Heat Resistant Coatings Market Share

Global Heat-resistant Coatings Market Overview

Heat-resistant Coatings Market Size was valued at USD 6 Billion in 2022 and is projected to grow from USD 6.5 Billion in 2023 to USD 10 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2023 - 2030). Due to its applications in the construction industry for restoring structural strength and architectural shape of historic buildings, demand for the product is expected to increase are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Heat-resistant Coatings Market Trends

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  Growing automotive industries to boost the market growth

  
  

The growth of the automotive industry is one of the key drivers of the heat-resistant coating market. Heat-resistant coatings are widely used in automotive applications to protect engine components from the high temperatures generated during operation. These coatings help to improve the performance and durability of engine parts, as well as reduce emissions and improve fuel efficiency. In addition to the automotive industry, Heat-resistant coatings are also used in a wide range of other applications, including aerospace, industrial equipment, and building and construction. These coatings are designed to withstand high temperatures and protect surfaces from corrosion, oxidation, and other forms of damage.

The global heat-resistant coating market is expected to continue to grow in the coming years, driven by factors such as increasing demand from end-use industries, growing awareness of the benefits of these coatings, and the development of new and innovative products. However, the market may also face challenges such as rising competition from alternative materials and increasing regulatory pressures on the use of certain chemicals in coatings. Therefore, such factors related to Heat-resistant Coatings have enhanced the Heat-resistant Coatings market CAGR across the globe in recent years.

Heat-resistant Coatings Market Segment Insights

Heat-resistant Coatings Type Insights

The  Heat-resistant Coatings Market segmentation, based on type, includes Silicone Resin, Epoxy Resin, Acrylic Resin, Polyester Resin, Modified Resin, and Others. The Silicone Resin segment held the majority share in 2022 of the  Heat-resistant Coatings Market revenue. Silicone resin-based coatings are widely used in high-temperature applications due to their excellent thermal stability, chemical resistance, and durability. They can withstand temperatures of up to 600°C, making them ideal for use in automotive, aerospace, and industrial applications.

Heat-resistant Coatings Application Insights

Based on application, the  Heat-resistant Coatings Market segmentation includes Automotive & Transportation, Industrial, Building & Construction, Consumer Goods, and others. The Automotive & Transportation segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. This is due to the increasing demand for high-performance coatings that can withstand high temperatures and harsh environments in automotive and aerospace applications. Heat-resistant coatings are used to protect engine components, exhaust systems, and other parts that are exposed to high temperatures, as well as to improve fuel efficiency and reduce emissions. These all factors for Heat-resistant Coatings positively impact the market growth.

Figure 2:  Heat-resistant Coatings Market, by Type, 2022 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Heat-resistant Coatings Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region has a significant and growing population, and as a result, there is increasing demand for a range of products and services, including automotive, construction, and industrial goods. The use of heat-resistant coatings is expected to grow in this region due to the increasing demand for high-performance coatings that can withstand high temperatures and harsh environments in various industries. Moreover, the increasing investments in infrastructure development and construction activities in countries such as China and India are expected to drive the growth of the heat-resistant coatings market in the region. The growth of the automotive industry in the region is also expected to drive demand for heat-resistant coatings, as the industry requires high-performance coatings for engine components, exhaust systems, and other parts that are exposed to high temperatures.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil

Figure 3:  HEAT-RESISTANT COATINGS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s Heat-resistant Coatings market accounts for the third-largest market share. Europe has a large number of industries where heat-resistant coatings are essential, including automotive, aerospace, construction, and others. In addition, the region has a strong emphasis on research and development, and many European companies are actively engaged in developing advanced heat-resistant coatings that can meet the growing demand from various industries. The market for heat-resistant coatings in Europe is also driven by various regulations and standards that require high-performance coatings to ensure the safety and reliability of various products and applications. For example, the automotive industry in Europe has strict emission standards that require high-performance coatings for exhaust systems, catalytic converters, and other components. Further, the Germany Heat-resistant Coatings market held the largest market share, and the UK Heat-resistant Coatings market was the fastest-growing market in the European region.

North America, Heat-resistant Coatings market, is expected to grow at the fastest CAGR from 2023 to 2030. The market for heat-resistant coatings in North America is driven by various factors, including the growth of end-user industries such as automotive, aerospace, and construction, which require high-performance coatings that can withstand high temperatures and provide long-lasting protection. In addition, the region has a strong focus on research and development, and many companies in North America are actively engaged in developing advanced coatings that can meet the growing demand from various industries. The regulatory environment in North America is also a significant driver of the heat-resistant coatings market, as various regulations and standards require high-performance coatings to ensure the safety and reliability of various products and applications. For example, the Environmental Protection Agency (EPA) in the United States has strict emission standards for the automotive industry that require high-performance coatings for exhaust systems, catalytic converters, and other components. Moreover, the U.S. Heat-resistant Coatings market held the largest market share, and the Canada Heat-resistant Coatings market was the fastest-growing market in the North American region.

Heat-resistant Coatings Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Heat-resistant Coatings market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Heat-resistant Coatings industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Heat Resistant Coatings. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Heat-resistant Coatings industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Heat-resistant Coatings industry to benefit customers and expand the market sector. Major Heat-resistant Coatings market players, including AkzoNobel N.V., Sherwin Williams Company, PPG Industries Inc., Axalta Coating Systems, Jotun A/S, Hempel A/S, Kansai Paints Co., Ltd, KCC Corporation, RPM International Inc., and Tikkurila OYJ, and others, are attempting to increase market demand by funding R&D initiatives.

AkzoNobel N.V. is a multinational company that specializes in the production of paints, coatings, and specialty chemicals. AkzoNobel operates in several markets, including automotive, aerospace, marine, and protective coatings, as well as decorative paints and performance coatings. In recent years, AkzoNobel has focused on developing sustainable and eco-friendly coatings and has invested heavily in research and development to create products that meet the changing needs of customers and comply with increasingly stringent environmental regulations. The company has also been actively expanding its presence in emerging markets such as Asia-Pacific and Latin America.

Sherwin-Williams Company is an American multinational company that produces paints, coatings, and related products. Sherwin Williams operates in several markets, including architectural coatings, industrial coatings, and automotive coatings, and has a broad portfolio of well-known brands such as Sherwin Williams, Valspar, and Krylon. In recent years, Sherwin-Williams has focused on expanding its product portfolio through acquisitions and strategic partnerships. The company has also invested heavily in research and development to create innovative coatings that offer better performance and sustainability.

Key Companies in the Heat-resistant Coatings market includes

• AkzoNobel N.V.


• Sherwin Williams Company


• PPG Industries Inc.


• Axalta Coating Systems


• Jotun A/S


• Hempel A/S


• Kansai Paints Co., Ltd


• KCC Corporation


• RPM International Inc.


• Tikkurila OYJ among others

Heat-resistant Coatings Industry Developments

August 2020: PPG and Sibi have announced a four-year partnership with Tricon American Homes (TAH) for PPG paint products.

Heat-resistant Coatings Market Segmentation

Heat-resistant Coatings Type Outlook

• Silicone Resin


• Epoxy & Acrylic Resin


• Polyester Resin & Modified Resin


• Others

Heat-resistant Coatings Application Outlook

• Automotive & Transportation


• Industrial, Building & Construction


• Consumer Goods


• Others

Heat-resistant Coatings Regional Outlook

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  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America