The global high temperature coatings market is expected to reach USD 4.74
billion by 2024, according to a new report by Grand View Research, Inc. Surging
thermally efficient coatings requirement that can protect industrial and
commercial equipment in moderate to extreme temperature conditions is expected
to drive industry growth over the next eight years.
Technological innovations and significant R&D spending by key
industry participants regarding commercializing single-component coatings for
multiple applications is anticipated to stimulate market growth over the
forecast period. Companies have been constantly involved in developing finished
products which can be used for wide range of operating temperatures ranging
from 150 degrees Celsius to 750 degrees Celsius in addition to providing
corrosion resistance.
High temperature coating demand in cookware is anticipated to emerge as
fastest growing end-use segment over the forecast period. In terms of demand,
the sector is expected to grow at a CAGR of 5.5% over the forecast period.
Major appliances such as bakeware, induction appliances, and food
processors have gained significance in commercial and residential sectors. This
segment has witnessed significant growth in France, Japan, and South Korea
owing to growing awareness towards innovative cooking technologies that sustain
the nutrient levels of the food.
In depth research report on High Temperature
Coatings Market
Further key findings from the study suggest:
·
The global
high temperature coatings market demand was 1,009.9kilo tons in 2015 and is
expected to reach 1,444.1 kilo tons by 2024, growing at a CAGR of 4.1% from
2016 to 2024
·
Acrylic was
the leading product segment and accounted for 23.3% of global high temperature
coatings revenue in 2015.The segment is anticipated to reach a net worth of USD
1,117.1 million by 2024.
·
Powder coating
is anticipated to witness the highest growth over the forecast period. The segment
is anticipated to grow at a CAGR of 5.4% in terms of demand from 2015 to 2024.
·
The energy
& power sector emerged as the leading high temperature coating end-use
segment and accounted for 16.4% of total demand in 2015. The segment is
expected to reach a net volume of 34.7 by 2024 in the U.S.
·
Asia Pacific
was the major high temperature coating market and was valued at USD 1,174.8
million in 2015. The region is also expected to witness the fastest growth rate
over the forecast period.
·
Key players
operating in the global industry include BASF, PPG Industries,
Sherwin-Williams, Axalta Coating Systems, Jotun AS, and AkzoNobel NV. Major
strategy adopted by the global players includes sourcing of raw materials at
low cost thereby enhancing their profit margin and gain competitive edge over
other industry participants.
Grand View Research has segmented the high temperature coatings market on
the basis of product, technology, end-use, and region:
Global High Temperature Coatings Product
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Epoxy
·
Silicone
·
Polyethersulfone
·
Polyester
·
Acrylic
·
Alkyd
·
Others
Global High Temperature Coatings Technology
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Solvent borne
·
Waterborne
·
Powder
Global High Temperature Coatings End-Use
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
Energy &
Power
·
Metal
processing
·
Cookware
appliances
·
Stoves &
grills
·
Marine
·
Automotive
·
Coil coating
·
Aerospace
·
Building &
Construction
·
Others
Global High Temperature Coatings End-Use
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
France
o
Germany
o
UK
o
Italy
o
Russia
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
·
Central &
South America
o
Brazil
·
Middle East
& Africa
Browse more research reports of this category:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
No comments:
Post a Comment