High Temperature Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The market is segmented by Type (Epoxy, Silicone, Polyester, Acrylic, Alkyd, and Others), Technology (Water, Solvent, and Powder), End-user Industry (Aerospace & Defense, Automotive, Petrochemical, Building & Construction, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

High Temperature Coatings Industry Overview

High Temperature Coatings Market Overview
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 4 %

Major Players

High Temperature Coatings Market Major players

*Disclaimer: Major Players sorted in no particular order

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High Temperature Coatings Market Analysis

The market for high-temperature coatings is expected to grow at a CAGR of over 4% globally. Major factors driving the market studied are the growing demand from the petrochemical industry and the shift in preference toward solvent-free high-temperature coatings. On the flip side, stringent environmental regulations and unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.

  • The petrochemical industry is expected to dominate the global high-temperature coatings market over the forecast period. 
  • Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.

High Temperature Coatings Industry Segments

The High Temperature Coatings Market report includes:

Type
Epoxy
Silicone
Polyester
Acrylic
Alkyd
Others
Technology
Water
Solvent
Powder
End-user Industry
Aerospace & Defense
Automotive
Petrochemical
Building & Construction
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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High Temperature Coatings Market Trends

This section covers the major market trends shaping the High Temperature Coatings Market according to our research experts:

Growing Demand from Petrochemical Industry

  • The petrochemical industry is constantly faced with problems like erosion, corrosion, chemical attack, wear, abrasion and mechanical damage which cause deterioration of infrastructure and equipment over time.
  • High-temperature coatings are designed to withstand temperatures from 150°C to 800°C. It helps in minimizing heat losses, keeping corrosion under insulation in check, maintain thermal fatigue and, maintain efficiency.
  • Energy and Petrochemical industries are among the key consumers owing to the use of heater-treater, separator, furnaces, and transport of heated materials. High-temperature coatings help decrease energy losses and reduce non-productive time.
  • Epoxy coatings offer high heat and chemical resistance and are widely used in refineries, power generation, and secondary containment. Silicone coatings can withstand intense temperatures of over 550°C. 
  • Owing to the above mentioned factors, the demand for high-temperature coatings from petrochemical industry is expected to to increase over the forecast period.
High Temperature Coatings Market Share

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region represents the largest and the fastest-growing market for heat-resistant coatings. High economic growth rate, growing manufacturing industries, low-cost labor, increasing foreign investments, increasing demand from end-user industries, and the global shift in production from developed countries to emerging countries in the region are some of the major factors leading to the growth of the market in the region.
  • In addition, the escalating growth of the construction and petrochemical industries in the region are further driving the global market in the coming years.
  • China is the leading region in the Asia Pacific, as this region is the largest economy, in terms of GDP. Constant demand is observed from the defense, power generation, and aerospace industries.
  • The Chinese aircraft industry depicted significant growth over the years. According to Boeing, China is estimated to require around 7,600 new commercial aircraft, valued at USD 1.2 trillion, over the next two decades.
  • The National Development and Reform Commission of China authorized plans to build infrastructure projects in China and approved the construction of seven projects with a total investment of CNY 485 billion (~USD 72 billion) in January 2019.
  • Owing to the above mentioned factors, the demand for high-temperature coatings in Asia-Pacific region is expected to grow considerably over the forecast period.
High Temperature Coatings Market Value

High Temperature Coatings Market Competitor Analysis

The global high-temperature coatings market is moderately fragmented in nature, with the presence of a large number of regional and international manufacturers. Some of the major companies are PPG Industries, Inc., The Sherwin-Williams Company, Axalta Coating Systems, LLC, Jotun, and Akzo Nobel N.V. among others.

High Temperature Coatings Market Top Players

  1. PPG Industries, Inc.

  2. The Sherwin-Williams Company

  3. Axalta Coating Systems, LLC

  4. Akzo Nobel N.V.

  5. Jotus

*Disclaimer: Major Players sorted in no particular order

PPG Industries, Inc., The Sherwin-Williams Company, Axalta Coating Systems, LLC, Jotun, and Akzo Nobel N.V.

High Temperature Coatings Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from Petrochemical Industry

      2. 4.1.2 Shift in Preference Toward Solvent-Free High Temperature Coatings

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations

      2. 4.2.2 Unfavourable Conditions Arising Due to COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Epoxy

      2. 5.1.2 Silicone

      3. 5.1.3 Polyester

      4. 5.1.4 Acrylic

      5. 5.1.5 Alkyd

      6. 5.1.6 Others

    2. 5.2 Technology

      1. 5.2.1 Water

      2. 5.2.2 Solvent

      3. 5.2.3 Powder

    3. 5.3 End-user Industry

      1. 5.3.1 Aerospace & Defense

      2. 5.3.2 Automotive

      3. 5.3.3 Petrochemical

      4. 5.3.4 Building & Construction

      5. 5.3.5 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Akzo Nobel N.V.

      2. 6.4.2 Axalta Coating Systems, LLC

      3. 6.4.3 Carboline

      4. 6.4.4 Chemco International Ltd

      5. 6.4.5 General Magnaplate Corporation

      6. 6.4.6 Hempel A/S

      7. 6.4.7 Jotun A/S

      8. 6.4.8 PPG Industries, Inc.

      9. 6.4.9 The Sherwin-Williams Company

      10. 6.4.10 Whitford

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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High Temperature Coatings Market Research FAQs

The High Temperature Coatings Market is studied from 2018 - 2028.

The High Temperature Coatings Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

PPG Industries, Inc., The Sherwin-Williams Company, Axalta Coating Systems, LLC, Akzo Nobel N.V., Jotus are the major companies operating in High Temperature Coatings Market.

High Temperature Coatings Industry Reports

In-depth industry statistics and market share insights of the High Temperature Coatings sector for 2020, 2021, and 2022. The High Temperature Coatings research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the High Temperature Coatings report PDF.

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