Global High-Temperature Coating Market By Product Type (Acrylic, Epoxy, Polyether sulfone, and Other Product Type), By Technology (Waterborne, Powder, and Other Technologies) By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

High-Temperature Coating Market Overview:

In 2021, the global High-Temperature Coating Market was worth USD 4,928 million. It is expected to register a CAGR growth of 4.7% in the coming years.

Due to increasing product demand in various end-use industries like metal processing and bakeware, as well as building and construction, the industry is expected to experience moderate growth over the coming years.

These products offer protection against corrosion from prolonged equipment use in high temperatures and fire. Because it provides protection for steel structures and other building components, fireproofing is an important part of the construction industry.

Global High-Temperature Coating Market Scope:

Product Type Analysis

Acrylic was the most popular product segment, accounting for more than 24.6% of total volume in 2021. Acrylic-based products are being used in many industries due to their high penetration. Another factor that has contributed to the increased acceptance of the products in various industries is the low volatile organic compound (VOC), content in the product formulation.

Polyether sulfone is predicted to be the fastest-growing segment in terms of volume over the next few decades. It is expected to be worth more than USD 470.0 million in 2024. The product’s physical properties, such as its enhanced metal adhesion and transparency, as well as long-term thermal stability, have led to a rise in product demand. These characteristics have led to increased product usage in many areas, including construction, marine, and automotive refinishes.

Epoxy was the second-largest segment in 2021 due to its durability and chemically resistive characteristics. This segment is forecast to grow at a CAGR exceeding 5.4% in terms both of revenue and volume over the forecast period. The majority of epoxy-based products are used in corrosion-resistant applications such as automobiles, boats, and steel pipes. These items are often exposed to high temperatures. Because epoxy-based coatings are compatible with many color formulations and solvent-free ingredients, demand is growing for these products.

Technology Analysis

In 2021, waterborne technology accounted for more than 74.8% of the total volume. The shift towards non-solvent-based technology has led to an increase in the use of waterborne and powder-based products across various industries. Over the next few decades, waterborne technology will be in high demand due to its low VOC and minimal environmental impact.

Powder coatings will be the fastest-growing formulation technology in terms both of volume and revenue by 2024. This segment is expected to see 95.6 kilotons of demand by 2024. Coating manufacturers have been forced to switch to powder-based products due to stringent environmental regulations pertaining to solvent-based products. This technology has major benefits, including higher utilization rates and easier application. These are expected to drive segment demand in the forecast period.

Маrkеt Ѕеgmеntѕ:

By Product Type

• Acrylic
• Epoxy
• Polyether sulfone
• Other Product Type

By Technology

• Waterborne
• Powder
• Other Technologies

Market Dynamics:

However, market penetration in this sector will be limited by a lack of coordination between building codes from different countries. Coating manufacturers can increase their investment in R&D projects by ensuring that there are no differences in the regulatory rules. The Underwriters Laboratories, (UL), is a major regulatory agency. They have issued guidelines and standards to conduct application testing on coatings.

Other regulatory and government agencies, such as ASTM and ANSI, ISO, and NFPA, regulate the formulation and testing of coating ingredients. Numerous revisions have been made to safety standards to include flame retardant inorganic substances in coating materials after incidents like building collapses and workplace injuries from the fire. Due to their superior resistance to high temperatures, silicon, phosphorus, and halogen-based products are now of great importance.

Regional Analysis

The Asia Pacific accounted for more than 38.5% of the global market’s total volume in 2021. Product demand is expected to rise due to significant growth in the construction and automotive industries, especially in China, India, and Japan.

In 2021, Europe was responsible for more than 32.3% of global revenue. The region’s market penetration will be limited by the slow growth in many end-use industries such as construction and oil and gas in the EU-27. The region will likely lose its share of the global market over the next few decades.

North America’s market is expected to grow at a moderate CAGR (or 4.1%) in terms of revenue during the forecast period. The region’s industrial growth has been aided by widespread product adoption in key end-use industries such as electronics, automotive, energy, and construction. The region’s product demand will be influenced by the renewal of reforms that incorporate environmentally-friendly and thermally efficient materials.

Кеу Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Due to the presence of large multinational corporations like PPG Industries and Sherwin-Williams as well as Jotun AS and Akzo Nobel NV, the global market is somewhat fragmented. These industry players have adopted key strategies such as long-term partnerships with raw material suppliers in order to gain economies of scale and then offer products at lower prices than their competitors.

The global industry also includes Valspar Corporation, Carboline Company, General Magnaplate Corporation, Hempel AS, and Chemco International.

Маrkеt Кеу Рlауеrѕ:

• Valspar Corporation
• Carboline Company
• General Magnaplate Corporation
• Hempel AS
• Chemco International
• Whitford Corporation
• Weilburger Coatings GmbH
• Belzona International Ltd.
• Aremco Products Inc.
• Other Key Players

For the High-Temperature Coating Market research study, the following years have been considered to estimate the market size: