Global Insulation Coatings Market: Overview
Insulation is a material designed to prevent heat or sound from being transmitted from one area to another. It is usually used to keep heat and sound in or out of a house, or to confine it to certain parts of the house. Insulation is used in different ways; it commonly incorporates materials that consist of millions of tiny pockets of air. Increase in energy consumption is a challenge for various countries. Energy used in commercial and residential buildings accounts for about 30% of total national consumption. This energy is responsible for more than 25% of the total carbon dioxide emission in the environment, causing the greenhouse effect and adding to the rise in temperature globally. In order to reduce carbon emission, manufacturers are inventing materials that can lower energy consumption. These materials are called insulation coatings. Insulation coatings possess unique characteristics. Insulation Coatings offer high thermal coefficient and low thermal conductivity, reflects infrared rays, and provides protection.
Global Insulation Coatings Market: Drivers & Restraints
Rise in number of commercial buildings, increase in construction of skyscrapers, and growth in need to minimize energy costs are some of the factors expected to boost the demand for insulation coatings in the near future. This is anticipated to create significant opportunities for global manufacturers of insulation coatings. However, fluctuation in oil prices is estimated to hamper the insulation coatings market during the forecast period.
Global Insulation Coatings Market: Key Segments
Based on product type, the insulation coatings market can be segmented into acrylic, epoxy, polyurethane, and others. Acrylic insulation is expected to dominate the insulation coatings market due to its inexpensive nature and easy application properties. Furthermore, it possesses properties such as high tensile strength, light weight, and low cost over other substitutes. Thus, Insulation Coatings is ideal for usage in various industries. Epoxies are used in the construction industry, due to insulation coatings properties such as high resistance to abrasion, UV light, and heat; and durability. Rise in demand for green buildings is projected to create high growth potential for the epoxy segment during the forecast period.
In terms of end-use industry, the insulation coatings market can be divided into automotive, construction & building, aerospace, marine, industrial, and others. Expansion in the marine segment is anticipated to propel the insulation coatings market during the forecast period. Insulation Coatings can be ascribed to the increase in need for protection of Polychlorinated Biphenyls (PCB’s), which function in harsh chemical environments. The construction & building segment also accounts for key share, as insulation coatings are free from volatile organic compounds (VOCs). Thus, insulation coatings are suitable for energy-efficient buildings and indoor air quality improvement.
Global Insulation Coatings Market: Regional Outlook
In terms of region, the global insulation coatings market can be segregated into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific dominated the insulation coatings market in 2017, due to the rise in construction and infrastructure activities in India and China. Furthermore, low-cost labor and presence of various end-use industries in Asia Pacific are boosting the demand for insulation coatings market in the region. China and India occupy significant share of the global insulation coatings manufacturing sector. The insulation coatings market in Europe is anticipated to expand at a remarkable pace from 2018 to 2026, due to the growth in the automotive industry and strong presence of automotive manufacturers. Increase in green building initiatives, especially in Europe, is anticipated to propel the demand for epoxy coatings s. Latin America and Middle East & Africa also account for prominent share of the global insulation coatings market. This can be ascribed to the increase in demand for insulation coatings market in various end-use industries and collective adoption of sustainable technology in production in these regions. Growth in automotive production and rise in investments in defense & aerospace are projected to augment the demand for insulation coatings market during the forecast period.
Global Insulation Coatings Market: Key Players
Prominent players operating in the global Insulation Coatings market are AKZO NOBEL, PPG Industries Inc., The Sherwin-Williams Company, and The Dow Chemical Company.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.