According to a new report, published by KBV research, The Global Thermal Insulation Coating Market size is expected to reach $16 billion by 2031, rising at a market growth of 6.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 4,099.67 kilo tonnes, experiencing a growth of 26.0% (2020-2023).
As energy prices climb and environmental concerns grow, governments around the world are introducing stricter energy efficiency regulations and offering incentives for companies to adopt energy-saving technologies. In response to these policies, industries are recognizing the value of thermal insulation coatings not only as a way to cut energy costs but also as a tool to meet regulatory standards. By adopting these coatings, businesses can reduce their energy consumption, lower their operational costs, and improve their overall environmental performance.
The Acrylic segment is leading the Global Thermal Insulation Coating Market by Product in 2023; thereby, achieving a market value of $5.2 billion by 2031. This substantial share highlights the widespread adoption and preference for acrylic-based coatings, which are known for their excellent thermal insulation properties, durability, and versatility. Acrylic coatings offer superior protection against heat transfer, making them ideal for a variety of applications in industries such as construction, automotive, and manufacturing. Their ability to form a durable, weather-resistant barrier contributes to energy efficiency by maintaining desired temperatures within buildings and industrial equipment.
The Automotive & Transportation segment registers a CAGR of 6.3% during (2024 - 2031). Thermal insulation coatings are used in various automotive components, including engine parts, exhaust systems, and undercarriages, to reduce heat transfer, improve energy efficiency, and extend the lifespan of components. The growing trend toward electric vehicles (EVs) and the emphasis on reducing emissions have further accelerated the adoption of thermal insulation coatings in the automotive industry. These coatings not only optimize the thermal management of components but also contribute to the overall performance and sustainability goals of the transportation sector.
Full Report: https://www.kbvresearch.com/thermal-insulation-coating-market/
The Asia Pacific region dominated the Global Thermal Insulation Coating Market by Region in 2023; thereby, achieving a market value of $7.2 billion by 2031. The North America region is expected to witness a CAGR of 5.8% during (2024 - 2031). Additionally, The Europe region would exhibit a CAGR of 6.3% during (2024 - 2031).
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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