February 2, 2023

As the chemical industry moves into 2022, strong demand for both commodity and specialty chemicals should keep prices robust throughout the year. However, the  industry could face margin pressures amid raw material cost inflation, which will likely remain high through the first half of 2022.

The global heat resistant coatings market size is expected to inflate on account of its extensive use to resist heat transfer in industrial machineries, shares Fortune Business Insights™, in its report, titled, “Heat Resistant Coatings Market, 2022-2029.”

Heat resistant coatings and paints are developed specifically to protect surfaces that are exposed to fluctuating temperature and extensive heat. High temperature resistant paints are designed in a way that they can bear temperatures of up to 600 °C. Manufacturers are developing products involving innovative solutions to ensure customer satisfaction and to broaden their user base.

For example, in July 2019, Teknos, a crucial manufacturer of heat resistant coatings, developed TEKNOHEAT 500, a silicone-based paint that tolerates high temperatures. It can be utilized as an additional coat in a zinc silicone system, on heated surfaces, both indoor and outdoor such as gas stoves, kitchen oven doors, and heat exhaust pipes. Temporarily damp steel surfaces should be primed with respective anticorrosive zinc dust paints. Teknos also has a range of high heat paint products available for lower temperatures of up to 450 °C and 250 °C. This is anticipated to promote the market growth during the forecast period.

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Market Drivers

Increasing Demand in the Automobile Sector to Boost Market Growth

The utilization of heat resistant coatings is demanded in several sectors such as automotive, consumer goods, and construction activities, among others. Due to the heat resisting property, the material is used to manufacture electric wire coatings which is further used in construction and to manufacture electronics under the consumer goods sector. This is expected to boost the market growth.

On the other hand, the manufacturing of such heat resistant coatings produce harmful VOC and can adversely affect the environment and human health with symptoms such as headache, nausea, eye, throat, and nose irritation, liver damage, damage to kidney, and the central nervous system. Stringent government rules regarding emission control are expected to hinder the market growth. For instance, according to the U.K. government, the regulatory body should ensure constant monitoring as the average emission is more than 10 kg per hour of total organic carbon.

Market Segment

On the basis of resin type, the global heat resistant coatings market is divided into silicone, epoxy, acrylic, polyester, and modified resin.

Based on the application, the market is classified into automotive and transportation, consumer goods, building and construction, and industrial.

In terms of region, the market is further segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Highlights of the Report

The report provides a thorough study of the market segments and detailed analysis of the market overview. A profound evaluation of the current market trends, as well as the future opportunities is presented in the report. It further shares an in-depth analysis of the regional insights and how they shape the market growth. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. It sheds light on the key players and their prominent strategies to stay in the leading position.

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Competitive Landscape

Key Players Focus on Innovative Product Launches & Acquisitions to Intensify Competition

Prominent players are adopting several strategies to bolster their positions in the market as leading companies. One such key strategy is periodically launching innovative products with the detailed study of the market and its target audience. Another essential strategy is acquiring companies to bolster the brand value among end-users.

In February 2020, AkzoNobel N.V acquired the complete heat sensitive material range of Stahl Performance Powder Coatings. The deal gives the company an enhanced opportunity to redeem its brand value and further will open up exciting new market offers. Additionally, this is expected to boost demand for heat resistant coatings during the forecast period.

Industry Development

June 2020: Axalta Coating Systems, a leading global provider of liquid and powder coatings, launched a new collection of industrial powder coatings in Mexico named Alesta BE+. It does not generate VOC emissions, requires less curing time, and uses minimal energy, which leads to increased productivity and simultaneously reduces production costs for customers. Therefore, this is anticipated to stimulate demand for heat resistant coatings in the upcoming years.

Regional Insights

Asia Pacific to Dominate the Market Backed by Rapid Economic Growth

Asia Pacific is expected to dominate in the heat resistant coatings market as it holds the majority of the shares. This is owing to a rise in the economic growth rate along with the cheaper labor cost factor in countries, such as India and China. This is expected to boost the market growth in this region.

North America is anticipated to stand tall as the second-largest holder of shares of heat resistant coatings and is expected to witness substantial growth in the global market. This growth is owing to the rapidly increasing research & development technique in materials and technology.

Europe is expected to witness decent growth on account of top-notch automobile companies present in this region. This is expected to fuel the demand for heat resistant coatings globally.

List of Key Players Covered in the Heat Resistant Coatings Market Report

  • AkzoNobel N.V
  • Hempel A/S
  • Jotun A/S
  • Axalta Coating Systems
  • Sherwin Williams
  • PPG Industries, Inc.
  • Kansai Paints Co., Ltd.
  • KCC Corporation

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