Insulation Coating Materials Market

AkzoNobel (Netherlands) and PPG Industries (US) are the Leading Players in the Insulation Coating Market

The market size for insulation coating materials is projected to grow from USD 8.7 billion in 2018 to USD 12.5 billion by 2023, at a CAGR of 7.5% during the forecast period. The major driving factor for the insulation coating materials market is the need for energy saving; the ability to prevent corrosion and increasingly stringent policies at the workplace are also driving the insulation coating market.

The leading players in the insulation coating materials market are AkzoNobel (Netherlands), PPG Industries (US), The Sherwin-Williams Company (US), Kansai Paint CO., LTD. (Japan), Jotun Group (Norway), Nippon Paint (Japan), and Mascoat (US). These players adopted expansions, new product developments, and acquisitions as their key growth strategies from 2013 to 2018, which helped them increase their capacities and cater to the widening customer base.

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AkzoNobel (Netherlands) adopted the strategy of expansion to meet the rising demand from the domestic and international markets. The company, in July 2018, opened a new coatings facility in Kenya with warehousing for the companys marine, protective, and powder coatings. This expansion will act as a gateway for the company to the whole of East Africa. In February 2018, the company inaugurated a new facility for the production of powder coatings in Mumbai (India). This new facility will further bolster the companys presence in the growing market.

PPG Industries, in July 2017, acquired the Crown Group, a US-based coatings application services business, from High Road Capital Partners and Charter Oak Capital Partners. This acquisition will enhance PPG’s ability to cater to its customers, including OEM. In January 2017, PPG acquired the Emerging Europe Accession Fund (EEAF) of DEUTEK S.A., a leading paint and architectural coatings manufacturer in Romania. The acquisition will help the company add the fastest-growing paint brands in Romania in its product portfolio.

The Sherwin-Williams Company, in June 2017, acquired the Valspar Corporation (US). According to Valspar, shareholders received USD 113 per share in cash. This has helped Sherwin-Williams strengthen its brand portfolio and expand its product range and global footprint.

Related Reports:

Insulation Coating Market by Type (Acrylics, Epoxy, Polyurethane, YSZ, Mullite, and Others), End-Use Industry (Aerospace, Automotive & Transportation, Industrial, Marine, Buildings & Construction and Others), & by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Global Trends & Forecasts to 2021

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Report Code
CH 4398
RI Published ON
1/23/2019
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