Gelcoat Market Overview:
The Global Gelcoat Market was valued at USD 1.1 billion in 2018 and is expected to grow at a CAGR of 7.6% during the forecast period.
Gelcoat are developed materials and produced as in-mold surface coatings used for protecting substrate from diverse conditions. These materials are coated to provide aesthetic look for the fibre reinforced materials. It is available both in brush and spray form so that gelcoat can easily be laminated and is not susceptible to any damage. Gelcoat provides following properties as such UV degradation, resistant to corrosion and water absorption.
Gelcoat Market Synopsis:
Gelcoats are widely used in producing marine products such as decks, ship hulls, motor yachts and power boats which need protective coatings to witnessed impact of water tides. Rise in demand for trading and increase in spending of high-class people in boats for leisure has pushed the growth of marine industry along with rise in demand for gelcoat. Vinyl ester resin holds as comparative growth rate owing to use in marine industry in North America.
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Gelcoat Market is up surging with the demand from the emerging countries and rapid increase in applications. The choice of isophthalic acid-based resins results in increased water retention and blister resistance by gelcoats. The demand for durable and reduced styrene emission gelcoats globally is expected to provide impetus to the growth of this market. With the developments in marine and wind industries in the growing economies, the gelcoat market is expected to grow at a fast pace.
Gelcoat Market Key Players:
Key players of the global high Gelcoat market are HK Research Corporation (U.S.), Ashland Inc. (U.S.), Bufa Composite Systems GmbH & Co. KG. (Germany), Interplastic Corporation (U.S.), Scott Bader Company Limited (U.K.), Polynt S.p.A (Europe), Reichhold LLC (U.S.), Synergys Technologies (France), Fibre Glass Development Corporation (U.S), Bang & Bonsomer Group Ab (Europe) and Others.
Gelcoat Market Segmentation:
Gelcoat Market is segmented into construction, wind, marine, transportation, others. Marine dominates the market share in gelcoat market. Gelcoats are highly used in marine applications such as decks, ship hulls, motor yachts and power boats. Growing usage of power boats especially for racing purpose and production of leisure boats has driven the market demand. More companies are looking out for fuel efficient vehicles with light weight composites. Thus, increasing the demand for light weight composites in transportation and leisure vehicles are driving the market demand of gelcoats in coming years. Emerging economies like China and India are focusing more on gelcoats owing to growing population leading to rise in gelcoats in transportation and construction industry.
Gelcoat is segmented as epoxy, polyester, vinyl ester, others. Polyester resins drive the global gelcoat market. Owing to high UV degradation of polyester compared to vinyl ester and epoxy resins, polyester resin is highly preferable in marine and transportation industry. Vinyl ester resins hold good market share owing to growing marine industry in North America. The demand for gelcoats which are durable, water retention and blister resistance has driven the market growth in wind and transportation industry. Further with growing polyester prices across the globe can restrain the market demand over the forecasted period.
Gelcoat Market Regional Analysis:
Geographically, North America dominates the market segment followed by Europe and Asia Pacific. U.S market is largest consumer of gelcoat over the forecasted period. Growing production of speed boats in U.S especially for racing purpose across the globe has increased the need of gelcoat. After recovery from recession companies are focusing more on profits by reducing material composites of high prices. These has boosted the gelcoat market growth in U.S. North America and Europe holds largest market share in polyester and vinyl ester resins gelcoats owing to major player in marine and transportation industries. Asia-Pacific region represents moderate market share in the global gelcoat market. Rise in population drive construction and transportation industry which further drives the gelcoat market in emerging economies.
Gelcoat Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Gelcoat Market
Gelcoat Market Table of Content to be Continue…….,
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