The report covers comprehensive information about market trends, volume (kilo tons) and value (US$ Mn) projections, market dynamics, competition and recent developments in the global insulation paints and coatings market for the study period of 2013 to 2026.
The global insulation paints and coatings market is expected to reach a little over US$ 8 Bn by the end of forecast period, registering a CAGR of 5.7% for the period between 2018 and 2026. Cost savings resulting from improved energy efficiency gains, protection from corrosion under insulation, and the ease of application compared to other forms of thermal insulation are some of the factors expected to lay a robust foundation for the growth of the global insulation paints and coatings market.
Acrylic Type Insulation Paints and Coatings to Find Extensive Usage across the Globe
The types of insulation paints and coatings based on core resin component used primarily consist of acrylic, epoxy, polyurethane, alkyd and Yttria-stabilized zirconia. The acrylic segment is expected to dominate the market in terms of value as well as volume during the entire forecast period. Acrylic insulation paints and coatings find extensive usage where the requirement of cost effective and reliable paint application is required. Acrylic paints are generally water-based, non-flammable, and non-toxic with a longer lifespan. These usage characteristics make them preferable for use, primarily in industrial applications.
Among AC electric motor types, induction motors are expected to register 1.1X the growth, driven by synchronous insulation paints and coatings during the study period.
By the end of 2026, the acrylic insulation paints and coatings segment is projected to grow to 1.6X its size in 2018 by value, creating an absolute dollar opportunity of nearly US$ 1.2 Billion during the forecast period.
Water-Based Insulation Paints and Coatings – Growing Demand for Water-Based Products as Countries Tighten Toxicity Regulations
Insulation paints and coatings are widely utilized across many industrial, commercial and residential applications. The base type of insulation paints and coatings can be water based, solvent based or they can be in powder form without the need of a binder solvent. Solvent based paints have chemicals or petroleum oils as the key liquefying agent. These types of solvents contain toxic chemicals which are released into the environment on their application and drying. In order to contain the hazardous impact of solvent based paints on the environment, manufacturers and consumers are being asked by regulatory authorities to go for water based paints which emit lower volatile organic compounds compared to their solvent counterparts. Water based paints are non-toxic, have no harmful odor and environment friendly, which is why they dominate the market for insulation paints and coatings.
The water based segment is projected to grow at a strong rate during the forecast period in view of tightening industrial and consumer safety regulations, and is expected to create an absolute $ opportunity of US$ 1.7 billion between 2018 and 2026.
Usage of Insulation Paints and Coatings in Manufacturing and Building & Construction Sectors to Witness Above Average Growth
Amongst all end use industries analyzed in this global insulation paints and coatings market study, the manufacturing industry is expected to register about 1.07X growth in terms of value. The buildings & construction industry is also projected to witness strong growth, led by the increasing demand from commercial as well as residential applications. Extreme temperatures in some parts of the world make the use of insulation paints a vital part of energy management plans in industrial and commercial set ups.
In terms of incremental $ opportunity, manufacturing and buildings and construction sectors are expected to compete within close margins. Both the end-use sectors are expected to occupy over a 50% share by value by the end of 2026.
Asia Pacific to Remain High Value – High Growth Region in the Global Insulation Paints and Coatings Market
Increasing industrial production, stable economic conditions and consistent growth in commercial and residential construction activity in the region is expected to demand for insulation paints and coatings market in the region.
The strong manufacturing sector in the region and increasing industrialization and urbanization will create a robust platform for the growth of the insulation paints and coatings market. The Asia Pacific excluding Japan (APEJ) region is expected to grow 1.7X as compared to its size in 2018 and will be followed by North America and Western Europe in terms of value. China, in particular, will lead the growth in the Asia Pacific region with the insulation paint technology gaining wider recognition as compared to the previous years. All the other regions are expected to exhibit moderate growth during the same period.
Collectively, APEJ and North America are projected to create an absolute dollar opportunity of more than US$ 1.7 Billion during the forecast period.
Insulation Paints and Coatings Market – Competitive Landscape
The global insulation paints and coatings market is fragmented, with no single market player holding a substantial enough market share so as to dominate the sector. Globally, the top 10 players in the market collectively hold between 30% and 40% of the market share.
In the recent past, the insulation paints and coatings market has witnessed significant developments from the competition perspective. New product launches, expansions, acquisitions and collaborations are some of the key preferred strategies opted by key players to expand and sustain in the global insulation paints and coatings market.
