Glass Flake Coatings Gaining Popularity in Marine industry for Their Superior Corrosion Resistance and Thermal Stability: Fact .MR

NEW YORK, June 21, 2021 /PRNewswire/ -- As per a study by Fact MR, the glass flake coatings market exhibited growth at a CAGR of nearly 5% in 2020. Fact.MR also forecasts that sales of glass flake coatings will reach up to US$ 2 Bn, exhibiting growth at a CAGR of around 3% during the forecast period of 2021-2031.

Increasing application in the expanding shipbuilding and oil and gas industry will fuel the demand for glass flake coating. According to NES Fircroft, as of 2019, ten of the biggest oil & gas exploration projects contributed over US$ 207 billion. Expanding offshore oil and gas industry on account of increasing energy demand is creating a strong demand for glass flake coatings in new pipeline and upcoming projects.

The expansion of the maritime industry due to rising world trade with trans-free trade agreements is projected to boost opportunities glass flake coatings application in construction and maintenance projects.

As shipbuilding corporations are emphasizing on incorporating durable, long-lasting and robust construction material invulnerable to corrosion and abrasion, the sales of glass flake coatings are gaining momentum.

"Increasing spending on pipeline infrastructure projects and rising demand for novel solutions to protect vessels from corrosion, fouling, abrasion, and UV degradation are encouraging the adoption of flat glass coatings," said a lead analyst at Fact.MR.

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Key Takeaways

• The U.S. is predicted to offer lucrative growth opportunities during the forecast period, as a result of increasing oil & gas exploration projects.
• The Asia Pacific glass flake coating market is projected to witness the highest growth during the assessment period.
• China has been leading the glass flake coatings market globally, owing to the rapid expansion of its chemical manufacturing industry and increasing shipbuilding activities. The market in China is expected to surpass valuation of US$ 380 Mn by the end of 2031.
• The epoxy flake glass coating is registering very high demand and is expected to cross nearly 4% CAGR by the end of assessment period (2021-2031).
• Increasing adoption of steel as a material in marine construction for good workability and anti-corrosion will increase the market demand for glass flake coating during the forecast period.

Prominent Drivers

• Increasing demand for advanced and highly efficient coatings like epoxy, vinyl ester and water- based acrylics is fueling the growth of glass flake coating market.
• Rapid industrialization across many sections of the world will prove to be a key factor, fuelling the demand for high rust stabilizers with reinforced glass coating.
• Upcoming shipbuilding and new pipeline construction projects will elevate the market growth.
• Increasing need for improving performance and lifespan of equipment and devices drives the glass flake coatings market demand.

Key restraints

• Fluctuation in the price of flake glass coatings is hampering market expansion to some extent.
• Slow growth in the industrial sectors is restricting the market growth.
• Lack of market awareness regarding utilization and characteristics of glass flake coatings will hamper the market growth.

Discover more about the flat glass coatings market with 112 figures and 84 data tables, along with the table of contents. You will also find detailed market segmentation on

https://www.factmr.com/report/glass-flake-coatings-market/toc

Competitive Landscape

Leading players operating in glass flake coatings market profiled by Fact.MR are Akzo Nobel N.V, BASF SE, Berger Paints India Ltd., Chemiprotect Engineers, Clean Coats P. Ltd., Corrosioneering Group, Demech Chemical Products Pvt. Ltd., Grauer & Weil (India) Ltd., Hempel A/S, Kansai Paint Co. Ltd, KCC Corporation, National Paints Factories Co. Ltd., Nippon Paint Co. Ltd., PPG Industries Inc., RPM International Inc., Samhwa Paint Industrial Co. Ltd., The Sherwin-Williams Company, Shalimar Paints Limited, SK Kaken Co. Ltd., Specialized Coating Systems (Pty) Limited, Winn & Coales (Denso) Ltd., Yung Chi Paint & Varnish.

The market players are aiming at competitive edge by investing in modern innovation programs. They are employing organic and inorganic marketing strategies to achieve the goal.

They are prioritizing new product development to consolidate their market position. They are also engaging in forming strategic alliances, merger and acquisitions to expand their global reach.

For instance:

• Chemiprotect Engineers offers a broad range of glass flake coating and lining systems which are 100% solid and manufactured from epoxy, polyester, vinyl ester, novalac vinyl ester, novalac epoxy and bisphonel.
• Corossioneering Group launched a new epoxy glass flake lining in Jan. 2020 which provides durable chemical protection in aggressive atmospheric conditions and immersed environments through its CORROCOAT subsidiary.
• Similarly, Akzo Nobel launched the Interzone 954GF international range of protective coatings, containing a high level of lamellar glass flake for enhanced abrasion and corrosion protection.

More Valuable Insights On Glass Flake Coatings Market

Fact.MR, in its new report, offers an unbiased analysis of the global glass flake coatings market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on in flat glass coatings market on the basis of substrate (steel glass flake coatings and concrete glass flake coatings), resin (epoxy glass flake coatings, vinyl ester glass flake coatings and polyester glass flake coatings), end use industry (glass flake coatings for oil & gas, glass flake coatings for marine industry, glass flake coatings for chemical & petrochemical industry and glass flake coatings for other end-use industries), region ( North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East and Africa).

Key Questions Covered in the Report

• How will glass flake coating sales expand until 2031?
• Which is likely to be the most promising market for glass flake coatings?
• By resin, which are likely to be the most widely deployed glass flake coatings?
• Which is the dominant glass flake coatings technology?
• What are the key drivers and restraints for glass flake coatings market?

Explore Fact.MR's Coverage on the Chemical & Materials Domain –

Coated Glass Market- The global coated glass industry is expected to increase at a rapid pace as temperatures rise and carbon emission regulations become more strict. Emerging markets provide chances for international coated glass producers to expand. Customers are drawn to innovations such as nano textured glass, directional glass, and hydrophilic glasses. Market players are leveraging by investing in industry 4.0 technologies such as cobots, and automated guided vehicles to reduce manufacturing costs.

Flat Glass Coatings Market- Rapid infrastructure development in architectural, automobile, and energy generation has largely fueled the boom of flat glass coatings market. During the pandemic crisis, prospects took a huge hit as global infrastructure projects were temporarily put on hold. Future possibilities, on the other hand, are promising.

Glass Coatings Market- Due to increased demand for glass coatings from various industries such as automotive, aerospace, marine, aviation, building and construction, the worldwide glass coatings market is expected to develop significantly over the forecast period. Because of the increase in vehicle sales, repair, and maintenance, the need for glass coatings is likely to rise in the automotive industry.

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SOURCE Fact.MR