Global Epoxy Gelcoat Market Size By Type of Application, By End-Use Sector, By Type of Substrate, By Geographic Scope And Forecast
Report ID: 383474|No. of Pages: 177
Global Epoxy Gelcoat Market Size By Type of Application, By End-Use Sector, By Type of Substrate, By Geographic Scope And Forecast
Epoxy Gelcoat Market Size And Forecast
Epoxy Gelcoat Market size was valued at USD 845.3 Million in 2023 and is projected to reach USD 1.1 Billion by 2030, growing at a CAGR of 4.1% during the forecasted period 2024 to 2030
Global Epoxy Gelcoat Market Drivers
The growth and development of the Epoxy Gelcoat Market drivers. These factors have a big impact on how Epoxy Gelcoat are demanded and adopted in different sectors. Several of the major market forces are as follows:
- Growth in the Composites Sector: The composites sector, which makes considerable use of gelcoats, has been expanding as a result of rising demand across a range of industries, including construction, automotive, aerospace, and marine.
- Growing Need in the Marine Sector: Due to their excellent adhesion, resilience to water, and durability, epoxy gelcoats are frequently utilised in the marine sector. The boating and yacht manufacturing industries’ expansion is one factor driving the need for epoxy gelcoats.
- Growth in the Wind Energy industry: The manufacturing of wind turbine blades has made use of epoxy gelcoats in tandem with the expansion of the wind energy industry. The market for epoxy gelcoat has been boosted by the growth of wind energy projects, which has been fueled by the need for sustainable energy sources.
- Growing Use in automobile Applications: Lightweight and very durable components are made in the automobile industry using epoxy gelcoats. Composites with epoxy gelcoats are becoming more and more popular in the automotive industry as a result of the focus on sustainability and fuel economy.
- Expanding Construction Activities: Epoxy gelcoats are used in the construction sector to create components that are resilient to corrosion and long-lasting. The need for epoxy gelcoats in building applications is rising as construction activities expand globally.
- Technology and Material Innovation breakthroughs: Constant research and development work leads to novel epoxy gelcoat formulas and technology breakthroughs. Epoxy gelcoat applications are expanding because to increased performance characteristics resulting from new materials and manufacturing technologies.
- Growing Use in Aerospace Applications: Lightweight and high-performing components are manufactured in the aerospace industry using epoxy gelcoats. The need for epoxy gelcoats is fueled in part by the expansion of the aerospace industry, which includes the manufacture of aircraft components.
- Emphasis on Lightweight Materials: The market for composites with epoxy gelcoats is driven by the trend towards lightweight materials in a number of industries, including aerospace and transportation. These materials lighten the overall weight while providing strength and longevity.
Global Epoxy Coatings Market Restraints
The Global Epoxy Coatings Market has a lot of room to grow, but there are several industry limitations that could make it harder for it to do so. It’s imperative that industry stakeholders comprehend these difficulties. Among the significant market limitations are:
- High Cost of Epoxy Gelcoats: In comparison to other gelcoat materials, epoxy gelcoats can be somewhat pricey. Their acceptance may be constrained by their cost, particularly in markets or uses where costs are an issue.
- Difficult Application Process: Specialised tools and expert labour are frequently needed for the application of epoxy gelcoats. Epoxy gelcoat use may be restricted and labour costs may increase due to the intricacy of the application procedure, especially in sectors where sophisticated application methods are not easily accessible.
- Limited Colour and Design Options: Compared to other forms of gelcoats, epoxy gelcoats may offer fewer colour options and less design freedom. These restrictions may be a hindrance to certain industries or applications where a broad spectrum of colours and complex graphics are essential.
- Susceptibility to Chalking and Yellowing: Epoxy gelcoats are prone to chalking and yellowing, particularly in the presence of weathering and continuous sunshine. This could be problematic in outdoor applications and have an impact on the coated surfaces’ aesthetic appeal.
- UV Stability and Weather Resistance: Epoxy gelcoats may not be as resistant to UV radiation as other forms of gelcoats, although having good resistance to many environmental variables. Without extra UV protection, this restriction may affect their usability for outdoor applications.
- Curing Time and Downtime: Compared to certain other gelcoat materials, epoxy gelcoats may require longer curing times. Project deadlines may be impacted by downtime during the application process because to the prolonged curing period.
