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Insulation Coatings Market May Cross $11.3 Billion by 2025 – Exclusive Report by MarketsandMarkets™

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Insulation Coatings Market May Cross $11.3 Billion by 2025 – Exclusive Report by MarketsandMarkets™

April 20
21:36 2023
Insulation Coatings Market May Cross $11.3 Billion by 2025 - Exclusive Report by MarketsandMarkets™
Insulation Coatings Market by Type (Acrylic, Polyurethane, Epoxy, Mullite, YSZ), End-Use Industry (Industrial, Building, and Construction, Aerospace, Automotive, Marine), and Region (North America, South America, Europe, APAC, MEA)

The global insulation coatings market is estimated to be USD 8.5 billion in 2020 and is projected to reach USD 11.3 billion by 2025, at a CAGR of 5.8% between 2020 and 2025. Protection of equipment, pipelines, and other components from harsh environments to make them energy efficient are the major drivers of the global insulation market during the forecast period.

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The global insulation coatings market is projected to grow at an average pace during the forecast period. The demand for insulation coatings in developing countries is likely to be driven by the need to increase the efficiency of various industrial processes. The market has prospect for growth in regions where the investments are done in various end use industries of insulation coatings. For example, in Asia Pacific (APAC), China, India, Japan, Indonesia, Vietnam and Malaysia are high potential markets. In the North America, US, Canada and Mexico are the most attractive markets. The increase in demand for insulation coatings in industrial, aerospace, and automotive industries for energy efficiency and substrate protection is driving the market in the region.

 With the development of new applications, the demand for insulation coatings is expected to witness substantial growth during the forecast period. For instance, electric vehicles require insulation coating in battery systems and other components. The rising EV production and government initiatives to promote EV sales are expected to generate newer opportunities for the market players in the insulation coatings market in the coming years.

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Acrylic-based Insulation coatings are waterborne coatings and account for the largest share in the overall Insulation coatings market. Acrylic-based Insulation coatings are the ideal replacement for traditional insulation materials and are used because of their ease of maintenance and ability to prevent CUI.

APAC is the fastest-growing market for insulation coatings, followed by North America. The demand for insulation coatings is increasing significantly in developing countries such as China and India. The growing industrial activities, investments and labour costs in these countries are the main drivers for insulation coatings market.

The key companies profiled in the insulation coatings market research report are AkzoNobel (Netherland), PPG Industries (United States), Sherwin-Williams Company (United States), Kansai (Japan), Jotun (Norway), Nippon Paint (Japan), Mascoat (Texas), Carboline (US), Sharp shell Industries (US), Axalta  Coating System (US) and others.

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