Latin America Insulation Coating Materials Market Report Description:
Latin America market report gives comprehensive outlook on insulation coating materials across the region with special emphasis on key countries such as Brazil, Argentina, Mexico, Chile, and Rest of Latin America. The report on Latin America market gives historical, current, and future market sizes (US$ Mn) on the basis of type and end user. This report studies Latin America market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Latin America market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Latin America market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Latin America market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in Latin America insulation coating materials products.
The Latin America market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Insulation coatings are used in various end user industries such as building & construction, industrial, aerospace, marine, automotive, among others. Increase in demand from various industries, substrate protection and need for insulation coating for energy proficiency are the major aspects promoting the growth of insulation coating material market. The high cost associated with these materials coupled with lower thermal efficiency limits the growth of market.
Rising Construction of New Refineries Augments the Demand for Insulation Coating Materials
Oil and gas refineries make up the foremost segment of the petroleum industry, where industrial fireproofing and resistance to corrosion are indispensable for avoiding expensive equipment damage and facility downtime. Insulation coating materials reduce condensation, helps to enhance corrosion resistance under insulation, and contribute to energy savings. Moreover, the market is benefitting with the expansion plans of current refineries, and the escalating demands during the forecast period. For instance, Indian Oil has set a budget of US$ XX Bn in order to expand its refineries and expand businesses in the near future. This shall also positively impact the expansion of their Panipat and Paradip refineries.
Mexico Leads Latin America Market
Latin America is expected to exhibit a moderate growth in the near future. Mexico leads the regional market due to implementation of sustainable technology in production, surge in demand for insulation coatings market in various end-use industries.
- AkzoNobel (Netherlands)
- PPG Industries (US)
- The Sherwin-Williams Company (US)
- Kansai Paint CO., LTD. (Japan)
- Jotun Group (Norway)
- Nippon Paint (Japan)
- Mascoat (US)
Acquisition, collaboration, new product launch are the various market strategy implemented by key players to create a strong consumer base in the market. Key player’s emphases on organic growth to drive efficiencies of its adhesive business. For instance, in June 2017, The Sherwin-Williams Company acquired Valspar Corporation (US). According to Valspar, shareholders received US$ XX Mn. This has helped the company strengthen its brand portfolio and expand its product range and Latin America footprint.
Key Findings of the Report:
- Latin America Insulation Coating Materials market expanding at significant CAGR over 2019 to 2025 due to adoption of green chemistry in organic synthesis.
- Based on end user, marine segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in Latin America Insulation Coating Materials market
By End User Type
- Building & Construction
- Rest of Latin America
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market