The global High Temperature Coatings Market is
expected to reach USD 4.74 billion by 2024, according to a new report
by Grand View Research, Inc. Surging thermally efficient coatings
requirement that can protect industrial and commercial equipment in
moderate to extreme temperature conditions is expected to drive industry
growth over the next eight years.
Technological
innovations and significant R&D spending by key industry
participants regarding commercializing single-component coatings for
multiple applications is anticipated to stimulate market growth over the
forecast period. Companies have been constantly involved in developing
finished products which can be used for wide range of operating
temperatures ranging from 150 degrees Celsius to 750 degrees Celsius in
addition to providing corrosion resistance.
High
temperature coating demand in cookware is anticipated to emerge as
fastest growing end-use segment over the forecast period. In terms of
demand, the sector is expected to grow at a CAGR of 5.5% over the
forecast period.
Major
appliances such as bakeware, induction appliances, and food processors
have gained significance in commercial and residential sectors. This
segment has witnessed significant growth in France, Japan, and South
Korea owing to growing awareness towards innovative cooking technologies
that sustain the nutrient levels of the food.
To See All the Further Report Details: http://www.grandviewresearch.com/industry-analysis/high-temperature-coatings-market
Further key findings from the study suggest:
- The global high temperature coatings market demand was 1,009.9kilo tons in 2015 and is expected to reach 1,444.1 kilo tons by 2024, growing at a CAGR of 4.1% from 2016 to 2024
- Acrylic was the leading product segment and accounted for 23.3% of global high temperature coatings revenue in 2015.The segment is anticipated to reach a net worth of USD 1,117.1 million by 2024.
- Powder coating is anticipated to witness the highest growth over the forecast period. The segment is anticipated to grow at a CAGR of 5.4% in terms of demand from 2015 to 2024.
- The energy & power sector emerged as the leading high temperature coating end-use segment and accounted for 16.4% of total demand in 2015. The segment is expected to reach a net volume of 34.7 by 2024 in the U.S.
- Asia Pacific was the major high temperature coating market and was valued at USD 1,174.8 million in 2015. The region is also expected to witness the fastest growth rate over the forecast period.
- Key players operating in the global industry include BASF, PPG Industries, Sherwin-Williams, Axalta Coating Systems, Jotun AS, and AkzoNobel NV. Major strategy adopted by the global players includes sourcing of raw materials at low cost thereby enhancing their profit margin and gain competitive edge over other industry participants.
Read Our Blog: http://www.grandviewresearch.com/blogs/bulk-chemicals
Grand View Research has segmented the high temperature coatings market on the basis of product, technology, end-use, and region:
Global High Temperature Coatings Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
- Epoxy
- Silicone
- Polyethersulfone
- Polyester
- Acrylic
- Alkyd
- Others
Global High Temperature Coatings Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
- Solvent borne
- Waterborne
- Powder
Global High Temperature Coatings End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
- Energy & Power
- Metal processing
- Cookware appliances
- Stoves & grills
- Marine
- Automotive
- Coil coating
- Aerospace
- Building & Construction
- Others
Global High Temperature Coatings End-Use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2024)
- North America
- US.
- Canada
- Mexico
- Europe
- France
- Germany
- UK
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central & South America
- Brazil
- Middle East & Africa
Access Press Release of this Report: http://www.grandviewresearch.com/press-release/global-high-temperature-coatings-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
No comments:
Post a Comment