Demand in Asia-Pacific Spurs Growth in Insulation Coatings Market
DUBLIN – Research and Markets has released a new report on the global market for insulation coatings. According to the study, the market for insulation coatings was $9.8 billion in 2019 and is projected to reach $11.3 billion by 2025, registering a compound annual growth rate (CAGR) of 5.8% between 2020 and 2025.
The study reports that acrylic-based insulation coatings account for the largest share in the overall insulation coatings market. Acrylic-based insulation coatings are a good replacement for traditional insulation materials and are used because of their ease of maintenance and ability to prevent CUI.