Global Technology Report

Gelcoat Market worth $1.7 billion by 2024, at a CAGR of 8.0%

 Breaking News
  • No posts were found

Gelcoat Market worth $1.7 billion by 2024, at a CAGR of 8.0%

July 07
19:46 2020
Gelcoat Market worth $1.7 billion by 2024, at a CAGR of 8.0%

Browse 92 market data Tables and 43 Figures spread through 130 Pages and in-depth TOC on “Gelcoat Market”
Gelcoat Market by Resin Type (Polyester, Vinyl Ester, Epoxy), End Use Industry (Marine, Transportation, Construction, Wind Energy), Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America)

The gelcoat market is expected to grow from USD 1.2 billion in 2019 to USD 1.7 billion by 2024, at a CAGR of 8.0% during the forecast period. The gelcoat market is witnessing a significant growth because of the growing demand from various industries such as marine, transportation, and wind energy. Gelcoat provides various properties such as high gloss, UV resistance, hydrolysis or osmosis, and resistance to corrosion, water, abrasion, and chemicals to the composite molds or parts.

To know about the assumptions considered for the study download the pdf brochure

The marine end use segment accounted for the largest share of the gelcoat market in 2019.  

Marine is an important end-use industry of glass fiber reinforced plastics as entire decks and complete ship hulls for powerboats or sailing/motor yachts are entirely made up of high-quality glass fiber reinforced plastics. The use of FRP in this industry results in the usage of gelcoat that provides excellent aesthetic appearance, good corrosion resistance, and smooth and vivid surface. Companies have also realized the immense potential of gelcoat that is used in the marine industry. For instance, in November 2018, Ashland Inc. launched a new gelcoat named Maxgaurd EZM for usage in marine applications. The gelcoat offers easy application in molds and good weathering performance. It possesses high resistance to UV rays and good blister resistance.

Polyester is the largest resin used for gelcoat manufacturing in 2019.

Polyester resin is widely used for gelcoat. In terms of value and volume, the polyester resin-based gelcoat market accounted for a major share of the overall market in 2019. Polyester resins are less expensive and possess properties such as good corrosion resistance, fast curing, durability, tolerance to temperature, and low thermal expansion. Polyester resin used in gelcoats offers durability for molds and parts.

APAC is expected to be the largest market for gelcoat during the forecast period.

APAC is the largest gelcoat market, in terms of both value and volume. China, India, and Japan are the fast-growing economies that contribute to the growth of the market in the region. The booming wind energy industry and the transportation industry are bolstering the market for gelcoat in the region.

The major players in the gelcoat market include Ineos Enterprise (UK), Bufa Composite Systems GmbH (Germany), HK Research Corporation (US), Allnex (Germany), Scott Bader Company (UK), Poliya Composites Resins and Polymers (Turkey), Interplastic Corporation (US), Alpha Owens Corning (AOC) Aliancys (US), Polynt-Reichhold Group (US), and Turkuaz Polyester (Turkey).

Request for Sample Report:

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States