HOME › Research Insight › The Demand of Heat Resistant Coating Has Also Been Increasing Rapidly in New Applications Such as Marine and Aerospace & Defense and Other Small Industries
The Demand of Heat Resistant Coating Has Also Been Increasing Rapidly in New Applications Such as Marine and Aerospace & Defense and Other Small Industries
Investment & expansion was the key strategy adopted by industry players to achieve growth in the global heat resistant coating market. This strategy accounted for the largest share of all the strategies adopted by the market players to expand their global presence and increase their market share in the heat resistant coating market between 2013 and 2016. The current demand in the consumer goods, automotive & transportation, and building & construction industries is driving the heat resistant coating market. The demand of heat resistant coating has also been increasing rapidly in new applications such as marine and aerospace & defense and other small industries. The developments in the end-use industries have encouraged companies to adopt various growth strategies in the heat resistant coating market.
Some of the leading heat resistant coating manufacturers are AkzoNobel N.V. (Netherlands), Sherwin Williams Company (U.S.), PPG Industries Inc. (U.S.), Axalta Coating Systems (U.S.), Jotun A/S (Norway), Hempel A/S (Denmark), Kansai Paints Co., Ltd (Japan), KCC Corporation (South Korea), RPM International Inc. (U.S.), and Tikkurila OYJ (Finland). They adopted various organic and inorganic growth strategies to improve their business and maintain their market share, globally.
Companies adopted strategies such as investment & expansion, new product launch, merger & acquisition, and partnership, agreements, contracts & joint venture to increase their market share and expand their distribution network, globally. These strategies accounted for a significant share of the total number of growth strategies adopted by players in the global heat resistant coating market between 2013 and 2016.
Key companies such as AkzoNobel N.V. (Netherlands), Sherwin Williams Company (U.S.), PPG Industries Inc. (U.S.), Axalta Coating Systems (U.S.), Jotun A/S (Norway), Hempel A/S (Denmark), Kansai Paints Co., Ltd (Japan), KCC Corporation (South Korea), RPM International Inc. (U.S.), and Tikkurila OYJ (Finland) are profiled in this report.
Recently, in April 2016, Axalta Coating launched a new heat resistant coating product, named, AquaEC, an e-coat product to cater the increasing demand for coatings in automotive industrial paint application in the Chinese market. Similarly, in May 2015, AkzoNobel launched a new product for fire protection, named, Chartek, the product is primarily used in the offshore oil & gas industry.
Likewise, in May 2016, AkzoNobel expanded its coating plant capacity in Indonesia by 40%. This production capacity expansion enabled the company to cater to the growing domestic demand of marine and protective coating products. In December 2015, the company invested USD 10 million to open a new R&D center in Ohio, U.S. This will increase the business of performance coating including coil, extrusion, and packaging coatings.
Heat Resistant Coating Market by Resin Type (Silicone, Epoxy, Acrylic, Polyester, Modified Resins), Technology, Application (Automotive & Transportation, Industrial, Consumer Goods, Building & Construction ) and by Regions - Global Forecast to 2021
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