[FURL=https://www.industryarc.com/Report/15546/high-temperature-coatings-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease[/FURL] size is forecast to reach $5.2 billion by 2026, after growing at a CAGR of 4.5% during 2021-2026. Surging demand for high temperature resistance coatings across various end-use industries like aerospace, petrochemical, power, manufacturing and military. Moreover, growing focus by end-user to minimize downtime by utilizing quality products further drive the market growth. Whereas implementation of governments stringent regulations will enhance the overall market demand for high temperature coatings market. The rapid spread of coronavirus has had a major impact on global markets, as major economies of the world were completely shut down due to this pandemic. One of the major difficulties, market is facing are the shutdown of all kinds of transportation. India’s largest paint and coatings producer, Asian Paints reported net profit falling by 2.1 percent year-on-year to INR 4,619 million ($61.58 million) in the quarter ended March 2020.
Key Takeaways
In 2020, Asia-Pacific dominates the high temperature coatings market owing to increasing demand from various end use such as automotive, aviation and others.
The growing aviation and renewable energy sector in APAC region, is likely to aid in the market growth of High Temperature Coatings.
Implementation of government’s stringent regulations or schemes such as Electric Vehicle policy will further drive the market for high temperature coatings.
High ductility of high temperature coatings compared with other coatings is also one of the factors increasing the market growth for high temperature coatings.
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High Temperature Coatings Market Drivers
Development of advanced high temperature resistance coatings are strengthening the market growth
The surface temperature of the material increases due to the accumulated heat as it absorbs solar energy, and the high temperature caused by solar radiation causes many inconveniences and even problems in industrial development and daily life. Researchers and manufacturers are looking at effective and advanced temperature resistance coating material to reduce the energy consumption.
High Temperature Coatings Market are AkzoNobel N.V., The Sherwin-Williams Company, PPG Industries Inc., The Valspar Corporation, Whitford, Weilburger Coatings GmbH, Axalta Coating Systems, Jotun A/S, Aremco, Carboline, Hempel, Belzona International Ltd., and Chemco International Ltd.,.
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