Selbyville, Delaware,, Dec. 10, 2024 (GLOBE NEWSWIRE) --
The thermal insulation coating market revenue to cross USD 16.6 billion by 2032, as reported in a research study by Global Market Insights Inc. Increasingly stringent energy efficiency regulations and carbon emission standards are driving the adoption of thermal insulation coatings. These coatings provide a cost-effective solution to meet energy performance standards, making them essential for new construction projects and the retrofitting of older structures. As governments worldwide promote sustainable practices, incentives and rebates further encourage the use of energy-saving technologies, boosting market growth.
Industries such as petrochemicals, power generation, oil and gas, and chemical manufacturing rely heavily on thermal insulation coatings to maintain temperature stability and improve operational efficiency. By minimizing heat loss on equipment like pipes, tanks, and boilers, these coatings enhance thermal efficiency, reduce production costs, and optimize performance. Their widespread application in industrial settings represents a key driver of thermal insulation coating market expansion.
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The growing emphasis on energy efficiency has also led to an increase in renovation and retrofit projects. In developed regions, older buildings lacking adequate insulation are being updated to align with modern energy codes. Thermal insulation coatings offer an effective and economical solution for improving energy performance in these structures, making retrofitting a significant trend within the market.
The thermal insulation coating market is segmented by product type into acrylic, epoxy, polyurethane, yttria-stabilized zirconia (YSZ), mullite, and others. The acrylic coatings segmnet was worth over USD 4.2 billion in 2023 and is expected to grow at a CAGR of 5.7% through 2032. These coatings are favored for their durability, affordability, and weather resistance, making them popular for residential and commercial use, particularly on exterior surfaces.
By coating method, the spray coating segmnet dominated with a 51% market share in 2023 and is projected to grow at a CAGR of 5.8% up to 2032. This method, known for its efficiency and ability to cover large or complex surfaces evenly, is widely adopted in industrial and commercial applications.
The U.S. thermal insulation coating market accounted for 82% share in 2023. The region is experiencing robust growth driven by urbanization, population increases, and a strong focus on energy-efficient construction. These trends are creating significant demand for thermal insulation coatings across both residential and infrastructure development projects.
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Partial chapters of report table of contents (TOC):
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Material Type, 2021-2032 (USD Billion)
5.1 Key trends
5.2 Natural fibers
5.3 Wood-based products
5.4 Agro-waste-based products
5.5 Bio-polymers
5.6 Bio-insulation materials
5.7 Bio-concrete
5.8 Others (bio-adhesives and binders, Etc)
Chapter 6 Thermal Insulation Coating Market Estimates & Forecast, By Construction Type, 2021-2032 (USD Billion)
6.1 Key trends
6.2 New construction
6.3 Renovation and retrofit
Chapter 7 Market Estimates & Forecast, By Application, 2021-2032 (USD Billion)
7.1 Key trends
7.2 Structural components
7.3 Insulation
7.4 Flooring
7.5 Wall panels and cladding
7.6 Roofing
7.7 Others (decorative materials, Etc)
Browse more insulation materials industry reports @ https://www.gminsights.com/industry-reports/construction-materials/79
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About Global Market Insights Inc.
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.
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