Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Thermal Insulation Coating Market Research Report by Type (Acrylic, Epoxy, Polyurethane, Yttria Stabilized Zirconia, and Others), by End Use (Aviation, Transportation, Industrial, Construction, and Others) and by Region- Forecast till 2028


ID: MRFR/CnM/3394-HCR | 137 Pages | Author: Priya Nagrale| May 2024

Thermal Insulation Coatings Market Overview


The Thermal Insulation Coatings Market Size is expected to grow USD 8.01 billion at a CAGR of 7.1% during the forecast period. Insulation (thermal) Coatings are paint-like coatings that are applied to a substrate. Acrylic, epoxy, polyurethane, and yttria-stabilized zirconia are the different types of coatings. Low heat transfer, chemical resistance, inertness when exposed to outside environments, and energy savings in industrial applications are all properties of these coatings. Their primary function is to extend the life or durability of a material or other substrate. They have been used in the aviation, automotive, oil and gas, and construction industries, among others. Thermal Insulation Coatings have a wide range of applications: they can lower temperatures in both directions across a medium. That is, they can act as insulation to keep heat in.


Acrylic-based Insulation Coatings are aqueous coatings that make up the majority of the Insulation Coatings market. Acrylic-based insulation coatings are a great alternative to traditional insulation materials because of their low maintenance and ability to avoid condensation. These coatings may be applied using simple spray equipment and can withstand temperatures up to 150 degrees Celsius. Water-based acrylic insulation coatings can withstand temperatures of up to 177 degrees Fahrenheit.


Thermal Insulation Coating is expected to grow significantly over the assessment period. During the forecast period, rising construction activities around the world are expected to be a major driver for the Thermal Insulation Coating Market. The market is expected to develop due to rising automotive production and sales, as well as rising interior coatings consumption.


The Cannon Afros LIFE VICORPAN Project, which will be completed in 2024, will develop energy-efficient and recyclable vacuum-improved insulation using CORe-shaped PANels, resulting in lower energy usage for refrigerators, freezers, and cooling cabinets. The upgraded VICORPAN design can now reduce heat transmission in commercial refrigerators and freezers by up to 17% when compared to conventional PU foam insulation. Cannon Afros leads the project, which receives co-funding from the European Union's LIFE program and is carried out in close collaboration with partners BASF Polyurethanes and EPTA.


The Global Thermal Insulation Coating Market Share by End Use Industry, (2016) (%):Thermal Insulation Coating Market



BorgWarner has began manufacturing eMotor rotors and stators for XPeng Motors, a renowned Chinese Smart EV manufacturer. The product will be used on the X9 MPV and XPeng's future electric B-class car, with the start of manufacturing anticipated for 2024. The high voltage hairpin (HVH) 220 eMotor provides great power and torque density, as well as increased efficiency, at a competitive price. It also offers exceptional durability.


In 2023, Whirlpool Corporation launched SlimTech™ insulation, the first vacuum insulated structure (VIS) technology in a refrigerator in North America. This method marks a substantial advancement in refrigeration technology, which has traditionally depended on thick polyurethane foam for insulation. SlimTech™ insulation reduces wall thickness by up to 66%, resulting in up to 25% additional capacity inside the refrigerator.


Regional Analysis


The Global Thermal Insulation Coating Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, North America is predicted to grow with the highest CAGR during the review period, 2017 to 2023 on account of expanding aviation industry. The demand for Thermal Insulation Coating in petrochemical plants is predicted to surge in countries of the North America such as the U.S., Canada and Mexico due to high adoption rate by the petrochemical producers. Moreover, the presence of tremendous oil & gas reserves in this region is predicted to propel the growth of the market.


