Asia-Pacific Increasing Dominance in Heat Reflective Paints & Coatings Market
Heat Reflective Paints & Coatings Market will witness a CAGR of 6.5% to reach $26.07 billion by 2022
Bangalore, India, January 8, 2018 (Newswire.com) - With its recently published study “Heat Reflective Paints & Coatings Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022”, Infoholic Research forecasts that the global market for heat reflective paints & coatings will continue to increase, owing to the increased exposure of different end-user areas such as residential and commercial infrastructure, automotive etc., in the global economy. These are the paints & coatings that reflect most part of the sunlight (both visible and invisible), thus reducing energy absorption by surface. Once applied on the exterior surface of the structure, it reduces the energy emittance towards the inside of the structure. Thus, for any building or structure, the air-conditioning load for maintaining the ambient temperature also reduces. This indirect way of reducing the energy load and controlling the emission is being supported by many governments, globally. This trend is expected to continue during the forecast period 2016–2022, fueling the growth of the market at a CAGR of 6.5%, touching $26.07 billion by the end of 2022.
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The key materials which contribute toward heat reflection are the pigments and additives like microspheres. Innovation in materials is bringing down the global prices. Solvent-based paints & coatings are majorly dominating the market, while water-borne coatings are gaining higher growth on the back of volatile organic compounds (VOCs) control. The increasing modernization in the economy is fueling the infrastructure and automotive demand, where heat reflective paints & coatings act as an important component paving the way for growth.
Regionally, Asia-Pacific dominates the global heat reflective paints & coatings market, with the major share coming from China. The developed economies are following suit with a close gap among each other, while the North American market is expecting a slightly higher growth than Europe. The increasing market penetration in developing countries is also expected to push the potential of the global market, boosting market revenues.
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“Heat reflective paints & coatings have come a long way from being considered as premium products, offering additional benefits and complying with the regulatory framework in certain geographies. The environmental advantages along with increasing affordability boosts the market growth. The market, which was once dominated by developed countries is now ruled by developing countries such as China. This indicates that the domestic market is still going strong and offers immense potential. The market is still in its growth stage and we should expect a high growth in the next five to six years,” stated Khushboo Pandey, Research Analyst, Infoholic Research.
Key insights of the Report include:
· Types of heat reflective paints & coatings:
o Solvent-based Paints & Coatings
o Water-based Paints & Coatings
· Key end-user areas:
o Residential & Commercial Infrastructure
o Industrial Infrastructure & Equipment’s
· Geographical segmentation:
o North America
o Rest of the World
· Industry outlook: Market trends, drivers, restraints, and opportunities
About Infoholic Research: Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche markets in ICT, Chemicals & Materials, and Healthcare domain. Founded in 2014, we are headquartered in Bangalore, India with an office in the US and consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies. For more information, please visit www.infoholicresearch.com
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