Global Thermal Insulation Coating Market 2017-2021
About Thermal Insulation Coating
Thermal insulation is a process to prevent the heat flow between objects. The thermal insulation coating is commonly available in solid, liquid, or semi-liquid forms, which helps prevent the heat flow between different objects. The coating significantly helps reduce the heat loss. Thermal insulation coating has high thermal co-efficiency and low conductivity, which help prevent the objects from ultraviolet (UV) and infrared lights. These coatings also provide personnel protection. R-value is used to measure the resistance to heat flow. Therefore, the higher the R-value, the higher the heat resistance. Thermal insulation is one of the most cost-effective ways to reduce the carbon footprint as less energy is required to limit the transmission of heat to the environment. Therefore, thermal insulated residential and non-residential buildings are less affected by changes in temperature.
Technavio’s analysts forecast the global thermal insulation coating market to grow at a CAGR of 7.16% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global thermal insulation coating market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Thermal Insulation Coating Market 2017-2021
Technavio recognizes the following companies as the key players in the global thermal insulation coating market: Akzo Nobel, Jotun, PPG Industries, The Dow Chemical Company, and The Sherwin-Williams Company
Other Prominent Vendors in the market are: Cabot, Carboline, Grand Polycoats, KANSAI PAINT, The Bayou Companies, Mascoat, Nippon Paint, Sharpshell Industrial Solutions, Superior Products International, Synavax, and Tenaris.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in R&D activities. The ongoing R&D activities and investments in nanotechnology-based thermal insulation coatings will boost the global thermal insulation coating market during the forecast period. These coatings offer superior strength and thermal resistance. The high-performance thermal insulation coating with nano-sized internal architecture is expected to witness increased use in a variety of industrial applications to inhibit the transfer of heat. Innovations, technological breakthroughs, and studies are carried out for expanding the application of thermal insulation coatings and driving their demand”
According to the report, one of the major drivers for this market is Growing demand from manufacturing industries. The manufacturing industry is the largest end-user of thermal insulation coating due to the increasing need for ensuring energy efficiency and heat insulation for manufacturing tanks, pipes, vessels, and reactors.
Further, the report states that one of the major factors hindering the growth of this market is Volatile raw material prices. A majority of the raw materials used in the thermal insulation coating are supplied by oil and gas companies. Main raw materials for the producing thermal insulation coating are the downstream products of crude oil. Additives, binders, resins, and pigments are some of the common raw materials used to produce thermal insulation coating. Fluctuations in crude oil prices negatively affect the price of raw materials, thereby influencing the cost of thermal insulation coating.
Akzo Nobel, Jotun, PPG Industries, The Dow Chemical Company, The Sherwin-Williams Company, Cabot, Carboline, Grand Polycoats, KANSAI PAINT, The Bayou Companies, Mascoat, Nippon Paint, Sharpshell Industrial Solutions, Superior Products International, Synavax, and Tenaris.
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