GVR Report cover High Temperature Coatings Market Size, Share & Trends Report

High Temperature Coatings Market Size, Share & Trends Analysis Report By Product (Polyethersulfone, Acrylic), By Technology (Waterborne, Powder), By End Use, And Segment Forecasts, 2016 - 2024

  • Report ID: GVR-1-68038-007-1
  • Number of Pages: 115
  • Format: Electronic (PDF)

Industry Insights

The global high temperature coatings market size was valued at USD 3.3 billion in 2015. The industry is anticipated to witness moderate growth over the next few years on account of increasing product demand across various end-use industries such as metal processing, cookware and bakeware, and building and construction.

A major benefit associated with these products is protection against corrosion due to prolonged equipment usage in fire and high temperature environment. Fireproofing plays an essential part in the construction sector as it offers protection to structured steel and other parts of the building.

U.S. high temperature coatings market

However, lack of synergy among building codes in different countries is expected to hamper market penetration in the construction sector. Consistency in regulatory norms enables coating manufacturers to enhance their investments in R&D projects. Underwriters Laboratories (UL) is a major regulatory agency that has issued guidelines and standards for conducting application testing of the coatings.

Other government and regulatory agencies such as ASTM, ANSI, ISO, and NFPA govern the testing and formulation of ingredients used in the coatings. Incidents of building collapse and occupational injuries due to fire have led to numerous revisions in the safety norms to integrate the flame retardant inorganic agents in coating materials. Silicone, phosphorus, and halogen-based products have gained significance owing to their enhanced resilience to high temperature environment.

Product Insights

Acrylic emerged as the largest product segment and accounted for over 20.0% of the total volume in 2015. Surging demand for heat resistant coatings with decorative properties in building and transportation infrastructure has led to high penetration of the acrylic based products in various industries. Low volatile organic compound (VOC) content in the product formulation is another factor contributing to its increased adoption in the industries.

Polyethersulfone (PES) is expected to emerge as the fastest growing segment in terms of volume over the next few years. The product is estimated to reach over USD 470.0 million by 2024. Increasing product demand can be attributed to its physical characteristics such as enhanced metal adhesion, transparency, and long-term thermal stability. These features have increased the product usage in a broad range of applications including wood furniture, construction, automotive refinishes, and marine.

Epoxy was the second largest segment in 2015 owing to its high durability and chemically resistant characteristics. The segment is expected to expand at a CAGR of over 4.0% in terms of revenue and volume during the forecast period. Epoxy-based products find extensive usage in corrosion resistant applications including automobiles, boats, steel pipes, and transmission pipelines, which are exposed to high temperature environment. Demand for epoxy based coatings is increasing due to their compatibility with a wide range of color formulation and solvent free ingredients.

Technology Insights

The waterborne technology was the leading technology segment in 2015, accounting for over 75.0% share of the total volume. Shifting trend towards non-solvent based technologies has resulted in an increased adoption of waterborne and powder based products in various industrial sectors. In addition to low VOC content, surging demand for cost-effective products with minimal environmental impact is expected to drive the demand for waterborne technology over the next few years.

Powder coatings are expected to emerge as the fastest growing formulation technology in terms of revenue and volume by 2024. Demand for this segment is anticipated to reach 95.6 kilotons by 2024. Stringent environmental regulations regarding solvent based products have urged coating manufacturers to shift towards powder-based products. Major benefits associated with this technology include higher utilization rates and ease of application, which are expected to drive the segment demand over the forecast period.

End-Use Insights

Energy and power was the leading end-use segment in 2015, accounting for 16.4% share of the total revenue. Equipment such as furnaces, heaters, towers, and ducts used in refinery and chemical plants are exposed to heat and high temperature environment. Growing concerns over equipment durability and downtime are expected to drive the demand for heat resistant coatings with enhanced color stability and corrosion resilience.

In 2015, metal processing emerged as the second largest segment in terms of revenue. Increased adoption of the product can be attributed to surging demand for metal equipment in the industrial and commercial sectors that can withstand rusting due to external weather. Metal piping, heavy equipment, and industrial machinery find usage in various applications such as forestry, agriculture, manufacturing, and waste treatment facilities. Growing concerns over equipment corrosion and degradation are expected to drive the segment over the forecast period.

Global high temperature coatings market

The U.S. market size in the automotive sector was USD 59.8 million in 2015 and is anticipated to expand at a CAGR of 3.6% over the forecast period. The coating acts as a thermal barrier on engine components and protects the metal substrates against corrosion, thereby minimizing frequent maintenance requirements. Growing concerns over stability of automotive components in racing and sports activities have urged automobile manufacturers to use heat resistant coatings that offer enhanced adhesion and thermal resistance in wide temperature ranges.

Regional Insights

The market in Asia Pacific led the global industry in 2015 and accounted for over 35.0% share of the total volume. Significant growth of the construction and automotive sectors, particularly in China, India, and Japan, is expected to drive product demand in the region.

Europe accounted for over 30.0% share of the global revenue in 2015. However, sluggish growth observed in various end-use sectors such as oil and gas, construction, and aerospace in the EU-27 countries is expected to hamper market penetration in the region. As a result, the region is likely to lose its share in the global industry over the next few years.

The market in North America is anticipated to expand at a moderate CAGR of 4.1% in terms of revenue over the forecast period. Wide product adoption in major end-use industries including electronics, automobile, energy, and construction has contributed significantly to the industrial growth in this region. Renewal of reforms to incorporate thermally efficient materials and environment-friendly materials is expected to play a major role in steering product demand in the region.

High Temperature Coatings Market Share Insights

The global market is moderately fragmented due to the presence of a large number of multinational corporations such as BASF, PPG Industries, Sherwin-Williams, Axalta Coating Systems, Jotun AS, and Akzo Nobel NV. Key strategies adopted by these industry players include long-term partnership with raw material suppliers to achieve economies of scale and subsequently offer products at a lower price than competitors.

Other companies operating in the global industry include Valspar Corporation; Carboline Company; General Magnaplate Corporation; Hempel AS; Chemco International; Whitford Corporation; Weilburger Coatings GmbH; Belzona International Ltd.; and Aremco Products Inc.

Report Scope



Base year for estimation


Actual estimates/Historical data


Forecast period

2016 - 2024

Market representation

Volume in Kilotons, Revenue in USD Million, and CAGR from 2016 to 2024

Regional scope

North America, Western Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Canada, Mexico, France, Germany, U.K., Italy, Russia, China, Japan, India, South Korea, and Brazil

Report coverage

Volume forecast, Revenue forecast, competitive landscape, growth factors and trends

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