Global Gelcoat Market is valued approximately at USD 872 million in 2019 and is anticipated to grow with a healthy growth rate of more than 13.2% over the forecast period 2020-2027. Gelcoat are materials utilized to facilitate a higher quality finish on the visible surface of a fiber-reinforced composite. The conventional gel coats are thermosetting polymers based on epoxy and unsaturated polyester resin chemistry. These coats are applied to molds in a liquid state and offer numerous properties such as water absorption, UV degradation, and corrosion resistance. The Gelcoat market is driven by the rise in demand for high-performance composite materials across the globe. Application of these gelcoats in automobiles to reduce weight and enhance the fuel efficiency of vehicles such as railways, buses and autos propel the demand for gelcoats. For Instance: The latest standard set by the EU in 2015 specifically stated the target as the diesel vehicles for considerable NOx reduction. Euro VI limits for heavy-duty vehicles were announced in Regulation 595/2009, and were revised by Regulations 582/2011 and 133/2014. The Euro 6 limits for light-duty vehicles came prior and were presented along with Euro 5 limits under Regulation 715/2007, promulgated in 2007. Also, these coats are widely used in the marine industry as ships and recreational boats are typically made using glass fiber which needs these coating on ships hulls, decks and powerboats. Thus, the mounting marine industry also fuels market growth. As per the UNCTAD Maritime Transport outlook 2018, maritime trade expanded by 4% in 2017. However, transition towards closed molding process impedes the growth of the market over the forecast period of 2020-2027. Although, new areas of application for example use of gel coats in the Wind energy sector to coat wind blades presents a lucrative opportunity for the market.
The regional analysis of global Gelcoat market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the well established transportation sector and marine industry in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income and rising adoption of light weight and fuel efficient automobiles would create lucrative growth prospects for the Gelcoat market across Asia-Pacific region.
Major market player included in this report are:
HK Research Corporation
Scott Bader
Ineos
Bufa Composite Systems Gmbh
Allnex
Alpha Owens Corning
Polynt Reichold
Turkuaz Polyester
Poliya Composites Resins and Polymers
Interplastic Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Resin Type:
Polyester
Vinyl Ester
Epoxy
Others
By End-use Industry:
Marine
Transportation
Wind-Energy
Construction
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year-2017, 2018
Base year-2019
Forecast period-2020 to 2027
Target Audience of the Global Gelcoat Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
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