Some of the prominent players covered in this market study on the global insulation paints and coatings market include Akzo Nobel N.V., PPG Industries Inc., The Sherwin-Williams Company, Nippon Paint Holdings Co. Ltd., Kansai Paint Co. Ltd, Jotun Group, Hy-Tech Thermal Solutions, Highland International, Okitsumo Inc. and Nissin Sangyo Co. Ltd, apart from the various regional players in each of the market geographies.
Key Questions Answered in the Report
This PMR study on insulation paints and coatings offers an eight-year forecast for the global Insulation Paints and Coatings market between 2018 and 2026. The insulation paints and coatings market study considers 2016 as the base year with market values estimated for the year 2017 and forecast developed for the duration 2018 to 2026. Compound Average Growth Rate (CAGR) for the insulation paints and coatings market study is represented from 2016 to 2026. The insulation paints and coatings market study covers various perspectives of the market, including market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison and macro-economic and industry growth analysis, along with segment level projections in a comprehensive manner. As per the findings of the study and perspectives of industry participants, the global Insulation Paints and Coatings market is projected to grow at a CAGR of 5.7% between 2018 and 2026, in terms of value. Growing environmental concerns, supportive policy frameworks and reasonable cost of operations are some of the factors positively impacting the uptake of Insulation Paints and Coatings in the global market.
Insulation Paints and Coatings are products that provide the additional function of thermal insulation while being applied as just any other paint or coating. Insulation paints and coatings help improve energy efficiency of buildings by helping maintain temperature balance within closed environments. Insulation paints and coatings shield the inner parts of the building by blocking heat transfer from outside environment, thereby reducing cooling requirements and lowering energy consumption.
The Persistence Market Research report on Insulation Paints and Coatings carefully analyses the market at a global and regional level through market segmentation on the basis of key parameters, such as type, base type, end users and region. The insulation paints and coatings market report is structured to facilitate the reader to develop a thorough understanding of the market. The insulation paints and coatings report begins with market definitions, which are followed by the market background, market dynamics and market analysis by key segments, regional analysis and competition landscape. Each section of the insulation paints and coatings report covers a qualitative and quantitative assessment of the market on the basis of facts, historical developments and key opinions collected from industry participants through dedicated interviews and trends in the market.
Insulation Paints and Coatings Market: Segmentation
End Use Industry
The insulation paints and coatings report begins with a market introduction, which defines the market taxonomy and product definitions with respect to the global insulation paints and coatings market assessment. In the next section, the insulation paints and coatings report describes the market development background, covering macro-economic factors, industry factors affecting the Insulation Paints and Coatings market for the base year considered for the study.
The next section of the insulation paints and coatings report discusses market dynamics, such as drivers (supply and demand side), restraints and trends impacting the market growth at a global level. This section also includes the impact assessment of market dynamics on the global Insulation Paints and Coatings market at a qualitative level based on analysis facts and insights.
Subsequent sections of the insulation paints and coatings report provide value (US$ Mn) and volume (New Sales in Kilo Tons) projections for the Insulation Paints and Coatings market on the basis of the aforementioned segments at a global level. The next section of the report presents a summarised view of the global Insulation Paints and Coatings market based on seven prominent regions considered in the study.
All the above sections evaluate the present insulation paints and coatings market scenario and growth prospects in the global Insulation Paints and Coatings market while the forecast presented in the sections assesses the market size in terms of volume and value.
In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand the predictability of the Insulation Paints and Coatings market and identify the right opportunities available.
Another key feature of this insulation paints and coatings report is the analysis of all key segments in the Insulation Paints and Coatings market, sub-segments and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the Insulation Paints and Coatings market.
In order to understand the key market segments in terms of growth and installation of Insulation Paints and Coatings across concerned regions, Persistence Market Research has developed the attractiveness index, which will help providers to identify real market opportunities.
Insulation Paints and Coatings Market: Competitive Analysis
In the final section of the insulation paints and coatings report, a competitive landscape of the Insulation Paints and Coatings market has been included to provide report audiences with a dashboard view, categorised on the basis of providers present in the value chain, their presence in the Insulation Paints and Coatings market and key differentiating factors and strategies. The primary category of providers covered in the report includes insulation paints and coatings manufacturers. This section in the insulation paints and coatings market report is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the Insulation Paints and Coatings market. Examples of some of the key competitors covered in this report include Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Nippon Paint Holdings Co., Ltd., Kansai Paint Co. Ltd, Jotun Group, Hy-Tech Thermal Solutions, Highland International, Okitsumo Inc., Nissin Sangyo Co.,Ltd.