Energy Efficient Coatings Market by Type, Application, Element - Global Trends and Forecast to 2025
Category: #business  By Partha Ray  Date: 2019-10-23
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Energy Efficient Coatings Market by Type, Application, Element - Global Trends and Forecast to 2025

Energy Efficient Coatings Market size will witness significant growth during forecast timeframe owing to its increasing application outlook in automotive, electrical, construction, transportation and furniture industry. Growing consumer inclination towards environment friendly and energy saving products also should signify positive industry outlook driving product demand.

Global construction industry is expected to surpass USD 13 trillion by 2024 owing to rising urban population in emerging economies like Brazil, Thailand, Indonesia and Argentina. Increasing construction frequency of commercial buildings & skyscrapers along with growing demand for energy efficient & smart construction should propel industry growth. Energy efficient coatings lowers internal building temperatures preventing heat island effect driving down energy cost for cooling systems.

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Energy efficient coatings are also widely used in aerospace & defense industry to insulate exhaust systems, aerodynamic fairings, fire barriers, heat shields, suppression systems and nacelle fire walls which operate under extreme high temperature ranges. They offer to control operating temperatures by reduced energy loss, UV protection, improved performance and significant protection from corrosion under insulation.

Product range for energy efficient coatings are based on acrylic, epoxy, polyester & epoxy-polyester materials. Epoxy based products are used in electrical industry as dielectric insulators for aluminum and copper conductors owing to its excellent flexibility, durability and adhesive characteristics. They are also widely used in construction industry which can be attributed to its low heat conductivity, excellent shock resistance properties, toughness and dimensional stability.

Strong investments offered by manufacturers towards R&D in lieu to develop cost effective performance products along with strong technological development in nanotechnology based thermal insulation should boost market growth. In February 2016, PPG invested over USD 7 million in coating innovation center enhancing its resources in laboratory and testing space. Similar investments made by other industry players to capitalize higher market share should propel energy efficient coatings market size.

U.S. energy efficient coatings market size will witness strong gains by 2024 owing to its solid application scope in aerospace & defense and construction industry. Strict regulatory regimes regarding emission control, energy efficient & smart constructions should drive regional product demand.

 Epoxy-polyester based energy efficient coatings market size should grow significantly due to its strong application outlook in agricultural, automobile, electrical and heavy-duty equipment industry. They are widely popular for its shock & corrosion resistant properties. Polyester based product has moderate market share with its application scope in furniture and auto parts manufacturing industry.

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Global energy efficient coatings market share is moderately concentrated with key industry participants including AkzoNobel, BASG, PPG, IGP, Berger Paints, Kansai Paints, TCI and Axalta. Companies strategize to expand its market reach by heavily investing in product development and new product launches. They also concentrate on expanding their distribution network especially in growing economies through mergers, acquisitions, partnerships and collaborations, it also reduces their raw material sourcing risk & uncertainties.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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