The North America has emerged as the leading market region for Thermal Insulation Coating followed by Asia Pacific and the Middle East & Africa. North American thermal insulation coating market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In North American region, the U.S. is predicted to be the major contributor in the regional growth of Thermal Insulation Coating Market and is expected to see a significant demand for Thermal Insulation Coating during the forecast period, 2020 to 2028. As of 2016, the U.S accounted for the largest market share and is followed by Canada in terms of value & volume and is estimated to grow with a moderate CAGR on account of growth in the production of crude oil. In Europe, the demand for Thermal Insulation Coating is predicted to grow in various countries such as Italy, Germany, Spain, the U.K, France, and Russia on account of increasing expenditure in innovation and growing purchasing power of consumers. Moreover, presence of major automobile manufacturers specifically in Germany is expected to give a new impetus to the market growth. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness a substantial growth owing to increasing consumer spending on passenger cars as well as involvement of new technologies and inventions in Thermal Insulation Coating. Asia Pacific thermal insulation coating market is predicted to grow with the moderate CAGR due to developing crude oil processing and expanding petroleum refineries in India and China. Moreover, continuous growth of automotive sector in various economies of Asia Pacific such as China, India, Malaysia, Thailand, and Japan is expected to raise the demand for synthetic lubricants which in turn is predicted to fuel the demand for Thermal Insulation Coating over the forecast period, 2020 to 2028.


Segmentation


The Global Thermal Insulation Coating Market is categorized on the basis of type, end use industry, and region. On the basis of type, the market is bifurcated into acrylic, epoxy, polyurethane, yttria stabilized zirconia and others. Based on end use, this product finds its application in aviation, transportation, construction, and other industrial purposes. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.


Key Players


Some of the prominent players operating in the Global Thermal Insulation Coating Market are PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Dow Chemical Company (U.S.), Akzo Nobel N.V. (the Netherlands), Kansai Paint Co., Ltd. (Japan), Jotun (Norway), Nippon Paint Holdings Co., Ltd. (Japan), Carboline Company (U.S.), Sharpshell Industrial Solutions (South Africa), and Mascoat (U.S.), among others.

Recent Development



  • Akzo Nobel will purchase Stahl Performance Powder Coatings in September 2020, which would help the company improve its position in the powder coating business. Thermally sensitive powder coatings, which comprise UV and thermally curing powders, will now provide AkzoNobel access to a new market.

  • PPG Industries bought Alpha Coating Technologies, LLC, a powder coatings manufacturer for light industrial applications and heat-sensitive substrates, in March 2020. Alpha is a manufacturer and distributor of powder coatings for light industrial applications, medium density fiberboard, and heat-sensitive substrates.


Intended Audience



  • Thermal Insulation Coating Manufacturers

  • Traders and Distributors of Thermal Insulation Coating

  • Production Process Industries

  • Potential Investors

  • Raw Material Suppliers

  • Nationalized Laboratory

Report Attribute/Metric Details
  Market Size   2028: USD 8.01 Billion
¬†¬†CAGR ¬†¬†7.1% (2021‚Äď2028)
  Base Year   2020
  Forecast Period   2021 to 2028
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, End-Use Industry and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Dow Chemical Company (U.S.), Akzo Nobel N.V. (the Netherlands), Kansai Paint Co., Ltd. (Japan), Jotun (Norway), Nippon Paint Holdings Co., Ltd. (Japan), Carboline Company (U.S.), Sharpshell Industrial Solutions (South Africa), and Mascoat (U.S.), among others.
  Key Market Opportunities   Rapid urbanization, rising demand for aircraft carriers, and increasing expenditure on research activities.
  Key Market Drivers   Rapidly developing construction industry.


Frequently Asked Questions (FAQ) :

Thermal Insulation Coating Market is predicted to grow at 7.1% CAGR through forecast period of 2021-2028.

The forecast period for Thermal Insulation Coating Market research report is 2021-2028.

Global Thermal Insulation Coating Market is dominated by North America region

PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Dow Chemical Company (U.S.), Akzo Nobel N.V. (the Netherlands), Kansai Paint Co., Ltd. (Japan), Jotun (Norway), Nippon Paint Holdings Co., Ltd. (Japan), Carboline Company (U.S.), Sharpshell Industrial Solutions (South Africa), and Mascoat

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.