Thermal Insulation Coating Market Overview
Thermal Insulation Coating Market accounted for US$ 10.3 billion in 2024 and is estimated to be US$ 42.8 billion by 2034 and is anticipated to register a CAGR of 16.90%.
Thermal insulation is the reduction of transfer of heat. Insulation is the barrier created between hot and cold object in reducing transfer of heat by decreasing thermal conduction. Examples of thermal insulators are rock wool, polyurethane, fiberglass, perlite, wool, goose feather, etc. As thermal insulators are poor conductor of heat they are therefore good thermal insulators. Thermal barrier coating consists of high temperature of structural material base which is ceramic top coat and metallic bond coat. Ceramic top coat acts as an insulator. Ceramic top coat resists the transfer of heat and helps in providing protection against high temperature. Thermal barrier coating are used on aircraft engines, turbines for protection of materials against excessive heat. Yttria Stabilized Zirconia are used in thermal barrier coating. Polystyrene has high thermal resistance. Extruded polystyrene and expanded polystyrene are two types of polystyrene which contains millions of air pockets which are trapped within foam. Lightweight polystyrene foam helps in providing excellent thermal insulation in freezers, refrigerators, industrial cold storage facilities, building walls and roofs. Polystyrene insulation is resistant to water damage. Epoxy is an important thermosetting polymer and widely used as coating, adhesives, engineering materials because of its low cost, high strength, and excellent chemical properties. Mullite is used in electrical insulators and heater exchange parts. Perlite insulation is used in chimneys, under concrete slabs, in rocket stoves and pizza oven. Variety of applications and heat resistance properties has propelled the growth of Thermal Insulation Coating market.
Thermal Insulation Coating Market Dynamics
Rise in industrialization and rate of urbanization
Rise in industrialization and rate of urbanization is one of the leading factors for the Global Thermal Insulation Coating Market growth. Urbanization has given rise in industries. To fulfill the needs of an individual industries are growing rapidly. Urbanization has provided employment in every sectors due to rising industrialization. Industries like automotive, aerospace, construction, manufacturing, transportation, etc. is growing rapidly in urban areas. Use of thermal insulation coating provides heat resistance and a form of protective finish to the product. Thermal insulation coating provides low heat conductivity, corrosion resistance, high co-efficient and improved energy efficiency. Thermal Insulation used in preventing heat gain, heat loss, reducing energy consumption through building envelope. Thermal Insulation coating help in reducing external noise emissions from vehicles, reducing negative effect of heat and increasing driver comfort. However, due to excellent properties of heat resistance and corrosion resistance Thermal Insulation Coating are widely used in construction, aerospace, automotive, chemical, manufacturing industries, etc. For instance, in 2024, industrialization in Tamil Nadu along with Kerala has relatively developed the path of industrialization with higher levels of development and lower levels of poverty compared to other states with development of dynamic manufacturing industries which includes, pharmaceuticals, automobiles, auto components, chemicals, plastics, garments, engineering, leather products, textile products, etc.
According to data published by United Nations in 2018, about 55% of the world’s population resided in urban areas, and it is projected that this percentage will increase over the forecast period. However, the growth in industrialization and population in urban areas boosts the demand for Thermal Insulation Coating Market.
Recent advancement and wide applications
Recent advancement in Thermal Insulation Coating has become the major factor in target market growth. Advancement in Thermal Insulation Coating has been increasing rapidly. Wide applications in various industries like transportation, chemical, manufacturing, automobile, aerospace, construction has enhanced the target market growth. However, recent advancement and wide variety of applications has fueled the growth of Thermal Insulation Coating market. For instance, in 2024, (PMC), new Thermo-Reflective Coatings offered applications as a layer of insulating materials with anti-corrosive, self-extinguishing coating properties potential for insulation applications in temperature up to 200 degree C. This newly coatings has mechanical properties in appropriate manner and also resistance to atmospheric conditions. Use of newly Thermo-Reflective Coatings as a part of sandwich panels helps in increasing fire safety. For instance, in 2021, recent advancement in thermal barrier coatings has offered applications in extreme harsh high temperature environments like nuclear industries, power plants, turbine blades, combustors etc. The newly coating has allowed higher working temperature, reduce in cost of cooling systems, and refining overall component efficiency and thus in demand by reactors, turbine engines, defense and nuclear industries.
Restrains:
However, membrane aging due to direct insulation under roof membrane in which solar heat do not pass through roofing system and led to increase in temperature of roof surface which cause oxidation and evaporation of volatile oils in bitumen based membrane and led to cracked, brittle and alligatoring surface. However, membrane aging, thermally induced expansion and contraction due to increased surface temperature, moisture within roofing system due to increase water vapor entering warm side and condensing within roof system causes leakage in building ceilings, membrane separation by freezing, which may somewhat restrain the Thermal Insulation Coating market growth.
Thermal Insulation Coating Market Segmentation
Thermal Insulation Coating Market is segmented based on type, application, and region.
Type Insight
On the basis of Type Thermal Insulation Coating Market is segmented into Epoxy, Mullite, Polyurethane, Polystyrene, Yttria Stabilized Zirconia, Perlite, Acrylic, and others.
