High temperature coatings are gaining rapid traction since the past decade, owing to their resistance to high-temperature corrosion and oxidation. Other exclusive properties such as flexibility in terms of thickness and composition of coatings, high ductility, and others, are making them highly sought-after in metal processing, coil coatings, automotive, and other industries.
According to a report titled “Global Steel Report”, published by the International Trade Administration on 1st November 2019, global crude steel production has been growing in a majority of years since 2006. As per the report, in 2014, global production hit a then record high of 1.67 billion metric tons, while it increased to 1.80 billion metric tons in 2018, a new record. While these statistics depict high potential from the steel industry, which is a part of the metal processing industry, especially for epoxy resins, it also indicates the growth scope awaiting high temperature coating manufacturers in the years to come.
According to Fact.MR, the global high temperature coatings market is predicted to ascend at over 4% CAGR during the forecast period of 2021 to 2031.
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Key Takeaways from High Temperature Coatings Market Study
- Surge in demand for epoxy high temperature coatings to bolster growth of manufacturers.
- Rise in requirement from aerospace & defense and automotive industries to fuel sales of high temperature coatings.
- China and Japan to remain among the fastest-growing markets.
- Asia Pacific to maintain its lead in the global market, followed by Europe and North America.
- The United States to hold a major share in the North America market.
- Germany remains the epicenter of the high temperature coatings market in Europe.
Competitive Landscape
The global high temperature coatings market is rapidly gaining momentum, making the competition fiercer for key players. In order to hold a dominant position, key players are launching a variety of products more frequently.
For instance,
- Jotun A/S launched its new unique high temperature coating Jotatemp 1000 Ceramic, due to increasing demand from the hydrocarbon processing industry, in 2017
- Hempel A/S launched its new extensive range of products, such as Hempel’s Silicone Aluminium 56914, Hempel’s Silicone Acrylic 56940, and others, from 2015 to 2020.
Report Benefits & Key Questions Answered
- High Temperature Coatings Market Company & brand share analysis: Company and brand share analysis on High Temperature Coatings Market reveals how much market share is captured by Tier 1, Tier 2, and Tier 3 players
- High Temperature Coatings Market Historical volume analysis: The industry analysis provides data & insights on historical volume sales of High Temperature Coatings Market
- High Temperature Coatings Market Category & segment level analysis: Fact.MR’s High Temperature Coatings Market sales outlook offers category and segment level analysis on lucrative and nascent product types. Market players can use this information to identify sales potential and set sales targets at local, country, and regional level.
- High Temperature Coatings Market Consumption by demographics: The market intelligence study provides consumption by demographics analysis so market players can design their product and marketing strategies on the basis of high-value consumers
- Post COVID consumer spending on High Temperature Coatings Market: The report includes post COVID consumer spending analysis. This information will help business leads understand the shifts in purchasing power and behavior
- Manufacturing trend analysis: Vital information on how market players are aligning their manufacturing strategies with respect to evolving consumer sentiments
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What insights does the High Temperature Coatings Market report provide to the readers?
- High Temperature Coatings Market fragmentation on the basis of product type, end use, and region.
- Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
- Collaborations, R&D projects, acquisitions, and product launches of each High Temperature Coatings Market player.
- Various regulations imposed by the governments on the consumption of High Temperature Coatings Market in detail.
Rise in Demand from Automotive Industry Fuelling Sales
With increase in requirement for automotive and diesel engines to run cleaner and more efficiently than ever before, the need for thermal management and high temperature-resistant coatings is rising rapidly. High temperature coatings are an integral part of the automotive sector, as they are required in various applications such as-
- Electrical components which are sensitive to high temperature
- Intake manifolds
- Exhaust manifolds
- Exhaust gaskets
As a result, steady growth of the automotive industry is working in favor of stakeholders in the high temperature coatings industry. According to a report titled “Automotive Industry Spotlight”, published by Select USA, the United States has one of the largest automotive industries in the world, while in 2018, U.S. light vehicle sales reached 17.2 million units. This implies higher demand for high temperature coatings over the coming years.
Market Segmentation
- By Application
-
- Aerospace & Defense
- Automotive
- Coil Coatings
- Petrochemical
- Marine
- Metal Processing
- Stoves & Grills
- Other Applications
- By Resin
- Epoxy
- Silicone
- Polyester
- Acrylic
- Alkyd
- Other Resin Types
- By Region
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
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