Insulation Paints and Coatings Market Sales Revenue to Cross US$ 11.8 billion in 2028

Global Market Study on Insulation Paints and Coatings: Asia Pacific to Lead Robust Growth in Revenue Through 2026

NEW YORK, NEW YORK, UNITED STATES, April 28, 2023/EINPresswire.com/ — The Insulation Paints and Coatings Market was estimated to be worth USD 7.9 billion in 2022 and is projected to expand to USD 11.8 billion by 2028, with a CAGR of 8.3%. The growth in the market is attributed to the increasing demand for insulation paints and coatings in the construction and automotive industries, as well as the rise in environmental awareness and government initiatives to reduce energy consumption.

Insulation paints and coatings are used to insulate the surface of buildings, pipes, and other equipment from heat, cold, and moisture. They offer thermal insulation and corrosion resistance, which are key properties for various industries, including construction, automotive, and aerospace. The insulation paints and coatings market has seen significant growth in recent years due to the increasing demand for energy-efficient buildings, as well as the need for protection against corrosion and weathering.

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Market Dynamics:
Increasing demand for energy-efficient buildings: With the rising awareness of the need to conserve energy and reduce greenhouse gas emissions, there is a growing demand for energy-efficient buildings. Insulation paints and coatings can help to reduce the amount of heat that is lost through the walls of a building, leading to lower energy consumption and cost savings.

Government regulations and policies: Many governments around the world have implemented regulations and policies to encourage the use of energy-efficient building materials. For example, the U.S. Environmental Protection Agency has established the Energy Star program to promote energy-efficient products, including insulation paints and coatings.

Growing construction industry: The global construction industry is experiencing steady growth, which is driving demand for insulation paints and coatings. This is particularly true in emerging economies, where there is a need for new housing and commercial buildings.

Technological advancements: Advancements in insulation paint and coating technology have made them more effective and affordable. For example, new formulations can provide better thermal insulation properties while also being more environmentally friendly.

Awareness about health and safety: Insulation paints and coatings can help to improve indoor air quality by reducing the amount of pollutants that enter a building. This is becoming increasingly important as people become more aware of the health risks associated with poor indoor air quality.

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Market Segmentation:
By Type (Acrylic, Epoxy, Polyurethane, Alkyd, YSZ)
Base Type (Water Based, Solvent Based, Powder Coating)
By End Use Industry (Manufacturing, Buildings & Construction, Oil & Gas, Automotive, Marine, Aerospace)

Regional Analysis:
Asia Pacific is the largest market for insulation paints and coatings, owing to the increasing demand for energy-efficient buildings and infrastructure development in the region. China, Japan, and India are the major markets in the region. Europe is the second-largest market, with countries such as Germany, France, and the UK contributing significantly to the market growth. North America is also a significant market, driven by the growing construction industry and the need for energy-efficient buildings.

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Key Players:

The insulation paints and coatings market is highly competitive, with many players competing for market share. Companies are constantly innovating and improving their products to stay ahead of the competition. Some of the key players in the market include Akzo Nobel, Shewrin Williams, PPG, Hy-Tech Thermal Solutions, Highland International, Okitsumo Inc., NISSIN SANGYO CO., LTD., Industrial Nanotech, Inc., Insuladd Environmental Products Ltd, Thermilate Roof and Wall Coatings Ltd., Kansai Paint Co. Ltd, Nippon Paint Holdings Co., Ltd., Isonem Paint & Insulation Technologies, Prolat S. Dimopoulos & Co. E.E., Thermilate Technologies Ltd (Thermilate Roof and Wall Coatings Ltd.)

Key Developments:
• The acquisition of Disa technology and Flexcrete Technologies, a UK-based business, was disclosed by Akzo Nobel in July 2017. Additionally, the corporation stated in October 2017 that its paints and coatings business would merge with Axalta Coating Systems. However, the agreement fell through soon after.
• On June 16, 2017, PPG Industries inaugurated a US$ 49 million paint and coatings manufacturing facility in the Russian Lipetsk region. Additionally, the business opened a US$ 3 million packaging coatings production plant in Oak Creek, Wisconsin, in April 2017.
• The Valspar Corporation, a U.S.-based company that produces a range of coatings for the paint and coatings market, was acquired by The Sherwin-Williams Company in March 2016, according to the company’s announcement.

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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on ‘green alternatives’, recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – ‘The Way Forward’.

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