Rockville , June 08, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global high temperature coatings market is estimated to be valued at US$ 4.8 billion in 2023 and is expected to grow at a CAGR of 4.8% during the forecast period of 2023-2033.
High-temperature coatings market has witnessed steady growth and experiencing high demand due to the growing aerospace, defense, and automotive sectors.
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The automotive industry is adopting high-temperature coatings to enhance the performance and durability of engine components, exhaust systems, and other parts subjected to high temperatures. These coatings help improve fuel efficiency, reduce emissions, and extend the lifespan of automotive parts.
The demand for coatings that withstand extreme temperatures and provide protection against corrosion is a key factor in the market's expansion. Ceramic coatings have gained popularity recently in the high-temperature coatings market due to their exceptional thermal insulation properties, corrosion resistance, and ability to withstand extreme temperatures. Advancements in ceramic coating technology have led to the development of more efficient and durable coatings for various applications.
The industry is also emphasizing environmental sustainability and exploring novel coating technologies to meet evolving market demands.
Key Takeaways from Market Study
- The global high temperature coatings market size reported by Fact.MR for 2022 was US$ 4.6 billion
- The global high temperature coatings market size is estimated to reach US$ 7.7 billion in 2033
- The projected CAGR for the global high temperature coatings market from 2023 to 2033 is 4.8%
- Prominent players operating in the high temperature coatings market include Akzo Nobel NV, Aremco Products, Inc., and Belzona International Ltd., among others
- Epoxy high temperature coatings are expected to rule the market during the forecast period
“Pioneering Sustainability and Innovative Coating Technologies to Meet the Evolving Demands in the High-Temperature Coatings Industry” says a Fact.MR analyst.
Key Companies Profiled In This Report
- Akzo Nobel NV
- Aremco Products, Inc.
- Belzona International Ltd.
- Chemco International Ltd.
- The Valspar Corporation
- Weilburger Coatings GmbH
- Whitford Corporation
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Market Growth Stratagems
The high-temperature coatings industry players are focusing on developing eco-friendly and sustainable coating solutions. There is a growing demand for coatings with low or no volatile organic compound (VOC) content to meet environmental regulations and reduce the carbon footprint of coating processes, thus, likely to create space for new players to enter or existing ones to invest in research and development and curb the demand pool by offering innovative solutions. Further, ongoing research and development efforts are focused on developing innovative coating technologies that can withstand higher temperatures, provide better thermal barrier properties, and offer enhanced corrosion resistance. These advancements aim to cater to the increasing demand for high-performance coatings in extreme temperature environments and enable market players to retain customers and gain high-profit margins.
Segmentation of High Temperature Coatings Industry Research Report
- By Resin :
- Epoxy
- Silicone
- Polyester
- Acrylic
- Alkyd
- Others
- By Application :
- Aerospace & Defense
- Automotive
- Coil Coatings
- Petrochemical
- Marine
- Metal Processing
- Stoves & Grills
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Key Questions Covered in the High Temperature Coatings Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global High Temperature Coatings Market sales grow until 2033?
- Which are the factors hampering the High Temperature Coatings Market demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the High Temperature Coatings Market during the forecast period?
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the high temperature coatings market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of resin (epoxy, silicone, polyester, acrylic, alkyd, and others), application (aerospace & defense, automotive, coil coatings, petrochemical, marine, metal processing, stoves & grills, and others), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
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