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Thermal Insulation Coating Market Anticipated to Witness Significant Growth By 2024

Author : Ronak Bora | Published Date : 2019-05-08 

The latest Thermal Insulation Coating Market Research Report 2024 contains complete Industry outlook, market manufacturers and key statistics analysis. The industry sales & Share, trends are all discussed, explained and analyzed. It provides marketing strategy analysis, distributors/traders list, raw materials analysis, import and export analysis, key success factors and supply chain analysis.

Thermal Insulation Coating Market size is likely to witness significant gains due to increasing utilization of heat insulation solutions and demand for energy saving in marine, automotive, defence & aerospace, building & construction industries. Increasing number of commercial buildings, skyscrapers construction and development in manufacturing, automobile and marine sectors would further propel heat barrier coatings demand in these applications. Government initiatives and regulations to strengthen manufacturing industry and rising use of energy saving and eco-friendly products may boost thermal insulation coating market size in forecast timeframe.

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Thermal insulation coating market size from marine applications may witness significant gains over the foreseeable timeframe. Increasing need for protecting printed circuit board (PCBs) which function in strong chemical environments would propel product demand. Global marine coatings market size is poised to surpass USD 15 billion by 2024, with gains at over 6%. It is widely used in military and commercial ships and recreational yachts and boats. They are mainly formulated to restore and protect marine craft surfaces from air, UV degradation, and salt water.

Strong application scope in automotive industry should drive thermal insulation coating market size. It helps to improve overall vehicles performance through reducing heat loss and energy consumption. They are used on rooftop to control inside the cabin temperature, thus increases HVAC efficiency, reduce pollution, and enhance fuel efficiency. Global automotive coatings market size was valued at over USD 5 billion in 2016 owing to increasing vehicle production in China, Brazil, India, and South Africa. Rise in disposable income along with increase in automotive refinish market demand owing to vehicle repair and maintenance will stimulate thermal insulation coating market size.

North America led by Canada and the U.S. thermal insulation coating industrty size may witness a steady growth owing to rising construction industry. High demand from aviation and marine industries along with increasing environmental awareness will propel industry growth in the region.

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Asia Pacific led by Japan, India, South Korea and China thermal insulation coating market size may witness steady gains owing to increasing marine and aerospace industries. China is the largest automobiles producer on account of economic labor and affordable workface with various companies such as Audi, Nissan, Honda, Skoda, Fiat, and Toyota. Rising R&D spending along with increasing demand for industrial sector towards novel and improved products will boost industry growth.

Europe driven by UK, France, Italy, Russia, and Germany thermal insulation coating market size will witness significant gains over the foreseeable timeframe. Huge investments in infrastructure development with emphasis on commercial construction sectors is expected to propel product demand. Also, green building initiatives in the region is likely to boost environmental free thermal insulation coating demand.

Global thermal insulation coating market share is competitive and fairly consolidated. Major companies include PPG Industries, Mascoat, AkzoNobel, Nippon Paint Holdings, Carboline Company and Sherwin-Williams Company. Most of the industry participants have integrated their distribution operations and raw material production to expand regional presence and enhance product portfolio. Companies are initiating R&D initiatives to develop new product in the competitive market, and promote thermal insulation coating market demand.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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