipment
- Building and Construction
On the basis of end-use, the heat resistant coating market is segmented into consumer goods, automotive and transportation, industrial and equipment, building and construction and others.
Heat Resistant Coating Market Regional Analysis/Insights
The heat resistant coating market is analysed and market size insights and trends are provided by country, resin type, manufacturing process and end-use as referenced above.
The countries covered in the heat resistant coating market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the heat resistant coating market because of the rapid industrialization in the region, mainly in China, Japan and India combined with the new innovations and technological advancements within the region.
North America on the other hand, is estimated to show lucrative growth during the forecast period of 2022 to 2029 due to the increasing spending on roads, bridges, and highways along with the rising demand from the automotive and transportation industries within the emerging economies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Heat Resistant Coating Market Share Analysis
The heat resistant coating market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to heat resistant coating market.
Some of the major players operating in the heat resistant coating market are
- AkzoNobel N.V. (Netherlands)
- Sherwin Williams Company (U.S.)
- PPG Industries Inc. (U.S.)
- Axalta Coating Systems (U.S.)
- Jotun (Norway)
- Hempel A/S (Denmark)
- Teknos Group (Finland)
- Kansai Paints Co., Ltd (Japan)
- KCC Corporation (South Korea)
- RPM International Inc. (U.S.)
- FITZPATRICK PAINTING INC. (U.S.)
- Right Choice Painting & Construction (U.S.)
- Basic Needs Construction & Painting Company, LLC., (U.S.)
- Tikkurila OYJ (Finland)