Global Gelcoat Market Projected to Value Over USD 1.9 Billion by 2026 End

  • 12 Jul 2019

Global gelcoat market estimated to value over USD 1.9 billion by 2026 end and record a CAGR of over 7.6% during the forecast period 2019 to 2026.
Gelcoat are special coatings done on surfaces in order to provide protection as well make the product attractive. This exterior coat has distinct properties such as UV protection, water-resistance and durability. To acquire depth according to preference, gel coating can be done either via brush or spray. 

The global gelcoat market is expanding due to the rise in its application in various industries. This technique is employed within various industries thus driving the market’s revenue. Industries such as construction, wind and navy as well as transportation. Gelcoats are widely used in the marine industry and with rising industrialization, the demand for this market also subsequently increases. Increased trading and luxury of the marine transport industry further expand the demand for gelcoat. It is also employed on automobile parts to increase fuel efficiency and make it lightweight. 

Recent developments in this market are, in 2018, Ashland Inc. had announced its launch of Maxguard EZM marine white gelcoat for marine applications.  Such projects fuel the market’s revenue and are highly profitable.

Global Gelcoat Market: Segmentation
By Resin: 

•    Epoxy  
•    Polyester 
•    Vinyl Ester 
Polyester resin dominated the gelcoat market and is predicted to do so during the forecast period. Polyester has wide applications in this market and is primarily used for gel coat. The various properties and durability make it a favourable choice and thus holds a major market share.

By End-use Industry: 
•    Construction 
•    Wind Energy 
•    Marine 
•    Transportation 
•    Others  
The wind energy end-use industry is projected to record the highest CAGR during the forecast period. It is the fastest-growing industry and since it widely uses gel coating in wind blades and nacelles, this drives the market’s growth.  

By Region:  
•    Europe  
•    North America  
•    APAC  
•    Latin America 
•    Rest of World  
North America and Europe hold the maximum shares in the global gel coat market. Asia-Pacific is also expected to contribute significantly towards the market revenue in the forecast period.
The development and expansion of marine facilities in the developing countries will be favourable for the market.

Competitive Landscape:  
•    Tier 1 players- established companies in the market with the major market share  
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants 
The established firms in the market are Synergys Technologies, Bang and Bonsomer, Ashland, Alpha Owens-Corning (AOC) Resins, HK Research, Nuplex Industries Ltd., Reichhold LLC, CCP Composites, Fibre Glass Development Corporation, Axson Technologies, and Scott Bader
The developments that have occurred are, in 2016, Bang and Bonsomer have launched new gelcoat manufacturing unit in its Kokkola warehouse site in Finland. This investment would establish their footprints in Finland and diversify their business leading to a rise in demand for gel coat services.

FutureWise Key Takeaways  
•    Growth prospects  
•    SWOT analysis 
•    Key trends 
•    Key data points affecting market growth

Objectives of the Study: 
•    To provide with an exhaustive analysis on gelcoat market by type, end-user industry, and region 
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) 
•    To evaluate and forecast micro-markets and the overall market  
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East 
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions 
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies  


Get unlimited analyst support and customise this study further to your requirements, contact