The glass flake coatings market is estimated at USD 1.44 billion in 2017 and is projected to reach USD 1.80 billion by 2022, at a CAGR of 4.48% from 2017 to 2022
NEW YORK, Feb. 26, 2018 /PRNewswire/ -- The glass flake coatings market is expected to grow at a CAGR of 4.48% from 2017 to 2022
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The glass flake coatings market is estimated at USD 1.44 billion in 2017 and is projected to reach USD 1.80 billion by 2022, at a CAGR of 4.48% from 2017 to 2022. Glass flake coatings offer excellent resistance to oil, gas, moisture, chemicals, and many solvents.
The market is mainly driven by the increased demand for glass flake coatings to coat substrates such as steel and concrete in the oil & gas, marine, and chemical & petrochemical end-use industries. The glass flake coatings market may be restrained by the slow growth of the chemical & petrochemical and marine sectors in Europe
Based on resin, the epoxy segment is projected to lead the glass flake coatings market during the forecast period
The epoxy segment is expected to lead the glass flake coatings market during the forecast period. Epoxy resins are one of the most versatile materials available for coating in marine environments.
Epoxy-based glass flake coatings have different properties, including superior anti-corrosion properties and longer service life, which make them highly useful for coating steel structures used in industrial plants, tank exteriors, oil tanks, pipelines, and cooling towers
Asia Pacific to lead the glass flake coatings market during the forecast period
Asia Pacific is the largest and the fastest-growing region in the glass flake coatings market. It is projected to register the highest CAGR during the forecast period and offer significant opportunities to glass flake coatings market players.
The low cost of production and availability of cheap labor in the region are some of the factors contributing to this high growth. China has been driving the glass flake coatings market not only in the Asia Pacific region but also globally due to the rapid expansion of its chemical manufacturing industry and increasing shipbuilding activities.
Breakup of primary interviews:
• By Company Type - Tier 1—48%, Tier 2—31%, and Tier 3—21%
• By Designation - C level—32%, D level—28%, and Others—40%
• By Region – APAC—33%, Europe—24%, the Middle East & Africa—22%, North America—12%, and South America—9%
Key companies profiled in this report include Akzo Nobel (Netherlands), PPG Industries (US), Jotun (Norway), Hempel (Denmark), Chugoku Marine (Japan), The Sherwin-Williams Company (US), KCC Corporation (South Korea), Nippon Paint (Japan), Kansai Paint (Japan), and RPM International (US).
Research Coverage
The glass flake coatings market report covers various segmentations that include by resin (epoxy, vinyl ester, polyester), by substrate (steel, concrete), and by end-use industry (oil & gas, marine, chemical & petrochemical, and others). The end-use industry segments have been further analyzed for each country across regions.
Reasons to buy the Report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, benchmarking analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the glass flake coatings market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on glass flake coatings offered by top players in the global glass flake coatings market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the glass flake coatings market
• Market Development: Comprehensive information regarding lucrative emerging markets—the report analyzes the markets for glass flake coatings across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global glass flake coatings market
• Competitive Assessment: In-depth assessment of market ranking, strategies, products, and manufacturing capabilities of leading players in the global glass flake coatings market
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