Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

Foam Coatings Market Size Forecast to Reach $33 Billion by 2025


Foam Coatings Market

iCrowdNewswire   Sep 1, 20202:00 PM ET

Foam coatings market size is forecast to reach $33 billion by 2025, after growing at a CAGR of 7% during 2020-2025, owing to the rising demand of foam coatings from various end-use industries to protect the coated object from outer impact or abrasion. Foam coatings provide the barrier on the foam surface which increases the impact resistance of foam. The demand for the coated foam is increasing in varied industries due to its extensive set of advantages such as energy-saving, thermal and acoustic insulator, flexible, reduced air & moisture infiltration, increased structural strength, reduced dust and pollen infiltration, non-fibrous, and reduced noise. Also, coated foams are being extensively used for its lightweight, durable properties in sealing and thermal insulation applications, which are anticipated to drive the foam coatings market substantially during the forecast period.

By Resin – Segment Analysis

Epoxy resin held the largest share in the foam coatings market in 2019, owing to its superior characteristics such as durability, scratch resistance, abrasion resistance, impact resistance, strong chemical resistance, and weatherability. On applying epoxy based conductive coatings the surface becomes hard and durable, which makes it highly resistant to things like chemicals, abrasions, impact, oil and grease, and stains. Acrylic also holds a significant share in the market due to its low cost, excellent weatherability, good conductivity, and moisture resistance. Moreover, epoxy-based foam coatings are known to be environment friendly as it is insensitive to moisture and does not contain volatile organic compounds (VOCs), which are anticipated to boost the demand of epoxy resins from the foam coatings market during the forecast period.

By Technology – Segment Analysis

The powder based foam coating segment held the largest share in the foam coatings market in 2019, owing to its pollution prevention nature. Powder based foam coating is eco friendly as no solvents are used in the coating formulation and there is little or no hazardous waste to dispose of. Powder based foam coating reduces the cost of the material as during the method no solvent flash is required, no coatings mix room is needed, low ventilation is required and less floor space is required. Also, powder based foam coating improves the finish quality and durability of the material. Moreover, this method has good corrosion resistance, coating utilization efficiencies that reach 95-99%, a variety of resins available and no hazardous overspray, waste sludge, or contaminated water. All these extensive properties of this method are the key factor anticipated to boost the demand for powder based foam coating during the forecast period.

Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=501590

Report Price: $ 4500 (Single User License)

By End-Use Industry – Segment Analysis

The building & construction sector held the largest share in the foam coatings market in 2019 and is growing at CAGR of 7.4%, owing to the increasing usage of foam coatings for building and construction activities such as roof and wall construction. Other applications of foam in the construction industry are foam roofing, insulation, and speciality installations. These foams help to reduce air leakage, leading to lower utility bills, reduced greenhouse gas emissions, and improved indoor air quality as they help to eliminate infiltration of dust and allergens. The building and construction activities are expanding at a lucrative rate across the world due to the increasing population, high urbanization, and rising per capita income of the individuals. According to the US Census Bureau, in February 2020 total construction of the United State was at a seasonally adjusted annual rate of 1,366,697 which is 6.0 percent above the February 2019 rate of 1,288,951. North American and European building construction are also expected to increase because of increasing government projects in the US, Canadian, and German economies. According to the European Commission, the total construction investment in Germany increased by 9.5% over 2008-2015. Also, the European Construction 2020 Action Plan aimed at stimulating favorable investment conditions. The building and construction activities are also increasing owing to the various government initiatives such as Foreign Direct Investments (FDI), which is anticipated to further drive the foam coatings market during the forecast period.

By Geography – Segment Analysis

Asia Pacific region held the largest share in the foam coatings market in 2019 up to 30%, owing to the increasing building and construction activities in the region. The building and construction activities are increasing in countries, such as India and Singapore due to economic reforms and rising per capita income of the individuals. The population growth is resulting in the need for more residential and commercial sectors. Moreover, in India, the government has initiated projects, such as ‘100 smart cities’ and ‘Housing for All by 2022,’ which are expected to drive the Indian residential construction market over the forecast period. According to the International Trade Administration (ITA), the construction value of China in 2018 was USD 893.58 and it is forecasted to reach USD 968.06 by 2019. Also, the Chinese construction industry is forecasted to grow at an annual average of 5% in real terms between 2019 and 2023. Such initiatives are leading to increased building and construction activities by the government in the region. In the building and construction industry, foam is used for its lightweight, durable properties in sealing and thermal insulation applications. Its flexibility and non-fibrous properties make it an ideal thermal and acoustic insulator. Thus, with the increasing building and construction activity in the region the demand for foam coating will also increase, which is anticipated to drive the foam coatings market in the Asia Pacific during the forecast period.

