Sol-gel Coatings Market (Product Type - Corrosion and Wear Resistant, Water Resistant, and Others; End-user Industry - Automotive, Architecture, Protective Coatings, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Sol-gel Coatings Market (Product Type - Corrosion and Wear Resistant, Water Resistant, and Others; End-user Industry - Automotive, Architecture, Protective Coatings, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Report Code: CM0500 Category: Chemicals & Materials Published: September, 2022

A recent report published by Infinium Global Research on the sol-gel coatings market provides in-depth analysis of segments and sub-segments in the global as well as regional sol-gel coatings market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional sol-gel coatings market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global sol-gel coatings market. According to the report, the global sol-gel coatings market is projected to grow at a CAGR of over 5% over the forecast period of 2022-2028.

Market Insight

The global sol-gel coatings market was valued at about USD 11 billion in 2022 and is expected to reach more than USD 14 billion in 2028, with a CAGR of over 5% during the forecast period. Sol-gel coatings combine organic and inorganic compounds prepared by sol-gel technology. The sol-gel process is utilized to convert small molecules to solid materials and involves converting monomers into the sol, which acts as a precursor for a network of particles. The market is predicted to witness significant growth because of rising applications in construction, electronics, communications, optical devices, automotive, and biomedical. Growing infrastructure, which needs corrosion protection, increasing technological advancements, and modernization within the production techniques of sol-gel coatings are key factors expected to drive market growth. Moreover, the sol-gel technique is an environment-friendly method for the protection of surfaces and may be accustomed to replacing toxic pre-treatments and coatings like chromate conversion coatings, which successively has augmented the expansion of this market.

Rising growth within the demand for the product because of the introduction of water-based coatings in the various industries is the vital factor escalating the market growth, also increasing demand in various end-use industries for its numerous properties like self-cleaning, corrosion resistance, and IR & UV energy resistant coatings, rising concern regarding the VOCs in paints and coatings, increasing construction sector, and also the rising presence of a growing oil and gas sector, together with chemical industries are the foremost factors among others driving the sol-gel coatings market. Moreover, growing infrastructure, which needs corrosion protection, increasing technological advancements, and rising modernization in production techniques will further create new opportunities for the sol-gel coatings market in the forecast period. However, increased cost and fluctuations in the cost of raw materials and a rising halt in the growth of the various industrial segments of the world are the main factors among others acting as restraints, while and can further challenge the expansion of the sol-gel coatings market in the forecast period.

The outbreak of SARS-CoV-2 infection in 2020 has had a severe impact on the expansion scale of the sol-gel coatings market. This can be attributed to the significant decline in construction, aviation, and oil and gas industries in the wake of the movement restrictions and the introduction of stringent lockdown norms. Moreover, COVID-19 brutally hit the APAC economies, causing major disruptions in the raw material supply chain and the paints and coatings business. However, earlier in 2020, as COVID-19 cases increased globally, the production activities of several industries were stopped which hampered the expansion of the market. However, unpredictability in the cost of the raw material and increasing delay in production and supply of various industrial sectors globally have retained the market growth during covid-19 within the forecast period.

North America is the largest marketplace for sol-gel coatings, because of the stringent U.S. Environment Protection Agency (EPA) and US Food and Drug Administration (FDA) regulations like 183(e) of the Clean Air Act (Act), which is increasing the demand for environment-friendly coating like sol-gel coatings. Also, the increasing demand from the automotive and aerospace industry is further driving the expansion of the sol-gel coatings market within this region. Europe could be a lucrative sol-gel coatings market because of the rising demand for environment-friendly coating materials because of stringent environmental regulations. as an example, Directive 2004/42/EC of the European Parliament limits the emissions of volatile organic compounds (VOC) in vehicle refinishing products, paints, and others thereby driving the marketplace for coatings low or freed from VOCs such as sol-gel coatings.

Segment Covered

The report on global sol-gel coatings market covers segments such as product type, and end-user industry. On the basis of product type, the sub-markets include corrosion and wear resistant, water resistant, and others. On the basis of end-user industry, the sub-markets include automotive, architecture, protective coatings, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as 3M, Akzo Nobel NV, SOCOMORE, SCHOTT, PPG Industries Inc., CMR Coatings, Gaema Tech, Solvay SA, Arkema Group, and Henkel AG & Co. KGaA.

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 sol-gel 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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