Energy Efficient Coatings Market 2020 | Top Key Players - AkzoNobel, BASG, PPG, IGP, Berger Paints, Kansai Paints, TCI

Coatings that complement energy efficiency are an attractive payback as energy renovation and high-performance buildings construction are projected to reduce the energy use of the sector by around 30% by 2050, while floor areas become two-fold. In the latest research report compiled by Global Market Insights, Inc., energy efficient coatings market size is poised to expand steadily by 2026.

Residential and commercial buildings have been responsible for about 30% of final energy consumption and over 55% of global electricity consumption. At the time when energy efficiency is at the heart of global push for a sustainable and an inclusive growth, energy efficient coatings have become one of the most effective ways to minimize environmental footprints and boost welfare and competitiveness.

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Here are some of the compelling industry dynamics that can have an overarching impact on the energy efficient coatings business outlook:

Trends: Development of nanotechnological additives

A dramatic pickup in the efficiency is slated to be achieved through the development of nanotechnological additives to enhance the thermal quality of the buildings. Application of coatings meant for the exterior of part of the envelope with a high thermal emissivity and solar reflectivity is said to dip buildings’ cooling load.

Use of nanotechnological additives has gained prominence to boost the thermal performance of the interior and exterior coatings. It is worth noting that ceramic, phase change, and glass have already been used to develop coatings of either high solar reflectance, lower thermal conductivity or high thermal capacity.

Nanotechnology is being used in wall coatings to deploy additives that are waterproof, insulating, and are self-cleaning agents. Nanotechnology is said to have the real innovation and a push to boost energy efficiency in coatings.

Growth drivers: Traction for acrylic

Building owners are placing green building and environmental sustainability attributes high on their priority list. Acrylic coatings have come up as an economical solution for roof protection and restoration for they provide upsides galore, including reflectivity, durability, ease of application, and cost effectiveness.

Acrylic coating has been gaining traction as an eco-friendly and green method used for coating asphalt roofs, metal roofs, concrete roofs, and historic roofing restoration. This energy efficient coating is being preferred over the use of conventional solvent-borne coatings. Increased traction for acrylic coatings is poised to boost energy efficient coatings industry outlook.

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Opportunities in energy efficient coatings
According to an IEA report, procrastinating high-performance construction and renovation by a decade would lead to over 3,500 Mtoe of additional energy use in buildings and over 2 gigatons of additional CO2 emissions. Accordingly, a quantum leap in the use of energy efficient coatings in construction industry is being witnessed.

In what has come as a major boost is the infusion of funds of around US$74 million from Department of Energy in building and construction technologies and innovations. Favorable initiatives undertaken by governments in the U.S. have augured well for the stakeholders eyeing to expand their portfolios.

Stakeholders are also expected to inject funds in APAC where countries such as China and India have become investment hubs following strong demand for energy efficient coatings such as epoxy and acrylic, among others.

Some of the restraints

High upfront cost may come up as a challenge, and the rampant COVID-19 pandemic has taken the toll on the industry.

With stakeholders striving to put a laser-like emphasis on curbing global emissions, trend for energy efficient coatings will continue to ascend, thereby bringing a lucrative payback for the manufacturers.

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