Market World High Temperature Coatings Market | Page 2

Product Insight
The acrylic coating was the largest product segment covering over 20% of total demand in 2015. Aesthetic looks
coupled with high heat resistance property makes it an ideal technology that can be used in building and
transportation infrastructure. Low volatile organic compound (VOC) presence in formulation has led its rapid
adaptation in various industrial activity.
Physical properties of Polyether sulfone (PES) such as adhesiveness, long run thermal stability and transparency
are expected to be responsible for its growth over the forecast period. Owing to these features, the product
usage is found in a broad range of applications including automotive refinishing, wood furniture, construction,
and marine. Global PES high temperature coatings market value is estimated to exceed USD 470 million by 2024.
Compatibility of Epoxy coatings with a broad range of color and solvent free ingredients has contributed to its
demand in 2015. Characteristics such as high durability and chemical resistant are anticipated to be the major
factors for the growth of this segment.
The segment is expected to grow at a CAGR of over 4.0% from 2016 to 2024. Epoxy-based products find
enhanced usage in corrosion resistant applications in automobiles, boats, steel pipes, and transmission pipelines
that are exposed to high temperature environment.
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Technology Insights
The liquid-based technology was the largest technology segment in 2015 which accounted for over 75%. The
industrial trend is shifting towards non-solvent based technologies with the adoption of waterborne and powder
based products in various sectors.
With minimum environmental impact due to low VOC content, surging demand for effective products is
anticipated to drive waterborne high temperature coatings demand over the next eight years.
Strict ecological regulations for using solvent based products have led coating manufacturers to shift focus
towards powder-based products. Powdered coatings are anticipated to be the fastest developing formulation
technology by 2024.