"The influential Gelcoat Market Report provides a list of key competitors, strategic industry analysis, and insights into key factors influencing the Gelcoat Market industry. The market analysis and insights included in this market research report offer key statistics on the market status of global and regional manufacturers and are an important source of guidance that provides sound direction for companies and individuals interested in the industry. The first-class Gelcoat s Market Report also includes all the data covering market definition, classification, application, involvement, market drivers, and market restrictions obtained with the help of SWOT analysis.
The Gelcoat s Market research report covers a methodical investigation of the current global market scenario, encompassing several market dynamics. This report provides the fluctuation of CAGR value during the forecast period of 2023-2030 for the market. The study and analysis carried out in this business report also helps to know the type of consumers, their views about the product, their purchasing intentions, and their ideas for the progress of a product. This report helps businesses know their market share over various time periods, transportation, storage, and supply needs of their products. Persuasive Gelcoat Market analysis reports provide useful insights that help while launching new products.
Data Bridge Market Research analyses that the gelcoat market is expected to undergo a CAGR of 8.80% during the forecast period. This indicates that the market value, USD 1,403.80 million in 2022, would rocket up to USD 2,756.37 million by 2030.
Explore Further Details about This Research Gelcoat Market Report https://www.databridgemarketresearch.com/reports/global-gelcoat-market
Gelcoat Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 to 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to (2015 - 2020) |
Quantitative Units | Revenue in USD Million, Volumes in Units, Pricing in USD |
Segments Covered | Product Type (Standard Gelcoat and Specialty Gelcoat), Resin (Polyester, Vinyl Ester, Epoxy, and Others), Application Method (Spray, Brush, and Roller), End User (Construction and architecture, Healthcare and medical, Hospitality, Retail, Automotive and transportation, Food and Beverages, Electrical and Electronics, Sanitary Ware) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered | Akzo Nobel N.V. (Netherlands), Ashland Inc. (U.S.), LyondellBasell Industries Holdings B.V (Netherlands), 3M (U.S.), Sika AG (Switzerland), Bang Bonsomer (Finland), Sino Polymer Co. Ltd. (China), Eastman Chemical Company (U.S.), Hexion (U.S.), Huntsman International LLC (U.S.), BASF SE(Germany), Aditya Birla Group Chemicals (India), Ashland (U.S.), Reichhold LLC (U.S.) Scott Bader Company Limited (U.K.), Atul Ltd (India), New Japan Chemical Co. Ltd. (Japan), Kukdo Chemicals Co. Ltd. (South Korea), Anhui Xinyuan Chemical Co. Ltd.(China), SIR Industriale (Italy), LANXESS (U.S.) |
Market Opportunities |
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Market Definition
Gelcoat is a material that offers a high-quality finish on the surface of a fiber-reinforced composite. The most common gel coats are thermosetting polymers based on unsaturated polyester or epoxy resin. Gelcoats are advanced resins that are applied to molds in the liquid state. Gelcoat provides unique characteristics and properties such as resistance against water absorption, corrosion, U.V. degradation, blister, and crack. Gelcoat can be applied in spray and brush form so that proper thickness can be laminated on the composite material to avoid damage.
Global Gelcoat Market Dynamics
Drivers
- Growing demand for gelcoat in the automotive and transportation sector
Rising demand for gelcoat from the transportation and automotive industry will likely drive the market's growth rate. The automotive and transportation sector cove the major share in the gelcoat market. To comply with government guidelines and increase vehicle fuel efficiency, automakers are focusing on manufacturing lightweight vehicles with composites to reduce carbon dioxide (co2) emissions, which adversely impact the global climate. Gelcoats are used to enhance and maintain the aesthetic appeal of these composite components.
- High usage of polyester gelcoat
Polyester gelcoats have widespread usage across several sectors due to the higher demand in transportation and marine industries. Polyester resin gelcoats have widespread usage in the marine industry because of their unique features and properties, such as water absorption, U.V. degradation and corrosion resistance. Thus, increasing demand for polyester gelcoats eventually drives the market's growth rate.
- The rise in demand for gelcoat in the construction industry
The construction industry is anticipated to grow significantly during the forecast period of 2023-2030. In shelter works use gelcoat to manufacture buildings and deliver protective barriers that add visual appeal, increase the building's life and provide less maintenance and long-lasting durability. The surging demand for gelcoats in the construction industry will likely boost market growth.
Opportunities
- Rising demand for gelcoat in wind energy and aerospace industries
Numerous aerospace and wind energy retailers are progressively demanding gelcoats for better resistance to U.V. rays and fire. These are the major factors that determine the quality and life of the product. As a result of this, manufacturers are investing significantly in the development of the gelcoats market. Gelcoat efficiently decreases the chances of damage to the coated component to prevent U.V. radiation and accidental fires and offers better durability to the product. With the remarkable growth of these end-use sectors globally, the market for gelcoats is expected to perform exceptionally well in the upcoming period.
Key questions answered in the Gelcoat Market are:
- What is Gelcoat Market?
- What was the Gelcoat Market size in 2022?
- What are the different segments of the Gelcoat Market?
- What growth strategies are the players considering to increase their presence in Gelcoat Market?
- What are the upcoming industry applications and trends for the Gelcoat Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Gelcoat Market?
- What major challenges could the Gelcoat Market face in the future?
- What segments are covered in the Gelcoat Market?
- Who are the leading companies and what are their portfolios in Gelcoat Market?
- What segments are covered in the Gelcoat Market?
- Who are the key players in the Gelcoat Market?
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