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.
Browse full research report on High Temperature Coatings
Market: http://www.grandviewresearch.com/industry-analysis/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.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
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
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Italy
- Russia
- Asia
Pacific
- China
- India
- Japan
- South
Korea
- Central
& South America
- Brazil
- Middle
East & Africa
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-high-temperature-coatings-market
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, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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