Report cover image

Thermal Insulation Coating Market Growth, Size, Trends Analysis- By Product, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034

Publisher SPER Market Research Pvt. Ltd.
Published Oct 31, 2025
Length 231 Pages
SKU # SPER20694558

Description

Thermal Insulation Coating Market Introduction and Overview

According to SPER Market Research, the Global Thermal Insulation Coating Market is estimated to reach USD 20321.12 million by 2034 with a CAGR 6.88%.

The report includes an in-depth analysis of the Global Thermal Insulation Coating Market, including market size and trends, product mix, Applications, and supplier analysis. The global Thermal Insulation Coating Market was valued at USD 10,446.8 million in 2024 and is expected to grow at a CAGR of over 6.88% from 2025 to 2034. Stricter government regulations, such as the European Union's revised Energy Efficiency Directive (EU/2023/1791), emphasize the need for greater energy savings. At the same time, technological progress is fostering innovation in thermal insulation materials. Research at Universiti Putra Malaysia demonstrated that adding just 5% aerogel powder to paint can improve thermal insulation by 7%. Likewise, Singapore's Institute of Packaging Industry (IPI) created silica aerogel-based insulation paint capable of reducing surface temperatures by up to 12°C. These innovations enhance efficiency, acoustic performance, and compliance with eco-friendly building standards.

By Product:

Yttria-Stabilized Zirconia (YSZ) dominated the market in 2024, driven by its exceptional thermal resistance and ability to withstand extreme temperatures. Its coatings deliver superior thermal barrier performance, making them widely used in aerospace, automotive, and power generation industries, supported by continuous advancements in research and development. Meanwhile, epoxy coatings are projected to experience the fastest growth due to their durability and enhanced dimensional stability, particularly in construction and manufacturing. Their environmentally friendly, VOC-free formulation aligns with sustainability goals, boosting demand for thermal insulation coatings.

By Application:

The manufacturing sector held the leading share in 2024, driven by strict energy efficiency regulations that push industries to adopt thermal insulation solutions for minimizing heat loss and improving operations. Growing emphasis on worker safety and compliance with regulatory standards further supports adoption, while improved process efficiency and reduced maintenance costs enhance demand. The automotive and transportation sector is expected to expand most rapidly, fueled by the rise of electric vehicles requiring advanced thermal management for batteries, passenger comfort, and compliance with stringent emissions and fuel efficiency standards.

Regional Insights:

The Asia Pacific thermal insulation coating market held the leading position globally in 2024, supported by strong investments in construction and infrastructure that are fueling demand for energy-efficient solutions. Rising awareness of energy conservation and sustainability is also pushing industries to adopt advanced insulation coatings. The region benefits from abundant raw material availability and the presence of key manufacturers, further strengthening growth prospects. Within Asia Pacific, China emerged as the leading market, driven by large-scale infrastructure projects and strict enforcement of Minimum Energy Performance Standards for buildings, which promote high-efficiency heating and insulation solutions while reducing emissions across sectors.

Market Competitive Landscape:

The Thermal Insulation Coating Market is highly consolidated. Some of the market key players are Evonik Industries AG, Mascoat, Carboline, Nippon Paint Holdings Co., Ltd., Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Kansai Paint Co., Ltd., Grand Polycoats Company Pvt. Ltd., and Sika AG.

Recent Developments:

In August 2024, PPG introduced its PPG PITT-THERM 909 spray-on insulation coating, designed to improve safety and operational efficiency in high-temperature environments across the gas, oil, chemical, and petrochemical sectors.
In October 2023, Sherwin-Williams launched the Heat-Flex 7000 thermal insulative coating system, offering energy efficiency and personnel protection for industrial applications. With a single spray application, it delivers enhanced insulation while safeguarding against heat and corrosion.

Scope of the report:

Report Metric Details
Market size available for years 2021-2034
Base year considered 2024
Forecast period 2025-2034
Segments covered By Product, By Application
Regions covered North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa

Companies Covered

Evonik Industries AG, Mascoat, Carboline, Nippon Paint Holdings Co., Ltd., Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Kansai Paint Co., Ltd., Grand Polycoats Company Pvt. Ltd., and Sika AG.

Key Topics Covered in the Report

Global Thermal Insulation Coating Market Size (FY'2021-FY'2034)
Overview of Global Thermal Insulation Coating Market
Segmentation of Global Thermal Insulation Coating Market By Product (Acrylic, Epoxy, Polyurethane, YSZ, Mullite, )
Segmentation of Global Thermal Insulation Coating Market By Application (Building & Construction, Automotive & Transportation, Aerospace & Defense, Manufacturing, Others)
Statistical Snap of Global Thermal Insulation Coating Market
Expansion Analysis of Global Thermal Insulation Coating Market
Problems and Obstacles in Global Thermal Insulation Coating Market
Competitive Landscape in the Global Thermal Insulation Coating Market
Details on Current Investment in Global Thermal Insulation Coating Market
Competitive Analysis of Global Thermal Insulation Coating Market
Prominent Players in the Global Thermal Insulation Coating Market
SWOT Analysis of Global Thermal Insulation Coating Market
Global Thermal Insulation Coating Market Future Outlook and Projections (FY'2025-FY'2034)
Recommendations from Analyst

Table of Contents

231 Pages
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Thermal Insulation Coating Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Thermal Insulation Coating Market
7. Global Thermal Insulation Coating Market, By Product, (USD Million) 2021-2034
7.1. Acrylic
7.2. Epoxy
7.3. Polyurethane
7.4. YSZ
7.5. Mullite
8. Global Thermal Insulation Coating Market, By Application, (USD Million) 2021-2034
8.1. Building & Construction
8.2. Automotive & Transportation
8.3. Aerospace & Defense
8.4. Manufacturing
8.5. Others
9. Global Thermal Insulation Coating Market, (USD Million) 2021-2034
9.1. Global Thermal Insulation Coating Market Size and Market Share
10. Global Thermal Insulation Coating Market, By Region, 2021-2034 (USD Million)
10.1. Asia-Pacific
10.1.1. Australia
10.1.2. China
10.1.3. India
10.1.4. Japan
10.1.5. South Korea
10.1.6. Rest of Asia-Pacific
10.2. Europe
10.2.1. France
10.2.2. Germany
10.2.3. Italy
10.2.4. Spain
10.2.5. United Kingdom
10.2.6. Rest of Europe
10.3. Middle East and Africa
10.3.1. Kingdom of Saudi Arabia
10.3.2. United Arab Emirates
10.3.3. Qatar
10.3.4. South Africa
10.3.5. Egypt
10.3.6. Morocco
10.3.7. Nigeria
10.3.8. Rest of Middle-East and Africa
10.4. North America
10.4.1. Canada
10.4.2. Mexico
10.4.3. United States
10.5. Latin America
10.5.1. Argentina
10.5.2. Brazil
10.5.3. Rest of Latin America
11. Company Profile
11.1. Evonik Industries AG
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Mascoat
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Carboline
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Nippon Paint Holdings Co., Ltd.
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Akzo Nobel N. V.
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. PPG Industries, Inc.
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. The Sherwin-Williams Company
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Kansai Paint Co., Ltd.
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Grand Polycoats Company Pvt. Ltd.
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Sika AG
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Request A Sample
Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us