Heat Resistant Coatings Market Drivers, Restraints, Opportunities, Threats And Growth Forecast To 2030

[Ram Vasekar]

Regulatory Framework

ASTM standards under ASTM D248-18 offer standard test methods for evaluating coatings for high temperature service. The method covers the evaluation of the heat-resistant properties of coatings designed to protect steel surfaces exposed to elevated temperatures during their service life for interior and exterior coatings.

Under defined temperature settings, ISO 3248:2016 provides a method for testing the resistance of single coatings or multi-coat systems of paints, varnishes, or related materials to changes in gloss and/or colour, blistering, cracking, and/or detachment from the substrate.

Market Forecast

According to MRFR analysis, the global Heat Resistant Coatings Market is expected to reach a value of over USD 10 billion by 2030, with a CAGR of around 5%.

Heat resistant paint and coatings are specialised coatings that can withstand high temperatures while also offering corrosion protection. They were created to protect surfaces that are subjected to extreme heat and fast temperature fluctuations. High-temperature paint can withstand temperatures of up to 700°C.

Heat resistant coatings can be an epoxy phenolic, silicone, epoxy novolac, silicone, or a more specific multi-polymeric matrix..

Competitor Analysis

Some of the key players operating in the global heat resistant coatings market include AkzoNobel N.V. (Netherlands), Sherwin Williams Company (US), PPG Industries Inc. (US), Axalta Coating Systems (US), Jotun A/S (Norway), Hempel A/S (Denmark), Kansai Paints Co., Ltd (Japan), KCC Corporation (South Korea), RPM International Inc. (US), and Tikkurila OYJ (Finland).  

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Segmentation

By Application

• Based on application, the global heat resistant coatings market has been segmented into automotive & transportation, industrial, consumer goods, building & construction, and others.
• Heat resistant coatings are utilized in thrust cage bearings, wheel assemblies, brake clips, door strikers, exhaust gaskets, and gas filler tubes in the automobile sector. In the aerospace sector, it is used for turbine engines, blades, combustion liners, compressor casings, nozzles, pistons, and pumps, among other things.
• In the manufacturing, military, petrochemical, and power industries, high-temperature resistant coatings are commonly used for pipelines, fireproofing, jet engines, offshore rigs, original equipment, and different plants/facilities that use high-temperature processes.
• Restaurants, hospitals, institutions, and residential buildings, as well as HVAC systems, employ heat resistant coatings. The increasing construction industry in emerging nations, with more residential and commercial constructions, notably in India and China, as well as rising living standards and disposable budgets, is driving the heat resistant coatings market.
• These coatings are widely used in home applicances, furniture, fan, refrigerators, bicycles, etc.
• Others segment include agriculture, medical, storage tanks, chemicals, among others.

By Resin Type

• On the basis of resin type, the global Heat Resistant Coatings Market Opportunity has been segmented into silicone resin, epoxy resin, acrylic resin, polyester resin, modified resin, and others.
• The most commonly used resins are silicone resins which makes films that are heat resistant, weatherable, dielectrically conductive, and water repellent. They also come in a variety of consistency options, ranging from high-viscosity liquids to solids. Silicone resins are used to increase the durability, safety, and dependability of paints and varnishes, as well as electrical and other applications.
• Epoxy coatings are organic polymers created by chemically mixing epoxy resins with co-reactants/hardeners/curatives. Because of their great impact and abrasion resistance, epoxy coatings are employed in oilfield, offshore, and petrochemical plant applications.
• Acrylic coatings have many advantages, including quick-drying and high gloss capability. They make great adhesion-promoting primers. Acrylics often require fewer ingredients and can increase the coated product’s corrosion resistance.
• Polyester powder coatings are solvent-free and are electrostatically applied on conductive coating substrates, mostly metals. Thermosetting powder coatings rely only on heat for melting, flow, and curing, with temperatures ranging from 150 to 200°
• Silicon alkyd, elastomer modified acrylic resins, and other modified resins are some of the most common. Silicone acrylics are single-package air-dry paints that keep their colour and gloss between 350 and 400° Silicone alkyds, on the other hand, are air dry paints that come in a single container and have similar colour and gloss retention.
• Others segment include alkyd, phenolic, polyurethane, vinyl-acrylic resin, PTFE resin, among others.

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By Region

• North America: Regional growth for heat resistant coatings in North America is driven by the enincreasing investment in automotive and aerospace sector. The region’s total construction spending recovered and peaked at USD 1.57 trillion in July 2021, a record high for the series and 12% higher than 2019 average levels.
• Asia-Pacific: Asia-Pacific emerged as the fastest-growing regional market. Factors such as improving economic conditions along with fast-paced urbanization and industrialization are driving the global market growth. The construction industry in Asia-Pacific has been booming, thanks to expanding manufacturing and service sector infrastructure, rising home building, and increased government spending on public works.
• Europe: The construction industry is vital to the European Union's economy. The sector employs 18 million people directly and accounts for about 9% of the EU's GDP. It also generates new jobs, stimulates economic growth, and addresses social, environmental, and energy issues.

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