Application Insights
On the basis of Application Global Thermal Insulation Coating Market is segmented into Manufacturing, Transportation, Aerospace, Automotive, Construction, Chemical, and others. Automobile industries has dominated the target market due to rise in travelling, urbanization, disposable income which has allowed the individual to purchase own vehicle for their need of transportation.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Global Thermal Insulation Coating Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as Europe and Asia Pacific, and technological advancements. Moreover, rising urbanization, high disposable income, rising demand for aircrafts, automotive, construction industries, is anticipated to increase demand for Thermal Insulation Coating in the region.
Report Scope:
|
Attribute |
Details |
|
Base year for estimation |
2023 |
|
Forecast period |
2024 – 2034 |
|
Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
|
Market Segmentation |
By Type - Epoxy, Mullite, Polyurethane, Polystyrene, Yttria Stabilized Zirconia, Perlite, Acrylic, and others By Application - Manufacturing, Transportation, Aerospace, Automotive, Construction, Chemical, and others |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Thermal Insulation Coating Market report based on type, application, and region:
Global Thermal Insulation Coating Market, By Type:
- Epoxy
- Mullite
- Polyurethane
- Polystyrene
- Yttria Stabilized Zirconia
- Perlite
- Acrylic
- Others
Global Thermal Insulation Coating Market, By Application:
- Manufacturing
- Transportation
- Aerospace
- Automotive
- Construction
- Chemical
- Others
Global Thermal Insulation Coating Market, By Region:
-
-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- North America
-
Thermal Insulation Coating Market Key Players
The key players operating the Thermal Insulation Coating Market includes,
Hempel
It is the developer and manufacturer of coating solutions for decorative, protective, marine, industrial and others.
Sherwin-Williams Company
It is the manufacturer, distributor and seller of coatings, paints, industrial, commercial products and floor coverings.
PPG Industries
It offers specialty coatings, industrial coatings, automotive coatings, protective and marine coatings, etc.
Carboline Company
It is the global supplier of linings, fireproofing, coatings with manufacturing facilities and offices worldwide.
Nippon Paint Holdings
It is the chemical company. It is the producer, seller of coatings, paints and allied chemicals.
AkzoNobel
It is the chemical manufacturing company which offers paints and coatings.
Evonik Industries AG
It is the manufacturer of specialty chemicals for use in performance materials, nutrition, resource efficiency and others.
Kansai Paint Co. Ltd.
It is the manufacturer and seller of paints and coating equipment used in automotive refinish coatings and others.
Mascoat
It is the developer and manufacturer of insulator, thermal barrier, sound damping coatings, etc.
Jotun
It is the multinational chemical company dealing in performance coatings like protective, marine and powder coatings. It also offers decorative paints.
Dow Chemical Company
It is the American chemical and plastics manufacturer in supplier synthetic fibers, plastics, chemicals, agricultural services etc.
Sika AG
It is the specialty chemical company that offers products for sealing, bonding, damping in motor vehicle industries and building sectors.
Thermal Insulation Coating Market Key Issues Addressed
Recent Development:
- In June 2022, Hempel has launched new fast drying ‘Hempaprime CUI 275’ coating to combat corrosion under insulation. Newly launched coating helps in improving protection from corrosion and increase productivity at oil & gas facilities and energy generation. It also offers excellent crack resistance, and wide application in temperature range.
- In February 2022, AkzoNobel has launched new ‘Interpon W ‘range for heat sensitive wood substrates. Newly launched product is the range of powder coatings which includes Interpon W Core, Fast and Fast Pro, Flex Pro etc. The newly launched product helps in protecting kitchen, bathroom, furniture, building construction materials, etc. It also offers gloss retention and higher weatherability for more challenging applications.
Thermal Insulation Coating Market Company Profile
- Hempel *
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sherwin-Williams Company
- PPG Industries
- Carboline Company
- Nippon Paint Holdings
- AkzoNobel*
- Evonik Industries AG
- Kansai Paint Co. Ltd.
- Mascoat
- Jotun
- Dow Chemical Company
- Sika AG
“*” marked represents similar segmentation in other categories in the respective section
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Thermal Insulation Coating Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Thermal Insulation Coating Market, By Type
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Epoxy
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Mullite
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Polyurethane
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Polystyrene
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Yttria Stabilized Zirconia
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Perlite
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Acrylic
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Global Thermal Insulation Coating Market, By Application, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Manufacturing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Transportation
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Aerospace
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Automotive
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Construction
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Chemical
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Global Thermal Insulation Coating Market, By Region, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Application, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Hempel
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sherwin-Williams Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- PPG Industries
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Carboline Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Nippon Paint Holdings
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- AkzoNobel
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Evonik Industries AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Kansai Paint Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Mascoat
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Jotun
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Dow Chemical Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sika AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Thermal Insulation Coating Market is segmented into type, application, and region.
Thermal Insulation Coating Market is driven by factors like rise in industrialization, rate of urbanization, recent advancement and wide applications.
By region, the Thermal Insulation Coating market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as Europe and Asia Pacific, and technological advancements.
The key players operating the Thermal Insulation Coating Market includes, Hempel, Sherwin-Williams Company, PPG Industries, Carboline Company, Nippon Paint Holdings, AkzoNobel, Evonik Industries AG, Kansai Paint Co. Ltd., Mascoat, Jotun, Dow Chemical Company, Sika AG and others.