United States, Rockville, MD, June 13, 2022 (GLOBE NEWSWIRE) -- The United States high temperature coatings market is estimated at US$ 1,216.9 Million in the year 2022, to exceed the valuation of US$ 1,691.7 Million by the end of 2032, expanding at an impressive CAGR of 3.3% during the forecast years of 2022-2032. The market in United States registered 2.0% growth rate during 2017-2021. The market is likely to expand because of opportunities in heat resistant coatings in coming years.
The offshore sector maintains dominance in oil & gas industry. The demand for heat resistant coatings has grown proportionally with the growth of offshore oil and gas units. Key players in the high temperature coatings market are devoting their considerable time and attention towards satisfying demand from offshore oil and gas sector, as it carries the potential to be a lucrative use case for coming future years. While applications such as high temperature pipes, stack flares, pumps, and heat exchangers etc. dominate overall adoption of coatings in offshore applications, the market is likely to provide lucrative opportunities in the adoption of heat resistant coatings in coming future years.
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Key Takeaways from Market Study
- The high temperature coatings market in the United States is valued at US$ 1,216.9 Million in 2022, projected to expand at CAGR of 3.3%, to exceed the valuation of US$ 1,691.7 Million by the end of 2032
- During the historic years 2017-2021, the high temperature coatings market witnessed 2.0% growth rate
- Silicone segment under type leads the market by holding 22.6% market share in United States high temperature coatings market and is projected to register 3.6% growth rate in forecast years
- Water-based technology in technology segment holds the largest market share of 71.8% and is projected to rise at the rate of 3.2% over the assessment period
- Steel coating holds the largest market share of 58.9% share in the overall market as compared to aluminium and others segment that holds 27.5% and 13.6% market shares
- South-West US dominates the market under regions as it holds 27.2% share in the overall market and is projected to rise at the rate of 3.9%
- West US and South-West US together hold 52.5% share in the United States market share
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Development of Market
Market players in the high temperature coatings market are focusing on product diversification as a winning strategy to enhance their market presence. They are carrying out acquisition and collaborative activities and are looking to capture contracts for major utility projects to provide better and improved coating solutions.
Prominent players in the United States high temperature coatings market are introducing innovative offerings that can protect products and components against corrosion and resistance. Furthermore, market players are acquiring other prominent companies to diversify and expand their product portfolios to accelerate growth and expand their market access.
- Axalta Coating Systems agreed to acquire U-POL Holdings Limited in 2021. The acquisition of leading manufacturers of refinishing and repair products, which are majorly used in aftermarket and refinish protective applications, will accelerate the growth of the company.
- Carboline introduced Plasite XHT 400 in 2020, which is a heat-resistant lining providing long-term protection for fire tubes. This formulation is designed to protect vessel surfaces and fire tubes in hot conditions.
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the US high temperature coatings market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by type (silicone (acrylic silicone, aluminium pigmented silicone), epoxy, epoxy novolac, aluminium, polyurethane, perfluoroalkoxy alkane, PPS, PTFE, and others), technology (water based, solvent based, solid based), component (single component, two component, multiple component), coating surface (steel, aluminium, others), curing mechanism (ambient cured, heat cured, UV cured, solvent cured, others), use case (new construction, repair/rehabilitation), surface temperature range (300°F-500°F, 500°F-700°F, 700°F-900°F, 900°F-1100°F, 1100°F-1300°F, 1300°F-1500°F, 1500°F-2000°F, 2000°F-2500°F, 2500°F-3000°F, 3000°F-3200°F), application (oil and gas industry (onshore (pumps, stacks, flares, high temperature pipes, heat exchangers, others), offshore (chimney stack, flare stack, steam pipes, single-cavity blowout preventer, heat exchangers, sub-sea cooler, others)), water and waste water treatment (boiler, steam pipes, heat exchangers (plate exchangers, shell and tube heat exchangers), others), marine industry (marine boiler, engine, reactor compartments, exhaust, others), mining industry, power generation industry, petrochemical industry (high pressure pumps & vessels, pumping stations, metering pumps, high temperature liquid transfer pumps, centrifugal pumps, flare, stack, others), chemical industry (boiler, reactor & other procession equipment, tanks & vessels, steam line, high temperature solvent transfer line, threaded connectors, others), aerospace industry (jet pipes interior, jet engines, nose cowl inlets, turbines, vents, bushing, rotary joints, cams, others), foundry and refractories), and across major regions of the United States (West US, South-West US, Mid-West US, North-East US, and South-East US)
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