High Temperature Coatings Market Size Trend & Share | Industry Report, 2023 by Global Coverage - AkzoNobel N.V., The Sherwin-Williams Company, PPG Industries, The Valspar Corporation, Axalta Coating Systems, Jotun, Aremco, Carboline, Hempel, Belzona

Industry Updates

In July 2018, APC, Inc., a manufacturer of High-Performance Coatings entered into an agreement with Strathmore for APC-engineered linings for the rail industry. Under the agreement, Strathmore will introduce three new high temperature coatings with the combined strengths of the two companies and bring custom coating solutions for the rail industry.

Competitive Landscape

The major players of the Global High Temperature Coatings Market include AkzoNobel N.V. (the Netherlands), PPG Industries Inc. (U.S.), Axalta Coating Systems (U.S.), Aremco (U.S.), Hempel (Denmark), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), Jotun (Norway), Carboline (U.S.), and Belzona International Ltd. (U.K.).

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Segmentation

The Global High Temperature Coatings Market has been segmented based on Resin Type, Technology, and End-Use. By Resin Type, the market has been segmented into epoxy, silicone, polyester, acrylic, alkyd, and others. The acrylic resin segment accounts for the majority of the market share on account of growing use in end-use industries. The silicone resin segment finds its application in the food & beverage, construction, automotive and chemical industries as it is age resistant and heat stable. By technology, the market has been segmented into water, solvent, and powder. The water segment is expected to witness high growth over the forecast period due to its ease and convenience of use. Additionally, the powder segment will exhibit high growth which will be facilitated by the implementation of new rules by the government for the use of the product owing to the long-lasting, durable and non-voc nature. By end-use, the market has been segmented into aerospace, automotive, coil, petrochemical, marine, metal, and stoves. The automotive segment is leading due to the increased use of High Temperature Coatings in the production of vehicles.

Regional Analysis

The key markets of the Global High Temperature Coatings Market include Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is the largest market for High Temperature Coatings due to high demand from end-use industries such as aerospace, automotive, coil, petrochemical, and others. Moreover, the growth of the automotive industry in countries such as China, Japan, and India translates into demand for High Temperature Coatings. The North America market for High Temperature Coatings is expanding significantly due to increased demand from the construction and automotive industries. The US, Canada, and Mexico are the key contributors in the region. The Europe market is driven by growing innovation and technological advancements in countries such as the UK, Italy, France, and Germany. The Latin America market is expected to depict considerable growth over the forecast period owing to the burgeoning usage of silicone resins and acrylic in the chemical, construction and energy sectors. The Middle East & Africa market is projected to grow due to high demand for High Temperature Coatings from the oil & gas, petrochemical, energy, and aviation sectors.

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