Heat Resistant Coating Market Outlook 2030
Heat-resistant coatings have properties, for example, water opposition, durability, shading maintenance, corrosion resistance, and amazing execution upon openness to high temperatures. Heat-resistant coatings are increasingly becoming an important part of various commercial and industrial applications. Heat-resistant coatings are utilized in several industries including construction, oil & gas, bedding & furniture, transportation & aerospace, packaging, and others. Similarly, one of the types is Silicone resins which have magnificent properties on protective coatings and exhaust systems, especially which is exposed to extreme temperatures and rapid fluctuations in temperature. Properties of heat-resistant coating systems are determined primarily by comprises of binders, fillers, and pigments. Silicone resin coatings can oppose temperatures in excess of 600°C without getting suffering adhesion failure. These are withstanding abrasion, chemicals, and light. They possess patentability and good compatibility with other systems. This load of properties normally confer shine to the surface on which heat-safe coatings are applied. The covering thickness goes from two or three hundred micrometers to millimeters. These coatings cover components from high and prolonged heat loads through the utilization of thermally insulating materials that can sustain an appreciable difference between the temperatures of the load-bearing alloy and the coating surface.
COVID-19 Impact analysis
- Automotive industry has been severely affected due to the nationwide lockdowns. It has hampered the automotive production in various countries. Being the major application area for heat resistance coating, it restricts the growth prospects for the heat resistance coating market.
- The lockdown situation has brought about the shutdown of various manufacturing units of heat resistance coatings which brought about a decline in sales and also disrupted the supply chain.
- During the pandemic, the building & construction, consumer goods, industrial and equipment were temporarily on halt, which has resulted in less consumption of heat resistance coating in these industries, which in turn has adverse impact on the heat resistance coating market.
Top Impacting Factors
Expanded utilization of the heat resistant coating in industrial such as business applications has supported the development of the global heat resistant market. Furthermore, an increment in the demand for heat resistant coatings from the industry is additionally driving the growth of the global heat resistance coating market. The utilization of trend setting innovation in the manufacturing of these kinds of coating is additionally one of the primary reasons that are enhancing the global heat resistance coating market. On the other hand, the significant expense of work is the principal reason restraining the growth of the global heat resistance coating market. Moreover, the significant expense for transportation of heat resistance coatings is additionally one of the critical factors that hamper the growth of the global heat resistance coating market. Also, the heavy sum for support and maintenance is one of the fundamental reasons that are decreasing the growth of the global market. These fire-resistant coatings are not only used in new construction plans but also in the maintenance of old projects and buildings for commercial buildings and residential purposes. With increase in focus on clean energy and building safety, stricter regulations are in effect to renovate older buildings. This factor can potentially increase the demand for heat resistant coatings across the globe.
- In May 2020, Hempel A/s has started the development of new production line in Yantai Chemical Industrial Park, China. The plant will have a production limit of more than 100,000 tons per year and will be initiated by 2021.
- In December 2019, The Sherwin-Williams Company declared the launch of another new 4,200-square-feet store in Alexandria Bay, New York, U.S.
- In July 2019, The Sherwin-Williams Company opened another brand-new store in Florida, U.S.
- In September 2020, Etex Group had an acquisition with the UK-based detached fire insurance organization named FSi Limited, having a production unit in Measham, East Midlands, and a distribution place in London.
- In August 2019, The Sherwin-Williams Company procured and had acquisition with the business and assets of Dresdner Lackfabrik Novatic in Germany, Poland, and the Czech Republic.
- In May 2019, Teknos Group acquired the Czech Republic-based Finnproduct, a wholesaler, to extend its client base to the homegrown market
- In March 2019, AkzoNobel N.V. dispatched another fire protection coating system for the wooden structure elevation, which got endorsed in Europe.
- In March 2019 Sika AG launched epoxy intumescent fire insurance coating for underlying steel under the brand name Sika Unitherm Platinum-120, for interior or exterior application.
Key Benefits of the Report
- This study presents the analytical depiction of the heat resistant coating industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the heat resistant coating market share.
- The current market is quantitatively analyzed to highlight the heat resistant coating market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed heat resistant coating market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the heat resistant coating Report
- Who are the leading market players active in the heat resistant coating market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- Which Government regulations might challenge the status of key regional markets?
- What are the key barriers to enter for the new players in the market?
- What value proposition should businesses aim at while making new research and development funding?
Heat Resistant Coating Market Report Highlights
By Resin Type
By Product Type
By End User
Key Market Players
Sherwin-Williams, Etex group, Sika, Jotun, Hempel, Teknos, RPM International, AkzoNobel, PPG, Kansai Paints