Global Gelcoat Market is projected to register a CAGR of 7.5% in the forecast period of 2019 to 2026.
The market is highly benefitted by the growing trends in water-based sports, marine tourism and other leisure activity.
Drivers: Global Gelcoat Market
- Growing demand of gelcoats in marine industry due to rising number of yacht projects and water based recreational activities
- Increased use of gelcoat in various applications.
- Mismatch of color in gelcoat
- Cratering or air bubble formation during gelcoat application
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Major Players: Global Gelcoat Market
Some of the major players operating in this market are:
- AKZO NOBEL N.V.
- LyondellBasell Industries Holdings B.V.
- SIKA AG
- AEKYUNG CHEMICAL Co., Ltd
- ALLNEX NETHERLANDS B.V.
- AOC, LLC
- BÜFA GmbH & Co. KG
- Changzhou Huake Polymers Co., Ltd.
- DE USSEL COATINGS BV
- DUGALAK Ltd.
- Eternal Synthetic Resins (Changshu) Co.,Ltd.
- HK Research Corporation
- Interplastic Corporation
- Leader Compsite Comp.,Ltd
- NANO4LIFE EUROPE L.P.
- Scott Bader Company Ltd.
- TURKUAZ POLYESTER
Global gelcoat market is segmented into four notable segments which are type, resin, application and end-user
- On the basis of type, the market is segmented into standard gelcoat and specialty gelcoat. The standard gelcoat segment is expected to grow at the highest CAGR in the forecast period of 2019 to 2026
- On the basis of resin, the market is segmented into polyester, vinyl ester, epoxy and others.
- On the basis of application method, the market is segmented into spray, brush & roller.
- On the basis of end-user, the market is segmented into automotive, marine, building and construction, wind energy and others.
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- Gelcoat is a compound utilized in providing outer protective layer and high quality finishing to surfaces of the fibre-reinforced composite.
- It is formulated by using different resins such as polyester, vinyl ester, epoxy and others.
- It is highly resistant to water, osmosis, UV, chemical, impact and crack.
- It gives enhanced mechanical property and reduces surface porosity.
- The gelcoat is highly used in providing protective covering from weather and environmental impact.
- It helps in providing UV stability and giving aesthetic appearance. Now, gelcoat is used for constructing luxurious yachts and growing water projects.
- The major advancement in the gelcoat is that it is now have been used for packaging foodstuffs and home décor.
- The demand for yacht projects and water based activities is driving the market. It gives shiny, glossy, smooth, durable finishing, flawless appearance.
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. Product Launch
- In March 2015, Resoltech developed a new product formulated with resins and having various health benefits. It showcased its new waterborne spray-able epoxy filters, by keeping the H&S regulations.
- In February 2015, HK Research Corporation launched a new range of gel coating polymers ReFlex. This helped the company in catering the increasing demand from marine industry and maintaining its product quality and position in the global market.
- In 2015, AEKYUNG CHEMICAL Co., Ltd developed product for corrosion resistant lining called SM FREE VE resin. It is based on isophthalic acid-derived unsaturated polyester resin or vinyl ester resin applicable for FRP. It helped the company in meeting the stringent demand of the growing market trends.
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