Global Gelcoat (Polyester, Vinyl Ester, Epoxy) Market Analysis & Outlook, 2019 to 2024 - Epoxy Resin-based Gelcoat is Projected to Register the Highest CAGR in Terms of Value & Volume - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 20, 2019--The “Gelcoat Market by Resin Type (Polyester, Vinyl Ester, Epoxy), End Use Industry (Marine, Transportation, Construction, Wind Energy), Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The gelcoat market size is estimated at USD 1.2 billion in 2019 and is projected to reach USD 1.7 billion by 2024, at a CAGR of 8.0% between 2019 and 2024.
Gelcoats are used in different industries such as marine, transportation, construction, wind energy, and others. They exhibit various properties such as gloss, long durability, flexibility, stiffness, strength, chemical resistance, corrosion resistance, weather resistance, and UV resistance. The superior properties offered by gelcoat are enabling its usage in the end-use industries. However, cracking of gelcoats and uncertainty in PTC affecting the wind energy industry are the major factors restraining the market growth.
Epoxy resin-based gelcoat is projected to register the highest CAGR between 2019 and 2024 in terms of value and volume
Gelcoats are used in the FRP industry specially manufactured in-mold surface coatings to offer high-class visible surface. There are mainly four types of resins used in making gelcoats, which include polyester, vinyl ester, epoxy, and other resins that include polyurethane, phenolic, and acrylic. Gelcoats are mainly produced using polyester resins that have applications in spas, automotive body parts, hull, boats, and others. Epoxy-based gelcoat is expected to register the highest CAGR during the forecast period. Epoxy resin-based gelcoat has good covering and spreading properties. It is also easily workable inside the mold. It is used in master molds.
The wind energy end-use industry is expected to register the highest CAGR between 2019 and 2024 in the global gelcoat market
Wind energy is projected to be the fastest-growing end-use industry of gelcoat during the forecast period, in terms of both value and volume. Gelcoat is widely used in wind blades and nacelles. The increasing wind energy installations in APAC, Europe, and North America is bolstering the use of gelcoat in the wind energy industry. Gelcoats are used on the surface of wind blades made of polymers because of their adequate chemical protection and UV resistance properties. Due to their corrosion, water, high mechanical loads, weathering, and abrasion resistance properties, gelcoats are widely used in the wind energy industry.
The gelcoat market in APAC is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2024
The gelcoat market in APAC is projected to register the highest CAGR during the forecast period, in terms of both value and volume. This growth can be attributed to the increasing demand for gelcoat from the transportation, marine, construction, and wind energy end-use industries. The booming transportation and construction industries are responsible for the growth of the gelcoat market in the region. China is one of the prominent consumers of gelcoat in the region. The country has become the single-largest consumer of gelcoat in the wind energy industry and is expected to strengthen its position further.
The study includes an in-depth competitive analysis of key players, with their company profiles, recent developments, and key market strategies
Some of the prominent players in the gelcoat market are Ineos Enterprise (UK), Bufa Composite Systems GmBh (Germany), and HK Research Corporation (US). The strategies undertaken by them include agreements and expansions. For example, in November 2018, Ineos entered into a definitive agreement with Ashland Inc. for taking over Ashland’s Inc.’s composite business segment offering gelcoat. The agreement helped the company to consolidate its product portfolio.
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.5 Unit Considered
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Gelcoat Market
4.2 Gelcoat Market, By End-Use Industry
4.3 Gelcoat Market, By Resin
4.4 Gelcoat Market, By Country
5 Market Overview
5.2.1 Growing Use of Composites in Various Industries
5.2.2 Useful Properties Offered By Gelcoat
5.2.3 Increase in Demand for Gelcoat in the Transportation Industry
5.3.1 Uncertainty in PTC Affecting the Wind Energy Industry
5.3.2 Shift Toward Closed Molding Process Affecting the Use of Gelcoat
5.3.3 Cracking of Gelcoat
5.4.1 Emerging Wind Energy Industry
5.4.2 Growing Demand from the APAC Region
5.5.1 Government Regulations
5.6 Porter’s Five Forces Analysis
5.7 Value Chain Analysis
5.8 Price Analysis
5.9 Technology Development
5.1 New Technology and Impact Analysis
5.11 Growth Influencing Factors, By End-Use Industry
6 Macroeconomic Overview and Key Trends
6.2 Trends and Forecast of GDP
6.3 Trends of the Automotive Industry
6.4 Trends and Forecast of the Construction Industry
7 Gelcoat Market, By Resin
7.3 Vinyl Ester
8 Gelcoat Market, By End-Use Industry
8.5 Wind Energy
9 Gelcoat Market, By Region
9.2 North America
9.5 Latin America
10 Competitive Landscape
10.2 Recent Developments
10.3 Market Ranking of Top 5 Players in the Gelcoat Market
10.4 Competitive Benchmarking
11 Company Profiles
11.1 Ineos Enterprise
11.2 Bufa Composite Systems GmbH
11.3 HK Research Corporation
11.5 Scott Bader Company
11.6 Poliya Composites Resins and Polymers
11.7 Interplastic Corporation
11.8 Alpha Owens-Corning (AOC) Aliancys
11.9 Polynt-Reichhold Group
11.10 Turkuaz Polyester
11.11 Other Companies
11.11.1 Sika Advanced Resins
11.11.2 GRM Systems S.R.O.
11.11.3 Satyen Polymers
11.11.4 Vikram Resins and Polymers
11.11.5 Mader Group
11.11.7 Zhejiang Leader Composite Co. Ltd.
11.11.8 Changzhou Huake Polymers Co. Ltd.
11.11.9 Eternal Synthetic Resins (Changsu) Co. Ltd.
11.11.10 Jiangsu Fullmark Chemicals Co. Ltd. China
For more information about this report visit https://www.researchandmarkets.com/research/56mklp/global_gelcoat?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190220005754/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 02/20/2019 12:34 PM/DISC: 02/20/2019 12:34 PM