Hot Temperature Coatings are the protective coverings which are
applied on materials or equipment to provide the substrate, protection from corrosion
and abrasion. It has various significant properties such as excellent UV
resistance, anti-oxidative property, and reduced thermal fatigue. It is used to
provide flexibility, comfort, and biocompatibility to the product.
The Global High Temperature Coatings Market has been driven by its
growing consumption in various sectors such as aerospace, automotive, coil,
petrochemical, marine, metal, and stoves. Moreover, it is estimated that the
automotive segment is set to witness the highest growth in the market due to
rising substitution of heavy metals by lightweight materials.
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Competitive Analysis:
Some of the major players functioning in the Global High
Temperature Coatings Market are AkzoNobel N.V. (the Netherlands), The
Sherwin-Williams Company (U.S.), PPG Industries Inc. (U.S.), The Valspar
Corporation (U.S.), Axalta Coating Systems (U.S.), Jotun (Norway), Aremco
(U.S.), Carboline (U.S.), Hempel (Denmark), Belzona International Ltd. (U.K.),
among others.
Market Segmentation:
The Global High Temperature Coatings Market is segregated into
resin type, technology and end-use. On the basis of resin type, the market is
further categorized into epoxy, silicone, polyester, acrylic, alkyd, and
others. The most widely used resin type in the market is acrylic, due to its
growing consumption in construction and buildings, petrochemical and
electronics industries. It is predicted that the silicone segment is set to
grow at a higher CAGR due to its increasing use as a covering in food &
beverages industry and the benefits offered by the product such as ageing
resistance and heat stability.
On the basis of Technology, the market is segmented into water,
solvent and powder. Between these, the powder based product is the leading
segment in the market and is anticipated to observe a rapid growth due to its
non-toxic and reliable nature over chemical products. Moreover, the growing
demand of protection coatings in paints & coating, ink industries is likely
to fuel the water based products during the assessment period.
Segmental Analysis:
The Global High Temperature Coatings Market is spanned across five
key regions of the world namely Asia Pacific, North America, Europe, Latin
America, and the Middle East & Africa. Among these, Asia Pacific holds a
major portion of the global market and is anticipated to continue its dominance
due to rising demand for High Temperature Coatings in various applications.
Countries such as China, Japan and India are the major players in this region.
The North America region is estimated to witness a higher growth in the U.S.,
Canada and Mexico owing to increasing demand for protection coverings in
aerospace, automotive, and energy sectors. A recognized growth is observed in
the European region owing to the growing consumption of protection coatings in
kitchenware applications such as non-stick pans, cookers, and other equipment.
Moreover, it is projected that the advancing research & development of
product in the market has propelled this region to witness a significant growth
in Germany, the U.K. and Italy.
The Middle East & Africa is estimated to observe a significant
growth due to increasing consumption of High Temperature Coatings in oil &
gas, petrochemical and automobile industries. Additionally, the growing demand
of silicon and acrylic resins in architectural, paints and coating industries
is projected to boost the market in the Latin American region.
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