Thermal Insulation Coatings Market: Current Status, In-depth Analysis and Forecast Outlook 2031

The global thermal insulation coatings market is anticipated to grow at a CAGR of 5.5% during the forecast period. The rising popularity of nanotechnology-based thermal insulation coatings is due to its benefits such as thermal resistance, and high strength. Recent developments in materials science and nanotechnology have enabled the development of novel methods for thermal insulation. For instance, in August 2021, Syneffex launched a highly chemical-resistant thermal insulation, EPX-CHEM. It is a modified version of the Company's EPX-H2O which solves the problem of Corrosion under Insulation (CUI) for over a decade. Both products can be applied to equipment in service at temperatures up to 400 Degrees Fahrenheit. Nanotechnology solves the problem of thermal insulation for chemical tanks and chemical plant process equipment. 

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Moreover, in April 2021, Nippon Paint Marine Coatings Co., Ltd., launched the next-generation industry-first nanotechnology-based hydrolysis antifouling paint “FASTAR”. It is developed with the concept of “Faster and More Eco-friendly,” the ship bottom antifouling paint “FASTAR” is designed as an eco-friendly marine coating that improves the operation of vessels by minimizing the impact of seawater temperature, ship speed, and other factors affecting the efficiency and environmental properties of vessels.

Furthermore, thermal insulation coatings manufacturers are expanding in terms of production capacity, product line, infrastructure, and providing innovative solutions to cater to the growing market requirements. For instance, in February 2022, Synthos launched new BIO-based acrylic dispersion for transparent and pigmented wood coatings. SYNEXIL AW90CX is manufactured using a key raw material, approximately 45% of which is derived from renewable sources. The content of BIO raw materials in the newly developed dispersion is determined by the ASTM D6866-20 standard, which specifies the vegetable carbon content in the product.

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Market Coverage

• Segment Covered- 

o             By Product

o             By Application

• Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             Rest of the World

• Competitive Landscape- including Akzo Nobel N.V., Axalta Coating Systems, Bayou Co., Cabot Corp., Caparol Paints LLC, Delta T & Protective Products, Evonik Industries AG, and others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Thermal Insulation Coatings Market Report Segment

By Product

• Acrylic
• Epoxy
• Polyurethane
• Yttria Stabilized Zirconia
• Mullite

By Application

• Building & Construction
• Automotive & Transportation
• Aerospace & Defense
• Manufacturing
• Others

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