PUNE, India, October 8, 2015 /PRNewswire/ --
The report "High Temperature Coatings Market by Resin Type (Epoxy, Silicone, Poyester, Acrylic, Alkyd & Others), by Technology (Water, Solvent, & Powder), by Application (Petrochemical, Metal, Stoves, Marine, Automotive, Coil, Aerospace) & by Region - Global Forecast to 2020" published by MarketsandMarkets, The market size, in terms of value, of High Temperature Coatings was estimated to be about USD 3.39 Billion in 2015 and is projected to reach USD 4.24 Billion by 2020, at a CAGR of 4.56% between 2015 and 2020.
Browse 88 market data Tables and 52 Figures spread through 169 Pages and in-depth TOC on "High Temperature Coatings Market"
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The market report analyzes the global High Temperature Coatings Market with respect to market drivers, restraints, opportunities, and challenges in different regions.
High temperature coatings are designed to withstand temperatures above 150°C (302°F) while providing protection against corrosion. Composed of either organic or inorganic materials, high temperature coating resins could either be an epoxy, epoxy phenolic, epoxy novolac, silicone, or a more specialized multi-polymeric matrix depending on the level of temperature resistance required.
The drivers identified for the High Temperature Coatings Market are growing power & chemical plants and oil & industry, cookware, bakeware, & small appliances, woodstoves, gas stoves & barbecue grills, marine, automotive, and aerospace industries. Countries such as China, U.S., and India, are the major markets of high temperature coatings. The market in countries of the Middle East and Africa are also growing. In developed countries such as the U.S., Spain, Germany, Japan, and Italy, the market is growing at a low-to-moderate rate.
Asia-Pacific is the largest market for high temperature coatings, both in terms of volume and value, followed by North America and Western Europe. The key players in this market are AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (U.S.), PPG Industries Inc. (U.S.), The Valspar Corporation (U.S.), Whitford (U.S.), Weilburger Coatings GmbH (Germany), Axalta Coating Systems (U.S.), Jotun A/S (Norway), Aremco (U.S.), Carboline (U.S.), Hempel (Denmark), Belzona International Ltd. (U.K.), and Chemco International Ltd. (U.K.) among others.
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The High Temperature Coatings Market, in terms of value and volume, is estimated by considering the current and future projections according to the economic and industrial outlook. This analysis also covers important developments, expansions, partnerships & agreements, and mergers & acquisitions of the leading global companies.
The drivers for the growth of the High Temperature Coatings Market include the end-use industries, shift in preference toward solvent-free high temperature coatings, and the increased demand for high temperature coatings from the Asia-Pacific region. The restraints for the market include volatility in raw material prices and legislations curbing the use of hazardous chemicals. The opportunities for the high temperature coatings industry are leveraging technology requirements and regulations in higher value sectors and targeting current as well as potential markets where high temperature coatings can be used.
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