DUBLIN, September 20, 2021--(BUSINESS WIRE)--The "Gelcoat Market Size, Share & Analysis, By Resin Type (Polyester, Vinyl Ester, Epoxy, and Others), By Application Technique (Brush or Roller, Spray Gun, and Others), By Industry Vertical, and By Region, Forecast To 2028" report has been added to ResearchAndMarkets.com's offering.
The global gelcoat market size is expected to reach USD 1,340.3 Million in 2028, and register a CAGR of 12.5% during the forecast period. Increasing consumption of gelcoat as surface coating for fiberglass parts of boats, restaurant seats, bathtubs, etc. and growing demand for the product due to its aesthetic appearance and protection of underlying laminated structure are major factors expected to drive market growth to significant extent.
Gelcoats are less expensive than marine paints, exceptionally resistant to cracking and peeling, and are chemically stable, making it durable, hence these products are highly preferred in marine industry. In automotive industry, gelcoats are applied on automobile components to make it lightweight, thus, increase fuel efficiency of the vehicle. Gelcoats offer resistance to water, osmosis, chemicals, UV-rays, and damages.
Shifting preference for use of closed molding process over open molding process is expected to have a negative impact on adoption of gelcoat, and lowering adoption of polymeric top coating (PTC) for application on wind turbines are major factors that could hamper market growth. In addition, stringent government regulations concerning use of gelcoats and environment safety could hamper market growth.
Increasing number of applications in various industries such as wind, construction, navy, as well as transportation is a key factor driving market revenue growth.
Market Size - USD 994.9 Million in 2020
Market Growth - CAGR of 12.5%
Market Trends - Rising investment in R&D and advanced technologies by major players
Key Report Findings:
Among the resin type segments, the polyester resins segment accounted for the largest revenue share in 2020. The epoxy resins segment is expected to register the highest revenue growth rate during the forecast period.
Among the industry vertical segments, the marine segment accounted for the largest revenue share in the global market in 2020. The automotive industry segment is expected to register the highest revenue growth rate during the forecast period.
The Asia Pacific market accounted for substantially high revenue share in the global market in 2020, and is expected to register the highest revenue growth rate during the forecast period.
Companies profiled in the market report include Bang and Bonsomer, Synergys Technologies, Alpha Owens-Corning (AOC) Resins, Ashland, Nuplex Industries Ltd., HK Research, CCP Composites, Reichhold LLC, Axson Technologies, Fibre Glass Development Corporation, Scott Bader. Ashland Inc., HK Research Corporation, BUFA GmbH & Co. KG, Polynt S.p.A, Nuplex Industries Ltd., Reichhold LLC, and Scott Bader Company Limited. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Gelcoat Market Segmentation & Impact Analysis
4.1. Gelcoat Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Growing demand from marine, wind energy, and transportation industries
188.8.131.52. Rising innovations in coating industry
4.2.3. Market restraints analysis
184.108.40.206. Stringent regulations
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Chapter 5. Gelcoat Market By Resin Type Insights & Trends
Chapter 6. Gelcoat Market By Application Techniques Insights & Trends
Chapter 7. Gelcoat Market By Industry Vertical Insights & Trends
Chapter 8. Gelcoat Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Bang and Bonsomer
Alpha Owens-Corning (AOC) Resins
Nuplex Industries Ltd.
Fibre Glass Development Corporation
Scott Bader. Ashland Inc.
HK Research Corporation
BUFA GmbH & Co. KG
Nuplex Industries Ltd.
Scott Bader Company Limited
For more information about this report visit https://www.researchandmarkets.com/r/lajjjl
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