Gelcoat Market

Gelcoat Market was valued at US$ 1.1 Bn in 2017 and is expected to reach US$ 2.05 Bn by 2026, at a CAGR of 8.08 % during a forecast period.

 

Global Gelcoat Market

 

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Gelcoat market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in Gelcoat market.

 

Gelcoat is a material used to provide a superior finishing on a surface of a fiber-reinforced composite used to protect structural laminates. Isophthalic acid-based resins are used to manufacture gelcoats. The common gelcoat are thermosetting polymers based on epoxy or unsaturated polyester resin. Gelcoats are modified resins which are applied to molds in a liquid state. These coats offer various properties such as corrosion resistance, UV degradation and water absorption. The selection of isophthalic acid-based resins will increases water retention and blister resistance by gelcoats.

 

Increase in demand for composites to decrease weight and enhancing fuel efficiency of the transportation systems like railways, autos, and leisure vehicles plays propels the necessity for gelcoats in the transportation industry. These coats are available in brush and spray forms of suitable thickness so that laminate is not susceptible to any cracking damage with various uses in marine, wind, construction, and transportation industries. Most gelcoats are used in the marine industry.

 

Based on resin type, Polyester is the largest resin used for gelcoat manufacturing in 2017. Increasing use of polyester resin in marine, wind and transportation industry owing to its excellent UV degradation compared to vinyl ester and epoxy resin has boosted the polyester resin gelcoat market over the forecasted period. These resins are less expensive and has properties such as good corrosion resistance, fast curing, durability, tolerance to temperature, and low thermal expansion. Polyester resin holds the largest market during the forecast period, in terms of value and volume.

 

In terms of end-user industry, the marine end use segment accounted for the largest share of the gelcoat market in 2017, and also expected to be dominant throughout the forecast period. According to National Marine Manufacturers Association, around 95% of powerboats sold in the U.S. are manufactured in the U.S. itself. The German shipbuilding industry has undergone substantial transformation over the past few decades, first with modernization and privatization of the yards in East Germany during the 1990's, where considerable investment was made to improve the competitiveness of the industry, which resulted in a number of insolvencies in German yards, and significant consolidation.

 

Geographically, Asia Pacific is expected to be the largest market for gelcoat during the forecast period, in terms of value and volume. China is now the world’s largest shipbuilder in terms of gross tonnage and value, leaving behind Japan and South Korea. Rapid growth in marine boat safety in countries such as the U.S. and Canada is a foremost factor driving the demand for global gelcoat market. Globally, The U.S. is a major consumer of gelcoat.

 

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Scope of Global Gelcoat Market:

 

Global Gelcoat Market, by Resin Type:

 

• Polyester
• Vinyl Ester

Global Gelcoat Market, by End user:

 

• Marine
• Transportation
• Construction
• Wind Energy
• Others

Global Gelcoat Market, by Region:

 

• North America
• Europe
• Middle East & Africa
• Asia Pacific
• South America

Key Players Operating In Global Gelcoat Market:

 

• Ineos Enterprise,
• Bufa Composite Systems GmbH,
• HK Research Corporation
• Allnex
• Scott Bader Company
• Poliya Composites Resins and Polymer
• Interplastic Corporation
• Alpha Owens Corning (AOC) Aliancys
• Polynt-Reichhold Group
• Turkuaz Polyester
• Synergys Technologies
• Bang and Bonsomer
• Ashland
• Reichhold LLC
• Nuplex Industries Ltd

 

 

 This Report Is Submitted By @maximize market research

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