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Global Sol-Gel Coatings Market is expected to rise from its initial estimated value of USD 2.23 billion in 2019 to an estimated value of USD 5.23 billion by 2026, registering a CAGR of 11.25% in the forecast period of 2019-2026. This rise in market value can be attributed to the advancements in technology and introduction of modern advanced products with a lower volatile organic compound content.
Sol-gel coating is a process of creating solid products and materials using small and nano-molecules. This process involves the conversion of monomers to a colloidal solution. In essence, a solution is transformed and condensed for the formulation of a gel. The resulting gel is therefore applied on the various substrate surfaces and subsequently dried off for the formulation of a protective glossy coating.
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Major Key players profiled in this report are:
SOCOMORE, Akzo Nobel N.V., SCHOTT AG, 3M, PPG Industries Inc., CMR Coatings GmbH, Nanovations Pty Ltd., Axalta Coating Systems, The Sherwin-Williams Company, Ferro Corporation, Premium Coatings And Chemicals Pvt Ltd., Euroglas GmbH, Warren Paint & Color Co., OPTICOTE INC, Covestro AG, Thermolon Korea, Praxair Technology Inc., NTC – Nano Tech Coatings GmbH, and Nanogate SE.
Major Market Drivers:
Technological advancements and modernization in the product offered is expected to act as a driver for the market growth
Growth in the demand of the product due to the introduction of water based coatings in the various industries is also expected to drive the market growth
- By Product Type
- Corrosion & Wear Resistant
- Water Resistant
- By End-Use
- Protective Coatings
- Semiconductors & Electronics
- By Geography
- North America
- North America
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
Key Developments in the Market:
- In January 2018, PPG Industries Inc. announced that they had agreed to acquire ProCoatings, a leader of architectural and paints situated in Netherlands.
- In May 2017, Axalta Coating Systems announced that they had agreed to the acquisition of Spencer Coatings Limited. With the acquisition Axalta hopes to expand its industries served due to Spencer’s expertise in various coatings.
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