A recent
report published by Infinium Global Research on the abrasion resistant coatings
market provides in-depth analysis of segments and sub-segments in the global as
well as regional abrasion resistant coatings market. The study also highlights
the impact of drivers, restraints, and macro indicators on the global and
regional abrasion resistant coatings market over the short term as well as long
term. The report is a comprehensive presentation of trends, forecast and dollar
values of the global abrasion resistant coatings market. According to the
report, the global abrasion resistant coatings market is projected to grow at a
CAGR of 5.50% over the forecast period of 2022-2028.
Market
Insight
The global
abrasion resistant coatings market was sized from USD 9.0 billion in 2022 to about USD 12.5 billion in 2028. The
global abrasion resistant coatings market is projected to grow with a CAGR of
5.50% during 2022-2028. Abrasion resistant coatings are generally used in the
power generation sector in wind turbine blades, concrete cooling towers,
valves, containment vessels, nuclear components, generators, dam structures,
and turbines. Abrasion resistant coatings are utilized to reduce or completely
eradicate the surface wear, primarily in application areas unsuitable for
lubricants. Hence, such layers are used mainly in the power generation sector to
protect against the adverse effects of weather conditions. For instance,
abrasion resistant coatings are used in the wind industry to increase the
operability of the blades by 20 years compared to traditional paints and gel
coats. Furthermore, abrasion resistant coatings improve UV stability, minimize
dirt pick up, and offer excellent abrasion resistance and low reflectivity.
Abrasion
resistant coatings found various applications in different end-use sectors like
oil & gas, marine, transportation, power generation, infrastructure,
industrial, and others. The end-use sectors are proliferating into the emerging
economies across the globe, which is expected to propel the abrasion resistant
coatings market over the forecast period. Furthermore, abrasion resistant
coatings are also used for interior and exterior applications and provide
effective functioning and long life for the tools and equipment. This is also
an essential factor anticipated to drive markets’ growth. Moreover, the
increasing need for superior quality ceramic-based coating in rising economies
drives the market’s growth. However, the high cost of implementation and
environmental & safety concerns hamper the development of the abrasion
resistant coatings market. Nevertheless, increasing the adoption of renewable
energy sources is anticipated to offer ample growth opportunities to the
market.
North
America is expected to dominate the abrasion resistant coatings market in terms
of values and volume. The growth in the region is attributed to the presence of
a large number of product manufacturers in the area. The expanding industrial
sector in the North American region is also anticipated to fuel the market’s
growth over the forecast period. Furthermore, Europe is the second-largest
region in the abrasion resistant coatings market due to the region’s
transportation, reconstruction, and power generation industries. Germany, the
UK, France, and Russia are the major contributor nations in the European
market. Moreover, the Asia Pacific abrasion resistant coatings market is
rapidly growing due to the rapid industrialization and urbanization in the
region. The growth
Segment
Covered
The report
on the global abrasion resistant coatings market covers segments such as type
and end-use. On the basis of type, the sub-markets include metal, ceramic, and
polymer. On the basis of end-use, the sub-markets include oil and gas, marine,
power generation, transportation, construction, mining, and others.
Companies
Profiled:
The report
provides profiles of the companies in the market such as Akzo Nobel NV,
Saint-Gobain, Jotun A/S, The Sherwin-Williams Company, Hempel A/S, Praxair
Surface Technologies Inc., PPG Industries, Evonik Industries, Sika AG, and
Arkema SA.
Report
Highlights:
The report
provides deep insights into the demand forecasts, market trends, and micro and
macro indicators. In addition, this report provides insights into the factors
that are driving and restraining the growth in this market. Moreover, The
IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of abrasion resistant coatings market.
Moreover, the study highlights current market trends and provides forecast from
2022-2028. We also have highlighted future trends in the market that will
affect the demand during the forecast period. Moreover, the competitive
analysis given in each regional market brings an insight into the market share
of the leading players.
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