Asia-Pacific Gelcoat Market, By Product Type (Standard Gelcoat and Specialty Gelcoat), Resin (Polyester, Vinyl Ester, Epoxy and Others), Application Method (Spray, Brush and Roller), End User(Automotive, Marine, Building and Construction, Wind Energy and Others), Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Gelcoat Market
Data Bridge Market Research analyses that the gelcoat market will witness a CAGR of 13.50% for the forecast period of 2021-2028. Growth in the demand for gelcoat especially in the developing economies like India and China, growing use of gelcoat by a wide range of end user verticals such as automotive, marine, building and construction, wind energy and other end user verticals, rising demand for yacht projects and water based activities and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the gelcoat market. Therefore, the market value, which was USD 450 million in 2020, would rocket up to USD 1,239.30 million by 2028.
Gelcoat is a substance that is used for finishing purposes and lamination on fibre-reinforced composites. Gelcoats provide great protective and high quality layer and is formulated using polyester, vinyl ester, epoxy and others. Since they provide enhanced mechanical property and reduce surface porosity, gelcoats are also used in improving the aesthetic appearance of the surfaces.
Rise in demand for gelcoat by the marine industry is the root cause fuelling up the gelcoat market growth rate. Rising application areas for gelcoat such as in automotive applications and growth and expansion of various end user verticals especially in the developing economies will also directly and positively impact the growth rate of the gelcoat market. Growing inclination of foreign investors in the natural resources industry, surging number of building and construction activities and increased demand for composites to reduce the weight and enhance fuel efficiency of the transportation systems will further carve the way for the growth of the gelcoat market.
However, insufficiency in raw material supply owing to the lockdown and fluctuations in their prices will pose a major challenge to the growth of the gelcoat market. Slow production process of gelocoat will dampen the gelcoat market growth rate. Also, rising labour costs will also impede the gelcoat market growth rate.
This gelcoat market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on gelcoat market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Gelcoat Market Scope and Market Size
The gelcoat market is segmented on the basis of product type, resin, application method and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of product type, the gelcoat market is segmented into standard gelcoat and specialty gelcoat.
- On the basis of resin, the gelcoat market is segmented into polyester, vinyl ester, epoxy and others.
- On the basis of application method, the gelcoat market is segmented into spray, brush and roller.
- On the basis of end user, the gelcoat market is segmented into automotive, marine, building and construction, wind energy and others.
Asia-Pacific Gelcoat Market Country Level Analysis
The gelcoat market is analysed and market size, volume information is provided by country, product type, resin, application method and end user as referenced above.
The countries covered in the gelcoat market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific
China in Asia-Pacific dominates the market owing to the several projects and developments in the Chinese shipbuilding industry, growth and expansion of various end user verticals in this country, abundant availability of raw materials, rising building and construction activities and rising industrialization.
The country section of the gelcoat market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Gelcoat Market Share Analysis
The gelcoat market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to gelcoat market.
The major players covered in the gelcoat market report are Akzo Nobel N.V., Ashland., LyondellBasell Industries Holdings B.V., 3M, Sika AG, ALLNEX GMBH, INEOS AG, Polynt, Interplastic Corporation., BÜFA GmbH & Co. KG, AEKYUNG CHEMICAL Co., Ltd, AOC, Changzhou Huake Polymers Co., Ltd., De IJssel Coatings BV, DUGALAK, Eternal Materials Co., Ltd., Euroresins, HK Research Corporation, Interplastic Corporation., Mäder, NANO4LIFE EUROPE L.P., Polynt, Resoltech, Scott Bader Company Ltd and TURKUAZ POLYESTER among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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