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Gelcoat Market research report delivers key data about the product portfolios, product values, company profiles, shares, and contact data for the company. This promotional market document on the worldwide market also represents all the regions as well as countries across the globe, which showcase a regional manufacturing status, such as volume, market size, value and price details. It also represents a brief summary of sales, revenue share, demand/supply data, and market growth analysis during the predicted period. Gelcoat business report showcases an overall mapping of the industry vendors and the analysis of the competitive landscape.
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.
Market Overview:
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.
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Some of the major players operating in the gelcoat market are:
- 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.)
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.
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.
Restraints/ Challenges
- Stringent government regulations for gelcoat manufacturers
Styrene is the most common monomer of polyester resin-based gelcoats, the excessive usage of styrene has been a major reason for worry for workers’ safety and health. This makes the expansion of the market very difficult. Numerous countries’ governments have imposed stringent rules and regulations to decrease styrene emissions from gelcoats and resins. This is ultimately lowering the market growth of the gelcoat during the forecast period.
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Global Gelcoat Market Scope
Product Type
- Standard Gelcoat
- Specialty Gelcoat
Resin
- Polyester
- Vinyl Ester
- Epoxy
- Others
Application Method
- Spray
- Brush
- Roller
End User
- Construction and Architecture
- Commercial
- Residential
- Industrial
- Healthcare and Medical
- Hospitality
- Retail
- Automotive and Transportation
- Electric vehicles
- Gas powered vehicles
- Others
- Food and Beverages
- Electrical and Electronics
- Visual communication
- Others
- Sanitary ware
- Commercial
- Residential
- Industrial
- Marine
- Aerospace and Defense
- Glazing
- Windows
- Partitions
Gelcoat Market Regional Analysis/Insights
The gelcoat market is analyzed and market size insights and trends are provided by country, product type, resin, application method and end user as referenced above.
The countries covered in the gelcoat market report are 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.
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