Asia Pacific Increasing Dominance in Heat Reflective Paints & Coatings
Bangalore, India: 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 & 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 toward the inside. 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 across the globe. This trend is expected to continue during the forecast period 2016–2022, to further improve the heat reflective paints & coatings market at a CAGR of 6.5%, and take it to $26.07 billion by 2022.
The key materials which contribute toward heat reflection are the pigments and additives like microspheres. Innovation in materials is bringing down the prices across the globe. Solvent-based paints & coatings are the majority dominating the market while waterborne coatings are gaining higher growth on 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 are creating their path.
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Regionally, Asia Pacific dominates the global heat reflective paints & coatings market with the biggest contribution coming from the Chinese market. The developed economies are following with a close gap among each other, while the North American market has expecting slightly higher growth than Europe. The increasing market penetration in developing countries is also expected to push the global market potential giving boost to the market revenue growth.
“Heat reflective paints & coatings have come a long way from being considered as premium products to added advantages and even regulatory compliance in some geographies. The environmental advantages along with the increasing affordability boosts the market. The market once dominated by developed countries is now ruled by developing countries like China, wherein the domestic market is still strong and offers a high potential. The market is still in the growth stage and we should expect a high growth in the next five to six years.” – Khushboo Pandey, Research Analyst, Infoholic Research.
Buy complete report on Heat Reflective Paints & Coatings Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022
The key insights of the report are as follows:
- Global heat reflective paints & coatings market has been analyzed based on the following types:
- Solvent-based Paints & Coatings
- Water-based Paints & Coatings
- The study constitutes a classification based on the end-user areas:
- Residential & Commercial Infrastructure
- Industrial Infrastructure & Equipment’s
- The study covers following geographies:
- Asia Pacific
- North America
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities