Lining Market 2024 to 2034 Demand Analysis - The Jotun Group, The Sherwin-Williams Company, Hempel A/S, Akzo Nobel N.V., Polycorp Ltd.

The market size of lining is estimated to reach USD 4975.8 million in 2024 and grow at a CAGR of 4% from 2024 to 2034. The global sales of this rare metal are projected to reach USD 7365.4 million by 2034. Increased demand is driven by rising infrastructure development activities across the globe.

The lining industry is expected to experience steady growth in the second half of 2024 due to a strengthening economy, regulatory obligations, and increased investments in infrastructural projects. Advancements in materials science and manufacturing technology, such as nanotechnology and composite materials, have enhanced resistance against harsh chemicals, high temperatures, and mechanical stresses. Consumers are also increasingly seeking eco-friendly liner options, reducing carbon footprints and supporting a circular economy through recycling or re-use.

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Sustainable materials are sought after for the ability to protect equipment, structures, and transport vessels from corrosion, abrasion, and chemical aggression. Factors like currency exchange rates and raw material prices influence production costs. The booming automotive industry in the Asia Pacific also drives the lining market for sound insulation and heat protection applications.

Key Takeaways from the Market Report

- The lining market is set to reach USD 7365.4 million by 2034 with a CAGR of 4%.
- By product type, polymer is leading the lining market with a value share of 1% in 2024.
- Based on the end-use industry, the oil and gas segment accounted for a market share of 3% in 2024.
- India is estimated to record a CAGR of 6% between 2034 and 2034.
- China will likely hold a dominant position and show steady growth at a CAGR of 5% by 2034.

"The demand for lining materials is increasing due to ongoing economic activities, industrial expansion, and infrastructure development," says a lead analyst at Future Market Insights (FMI).

Who's Winning?

Companies like Hempel A/S, Akzo Nobel N.V., Polycorp Ltd., and Teknos Group are developing lightweight linings for automotive or aeronautical applications.  Players in the lining industry are focusing on green materials, creating high-class interiors with thermal insulation, chemical resistance, fire resistance, and self-sealing capabilities.

A few companies are offering customized items, competitive pricing, and sustainable practices to attract eco-conscious consumers. Regular investments in research and development are attracting new opportunities and refining existing models. Companies are also targeting various end-use industries and building brand recognition.

Industry Updates

BioPak, headquartered in Bondi Junction, in June 2024, announced the launch of a single-use packaging lining that would revolutionize the home-compostable cup industry.
Bio-Gate AG, headquartered in Nuremberg, in May 2023, in collaboration with OSSIS Ltd., announced the launch of HyProtect Coating.

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Get More Insights into the Lining Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the lining market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the industry potential, growth, and scope, the industry is segmented based on product type (polymer, rubber, ceramic, and carbon brick line, and tile lining), chemistry (solvent-borne, waterborne, and powder), end-use (marine, oil and gas, construction, power generation, chemical industry, automotive, mining and metal processing, and others), and region (North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, and the Middle East and Africa).

Key Segments of Market Report

By Product Type:

Based on product type, the sector is divided into polymer, rubber, ceramic, and carbon brick lines, and tile lining.

By Chemistry:

By chemistry, the industry is segmented into solvent-borne, waterborne, and powder.

By End-use:

The sector has applications in marine, oil and gas, construction, power generation, chemical industry, automotive, mining and metal processing, and others.

By Region:

The industry is spread across North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, and the Middle East and Africa.

Source: https://www.accesswire.com/926042/lining-market-set-to-total-usd-73654-million-by-2034-amid-rising-requirement-for-sustainable-lining-solutions-future-market-insights-inc

Related Reports:

Corrosion Protective Coating and Acid Proof Lining Market: https://www.futuremarketinsights.com/reports/global-corrosion-protective-coatings-market

Corrosion Protection Rubber Linings and Coatings Market: https://www.futuremarketinsights.com/reports/corrosion-protection-rubber-linings-and-coatings-market

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This release was published on openPR.