Heat Resistant Coatings Market Size, Share, Industry, Forecast and outlook (2024-2031)

The Heat Resistant Coatings market is Segmented By Resin Type (Silicone, Epoxy, Acrylic, Polyester, Modified Resins, Multi-polymeric matrix, Others), By Temperature (50-100 °C,100-200 °C, 400 °C, 600-650 °C, Others ), By Technology (Powder, Liquid), By Application (Exhaust, intake, and gasket manifolds, Turbine parts, Hydraulic components, Surgical devices, Others), By End-User (Energy, Aerospace, Chemical Processing, Automotive, Water Industries, Construction, Surgical devices, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Heat Resistant Coatings Market Overview

The global "heat resistant coatings market" is estimated to reach at a high CAGR during the forecast period (2023-2030).

Heat-resistant coatings are developed to protect the surfaces that are exposed to rapid temperature changes and high heat. High-temperature-resistant coatings are used in several sectors and markets to prevent steel from corroding in high-temperature environments. In the aerospace,  military, petrochemical, manufacturing, and power industries, high-temperature coatings are commonly used for pipes, fireproofing, jet engines, offshore rigs, original equipment, and various types of plants/facilities that utilize high-temperature processes. Processing units, such as power plants, petrochemical plants, and refineries, are among the main users of industrial high-temperature coatings. For instance, silicone resin coatings can tolerate temperatures above 600°C without being damaged or losing adherence. These are abrasion, chemical, and light-resistant. They are pigment able and compatible with a variety of different systems.

Heat Resistant Coatings Market Summary

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Source: DataM Intelligence Analysis (2021)

Heat Resistant Coatings Market Dynamics

The increasing use of the heat-resistant coating in industrial and commercial applications drives the product's market share. Growing investments in infrastructure development, new housing projects, and increasing demand for the automotive and transportation industry are boosting the market growth for heat-resistant coatings.

The increasing use of the heat-resistant coating in industrial and commercial applications drives the product's market share

High-temperature-resistant coatings are used in various sectors and markets to prevent steel from corroding in high-temperature environments. There are numerous testing protocols used to evaluate the performance of those coatings; nevertheless, performance comparisons are difficult because the test methodologies are not uniform or consistent. In the aerospace,  military, petrochemical, manufacturing, and power industries, high-temperature coatings are commonly used for pipes, fireproofing, jet engines, offshore rigs, original equipment, and numerous plants/facilities that use high-temperature processes. Furthermore, processing facilities such as power plants, petrochemical plants, and refineries are among the major customers of industrial high-temperature coatings. These facilities frequently include a complex network of pipes, vessels, and tanks that must be corrosion-resistant. Corrosion under insulation (or CUI) is frequently a priority because extreme temperature steel is usually insulated. Active corrosion is not visible to the naked eye unless the insulation is removed first. Thus, tremendously improving the application of heat resistant coating in various applications has accelerated the product's demand in recent times.

Growing investments in infrastructure development, new housing projects, and the increasing demand of the automotive and transportation industry are boosting the market growth for heat-resistant coating.

In the building and construction industry, heat-resistant coatings are widely employed. They are utilized to meet critical fire safety requirements and codes on various building materials and products. The use of heat-resistant coatings helps to reduce accidents and improve people's safety and security. The construction industry has been booming, owing to expanding manufacturing and service sector infrastructure, rising home building, and increased government spending on public works. Furthermore, the Asia-Pacific region has become an attractive market for investors due to the sheer existence of several rising economies in the region, such as India, China, Indonesia, Vietnam, and others. Domestic companies have been extending their operations as a result of robust economic growth. Foreign corporations have also begun to enter these areas to take advantage of the current prospects. This has resulted in a surge in construction activity in these countries for commercial construction such as offices, production houses, buildings, warehouses, and so on.

In addition, the growing automotive and transportation sector in various developing countries has accelerated the application of heat-resistant coatings. Heat resistant coating is designed to deflect damaging heat from being absorbed by the part. Furthermore, to ensure customers demand quality and longevity from their vehicles, car manufacturers turn to functional automotive coatings that enhance the performance and lifespan of critical car components.

The high cost of heat-resistant coatings is hurdling the market's growth.

The high cost of labor coupled with the high maintenance cost is the main impediment to the global market for heat-resistant coatings. Furthermore, one of the major challenges impeding the growth of the worldwide heat-resistant coating market is the high cost of transportation for heat-resistant coatings. However, ongoing technological advancements by various key players on building cost-effective heat resistant coating are expected to boost the market share for the product in the forecast period.

COVID-19 Impact Analysis

COVID-19 has had a major economic influence on several financial and industrial sectors, including travel and tourism, manufacturing, and aviation. Economic activity is diminishing due to increasing countries implementing and prolonging lockdowns, which influences the global economy. The pandemic has brought the residential, commercial, and industrial construction sectors to a halt. During the current crisis, heat-resistant coatings demand is expected to be low to medium. Delays in order delivery, supply chain limitations, workforce and equipment shortages, and material shortages are serious concerns. Following this crisis, the market is predicted to recover, and demand for heat-resistant coatings is expected to rise. Furthermore, most countries began to ease restrictions in the second half of 2020. The construction, oil and gas, aviation, and other sectors have regained the market momentum and, therefore, accelerated the demand for heat-resistant coatings to grow in the forecast period.