Drivers – Foam Coatings Market

Increase In Automotive Production

Coated foams are being extensively used in the automotive industries for manufacturing car components such as seat, headrests, armrests, and more. Coated foam is being even utilized within the bodies of cars, as their insulation properties protect against the heat and noise of the engine, which is expected to increase the demand of coated foam during the forecast period. According to the International Trade Administration (ITA), China is the world’s largest vehicle market and the Chinese government is expecting that automobile production will reach 30 million units by 2020 and 35 million by 2025. In 2017, 1.2 million new passenger cars, SUVs, and commercial vehicles were sold in the Australian market, an increase of 0.9% from 2016. Also, according to OICA, the production of light commercial vehicles has increased by 10.2 % in 2018 in the APAC region. According to OICA, the production of light commercial vehicles has increased from 2,249,348 in 2018 to 2,254,153 in 2019, an increase of 0.2% in Europe. Thus, the increasing automation production will require more coated foams which will act as a driver for the foam coatings market.

Increasing Demand of Foam Coatings from The Aviation Industries

Aviation industries require coated foams to maintain a steady high-temperature performance of aircraft, to reduce air leakage into and out of the aircraft and to act as a sound barrier to make the aircraft experience more pleasant. Also, aviation industries require coated foam for manufacturing parts such as flight deck pads, passenger cabin walls, aircraft ceilings, overhead stowage, interior aircraft class dividers, aircraft galleys, and lavatories. According to the International Trade Administration (ITA), in 2019 China was the world’s second-largest civil aerospace and aviation services markets and one of the fastest-growing markets. In 2016, according to Boeing, China would require around 6,810 new commercial aircraft, valued at USD 1 trillion, over the next two decades. According to the International Trade Administration (ITA), in 2018 the Indian government spent a total of $645 in the civil aviation sector. Also, according to Boeing India is expected to drive the demand for 2,300 aircrafts worth US$320 billion over the next 20 years. The increasing demand for coated foam from the aviation industry and expanding aviation industry acts as a driver for the foam coatings market.

Talk to one of our sales representative about the full report by providing your details in the link below:

https://www.industryarc.com/support.php?id=501590

Challenges – Foam Coatings Market

Environmental Challenges

The foam coatings industry has been facing many environmental challenges with the increasing focus on complying with state and local regulations for wastewater discharge. Such as the National Pollutant Discharge Elimination System (NPDES), this permits discharge limits and conditions for discharges from municipal wastewater treatment facilities to waters. The most commonly used technique for foam coating namely powder coating method has a considerable amount of metals, oil & grease, and suspended solids in its wastewater streams generated during cleaning and pretreatment phases. Thus, it becomes complicated for powder based foam coating manufacturers to meet many state and local environmental regulations because of their wastewater streams, which acts as a restrain for the foam coatings market.

Covid-19 Impact on the Foam Coatings Market

Due to the Covid-19 outbreak, the foam coating manufacturers are facing issues such as delays in receiving raw materials, which is further resulting in delayed shipments to the customer. Also, the quality of some raw materials has declined considerably. In addition, the import and export restrictions are heavily affecting the foam coatings market growth. Moreover, the activities of various industries such as oil and gas, automotive, aerospace, and more have been disruptively stopped, due to which the foam coatings market is negatively affected.

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the foam coatings market. Major players in the foam coatings market are Apha Foam Limited, Carson’s Coatings, Akzo Nobel N.V., PPG Industries, Sherwin-Williams Company, Axalta Coating System LLC, Asian Paints Limited, S K Kaken Co., Ltd, Masco Corporation and Lapolla.

Acquisitions/Technology Launches

In March 2016, Sherwin-Williams Company and Valspar Corporation signed an agreement under which Sherwin-Williams acquired Valspar for $113 per share, to enhance its position as a premier global paints and coatings provider.

In August 2016, Comex a subsidiary of PPG Industries Inc. launched a new coating product based on hybrid’s zero isocyanate polyurethane technology to bring more environmentally friendly green products to customers without compromising on performance.

In January 2017, PPG acquired the Emerging Europe Accession Fund (EEAF) of DEUTEK S.A., to add the fastest-growing paint brands in Romania.

Key Takeaways

Asia Pacific dominates the foam coating market, owing to increasing manufacturing & construction activities in the region due to the various government initiatives such as 100 smart cities and Housing for all by 2022.

Foam coatings are defined as a polymer-modified, fiber-reinforced Portland cement-based rigid coating used for rigid insulation panels, foam shapes, and insulated concrete form systems. Foam coatings include latex, PVC, acrylics, vinyl, activated carbon, and conductive carbon.

Also, Foam coatings possess water absorbing properties, due to which they provide excellent protection against water damage and fire damage.

Due to the COVID-19 pandemic, most of the countries have gone under lockdown, due to which operations of various industries such as building & construction and aerospace has been negatively affected, which is hampering the foam coatings market growth.

Related Reports :

A. Polyurethane Foam Insulation Materials Market

https://www.industryarc.com/Research/Polyurethane-Foam-Insulation-Materials-Market-Research-501651

B. Spray Polyurethane Foam Market

https://www.industryarc.com/Research/Spray-Polyurethane-Foam-Market-Research-502977

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



Contact Information:

Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677






Keywords:    Foam Coatings Market, Foam Coatings Market size, Foam Coatings industry, Foam Coatings Market share, Foam Coatings top 10 companies, Foam Coatings Market report, Foam Coatings industry outlook

Tags:    IPS, Reportedtimes, Wire, Extended Distribution, iCN Internal Distribution, Research Newswire, English