Prospect analysis of global thermal insulation coatings

According to a recent study by MarketsandMarkets, the global thermal insulation coatings market is about $8.7 billion in 2018 and is expected to reach $12.5 billion by 2023, with a compound annual growth rate of 7.5%. Insulation coatings can suppress the transfer of temperature from one side of the object to the other, thereby achieving energy savings. This type of coating is widely used in construction engineering, industrial facilities, aerospace, marine, automotive and other fields.

The study pointed out that the shipbuilding industry is the fastest growing demand for thermal insulation coating applications in the next few years. This is due to the energy-saving, personal protection of the personnel, the surface protection of the substrate and other factors, and the environment in which the ship is located is generally humid, which makes it more susceptible to corrosion. The application of thermal insulation coating provides insulation for the ship structure. Anti-corrosion performance, in addition, corrosion under the insulation layer (CUI) has become a serious problem in the shipbuilding field, and thermal insulation coatings have a good anti-corrosion effect because they can form a dense coating on the substrate. It has developed rapidly in the field of ships. Not only that, thermal insulation coatings also increase production efficiency for shipbuilding industries in emerging economies such as India, China, South Korea, etc., thereby boosting the development of the thermal insulation coatings market.

From the raw material point of view, acrylic resin is the largest raw material for thermal insulation coating applications in the next few years. Acrylic thermal insulation coating can be sprayed and easy to operate. The construction temperature can reach 150 °C. Among them, the construction temperature of water-based acrylic thermal insulation coating can reach 177 °C, which is an ideal substitute for traditional surface treatment materials. The layer is easy to maintain and has good CUI suppression properties, making it an ideal replacement for thick interlayers. Analysis shows that in the next few years, with the development of industrialization and manufacturing, the demand for acrylic thermal insulation coatings will also increase.

From a market perspective, Asia Pacific is the largest market for thermal insulation coatings in the world in 2018. As the industrialization process in Asia-Pacific countries including China, Japan, India, South Korea and Australia continues to advance, the demand for thermal insulation coatings accounts for the largest proportion.

Thermal insulation coatings are one of the important varieties in the coatings industry. Many international companies are involved in this field, including: AkzoNobel, the Netherlands, PPG Industries Group, US Sherwin-Williams, Kansai Paints, and Jotun, Norway. Nippon Paint, USA, Mascoat, etc. Among them, Sherwin-William's thermal insulation coatings are included in the high-performance coatings business. The company's business is located in North America, South America, the Caribbean, Europe, Asia Pacific and Australia. PPG Industrial Group's thermal insulation coatings are one of the high performance coatings in the protective coatings business segment, which are mainly marketed under the HI-TEMP brand. Nearly 70% of AkzoNobel’s revenue comes from North American and European markets, but analysis shows that the demand for thermal insulation coatings in the Asia-Pacific market is gradually increasing, so it will increase investment in the Asia-Pacific region and seize market share to improve Asia Pacific. Market revenue.

In recent years, some large international companies have started their operations according to the market situation. For example, in July 2018, AkzoNobel opened a new paint production facility in Kenya, Africa, providing a stocking base for marine coatings, protective coatings and powder coatings. This is used as a bridgehead to enter the East African market. In June 2017, Sherwin-Williams completed the acquisition of US Valspar, and Valspar shareholders received $113 per share in cash. The two companies' products are highly complementary, and the merger enriches the brand portfolio and broadens the global product range. layout. In July 2017, PPG Industries Group acquired the Crown Group, a coatings application service, which strengthened PPG's service capabilities to its customers. In 2018, PPG Industrial Group implemented a number of acquisitions to improve product structure and global layout.