Heat Resistant Coating Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[219+ Pages Report] According to Facts and Factors, the heat resistant coating market size was worth USD 5892.4 million in 2021 and is estimated to grow to USD 8078.59 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.40% over the forecast period. The report analyzes the heat resistant coating market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the heat resistant coating market.

Market Overview

The broad spectrum thermal reflective coating technology is used to create heat-resistant coatings, also known as insulative coatings, which block heat radiations with a larger range of thermal energy. This coating decreases heat transfer through the coating because 90% of infrared and 85% of ultraviolet solar energy is reflected. These coatings function in both directions. These coatings have superior color retention, are more resistant to rust and water, are more durable, and function well when exposed to high temperatures. Additionally, it aids in stopping the spread of flames. Durability, heat, and corrosion resistance are excellent qualities used in the building, structural, automotive, and transportation sectors, among other industries. Heat-resistant coatings are frequently used in the building and construction sector. They ensure that various construction materials and products comply with important fire safety criteria and codes. Heat-resistant coatings are used to assist fires and enhance public safety. Rising consumer knowledge of fire safety gear will also fuel market value expansion. Another factor driving the market growth is the expanding use of heat-resistant coatings in defense equipment, which is expected to support market expansion.

COVID-19 Impact:

The market for heat-resistant coatings suffered due to the current coronavirus outbreak. The supply chain disruptions halted or suspended manufacturing, and travel restrictions significantly impacted the market. They impacted demand for paints and coatings, impacting demand from the architectural, automotive, and aerospace industries. One of the industries most severely impacted by the coronavirus pandemic is the paint and coatings industry for automobiles. The lockdown measures have compelled large manufacturers to halt or delay ongoing initiatives and plans. The failure of other auxiliary businesses has impacted the automotive coatings industry. Supply chain disruption has been one of the COVID-19 Pandemic's most serious effects. However, increasing demand from the construction and general industrial sectors is anticipated to improve paint and coatings demand in the wake of the COVID-19 Pandemic. Besides those working on significant projects like hospitals, many construction sites worldwide have suspended operations due to social alienation, self-isolation, and city-wide lockdowns. As a result, the construction industry has been hard damaged. All of this affected the overall consumption of paint and coatings worldwide. Demand and investment have fallen sharply in the industry. As a result, COVID-19 had an overall negative influence on the market. Among incoming patients.

Key Insights

• As per the analysis shared by our research analyst, the heat resistant coating market value is expected to grow at a CAGR of 5.40% over the forecast period.
• In terms of revenue, the heat resistant coating market size is worth USD 5892.4 million in 2021 and is estimated to grow to USD 8078.59 million by 2028.
• Expanding heat resistant coatings in defense equipment is expected to support market expansion.
• By technology, the power category dominated the market in 2021.
• By application, the automotive and transportation category dominated the market in 2021.
• The Asia Pacific dominated the heat resistant coating market in 2021.

Growth Drivers

• High demand and utilization drive the market growth

Changing lifestyle habits have led to increased use of fire-resistant materials and coatings in construction processes for infrastructure, industrial, commercial, and residential development. Construction, oil and gas, transportation and aerospace, bedding and furniture, and packaging are just a few of the end-use industries that use them. The market for heat resistant coatings will continue to expand at a rapid rate due to rising consumer awareness of the benefits of these products due to their ability to resist heat, corrosion, and chemicals, as well as the ease and affordability with which commercial equipment and pipelines for flammable liquids can now be coated.

Restraints

• High cost and supply chain disruptions may hinder the market growth

The market expansion for heat resistant coatings will be hampered by the high cost of labor and the high cost of transporting heat-resistant coatings. The high maintenance cost is another important aspect restricting the growth of the global market. The global epidemic has led to an increase in restrictions, which has hurt both supply and demand. Additionally, the market for heat resistant coatings will suffer from variations in raw material prices. This will make the market growth rate for heat resistant coatings more difficult.

Opportunity

• Growing investments and progress present market opportunities

In addition, rising investments in new infrastructure projects, housing developments, and non-residential building renovations offer lucrative chances to market participants from 2022 through 2029. The market for heat-resistant coatings will continue to increase in the future thanks to new developments and technological breakthroughs, as well as growing consumer awareness of their advantages.

Segmentation Analysis

The heat resistant coating market has been segmented into resin type, technology, and applications.

The heat resistant coating market segments are based on resin type, silicone, epoxy, acrylic, polyester, modified resin, and others. The silicone resin market is predicted to develop significantly in 2021. They can start as inorganic silicate coatings that cure to form a glassy layer and adhere securely to both masonry and steel substrates. They are practically UV-transparent and can produce a glassy layer. However, because of its great impact and abrasion resistance, epoxy resin is used in petrochemical, offshore, and oilfield plant applications. Phenolic, PTFE resin, alkyd, vinyl-acrylic resin, and polyurethane are a few examples of different types.

Based on technology, the market is classified into powder and liquid. Due to the strict environmental laws governing solvent-based goods that have forced coating producers to switch to powder-based products, the powder category is predicted to have the largest market share in 2021.

Based on application, the heat resistant coating market is segmented into automotive & transportation, consumer goods, building & construction, industrial, and others. The automotive and transportation industries are predicted to have the largest revenue share in 2021. Thrust cage bearings, gas filling tubes, wheel assemblies, exhaust gaskets, door strikers, brake clips, etc., require heat-resistant coatings in the automobile sector. Additionally, it is employed in the aerospace sector for compressor casings, combustion liners, pistons, blades, nozzles, pumps, turbine engines, etc. Chemicals, agriculture, storage tanks, and medical use are only a few of the many possibilities.

Recent Developments

• December 2019: Nap-Gard, a corrosion-resistant, high-temperature protective interior pipe coating, was introduced by Axalta Coatings for industrial oil and gas applications.

Report Scope

Regional Landscape

• The Asia Pacific expected to dominated the heat resistant coating market in 2021

The Asia Pacific dominated the global market for hearing-resistant coatings in 2021. Several main factors driving the expansion include the transportation sector, increasing FDI, new and expanding economies, low-cost labor, etc. The digitization wave has accelerated the growth of the service industry. The rapidly expanding service sector in Asia-Pacific is driving demand for homes and commercial real estate. However, these countries' absence of such infrastructure is also causing growth in construction activity in such countries. The use of heat resistant coatings for flammable fluid pipelines is expanding dramatically due to discoveries and technological advancements in the region, particularly in China, Japan, and India. This is due to the region's ongoing rapid industrialization.

Competitive Landscape

• AkzoNobel N.V. 
• Sherwin Williams Company 
• PPG Industries Inc. 
• Axalta Coating Systems 
• Jotun A/S 
• Hempel A/S 
• Kansai Paints Co. Ltd 
• KCC Corporation 
• RPM International Inc. 
• Tikkurila OYJ 

Heat Resistant Coating Market is segmented as follows:

By Resin Type:

• Silicone
• Epoxy
• Acrylic
• Polyester
• Modified Resins
• Others

By Technology:

• Powder
• Liquid

By Application:

• Automotive & Transportation
• Consumer Goods
• Building & Construction
• Industrial
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America