Glass Flake Coatings Market Assessment Report To 2023 By Top Key Players - PPG Industries, Inc. (U.S.), BASF SE (Germany), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (U.S.)

The global glass flake coatings market is anticipated to expand at a staggering CAGR over the assessment period (2018-2023), asserts Market Research Future (MRFR). Glass flakes are extensively used in end-user industries such as oil and gas, petrochemical and chemical, marine, construction industry, and others. The laminar arrangement in glass flakes in coating offers excellent barrier against weather conditions. Glass flakes can also be applied to concrete or steel base substrate.

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Leading Players:

PPG Industries, Inc. (U.S.),

BASF SE (Germany),

Akzo Nobel N.V. (Netherlands),

Nippon Sheet Glass Co., Ltd. (Japan),

Jotun (Norway),

Hempel A/S (Denmark),

CHEMIPROTECT ENGINEERS (India),

The Sherwin-Williams Company (U.S.),

Winn & Coales (Denso) Limited (England),

KCC CORPORATION. (South Korea),

and many more..

Market Drivers and Constraints:

With the growing need for lifespan of devices and equipment along with improving performance is predicted to fuel the demand for glass coatings in marine, oil and gas, construction, and marine industries over the assessment period. With the growing offshore oil and gas industry owing to the increasing demand for energy is also estimated to drive the global market in pipeline construction projects. Moreover, the growing marine industry owing to increasing global trade on account of trans-free trade agreements is also estimated to stimulate the demand for glass flake coatings for shipbuilding and maintenance projects in the coming years.

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On the flip side, fluctuation in the prices of glass flake coatings along with slow growth in the industrial sectors is expected to inhibit the market growth during the assessment period. Moreover, rise in the protection by some of the regions might encourage local consumption and production, which is likely to hamper the marine industry and inhibit the market growth over the forecast period.

Segmental Insights:

On the basis of the resin type, the global glass flake coatings market is segmented into the epoxy, polyester, vinyl ester, and others. The polyester is sub-segmented to isophthalic polyester and bisphenol polyester. The epoxy is sub-segmented to pure epoxy and hybrid epoxy. The hybrid epoxy glass flake coatings are further segmented to polyamine cured epoxy and polyamide cured epoxy. The vinyl ester is sub-segmented into standard vinyl ester and brominated vinyl ester. Epoxy resin accounted for the major share of the global glass flake coatings market in 2017 owing to its superior properties such as excellent corrosion, abrasion, and impact resistance as well as strong wettability & moisture retention property.

On the basis of the substrate type, the global glass flake coatings market is segmented into steel and concrete. The steel substrate consumed glass flake coatings on a large scale under substrate type category due to increased use of steel in shipbuilding, offshore & onshore platforms, chemical storage tanks, pipelines in 2017 and is expected to continue the dominance during the forecast period.

On the basis of the application method, the global glass flake coatings market is segmented into brush/roller, conventional spray, and airless spray. Airless spray accounted the major share of the global glass flake coatings market owing to the precision centric and large-scale application in marine, oil & gas, chemical and constructions industries.

On the basis of the end-use industries, the global glass flake coatings market is segmented into oil & gas, marine, chemical, construction, and others. The oil & gas industry is sub-segmented into offshore and onshore. The marine and oil & gas industries are collectively expected to become major consumers of the global glass flake coatings market owing to its wide application in oil & gas tanks and pipelines, offshore & onshore infrastructure and shipbuilding during the forecast period.

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Regional Summary:

Geographically, the glass flake coatings market spans across regions namely, North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.

Among all the regions, Asia Pacific is predicted to hold the maximum share during the assessment period. End-use industries such as chemical, marine, and construction industry are likely to stimulate the demand for glass flake coatings over the review period.

The North American and the European region are expected to showcase a steady demand during the assessment period. End-use industries like construction and chemical industries are likely to contribute to the market growth during the assessment period.

Meanwhile, Latin America and the Middle East and Africa are predicted to show growing demand for glass flake coatings during the assessment period.

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This release was published on openPR.