Global Gelcoat Market is Expected to Reach USD 1450 Million in the Year 2022

Market Highlights

Gelcoats are developed materials and produced as in-mold surface coatings used for protecting substrate from diverse conditions. These materials are coated to provide aesthetic look for the fiber reinforced materials. It is available both in brush and spray form so that gelcoat can easily be laminated and is not susceptible to any damage. Gelcoat provides following properties as such UV degradation, resistant to corrosion and water absorption.

Gelcoat resins are used across various end user industries such as construction, wind, marine, transportation, others. Marine applications like decks, ship hulls, motor yachts, and power boats are using large quantity of gelcoats to protect it. The increasing demand for light weight vehicles especially power racing boats are expanding the need for gelcoat in these markets. Along with light weight power boats, there is increase in demand for composites that provide better fuel efficiency in transportation vehicles such as railways, buses and leisure vehicles. Thus, gelcoat demand is expected to grow at higher rate. Rise in government spending in construction and infrastructure activities has ultimately drive the demand of gelcoat in construction industry owing to its use in fiber glass materials and others. Automobile companies are also looking to reduce weight and increase fuel efficiency of vehicles by using composites that can provide such features. Thus, transportation industry will drive the gelcoat demand in coming years.

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Competitive Analysis-

Major Key Players in Gelcoat Market are:

The major Key Players of this Market are: HK Research Corporation (U.S.), Ashland Inc. (U.S.), Bufa Composite Systems GmbH & Co. KG. (Germany), Interplastic Corporation (U.S.), Scott Bader Company Limited (U.K.), Polynt S.p.A (Europe), Reichhold LLC (U.S.), Synergys Technologies (France), Fibre Glass Development Corporation (U.S), Bang & Bonsomer Group Ab (Europe) and Others

Regional Analysis:

North America region represents highest market share holder in Global Gelcoat Market followed closely by Europe. The rising production of boats in U.S using gelcoats to reduce weight of boats especially for racing purpose has driven the gelcoat market to North America. The dominance of Europe in gelcoat is due to strong marine and automobile industry. U.S is also a largest consumer of gelcoat owing to use of polyester in marine and transportation industry. Along with racing boats, companies are pushing their focus on leisure boats for high class people. Thus, light weight boats with higher demand of gelcoats are driving the demand to next level in these regions. Asia-pacific witnessed a moderate growth owing to growing construction and transportation industry.

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Competitive Analysis

Fluctuating prices of resins according to end user industries in various regions are restricting the market growth. High competition owing to easy availability of composite materials can lower down the market demand over the forecasted period. Green based coatings are being developed by many companies. These drive opportunities for small and medium enterprises in emerging economies.

Access the market data and market information presented through more than 25 market data tables and 25 Figures spread over 130 numbers of pages of the project report “Global Gelcoat Market - Forecast to 2022”

Market Segmentation:

Global Gelcoat Market is majorly segmented on the basis of Resin Type and End User Industry. Based on resin type, Gelcoat market is segmented into epoxy, polyester, vinyl ester, others. Based on end user industry of Gelcoat, the market is segmented into construction, wind, marine, transportation, others.

On basis of Resin Type, Gelcoat is segmented as epoxy, polyester, vinyl ester, others. Polyester resins drive the global gelcoat market. Owing to high UV degradation of polyester compared to vinyl ester and epoxy resins, polyester resin is highly preferable in marine and transportation industry. Vinyl ester resins hold good market share owing to growing marine industry in North America. The demand for gelcoats which are durable, water retention and blister resistance has driven the market growth in wind and transportation industry. Further with growing polyester prices across the globe can restrain the market demand over the Forecasted Period.

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