Gelcoat Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The market is segmented By Resin Type (Polyester, Epoxy, Vinyl Ester, and Others), End-User Industry (Marine, Transportation, Construction, Wind Energy, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

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Gelcoat Market Size

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

Gelcoat Market 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.
Gelcoat Market Trends

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 Market Growth

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

  1. ALLNEX NETHERLANDS B.V.

  2. INEOS

  3. Polynt

  4. Interplastic Corporation

  5. BÜFA GmbH & Co. KG

*Disclaimer: Major Players sorted in no particular order

ALLNEX NETHERLANDS B.V., INEOS, Polynt, Interplastic Corporation, BÜFA GmbH & Co. KG
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Gelcoat Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rise in Construction Activities in Asia-Pacific

      2. 4.1.2 Others

    2. 4.2 Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resin Type

      1. 5.1.1 Polyester

      2. 5.1.2 Epoxy

      3. 5.1.3 Vinyl Ester

      4. 5.1.4 Others

    2. 5.2 End-User Industry

      1. 5.2.1 Marine

      2. 5.2.2 Transportation

      3. 5.2.3 Construction

      4. 5.2.4 Wind Energy

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ALLNEX NETHERLANDS B.V.

      2. 6.4.2 AOC, LLC

      3. 6.4.3 BÜFA GmbH & Co. KG

      4. 6.4.4 HK Research Corporation

      5. 6.4.5 INEOS

      6. 6.4.6 Interplastic Corporation

      7. 6.4.7 Nuplex Industries Ltd.

      8. 6.4.8 Poliya Composites Resins and Polymers Inc.

      9. 6.4.9 Polynt Spa

      10. 6.4.10 Scott Bader Company Ltd

      11. 6.4.11 Seahawkpaints

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 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
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Gelcoat Market Research FAQs

The Gelcoat Market is projected to register a CAGR of greater than 7% during the forecast period (2023-2028).

ALLNEX NETHERLANDS B.V., INEOS, Polynt, Interplastic Corporation and BÜFA GmbH & Co. KG are the major companies operating in the Gelcoat Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

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.

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