Abrasion Resistant Coatings Market to Witness Formidable Growth through 2025
According
to TechSci Research report, “Global
Abrasion
Resistant Coatings Market By Type (Metal/Ceramic
Coatings and Polymer Coatings), By End-Use Industry (Marine, Oil & Gas,
Power Generation, Transportation, Mining, Construction), By Region, Forecast
& Opportunities, 2025”, global abrasion
resistant coatings market is expected to witness formidable CAGR during the
forecast period. Growing requirements for protection from rust among various
end use industries is one
of the major factors accounting for the growth of global
abrasion resistant coatings market. Moreover, surging demand for abrasion
resistant coatings from numerous end-use industries such as marine,
transportation, oil and gas and others are further expected to bode well for
the growth of global abrasion resistant coatings market through the forecast years.
In addition to this, surging utilization of metals in high-temperature
applications is anticipated to positively influence the growth of global abrasion
resistant coatings market in the years to come. Also, growing efficiency of
polymer-based coatings is making headway for the growth of global abrasion
resistant coatings market. Along with this, continuous ongoing rapid
advancements in ceramic-based coatings is positively contributing to the market
across the globe. Moreover, the abrasion resistant coatings are usually
designed to extend the life of a product, which is expected to bolster the
growth of market in the coming years. However, there are some factors such as requirement
of a qualified workforce for operation, etc., that might act as major
impediment to the growth of global abrasion resistant coatings market through
2025.
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Global
abrasion resistant coatings market can be segmented based on type, end use
industry, company and region. Considering the end use industry, the market is
fragmented into marine, oil & gas, power generation, transportation, mining
and construction. The power generation industry segment dominated the global abrasion
resistant coatings market in terms of largest market share until 2019 and is
further anticipated to hold its dominance during the forecast years as well
which can be accredited to the fact that in power generation sector, abrasion
resistance coatings are being widely utilized in wind turbine blades, containment
vessels, concrete cooling towers, valves, nuclear components, generators, turbines
and dam structures. In addition to this, these coatings are also used in the
power generation sector in order to give protection against the adverse effects
of bad weather conditions, which is augmenting the segment growth across the
globe. Also, in the wind power generation industry, fluoropolymers-based
abrasion resistant coatings are used to coat the surface of wind blades, which enhances
the operability of the blades by almost 20 years in comparison to traditional
paints and gelcoats. More than that, it also improves UV stability, excellent
abrasion resistance and low reflectivity. These are some factors augmenting the
demand for abrasion resistant coatings, globally. .
Metal Coating Corporation, SDC
Technologie, 3M, ASB IndustrieChesterton, Impreglon, NEI Corporation, Precision
Coatings, Endura Coating, E/M Coating are among others are the leading
players operating in global abrasion resistant coatings market. The players are
adopting several growth strategies to enhance the market scenario of abrasion
resistant coatings. Other competitive strategies include product launches;
mergers & acquisitions; agreements, partnerships, and collaborations; and
expansions to diverse their product portfolio in order to strengthen their
market position.
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“North America is expected to dominate the global abrasion resistant
coatings market during the next five years on owing to presence of many key product
manufacturers in the region. Additionally, Europe is also anticipated to
register high growth over the coming years, which can be attributed to increasing
focus on the generation of renewable energy.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global
Abrasion Resistant Coatings Market By Type (Metal/Ceramic Coatings and Polymer
Coatings), By End-Use Industry (Marine, Oil & Gas, Power Generation,
Transportation, Mining, Construction), By Region, Forecast & Opportunities,
2025” has evaluated the future growth potential of global abrasion resistant
coatings market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global abrasion resistant
coatings market.
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