Gelcoat Market Size
Study Period | 2018 - 2028 |
Base Year For Estimation | 2021 |
CAGR | > 7.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Gelcoat Market Analysis
The market for the gelcoat market is expected to grow at a CAGR of more than 7% during the forecast period. Major factors driving the market studied is the rise in construction activities in Asia-Pacific.
- Increasing wind energy industry is likely to act as an opportunity.
- Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.
Gelcoat Market Trends
This section covers the major market trends shaping the Gelcoat Market according to our research experts:
Epoxy Segment to Dominate the Market
- Epoxy gelcoats are one of the major resin types available in the global gelcoat market.
- These coatings are used during shipbuilding, maintenance, and repairs on multiple parts of the ship, such as underwater hulls, ballast tanks, cargo tanks or holds, decks, topsides, and superstructures, among other parts.
- Epoxy coatings are majorly used as primers and topcoats. Owing to their convenience to recoat, bonding ability with different materials and moisture-resistant nature, these coatings are effectively used for applications involving corrosion-resistivity.
- All these factors are likely to rapidly drive the market during the forecast period.
China to Dominate the Asia-Pacific Region
- China is making a concerted effort to establish itself as a major marine power. It is now the world’s largest shipbuilder in terms of gross tonnage and value, leaving behind Japan and South Korea.
- The Chinese shipbuilding industry has integrated military and commercial efforts. With a strong commitment to the industry from China, the Chinese shipyards have already achieved a standard that caters to international customers, and the quality and quantity are expected to increase, during the forecast period.
- There are several projects and developments in the Chinese shipbuilding industry, which are evident examples of the growth of the market.
- Furthermore, the rapidly growing construction industry, primarily in China, is a major factor driving the demand for gelcoat in the construction industry.
Gelcoat Industry Overview
The gelcoat market is fragmented. Some of the major players include ALLNEX NETHERLANDS B.V., INEOS, Polynt, Interplastic Corporation, and BÜFA GmbH & Co. KG., amongst others.
Gelcoat Market Leaders
ALLNEX NETHERLANDS B.V.
INEOS
Polynt
Interplastic Corporation
BÜFA GmbH & Co. KG
*Disclaimer: Major Players sorted in no particular order
Gelcoat Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Rise in Construction Activities in Asia-Pacific
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4.1.2 Others
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4.2 Restraints
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4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Resin Type
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5.1.1 Polyester
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5.1.2 Epoxy
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5.1.3 Vinyl Ester
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5.1.4 Others
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5.2 End-User Industry
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5.2.1 Marine
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5.2.2 Transportation
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5.2.3 Construction
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5.2.4 Wind Energy
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5.2.5 Others
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 Italy
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5.3.3.4 France
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East & Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 ALLNEX NETHERLANDS B.V.
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6.4.2 AOC, LLC
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6.4.3 BÜFA GmbH & Co. KG
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6.4.4 HK Research Corporation
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6.4.5 INEOS
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6.4.6 Interplastic Corporation
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6.4.7 Nuplex Industries Ltd.
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6.4.8 Poliya Composites Resins and Polymers Inc.
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6.4.9 Polynt Spa
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6.4.10 Scott Bader Company Ltd
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6.4.11 Seahawkpaints
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Increasing Wind Energy Industry
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Gelcoat Industry Segmentation
The gelcoat market report includes:
Resin Type | |
Polyester | |
Epoxy | |
Vinyl Ester | |
Others |
End-User Industry | |
Marine | |
Transportation | |
Construction | |
Wind Energy | |
Others |
Geography | |||||||
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Gelcoat Market Research FAQs
What is the current Gelcoat Market size?
The Gelcoat Market is projected to register a CAGR of greater than 7% during the forecast period (2023-2028).
Who are the key players in Gelcoat Market?
ALLNEX NETHERLANDS B.V., INEOS, Polynt, Interplastic Corporation and BÜFA GmbH & Co. KG are the major companies operating in the Gelcoat Market.
Which is the fastest growing region in Gelcoat Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Gelcoat Market?
In 2023, the Asia Pacific accounts for the largest market share in the Gelcoat Market.
Gelcoat Industry Report
Statistics for the 2023 Gelcoat market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Gelcoat analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.