Every minute detail has been considered while exploring and examining information to prepare this market research report. It incorporates a systematic examination of the current situation of the worldwide market, which covers a few market elements. The report gives a wide-running calculative analysis of the market’s constant positive advancements, limit, creation, generation capacity, cost/benefit, demand/ supply, and import/export. To get the learning of all the above components, this gelcoat market report is made that is straightforward, broad and preeminent in quality.
Global gelcoat market is projected to register a healthy CAGR of 7.5% in the forecast period of 2019 to 2026.
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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. The market is highly benefitted by the growing trends in water-based sports, marine tourism and other leisure activity.
Competitive Analysis: Global Gelcoat Market
Some of the major players operating in this market are AKZO NOBEL N.V., ASHLAND, LyondellBasell Industries Holdings B.V., 3M, 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., Euroresins, GRM, HK Research Corporation, Interplastic Corporation, Leader Compsite Comp.,Ltd, Mäder, NANO4LIFE EUROPE L.P., Polynt, Resoltech, Scott Bader Company Ltd.,TURKUAZ POLYESTER.
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Segmentation: Global Gelcoat Market
Global gelcoat market is segmented into four notable segments which are type, resin, application method and end-user.
- On the basis of type, the market is segmented into standard gelcoat and specialty gelcoat. Standard Gelcoat is sub-segmented into sanitary gelcoats, transportation gelcoats, marine grade gelcoats, wind energy gelcoats, tooling gelcoats, clear gelcoat (marine), clear gelcoat (marble). Specialty gelcoat is sub-segmented into surface coats, sanding primer gelcoats, vinyl ester barrier gelcoats, fire retardant gelcoats, conductive gelcoats, tie coats for epoxies. In 2019, standard gelcoat segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
- In March 2019, Sika AG acquired Belineco LLC, who is involved in the manufacturing of polyurethane foam systems. This acquisition will help in building strong distribution network in European region.
- On the basis of resin, the market is segmented into polyester, vinyl ester, epoxy and others. In 2019, polyester segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
- In August 2018, LyondellBasell acquired A. Schulman, Inc., a leading supplier of composites, plastic compounds and powders. The company is diversifying its business segment to strengthen its position in the global market.
- On the basis of application method, the market is segmented into spray, brush & roller. In 2019, spray segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
- In March 2018, Sika AG acquired King Packaged Materials Company which is a producer of dry shotcrete & mortars for concrete repair. This will help the company in expanding its footprint in Canada.
- On the basis of end-user, the market is segmented into automotive, marine, building and construction, wind energy and others. They are further segmented into standard gelcoat and specialty gelcoat. In 2019, marine segment is likely to grow at the highest CAGR in the forecast period of 2019 to 2026.
- In December 2018, Akzo Nobel N.V. acquired Swire Industrial Limited. This acquisition will help in broadening sales network and strengthen the company’s position in the paints and coatings market.
- In February 2019, Scott Bader launched two new products at JEC World 2019. The products are Crestafire intumescent FST system, and Crestapol 1270 which is a new high quality urethane acrylate resin for SMC and BMC. This will help the company to make its strong presence in the resin market.
- In February 2019, Euroresins Spain and Bufa announced the launch of their first gelcoat of conductive moulds. The company is constantly adding new products to diversify its network of sales by catering more customers.
- In October 2018, LyondellBasell launched Purell EP374M which is a polypropylene (PP) heterophasic copolymer. This product has advanced storage capacity for medicine and healthcare articles at low temperatures. This development helped the company to broaden its base in the pharmaceutical and healthcare industry.
- In September 2018, Ashland announced the launch of new product which is Maxguard EZM marine white gelcoat. This product will help in the easy application and has enhanced weathering performance. This will help the company to make an edge in the global market for gelcoat products.
- In March 2018, the Akzo Nobel Specialty Chemicals relaunched as Nouryon. The creation of new name and brand will help the company to accelerate as an independent company with the building of essential chemistry for a sustainable future.
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