The global market for foam coating should grow from $20.5 billion in 2018 to $29.3 billion by 2023 at a compound annual growth rate (CAGR) of 7.4% for the period of 2018-2023.
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The foam-coating market is segmented into the follow categories –
– By technology type: powder-based, solvent-based and water-based foam coatings.
– By resin type: acrylic, polyurethane, epoxy, alkyl and polyester-based foam coatings.
– By Industry: building and construction, oil and gas, aerospace, automotive, military and other application.
– By region: North America is segmented into U.S., Canada and Mexico; Europe is segmented into U.K., Germany, France, Russia and Rest of Europe; Asia-Pacific (APAC) is segmented into Japan, India, China and Rest of Asia-Pacific; and the Rest of the World (ROW) covers Latin America, Middle East and Africa.
– Estimated values used are based on manufacturers’ total volume. Projected and forecasted values are in constant units, unadjusted for inflation.
In addition to industry and competitive analysis of the foam-coating market, this report also includes a patent analysis and a listing of company profiles for key players in the foam-coating market.
– 77 data tables and 56 additional tables
– An overview of the global markets for foam coating
– Analyses of global market trends, with data from 2017, 2018, and projections of CAGRs through 2023
– Discussion about increasing application of foam coating in construction industries
– Insights into government regulations related to green environment
– Detailed profiles of the major players in the global foam coating market, including Axalta Coating System LLC, BASF SE, Innovative Chemical Products (ICP) Group, Shawcor Ltd., Tnemec Co. Inc., and Yenkin-Majestic Paint Corp.
Foam coatings include PVC, latex, vinyl, acrylics, conductive carbon and activated carbon. One example of a foam-coating product is QUIKRETE, which is a fiber-reinforced, polymer-modified Portland cementbased rigid coating. QUIKRETE is used mainly in the manufacture of foam shapes, insulated concrete form systems and rigid insulation panels. This product is designed for use as a rigid coating for insulation panels and polystyrene wall forms, and in the construction of fence partitions. Foam coatings have numerous applications across industries including industrial manufacturing, aerospace, automotive, construction, industrial maintenance and military.
Among the types of resins, polyurethane foam holds the largest market share, due to its widespread use in the construction sector. Increasing construction activity in developing countries creates a high growth opportunity for the global polyurethane foam market. Due to its durability, strength, and light weight, it is used widely to insulate and protect the external fuel tank of the space shuttle. The 1” layer of foam helps to keep 395,000 gallons of liquid hydrogen at a very cool -423°F. Moving forward, polyurethane is used widely in the construction sector as an insulator. It is also used in the manufacture of mattresses, ice chests, cushions, coffee mugs and commercial roof systems. Polyurethane products are manufactured using either flexible or rigid foam types. Flexible foams are used primarily in the production of padding for domestic and commercial furniture. Rigid foams have high insulative properties, and are used inside the plastic and metal walls of most freezers and refrigerators, and for thermal insulation panels used in construction. Wide application of polyurethane foam in various enduser industries fuels market growth over the forecast period.
Polyester resin holds the second largest market share in the global foam-coating market, followed by epoxy resin and alkyl resin. Polyester resin has various nonindustrial and industrial applications. Due to its light weight, weather resistance and strength, polyester resin is used to produce Fiberglass Reinforced Plastic (FRP), which is used in the manufacture of kitchen, restroom and restaurant products. Industrial applications of polyester resin include bulk-molding compounds, steel molding compounds and resin casting. Designer, engineer, builder and architect value polyester resin for its light weight and strength will drive market demand during the forecast period.
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Acrylic resin foams are expected to see the fastest market growth, growing at a CAGR (compound annual growth rate) of REDACTED during the forecast period of 2018 to 2023. Acrylic resins feature outstanding durability and transparency, and are used in various applications ranging from consumer items to industrial products. Acrylic resins are an ingredient in latex paints, and give those paints properties of greater water resistance, better stain protection, greater resistance to blistering and cracking, better adhesion, and resistance to alkali cleansers. Acrylic resins are used increasingly in medical devices, automotive parts, construction, sealants, adhesives, paints and coatings. High demand
for acrylic resins in the sectors described in this report creates a high market growth opportunity in the forecast period.
Epoxy resin is anticipated to be the second fastest growing market, showing a CAGR of REDACTED during the projection period of 2018 to 2023. Epoxy resins are used widely in electronic materials, coatings and adhesives due to its excellent mechanical properties, good heat resistance, high adhesion strength and high electrical resistance. Epoxy resins are an integral part of the electronics industry and are used extensively in integrated circuits, overmolding transistors, hybrid circuits and PCBs (printed circuitboards). Epoxy is also known for its corrosion-resistance and environmental friendliness. These properties create high demand for epoxy resins in industrial sectors worldwide, and demand is expected
to continue over the forecast period.