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Precision Business Insights (PBI) in its report titled “Global Insulation Coating Material Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
Global Insulation Coating Material Market Size:
The Global Insulation Coating Material Market poised to reach US$ XX Mn by 2025 with a significant CAGR over seven years forecast period 2019-2025 owing to the increase in shipbuilding activities.
The global insulation coating material market was valued at US$ XX Mn in 2018 and projected to reach US$ XX Mn by 2025. Insulation coatings are used in various industries such as building & construction, industrial, aerospace, marine, automotive, among others. Increase in demand from various industries, substrate protection and need for insulation coating for energy proficiency are the major aspects promoting the growth of insulation coating material market. The high cost associated with materials coupled with lower thermal efficiency limits the growth of market.
Global insulation coating material market segmented on the basis of type and end users.
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Mullite Segment Expected to Dominate the Global Insulation Coating Material Market
Based on type, insulation coating material is segmented into acrylic, epoxy, polyurethane, YSZ, and Mullite. The mullite-based insulation coating materials can be used in severe chemical environments, have low density, and high thermal constancy. Mullite has less oxygen resistance than YSZ. Mullite is an excellent option, in diesel engine applications, where the temperature differences across the coating are hefty, which further drives this segment.
Based on end-user, insulation coating material market is segmented into aerospace, automotive, marine, industrial, building & construction. Marine segment is expected to hold a major revenue share. The marine segment is determined by various factors such as personnel protection, need for energy saving, and surface protection in the marine industry. The marine environment is disposed to corrosion due to high dampness. Insulation coating materials offer anti-condensation capabilities for shipboard construction and thermal barrier.
APAC Leads the Global Insulation Coating Material Market
Precision Business Insights (PBI) global insulation coating material market report analyses the market in different regions of North America, Europe, Latin America, Asia Pacific, and Middle East Africa. According to regional analysis, APAC is the leading market for insulation coating materials. Emerging economies like China, India offers a lucrative growth in this region. Increasing demand for insulation coatings from oil & gas, chemical, and power industries drives the growth of market in APAC region. The APAC region is perceiving the industrial growth, which in turn, will boost the demand for insulation coatings in the region. Escalating demand in the industrial sector for better-quality product, growing innovation and development is directly upsetting the use of insulation coating materials.
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Strategic Acquisition Play Vital Role in Global Insulation Coating Material Market
Acquisition, collaboration, new product launch are the various market strategy implemented by key players to create a strong consumer base in the market. Key player’s emphases on organic growth to drive efficiencies of its adhesive business. For instance, in June 2017, The Sherwin-Williams Company acquired Valspar Corporation (US). According to Valspar, shareholders received US$ XX Mn. This has helped the company strengthen its brand portfolio and expand its product range and global footprint. .
Key player’s profiles in the report are AkzoNobel (Netherlands), PPG Industries (US), The Sherwin-Williams Company (US), Kansai Paint CO., LTD. (Japan), Jotun Group (Norway), Nippon Paint (Japan), and Mascoat (US)
By End User Type
Middle East and Africa
Key Features of the Report:
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