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
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.
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