Abrasion Resistant Coatings Market The growth is attributed to the Rising Construction Projects Globally

According to Precision Business Insights (PBI), latest report abrasion resistant coatings market was valued at USD 9,750.7 million in 2023, growing at 6.8% CAGR during the forecast period 2024 to 2030. The increased demand for materials and coatings that can withstand harsh environmental conditions and abrasion in construction and infrastructure projects such as bridges, highways, and pipelines drive the market. Furthermore, abrasion-resistant coatings are essential in the automotive industry for a number of applications, including engine parts, suspension systems, and interior surfaces. The demand for enhanced abrasion-resistant coatings is anticipated to increase as the automotive sector develops with the advent of electric vehicles and lightweight materials. Collaborating with end-users, such as automobile producers and oil and gas firms, has created opportunities for the development of coatings that are optimized for particular pieces of machinery and procedures, forging long-lasting business relationships and opening up new markets. Currently, the integration of digital technologies and Industry 4.0 concepts in coating industry are in trend in the market.

View The Detailed Report Description Here - https://www.precisionbusinessinsights.com/market-reports/abrasion-resistant-coatings-market

THE ABRASION-RESISTANT COATINGS MARKET DETAILED SEGMENTATION:
Based on the type, the market is segmented into the following
• Metal/Ceramic Coatings
• Polymer

Based on the end-user industry, the market is segmented into the following
• Oil & gas
• Marine
• Power Generation
• Transportation
• Mining
• Construction

The Power Generation Industry Dominates the Abrasion-Resistant Coatings Market:
Based on end-user industry, the power generation industry segment is anticipated to show a significant growth rate in the market share over the forecasting period. The market for abrasion-resistant coatings is also driven by the power generation industry, notably in applications like coal-fired power plants and hydropower facilities to shield equipment from wear and corrosion. Wind turbine blades, concrete cooling towers, valves, containment containers, nuclear components, generators, dam structures, and turbines are among the power generation equipment that use abrasion resistance coatings. Fluoropolymer-based abrasion-resistant coatings are used in the wind industry to coat wind blades, which extends their operational life by 20 years when compared to standard paints and gelcoats. It provides great abrasion resistance, low reflectance, improved UV stability, and little dirt pickup.

Request Sample: https://www.precisionbusinessinsights.com/request-sample/?product_id=883708

Based on Geography, the market is segmented into the following
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Europe Dominates the Abrasion-Resistant Coatings Market:
Abrasion resistant coatings market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe accounted for a significant share of the abrasion-resistant coatings market. The market is expected to grow at 6.3% CAGR over the forecast years owing to Germany's increasing power generation projects. The rising oil & gas, maritime, construction, and renewable energy sectors are driving market growth in the area. The region's expanding shipbuilding industry is one of the main factors contributing to the increased need for abrasion-resistant coatings. Asia-Pacific region is also anticipated to grow in the forecasting period owing to promising growth in the construction industry in populated countries like China, and India. The market for abrasion resistant coatings in the region is also driven by rising investments in the defense industry and restructuring initiatives implemented by shipbuilding firms.

Request Methodology: https://www.precisionbusinessinsights.com/request-methodology/?product_id=883708

STRATEGIC NEW PRODUCT LAUNCHES, MERGERS, ACQUISITIONS, AND AGREEMENTS ARE THE KEY STRATEGIES ADOPTED BY MARKET PLAYERS:
Abrasion resistant coatings market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,
• In October 2021, Dow launched a new DOWSIL CC-2588 Conformal Coating, a tough, abrasion-resistant silicone-based material that protects printed circuit boards (PCBs) and electronic components against high humidity and corrosion.

Key player's profiles in the abrasion resistant coatings market report are AkzoNobel N.V. (Netherlands), Saint-Gobain (France), Jotun A/S (Norway), The Sherwin-Williams Company (US), Hempel A/S (Denmark), Praxair Surface Technologies (UK), Henkel (Germany), and Sika AG (Switzerland).

Contact:
Mr. Satya
Precision Business Insights | Toll-Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Website: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet particular research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

This release was published on openPR.