HIGH TEMPERATURE COATINGS MARKET ANALYSIS

High Temperature Coatings MarketSize and Trends

High Temperature coatings or HTCs are used to protect the systems which subjected to high temperature conditions on a regular basis. They are designed to withstand temperatures from 150^OC to 800^OC. The use of HTCs helps in reducing heat losses, keep corrosion under insulation (CUI) in check, reduce thermal fatigue and maintain efficiency. CUI is the petrochemical industry’s worst complication. It occurs when moisture seeps into the insulation and the high temperature condition is optimal for corrosion. The application of HTCs helps keep the effect of moisture to a minimum and subsequently translates into energy and cost savings.

Market Trends

Low consumer awareness in medium and small scale industries about high temperature corrosion risks is a major challenge for market players. Moreover, raw material availability is dependent upon the oil industry.

High Temperature Coatings Market Outlook

• Asia Pacific is the fastest growing and the largest market for high temperature coatings. The petrochemical industry has a marked shift from North America to India and China, due to low cost of labor and close proximity to major oil producing Middle East nations. Furthermore, energy, cookware and automobile markets have also grown due to population boom. This has driven demand for HTCs.
• North America has augmented HTC market growth, due to growing energy, automobile, electronics and construction sector. Increased shale gas production has driven growth the petrochemical industry as well. High thermal efficiency in chemical processing can help the manufacturers in this region to compete with low-cost products made in Asia. Europe is expected to lose its market share during forecast period due to decline of end-user industries.
• In Latin America, the growth of HTC market can be attributed to the energy and automotive industry. Brazil is expected to strongly drive growth in both E&P and refining. Political uncertainties and regulatory complications are hindering growth in other countries of the region.
• Middle East and North Africa are consolidated regions for oil and gas and petrochemicals. A return to political stability of Iraq, Syria, and Iran are having crucial advantage in the growth of the HTC market.