The global Heat Resistant Coatingsmarket was valued at USD 4.83billion in 2016 and is projected to reach USD 7.49billionby 2025, growing at a CAGR of 5.00% from 2017 to 2025.
The rising cooling costs in commercial complexes and automotive are the major factors driving demand for heat resistant coatings. The trending concept of energy efficient buildings will play a major role in augmenting market demand. The increasing infrastructure investments in developing countries is expected to provide new growth avenues for market growth.
1. Market Drivers
1.1 Increasing demand from automotive and consumer goods application
1.2 Investments in infrastructure
2. Market Restraints
2.1 Legislations banning the usage of hazardous chemicals
2.2 Raw material price volatility
The global Heat Resistant Coatingsmarket is segmented on the technology, resin type, application, and region.
1. By Technology:
1.1 Liquid Based
1.2 Powder Based
2. By Resin Type:
2.3 Silicon Resin
2.4 Modified Resins
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3. By Application:
3.1 Building and Construction
3.2 Automotive and Transportation
3.4 Consumer Goods
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Akzonobel NV
2. Axalta Coating Systems
3. Hempel A/S
4. Jotun A/S
5. PPG Industries Inc.
6. The Sherwin Williams Company
7. Kansai Paint Co. Ltd.
8. RPM International Inc.
10. KCC Corporation
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These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.