Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 9 Billion | USD 13.75 Billion | 5.85% | 2021 |
FrequentlyAsked Questions
The global insulating paints and coatings market is projected to grow owing to the ability of the materials to provide excellent protection against corrosion, which is one of the most commonly occurring problems in chemicals, oil & gas, and building & construction industries.
According to study, the global insulating paints and coatings market size was worth around USD 9 billion in 2021 and is predicted to grow to around USD 13.75 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5.85% between 2022 and 2028.
The global insulating paints and coatings market is anticipated to witness the highest CAGR in Asia-Pacific owing to the rapid urbanization and infrastructural development in regions like India, Japan, China, and Singapore. The regional governments have increased budgets and spending on the maintenance of corrosion-prone sites.
The global insulating paints and coatings market is dominated by players like PPG, General Coatings Manufacturer Corp, Nippon Paints, Henry Company, Axalta Coating System, and others.
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