Luton, Bedfordshire, United Kingdom, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Abrasion Resistant Coatings Market.
The global abrasion resistant coatings market is expected to grow at 6.55% CAGR from 2023 to 2029. It is expected to reach above 8.62 USD billion by 2029 from 14.91 USD billion in 2022.
The global abrasion resistant coatings market may have witnessed steady growth over the years, due to its extensive use in several end-use industries. The fundamental purpose of abrasion-resistant coatings is to reduce or eliminate surface wear. These coatings are primarily employed in applications where lubricants are inappropriate. In radioactive conditions, high temperatures, and situations with long working durations, greases and lubricants cannot operate properly. The major goal of abrasion-resistant coatings is to increase a product's shelf life.
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Recent Development
March 2022 AkzoNobel introduces ‘Discover more behind one door’ campaign, developed for steel door coatings. Discover more behind one door focuses on refining the POLYDURE coating system for various applications and high performance and quality as well as the brand’s commitment to offering excellent customer service. One of the products in the line is POLYDURE N D2000, which is a hybrid coating developed for abrasion resistance along with built in flexibility.
Market Dynamics
Drivers
Enforcement of Voc Emission Regulations
Demand for High-Temperature Polymer Abrasion Resistant Coatings
Superior Properties of Ceramic Coatings
Demand for Efficient Processes and Improved Life of Equipment and Devices
Increasing Demand from Emerging Economies
Restraints
Capital-Intensive Operations for Ceramic Coatings
Opportunities
Increase in the Installation of Scrubbers in the Marine Industry
Growing Demand for Fluoropolymer Abrasion Resistant Coatings
Increasing Activities in Shipbuilding and Pipeline Industries
Challenges
Stringent Regulatory Policies and Local Laws for Pollution Control
The North American market for abrasion-resistant coatings is driven by the expanding industrial sector in the region.
North America has a dominating share in the global abrasion resistant coatings market due to power generating and maritime sectors are rapidly increasing, followed by Europe and Asia Pacific with rising urbanization and industrialization.
The power generation industry is expected to be the fastest-growing end user and it has driven the growth in the market.
Abrasion resistant coatings are utilised in wind turbine blades, concrete cooling towers, valves, containment containers, nuclear components, generators, dam structures, and turbines in the power generating sector. They are generally utilised in the power generating industry to guard against the impacts of weather. In the wind industry, fluoropolymer-based abrasion-resistant coatings are employed in wind blades, which extends the blade’s operational life by 20 years when compared to standard paints and gelcoats. It increases UV stability, allows for minimum dirt pickup, and has high abrasion resistance and low reflectivity.
Abrasion Resistant Coatings Market Report Scope
| Report Attribute | Details |
| Market size value in 2022 | 14.91 USD billion in 2022 |
| Revenue forecast in 2029 | 8.62 USD billion by 2029 |
| Growth rate | CAGR of 6.55% from 2023 to 2029 |
| Base year for estimation | 2022 |
| Historical data | 2018 - 2022 |
| Forecast period | 2023 - 2029 |
| Quantitative units | Volume in kilo tons, revenue in USD million and CAGR from 2023 to 2029 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, application, region |
| Regional scope | North America; Europe; China; Asia; Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Poland; Spain; India; Japan; Thailand; Malaysia; Indonesia; Vietnam; Singapore; Philippines; Brazil; Argentina; Saudi Arabia; UAE; Oman |
| Key companies profiled | Jindal Poly Films Ltd, COSMO Films (GBC), Polyplex, Transcendia, Shagun film enterprises, Flex Films, Taghleef Industries SLU, Drytac Corporation, J-Film Corporation, Beijing Kangde Xin Composite Material Company LLC (KDX America), Guangdong EKO Film Manufacture Co., Ltd., D&K Group Inc., GMP Co., Ltd, and others. |
Abrasion Resistant Coatings Market Players
The global abrasion resistant coatings market key players include AkzoNobel N.V., Saint-Gobain, Jotun A/S, The Sherwin-Williams Company, Hempel A/S, Praxair Surface Technologies, Henkel, Sika AG, HARDIDE PLC, Bodycote plc, PPG Industries, Inc., Arkema S.A., and Evonik Industries AG.
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Key Market Segments: Abrasion Resistant Coatings Market
Abrasion Resistant Coatings Market by Type, 2022-2029, (USD Million) (Kilotons)
- Metal/Ceramic
- Polymer
Abrasion Resistant Coatings Market by End Use Industry, 2022-2029, (USD Million) (Kilotons)
- Oil & Gas
- Marine
- Power Generation
- Transportation
- Mining
- Construction
Abrasion Resistant Coatings Market: Key Trends
Coatings that are resistant to abrasion protect the object against corrosion. The global market for abrasion resistant coatings is reportedly being driven by developing economies, an increase in the need for high-temperature polymer-based coatings, and an increased requirement for ceramic coatings of the highest quality. The usage of abrasion-resistant coatings is widespread in sectors including oil and gas, maritime, infrastructure, power generation, and power generation. The usage of these coatings is widespread for both interior and outdoor applications. Superior wear characteristics and chemical resistance can be found in abrasion-resistant coatings. Along with this, rising low-VOC demand, expanding requirement for eco-friendly coatings, and rising oxide demand are anticipated to drive the worldwide market for abrasion resistant coatings.
Abrasion Resistant Coatings Market Drivers
Growing need for low-VOC coatings and rising demand for such materials
The desire for decreased fuel usage in cargo and cruise ships is about to increase in the worldwide marine coatings market. The chances for high-value, environmentally friendly, and abrasion-resistant coatings are improving due to increasingly strict environmental requirements. Abrasion-resistant coatings for ship hulls provide one method of battling pollutants and cutting fuel use, and the necessity to do so is a significant market driver for their utilisation. Producers of marine coatings often introduce new technology cautiously. Abrasion-resistant products will continue to be in demand over the projection period due to ever-stricter environmental regulations, customer desire for more environmentally friendly products, and company innovation.
Abrasion Resistant Coatings Market Challenges
Health Hazards from the metal coating
The metal coating is used during the production of coated glass. Metal coatings carry health and safety risks for the industrial workers who come in contact with them. When surface preparation or additional applications are required for a coating, workers are at risk of inhaling these harmful pollutants. Inhaling VOCs and HAPs can lead to health problems such as headaches, dizziness, nausea, and irritation of the eyes or skin. According to the Environmental Protection Agency, at a rate of millions of pounds per year, toxic air pollutants are released into the environment that is suspected of causing cancer and other severe health problems. Hence, the use of metal coating will create hurdles in the abrasion resistant coatings market during the forecast period.
Key Question Answered
- What is the current size of the abrasion resistant coatings market?
- What are the key factors influencing the growth of abrasion resistant coatings?
- What is the major end-use industry for abrasion resistant coatings?
- Who are the major key players in the abrasion resistant coatings market?
- Which region will provide more business opportunities for abrasion resistant coatings in future?
- Which segment holds the maximum share of the abrasion resistant coatings market?
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