The Insulation Coating Materials Market is expected to grow at > 7.2% during 2020-2025, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Insulation Coating Materials Market
Insulation Coating Materials Market is likely to witness an excellent CAGR of 7.2% during the forecast period. Increasing awareness of consumers about energy conservation and government’s eco-friendly policies are the major factors contributing to the growth of the market for insulation coating materials during the forecast period.
Asia-Pacific is estimated to be the largest as well as fastest-growing market for insulation coating materials during the forecast period, with India, China and Australia being the major countries with lucrative growth opportunities, owing to growing industrialization in these emerging economies. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Market Scope & Market Segmentation
Insulation Coating Materials Market Share: By Product Type
Based on the product type, the market is segmented as acrylic, epoxy, polyurethane, YSZ, and mullite. The acrylic segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. Acrylic coatings are applied with user-friendly spray equipment and are suitable for applications up to temperature 150ºC. Growth in industrialization and expanding manufacturing sector will fuel the demand for acrylic coatings for insulation.
Insulation Coating Materials Market Share: By End-Use Industry
Based on the end-use industry type, the market is segmented as aerospace, automotive, marine, building & construction, industrial, and others. The marine end-use industry segment is likely to have the highest growth during the forecast period, as it provides corrosion resistance to in highly corrosion prone marine environment.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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