Heat-Resistant Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Heat-Resistant Coatings Market Analysis
The market for heat-resistant coatings is expected to grow at a CAGR of more than 5% during the forecast period. Major factors driving the market studied increasing construction activities in the Asia-Pacific region, and rising awareness toward fire protection equipment.
- Increasing applications of heat-resistant coatings in defense equipment are expected to grow during the forecast period.
- Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China and India.
Heat-Resistant Coatings Market Trends
This section covers the major market trends shaping the Heat Resistant Coatings Market according to our research experts:
Building and Construction to Dominate the Market
- Heat-resistant coatings are extensively used in the building and construction sector. They are used on various building materials and products to meet important fire safety standards and codes. The usage of heat-resistant coatings helps reduce fire attacks and increase the safety and security of the people. In Asia-Pacific, the construction sector has been witnessing robust growth, fuelled by the growing manufacturing and service sector infrastructure, increasing housing construction, and noticeable government spending on public constructions.
- The Asia-Pacific region has become an attractive market for the investors, owing to the presence of a number of emerging economies, such as India, China, Indonesia, Vietnam, and others in the region. Owing to strong economic growth, domestic companies have been expanding their business. Along with this, foreign companies have been entering these markets to take advantage of the prevailing opportunities. This has created demand for commercial construction, such as offices, production houses, buildings, warehouses, etc., leading to an increase in the construction activities in these countries.
- In India, the demand for offices and residential spaces has been driving the growth of the construction sector. “The Smart City Project” is one of the noticeable examples, under which, 100 smart cities are planned to be developed across the country.
- In the Southeast Asian region, Indonesia has emerged as the largest market, and it is also one of the fastest-growing markets. The Indonesian government started a program to build around one million housing units across Indonesia, for which, the government has already set aside around USD 1 billion from the state budget.
- Hence, such robust growth in construction activities in the region is fuelling the demand for the heat-resistant coatings market.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific is expanding at a higher rate for heat resistant coatings market. Some of the main reasons for the expansion are growing and emerging economies, transportation industry, increasing FDI, low-cost labor, etc.
- Additionally, the wave of digitization has boosted the growth of the service sector. In Asia-Pacific, the service sector has also been expanding at a rapid pace, which is further adding to the demand for offices and residential houses. However, the shortage of such infrastructure in these countries is further leading to an increase in construction activities in these countries.
- With the ongoing rapid industrialization in the region, mainly in China, Japan India, the usage of heat resistant coatings inflammable fluid pipelines is growing significantly due to new innovations and technological advancements in the region.
- For instance, In Japan, housing construction, along with increasing governmental spending on developmental projects, has been driving the construction sector in the country. The 2020 Olympics has also been boosting the new commercial construction in the country.
- These are to support the growth of heat resistant coatings in the region.
Heat-Resistant Coatings Industry Overview
The heat resistant coatings market is a semi consolidated market. The major companies include AkzoNobel N.V., Axalta Coating Systems, LLC, Jotun, PPG Industries Inc., Sherwin Williams Company, amongst others.
Heat-Resistant Coatings Market Leaders
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AkzoNobel N.V.
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Jotun
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Akzo Nobel N.V.
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PPG Industries, Inc.
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The Sherwin-Williams Company
*Disclaimer: Major Players sorted in no particular order
Heat-Resistant Coatings Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Construction Activities in the Asia-Pacific Region
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4.1.2 Rising Awareness Toward Fire Protection Equipment
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4.2 Restraints
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4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Resin
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5.1.1 Silicone
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5.1.2 Epoxy
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5.1.3 Acrylic
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5.1.4 Other Resins
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5.2 End-user Industry
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5.2.1 Building and Construction
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5.2.2 Oil and Gas
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5.2.3 Transportation
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5.2.4 Woodworking and Furniture
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5.2.5 Consumer Goods
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5.2.6 Power Sector
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5.2.7 Other End-user Industries
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.2.4 Rest of North America
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 Italy
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5.3.3.4 France
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East & Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 AkzoNobel N.V.
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6.4.2 Axalta Coating Systems, LLC
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6.4.3 Jotun
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6.4.4 Kansai Paints Co. Ltd
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6.4.5 KCC Corporation
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6.4.6 PPG Industries Inc.
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6.4.7 The Sherwin Williams Company
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6.4.8 Teknos Group
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6.4.9 Tikkurila OYJ
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6.4.10 Wacker Chemie AG
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Increasing Applications of Heat-resistant Coatings in Defence Equipment
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7.2 Other Opportunities
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Heat-Resistant Coatings Industry Segmentation
The heat-resistant coatings market report includes:
| Resin | |
| Silicone | |
| Epoxy | |
| Acrylic | |
| Other Resins |
| End-user Industry | |
| Building and Construction | |
| Oil and Gas | |
| Transportation | |
| Woodworking and Furniture | |
| Consumer Goods | |
| Power Sector | |
| Other End-user Industries |
| Geography | |||||||
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Heat-Resistant Coatings Market Research FAQs
What is the current Heat-Resistant Coatings Market size?
The Heat-Resistant Coatings Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Heat-Resistant Coatings Market?
AkzoNobel N.V., Jotun, Akzo Nobel N.V., PPG Industries, Inc. and The Sherwin-Williams Company are the major companies operating in the Heat-Resistant Coatings Market.
Which is the fastest growing region in Heat-Resistant Coatings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Heat-Resistant Coatings Market?
In 2024, the Asia Pacific accounts for the largest market share in Heat-Resistant Coatings Market.
What years does this Heat-Resistant Coatings Market cover?
The report covers the Heat-Resistant Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Heat-Resistant Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Heat-Resistant Coatings Industry Report
Statistics for the 2024 Heat-Resistant Coatings market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Heat-Resistant Coatings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
