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LAMEA Thermal Insulation Coating Market Size, Share & Trends Analysis Report By Product (Acrylic, Polyurethanes, Epoxy, Yttria-Stabilized Zirconia (YSZ), and Other Products), By Application, By Country and Growth Forecast, 2024 - 2031

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    Report

  • 138 Pages
  • November 2024
  • Region: Africa, Middle East
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 6032903
The Latin America, Middle East and Africa Thermal Insulation Coating Market is expected to witness market growth of 8.2% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 325.09 kilo tonnes, showcasing a growth of 6.8% (2024-2031).

YSZ coatings, known for their high thermal resistance and stability at elevated temperatures, are essential in aerospace and high-temperature industrial applications. The aerospace industry, aiming to optimize engine performance and fuel efficiency, increasingly relies on YSZ coatings for turbine and exhaust systems. Demand for these coatings is bolstered by the need for lighter, high-performance insulation materials that can handle extreme thermal stress. Consequently, in Argentina, 0.61 kilo tonnes of YSZ thermal coatings are expected to be utilized by the year 2031.



The Brazil market dominated the LAMEA Thermal Insulation Coating Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $304.8 million by 2031. The Argentina market is registering a CAGR of 9% during 2024-2031. Additionally, the UAE market would witness a CAGR of 7.3% during 2024-2031.

The increase in extreme weather events, such as hurricanes, floods, and wildfires, is also leading to more investments in resilient infrastructure. Thermal insulation coatings, which help buildings and industrial facilities better withstand temperature extremes, are increasingly seen as a component of climate-resilient designs.

Despite the many benefits, there are challenges to the widespread adoption of thermal insulation coatings. One of the key challenges is the high initial cost of application, which can be a barrier for small and medium-sized enterprises (SMEs) or businesses operating on tight budgets. Additionally, the complexity of applying some types of coatings, especially those that require specialized equipment or trained personnel, can deter some companies from adopting these solutions. However, as the market for thermal insulation coatings continues to expand, manufacturers are working on developing cost-effective solutions that are easier to apply and maintain, making them more accessible to a wider range of industries.

The UAE is a leader in industrial innovation in the Middle East, with rapid growth in sectors such as oil and gas, construction, and manufacturing. The country is prioritizing energy efficiency as part of its broader sustainability goals, driven by the UAE Vision 2021 and the UAE Green Growth Strategy. Thermal insulation coatings are increasingly being adopted in industries such as oil refining and petrochemical manufacturing to reduce energy loss during processing. These coatings also play a key role in maintaining the temperature of pipelines and tanks, which is critical for optimizing energy use in such energy-intensive sectors.

In addition, the UAE’s government-backed initiatives, including the "Energy Strategy 2050," aim to enhance energy efficiency across industries, providing a strong foundation for the growth of the thermal insulation coating market. The role of industry associations like the Emirates Authority for Standardization and Metrology (ESMA) in promoting energy-efficient technologies also contributes to the growing demand for thermal coatings. Thus, the region will continue to expand throughout the forecast period.

List of Key Companies Profiled

  • Evonik Industries AG
  • Cabot Corporation
  • The Dow Chemical Company
  • Nippon Paint Holdings Co., Ltd.
  • Akzo Nobel N.V.
  • PPG Industries, Inc.
  • The Sherwin-Williams Company
  • Kansai Paint Co., Ltd.
  • Sika AG
  • BASF SE

Market Report Segmentation

By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)

  • Acrylic
  • Polyurethanes
  • Epoxy
  • Yttria-Stabilized Zirconia (YSZ)
  • Other Products

By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)

  • Manufacturing
  • Building & Construction
  • Automotive & Transportation
  • Aerospace & Defense
  • Other Applications

By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)

  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Thermal Insulation Coating Market, by Product
1.4.2 LAMEA Thermal Insulation Coating Market, by Application
1.4.3 LAMEA Thermal Insulation Coating Market, by Country
1.5 Methodology for the Research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. LAMEA Thermal Insulation Coating Market by Product
4.1 LAMEA Acrylic Market by Country
4.2 LAMEA Polyurethanes Market by Country
4.3 LAMEA Epoxy Market by Country
4.4 LAMEA Yttria-Stabilized Zirconia (YSZ) Market by Country
4.5 LAMEA Other Products Market by Country
Chapter 5. LAMEA Thermal Insulation Coating Market by Application
5.1 LAMEA Manufacturing Market by Country
5.2 LAMEA Building & Construction Market by Country
5.3 LAMEA Automotive & Transportation Market by Country
5.4 LAMEA Aerospace & Defense Market by Country
5.5 LAMEA Other Applications Market by Country
Chapter 6. LAMEA Thermal Insulation Coating Market by Country
6.1 Brazil Thermal Insulation Coating Market
6.1.1 Brazil Thermal Insulation Coating Market by Product
6.1.2 Brazil Thermal Insulation Coating Market by Application
6.2 Argentina Thermal Insulation Coating Market
6.2.1 Argentina Thermal Insulation Coating Market by Product
6.2.2 Argentina Thermal Insulation Coating Market by Application
6.3 UAE Thermal Insulation Coating Market
6.3.1 UAE Thermal Insulation Coating Market by Product
6.3.2 UAE Thermal Insulation Coating Market by Application
6.4 Saudi Arabia Thermal Insulation Coating Market
6.4.1 Saudi Arabia Thermal Insulation Coating Market by Product
6.4.2 Saudi Arabia Thermal Insulation Coating Market by Application
6.5 South Africa Thermal Insulation Coating Market
6.5.1 South Africa Thermal Insulation Coating Market by Product
6.5.2 South Africa Thermal Insulation Coating Market by Application
6.6 Nigeria Thermal Insulation Coating Market
6.6.1 Nigeria Thermal Insulation Coating Market by Product
6.6.2 Nigeria Thermal Insulation Coating Market by Application
6.7 Rest of LAMEA Thermal Insulation Coating Market
6.7.1 Rest of LAMEA Thermal Insulation Coating Market by Product
6.7.2 Rest of LAMEA Thermal Insulation Coating Market by Application
Chapter 7. Company Profiles
7.1 Evonik Industries AG (RAG-Stiftung)
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 SWOT Analysis
7.2 Cabot Corporation
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.3 The Dow Chemical Company
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 SWOT Analysis
7.4 Nippon Paint Holdings Co., Ltd.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.1 SWOT Analysis
7.5 Akzo Nobel N.V.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 SWOT Analysis
7.6 PPG Industries, Inc.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expense
7.6.5 SWOT Analysis
7.7 The Sherwin-Williams Company
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental Analysis
7.7.4 Research & Development Expenses
7.7.5 SWOT Analysis
7.8 Kansai Paint Co., Ltd.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Regional Analysis
7.8.4 Research & Development Expenses
7.8.5 SWOT Analysis
7.9 Sika AG
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expenses
7.9.5 SWOT Analysis
7.10. BASF SE
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
7.10.5 SWOT Analysis

Companies Mentioned

  • Evonik Industries AG
  • Cabot Corporation
  • The Dow Chemical Company
  • Nippon Paint Holdings Co., Ltd.
  • Akzo Nobel N.V.
  • PPG Industries, Inc.
  • The Sherwin-Williams Company
  • Kansai Paint Co., Ltd.
  • Sika AG
  • BASF SE

Methodology

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