Insulation is the process of insulating something from the environmental effects and retains its normal state of being. Insulation coatings control the utilization of energy efficiently and help to reduce carbon footprint. It is made up of non-conducting materials thus preventing the target item from its surroundings. It is used to protect the product from electricity, heat, sound, and other factors. They possess certain properties such as energy saving, high thermal coefficient, and low thermal conductivity. It is applied to various equipment and machine parts to prevent them from environmental effects.
According to AMA, the market for Insulation Coating Materials is expected to register a CAGR of 7.7% during the forecast period to 2026. This growth is primarily driven by Energy Savings, Prevention of Corrosion under Insulation (CUI) and Stringent Regulatory Policies.
The Chemicals sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as AkzoNobel (Netherlands), PPG Industries (United States), The Sherwin-Williams Company (United States), Kansai Paint CO., LTD. (Japan), Jotun Group (Norway), Nippon Paint (Japan), Mascoat (United States), Carboline (United States), Sharpshell Industrial Solutions (South Africa) and Axalta Coating Systems (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2018, AkzoNobel opened a new coatings facility in Kenya with warehousing for the company's protective, marine, and powder coatings. This expansion will act as the entryway for the company to entire East Africa.
Recently, Axalta Coating Systems, a leading global supplier of liquid and powder coatings, has launched a new electrical steel coating Voltatex1230. Its introduction to the market will extend Axalta’s comprehensive portfolio of innovative and ecologically-responsible insulating liquid coatings that protect motors or generators, small transformers, and transmitters.
- Energy Savings
- Prevention of Corrosion under Insulation (CUI)
- Stringent Regulatory Policies
- Low Thermal Efficiency
- Relatively Higher Price of Coating Formulations
OpportunitiesDevelopments in Emerging Markets
ChallengesCompetition with Traditional Insulation Materials and Changing Product Specifications in High Heat Applications
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the ReportAMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Insulation Coating Materials Study Sheds Light on The Insulation Coating Materials Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Insulation Coating Materials industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Insulation Coating Materials industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.