High Temperature Coating Market Demand, Application, COVID-19 Analysis, Share, Forecast 2023
High Temperature Coating Market Overview
The global high temperature coatings market is projected to
showcase a steady growth and reach a significant valuation by the end of the
forecast period of 2017-2023, as per a research report published by Market
Research Future (MRFR). High temperature coatings are used in a number of
industrial applications owing to its properties of being heat-resistant which
can withstand temperatures ranging from 150°C (300°F) to over 760°C (1,400°F)
and being anti-corrosive. The market has observed a surge in demand for high
temperature coatings from the automotive industry for its usage in vehicle
protection and is a crucial driver of the market. High temperature coatings are
extensively used cookware, stoves & grills, bakeware as it provides
excellent resistance against heat. High temperature protects against corrosion
and also offers the advantage of fireproofing owing to which it finds
application in the construction industry. Revision of building safety norms
have helped high temperature coatings gain significance. Numerous incidents of
building accidents such as building collapse have encouraged the use of high
temperature coatings owing to their high intransigence properties.
High temperature coatings find their application in various
industry verticals such as aerospace, power, manufacturing, petrochemical, and
military and it is on account of growth in the end-user industries that the
market is propelling. Powder coatings are enjoying increased popularity as it
provides better durability, toughness and does not contain any solvents or VOCs
which is expected to boost the market growth over the forecast period.
Stringent guidelines pertaining to VOC emission has augmented the demand for
water-borne high temperature coatings as they have low emission levels of VOC
and other air pollutants and offers potential growth opportunities.
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High Temperature Coating Market Segmentation
The global COVID-19 analysis on high
temperature coatings market size has been segmented based on resin type, technology,
and end-use. By resin type, the market has been segmented into epoxy, silicone,
polyester, acrylic, alkyd, and others. The acrylic resin segment accounts for
the majority of the market share on account of growing use in end-use industries.
The silicone resin segment finds its application in the food & beverage,
construction, automotive and chemical industries as it is age resistant and
heat stable. By technology, the market has been segmented into water, solvent,
and powder. The water segment is expected to witness high growth over the
forecast period due to its ease and convenience of use. Additionally, the
powder segment will exhibit high growth which will be facilitated by the
implementation of new rules by the government for the use of the product owing
to the long-lasting, durable and non-voc nature. By end-use, the market has
been segmented into aerospace, automotive, coil, petrochemical, marine, metal,
and stoves. The automotive segment is leading due to the increased use of high
temperature coatings in the production of vehicles.
Competitive Landscape
The major players of the global high temperature coatings market
include AkzoNobel N.V. (the Netherlands), PPG Industries Inc. (U.S.), Axalta
Coating Systems (U.S.), Aremco (U.S.), Hempel (Denmark), The
Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Jotun
(Norway), Carboline (U.S.), and Belzona International Ltd. (U.K.).
High Temperature Coating Market Regional Analysis
The key markets of the global high temperature coatings industry include
Asia Pacific, North America, Europe, Latin America, and the Middle East &
Africa. Asia Pacific is the largest market for high temperature coatings due to
high demand from end-use industries such as aerospace, automotive, coil, petrochemical,
and others. Moreover, the growth of the automotive industry in countries such
as China, Japan, and India translates into demand for high temperature
coatings. The North America market for high temperature coatings is expanding
significantly due to increased demand from the construction and automotive
industries. The US, Canada, and Mexico are the key contributors in the region.
The Europe market is driven by growing innovation and technological
advancements in countries such as the UK, Italy, France, and Germany. The Latin
America market is expected to depict considerable growth over the forecast
period owing to the burgeoning usage of silicone resins and acrylic in the
chemical, construction and energy sectors. The Middle East & Africa market
is projected to grow due to high demand for high temperature coatings from the
oil & gas, petrochemical, energy, and aviation sectors.
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NOTE: Our team of researchers are studying Covid19 and its impact
on various industry verticals and wherever required we will be considering
covid19 footprints for a better analysis of market and industries. Cordially
get in touch for more details.
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