According to TechSci Research report, “Global Abrasion Resistant Coatings Market By Type (Metal/Ceramic Coatings and Polymer Coatings), By End-Use Industry (Marine, Oil & Gas, Power Generation, Transportation, Mining, Construction), By Region, Forecast & Opportunities, 2025”, global abrasion resistant coatings market is expected to witness formidable CAGR during the forecast period. Growing requirements for protection from rust among various end use industries is one of the major factors accounting for the growth of global abrasion resistant coatings market. Moreover, surging demand for abrasion resistant coatings from numerous end-use industries such as marine, transportation, oil and gas and others are further expected to bode well for the growth of global abrasion resistant coatings market through the forecast years. In addition to this, surging utilization of metals in high-temperature applications is anticipated to positively influence the growth of global abrasion resistant coatings market in the years to come. Also, growing efficiency of polymer-based coatings is making headway for the growth of global abrasion resistant coatings market. Along with this, continuous ongoing rapid advancements in ceramic-based coatings is positively contributing to the market across the globe. Moreover, the abrasion resistant coatings are usually designed to extend the life of a product, which is expected to bolster the growth of market in the coming years. However, there are some factors such as requirement of a qualified workforce for operation, etc., that might act as major impediment to the growth of global abrasion resistant coatings market through 2025.
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Global abrasion resistant coatings market can be segmented based on type, end use industry, company and region. Considering the end use industry, the market is fragmented into marine, oil & gas, power generation, transportation, mining and construction. The power generation industry segment dominated the global abrasion resistant coatings market in terms of largest market share until 2019 and is further anticipated to hold its dominance during the forecast years as well which can be accredited to the fact that in power generation sector, abrasion resistance coatings are being widely utilized in wind turbine blades, containment vessels, concrete cooling towers, valves, nuclear components, generators, turbines and dam structures. In addition to this, these coatings are also used in the power generation sector in order to give protection against the adverse effects of bad weather conditions, which is augmenting the segment growth across the globe. Also, in the wind power generation industry, fluoropolymers-based abrasion resistant coatings are used to coat the surface of wind blades, which enhances the operability of the blades by almost 20 years in comparison to traditional paints and gelcoats. More than that, it also improves UV stability, excellent abrasion resistance and low reflectivity. These are some factors augmenting the demand for abrasion resistant coatings, globally. .
Metal Coating Corporation, SDC Technologie, 3M, ASB IndustrieChesterton, Impreglon, NEI Corporation, Precision Coatings, Endura Coating, E/M Coating are among others are the leading players operating in global abrasion resistant coatings market. The players are adopting several growth strategies to enhance the market scenario of abrasion resistant coatings. Other competitive strategies include product launches; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen their market position.
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“North America is expected to dominate the global abrasion resistant coatings market during the next five years on owing to presence of many key product manufacturers in the region. Additionally, Europe is also anticipated to register high growth over the coming years, which can be attributed to increasing focus on the generation of renewable energy.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Abrasion Resistant Coatings Market By Type (Metal/Ceramic Coatings and Polymer Coatings), By End-Use Industry (Marine, Oil & Gas, Power Generation, Transportation, Mining, Construction), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global abrasion resistant coatings market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global abrasion resistant coatings market.
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