Heat Resistant Coatings Market Segment Analysis

The global heat resistant coatings market is bifurcated based on resin type, temperature, technology, application, end-user, and region.

Silicone heat-resistant coatings are versatile and available in a wide range of forms, from liquids to elastomers, making them simple to utilize and adapt to a wide range of applications.

The global heat resistant coatings market is segmented based on resin type, out of the mentioned applications, silicone, epoxy, acrylic, polyester, modified resins, multi-polymeric matrix, others. Out of the mentioned resin types, silicone holds the dominating position in the market compared to other types of segments owing to the increasing demand of the segment in various industries. The polymer structure provides excellent thermal stability and oxidation resistance. Silicones are essentially transparent to ultraviolet from sunlight. Silicone-based coatings protect, preserve, and customize all surfaces' functionality and style. Because of their technical and mechanical properties, they are chosen over other materials. Their versatility and availability in a wide range of forms, from liquids to elastomers, make them simple to utilize and adapt to a wide range of applications. Special heat-resistant paints and coatings are supplemented with silicone resins in this broad range, allowing them to be utilized in the most extreme situations, up to 600°C (1100°F).

For instance, on October 28, 2019, Evonik came up with a new SILIKOFTAL® HTW 3, a heat-resistant silicone resin that meets a sustainable formulation's requirements. It is free of organic solvents and features a significantly reduced VOC content from production to application.

Source: DataM Intelligence Analysis (2021)

Heat Resistant Coatings Market Geographical Share

The advancement of heat resistant coatings in countries like India, China, South Korea, and Japan has created significant demand in the Asia-Pacific (APAC) region

The market for heat-resistant coatings is growing at a faster rate in Asia-Pacific. Growing and expanding economies, the transportation industry, more FDI, low-cost labor, and other factors contribute to the expansion. The service industry has been rapidly increasing in Asia-Pacific, resulting in increased demand for workplaces and residential properties. The lack of such infrastructure in these countries, on the other hand, is driving up construction activity in these countries. Due to new innovations and technological advancements in the region, the use of heat-resistant coatings inflammable fluid pipelines is rising rapidly due to the region's ongoing rapid industrialization, particularly in China, Japan, and India. In Japan, for instance, home construction has been driving the country's construction sector, combined with increased government investment in development projects. The 2020 Olympics has also boosted the country's new commercial construction.

Source: DataM Intelligence Analysis (2021)

Heat Resistant Coatings Market Companies

The heat-resistant coatings market is highly competitive with the presence of local and global companies. Some prime companies contribute to the market's growth AkzoNobel N.V., Jotun A/S, Hempel A/S, Sherwin Williams Company, Axalta Coating Systems, Kansai Paints Co., Ltd, KCC Corporation, PPG Industries Inc., RPM International Inc., and Tikkurila OYJ and others.    

The major companies are adopting several growth strategies such as acquisitions, product launches, and collaborations, contributing to the growth of the IoT in the Education market globally.  

• For instance, in February 2017, Jotun has launched a unique high-temperature coating, Jotatemp 1000 Ceramic, for increasing demands of the hydrocarbon processing industry.

Hempel A/S

Overview: Hempel A/S suppliers coatings and services in the protective, marine, decorative, container, and yacht industries across the globe. Hempel factories, R&D centers, and stock points are established in every region, and the company was founded in Copenhagen, Denmark, in 1915. The company is offering its products in Brazil, China, Greece, Norway, Poland, Italy, Portugal USA, South America, and other countries

Product Portfolio: The Company has a product portfolio of Heat Resistant Coatings that includes:

• Hempel’s Silicone 56914: Hempel's Silicone 56914 is a heat-resistant aluminum pigmented polysiloxane topcoat that can withstand temperatures up to 600°C and is perfect for long-term protection of hot pipelines, exhaust pipes, smokestacks, and other hot surfaces. The product is recommended to protect hot pipelines, exhaust pipes, smokestacks, and other hot surfaces.

Key Development

• For instance, on 1st June 2021, Hempel has acquired a unique technology developed by Das Lack Enertherm (DLE). Combined with internal expertise, the technology will enable Hempel to develop and launch coating products with insulating properties within the next year.

Why Purchase the Report?

• Visualize the heat resistant coatings market segmentation by resin type, temperature, technology, application, end-user highlighting key commercial assets and players
• Identify commercial opportunities in the heat-resistant coatings market by analyzing trends and co-development deals
• Excel data sheet with thousands of data points of heat resistant coatings market-level 4/5 segmentation
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Product mapping in excel for the key product of all major market players

The global heat resistant coatings market report would provide approximately 77 market data tables, 84 figures, and 290 pages.

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