High temperature coatings are gaining rapid traction since the past decade, owing to their resistance to high-temperature corrosion and oxidation. Other exclusive properties such as flexibility in terms of thickness and composition of coatings, high ductility, and others, are making them highly sought-after in metal processing, coil coatings, automotive, and other industries.
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According to a report titled “Global Steel Report”, published by the International Trade Administration on 1st November 2019, global crude steel production has been growing in a majority of years since 2006. As per the report, in 2014, global production hit a then record high of 1.67 billion metric tons, while it increased to 1.80 billion metric tons in 2018, a new record. While these statistics depict high potential from the steel industry, which is a part of the metal processing industry, especially for epoxy resins, it also indicates the growth scope awaiting high temperature coating manufacturers in the years to come.
According to Fact.MR, the global high temperature coatings market is predicted to ascend at over 4% CAGR during the forecast period of 2021 to 2031.
Key Takeaways from High Temperature Coatings Market Study
- Surge in demand for epoxy high temperature coatings to bolster growth of manufacturers.
- Rise in requirement from aerospace & defense and automotive industries to fuel sales of high temperature coatings.
- China and Japan to remain among the fastest-growing markets.
- Asia Pacific to maintain its lead in the global market, followed by Europe and North America.
- The United States to hold a major share in the North America market.
- Germany remains the epicenter of the high temperature coatings market in Europe.
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High Temperature Coatings Market Segmentation by Category
Application
- Aerospace & Defense
- Automotive
- Coil Coatings
- Petrochemical
- Marine
- Metal Processing
- Stoves & Grills
- Other Applications
Resin
- Epoxy
- Silicone
- Polyester
- Acrylic
- Alkyd
- Other Resin Types
Region
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
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Crucial insights in the High Temperature Coatings Market research:
- Underlying macro- and microeconomic factors impacting the growth of the High Temperature Coatings Market Basic overview of the High Temperature Coatings Market including market definition, classification, and applications.
- Scrutinization of each High Temperature Coatings Market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend of High Temperature Coatings Market across various industries.
- Important regions and countries offering lucrative opportunities to High Temperature Coatings Market stakeholders.
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