- Adhesion to Specific Substrates: In the absence of suitable surface preparation, epoxy gelcoat adhesion to specific substrates may be difficult to achieve. Adhesion problems may affect the coating’s durability and overall performance.
- Environmental and Health Risks: Some epoxy gelcoat formulas have the potential to contain volatile organic compounds (VOCs) or other substances that pose a risk to human health and the environment. Certain epoxy gelcoat formulations may not be able to be used as much due to regulations limiting VOC emissions.
Global Epoxy Gelcoat Market Segmentation Analysis
The Global Epoxy Gelcoat Market is segmented on the basis of Type of Application, End-Use Sector, Type of Substrate, And Geography.
1. By Type of Application:
- Maritime Epoxy Gelcoats: Because of their resistance to UV light, water, and chemicals, these gelcoats are used for boat decks and hulls, among other maritime applications.
- Automotive Epoxy Gelcoats: Used on external parts of cars, these coatings offer strength, resistance to corrosion, and visual appeal.
- Wind Energy Epoxy Gelcoats: Used in the production of wind turbine blades to improve performance and offer resistance to environmental elements.
- Epoxy gelcoats for construction: Applied to structural and architectural elements, these coatings offer resilience against chemicals and weathering.
2. By End-Use Sector:
- Composites Industry: Moulding and protecting composite structures need for epoxy gelcoats, which are an essential component of the sector.
- Transportation Industry: Used in the manufacture of automobile parts, boats, yachts, and other items connected to transportation.
- Renewable Energy Industry: Used to make wind turbine blades in the wind energy industry.
- Building and Construction Industry: Applied to structural and architectural elements in building applications.
3. By Type of Substrate:
- Fibreglass Epoxy Gelcoats: Applied to fibreglass substrates, these gelcoats are frequently utilised in composites and maritime applications.
- Metal Epoxy Gelcoats: Used to prevent and resist corrosion on metal substrates.
- Concrete Epoxy Gelcoats: Used in construction applications to add resilience to concrete surfaces.
4. By Geography:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Key Players
The major players in the Epoxy Gelcoat Market are:
- ALLNEX NETHERLANDS B.V. (Netherlands)
- INEOS (Switzerland)
- Polynt Reichhold (US)
- Interplastic Corporation (US)
- BÜFA GmbH & Co. KG (Germany)
- Scott Bader (UK)
- Resoltech (US)
- Adhesive Technologies (US)
- Axson Technologies (US)
- AMT Composites (US)
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2030 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2030 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED |
|
| SEGMENTS COVERED | Type of Application, End-Use Sector, Type of Substrate, And Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Top Trending Reports:
Global Functional Polyolefin Hot Melt Adhesives Market Size And Forecast
Global Dimethylacetamide Market Size And Forecast
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1. Introduction
• Market Definition
• Market Segmentation
• Research Methodology
2. Executive Summary
• Key Findings
• Market Overview
• Market Highlights
3. Market Overview
• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter’s Five Forces Analysis
4. Epoxy Gelcoat Market, By Type of Application
• Maritime Epoxy Gelcoats
• Automotive Epoxy Gelcoats
• Wind Energy Epoxy Gelcoats
• Epoxy gelcoats for construction
5. Epoxy Gelcoat Market, By End-Use Sector
• Composites Industry
• Transportation Industry
• Renewable Energy Industry
• Building and Construction Industry
6. Epoxy Gelcoat Market, By Type of Substrate
• Fibreglass Epoxy Gelcoats
• Metal Epoxy Gelcoats
• Concrete Epoxy Gelcoats
7. Regional Analysis
• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE
8. Market Dynamics
• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market
9. Competitive Landscape
• Key Players
• Market Share Analysis
10. Company Profiles
• ALLNEX NETHERLANDS B.V. (Netherlands)
• INEOS (Switzerland)
• Polynt Reichhold (US)
• Interplastic Corporation (US)
• BÜFA GmbH & Co. KG (Germany)
• Scott Bader (UK)
• Resoltech (US)
• Adhesive Technologies (US)
• Axson Technologies (US)
• AMT Composites (US)
11. Market Outlook and Opportunities
• Emerging Technologies
• Future Market Trends
• Investment Opportunities
12. Appendix
• List of Abbreviations
• Sources and References
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
|
|
| Demand side |
|
|
Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|---|---|
|
|
