Selbyville, Delaware, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Heat Resistant Coating Market is estimated to be valued at USD 10.3 billion in revenue by 2032, as per a recent study by Global Market Insights Inc.
The industry growth is driven by the increasing demand from industries that operate under high-temperature conditions, such as aerospace, automotive, and power generation. For instance, in July 2023, SABIC introduced SABIC PP compound H1090 and Stamax 30YH611 resins for sheet extrusion and thermoforming processes. In the aerospace industry, heat-resistant coatings are necessary to protect engine components, exhausts, and other crucial components at extreme temperatures. The automotive sector also relies on these coatings for exhaust manifolds, turbochargers, engine blocks and other parts to increase performance and longevity.
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The introduction of advanced, silicone-based, and polymer-based heat-resistant coatings is offering superior thermal properties, chemical resistance, and durability. Increased emphasis on sustainability is fueling the demand for these coatings as they help improve the energy efficiency of industrial coatings and reduce maintenance costs. Growing attention to materials and modernization, especially in developing countries, is increasing the need for heat-resistant coatings in construction, such as for steel structures, high fire resistance and building material insulation.
Silicone resins to gain traction
Heat resistant coating market value from the silicone resins segment is slated to record high demand between 2024 and 2032 due to its exceptional thermal stability and versatility across various high-temperature applications. Silicone resin coatings can withstand extreme temperatures, typically above 600°C, without degradation, making them ideal for protecting automotive, aerospace, and industrial coatings. These coatings also provide excellent resistance to oxidation, weathering, and chemical exposure, increasing the durability and life of treated products. Silicone resins, owing to their flexibility and adhesion, can be used on a wide range of substrates including metals and composites.
Increasing adoption in consumer goods
With respect to end user industry, the heat resistant coating market from the consumer goods segment is poised to grow at a substantial rate during 2024- 2032 due to the rising demand for durable, high-performance products that can withstand elevated temperatures. Heat-resistant coatings are widely used in everyday appliances, such as ovens, grills, and cooking utensils to provide essential protection against thermal damage and enhance longevity. Increased consumer awareness of product safety and durability is driving manufacturers to incorporate advanced heat-resistant coatings to meet these expectations.
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Asia Pacific to emerge as a lucrative market
Asia Pacific heat resistant coating market size will register a strong CAGR through 2032, attributed to rapid industrialization, urbanization, and infrastructural development in countries like China, India, and Southeast Asian nations. Stricter environmental regulations and increased focus on energy efficiency are accelerating the adoption of heat-resistant coatings in various industries. Increasing disposable incomes and changing lifestyles are further pushing the demand for more durable and heat-resistant consumer products, stimulating the regional market growth.
Heat Resistant Coating Market Participants
Some of the renowned heat resistant coating companies are AkzoNobel N.V., Tikkurila OYJ, Axalta Coating System, Basic Needs Construction and Painting Company, LLC., Teknos Group, BASF SE, Sherwin Williams Company, Hempel A/S, Right Choice Painting and Construction, Jotun, RPM International Inc.,KCC Corporation, and Kansai Paintings Co. Ltd. These firms are focusing on several growth-based strategies to widen their customer base. For instance, in May 2023 Gerdau Graphene launched new additives for the paint & coatings industry for advancing graphene-enhanced materials for industrial use.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
