Insulation paints and coatings devices are being adopted by a large number of end users for various applications. Insulation paints and coatings are used to maintain temperature balance in buildings. Insulation paints and coatings are applied to external surfaces, such as building roofs and outer walls, to prevent warming up of internal environment due to their low thermal conductivity. Conversely, in cold climates, insulation paints and coatings application, on interior room surfaces, results in better heat retention in the premises and thus, reduced heat loss to the environment. Thus, insulation paints and coatings, when applied as per climatic conditions, can reduce energy consumption. Energy efficiency guidelines and regulations that intend to mitigate demand growth of energy through efficiency measures are also helping drive demand in the insulation paints and coatings market.
Based on the type, the acrylic segment will continue to dominate the Insulation Paints and Coatings market in terms of global market share and is expected to account for more than 42 percent share of the total absolute dollar opportunity in the insulation paints and coatings market by the end of 2026.
Based on the base type, the water based segment will lead the global Insulation Paints and Coatings market and is expected to account for an absolute opportunity of $1.7 billion by the end of 2026.
In 2018, Asia Pacific and North America are estimated to be the most lucrative regions in the global Insulation Paints and Coatings market and are likely to account for 61% of the global absolute $ opportunity in the Insulation Paints and Coatings market share. Furthermore, growing urbanization and industrialization and faster adoption of technology in Asia Pacific will present new opportunities in the Insulation Paints and Coatings market. China continues to be a strong market for Insulation Paints and Coatings and robust growth is being witnessed in the South East Asia Pacific region.
Moving forward, from providing Insulation Paints and Coatings through offline channels, manufacturers are now moving to offering products through online ordering systems, with a range of colour options and availability of shipping options across the globe. Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Nippon Paint Holdings Co., Ltd., Kansai Paint Co. Ltd, Jotun Group, Hy-Tech Thermal Solutions, Highland International, Okitsumo Inc., Nissin Sangyo Co., Ltd. are some of the key players in the global Insulation Paints and Coatings market.