Gelcoat Market How It Is Going To Impact on Chemical IndustryPosted by Moin Patni on March 14th, 2018 Market Overview / Introduction: The Global Gelcoat Market is growing at rapid pace and is expected to reach 1,450 million by 2022, with CAGR of 8.9% between 2018-2022. Gelcoat are framed as in mold surface coating which is used to provide protective layer to substrate as well as aesthetic look to the fiber reinforced composites. Gelcoat offers unique properties and characteristics such as corrosion resistance, UV degradation and water absorption. Gelcoat is available in both brush and spray form so that appropriate thickness can be laminated on composite material to avoid damage in diverse conditions. The global gelcoat market is growing owing to rise in applications in end user industries such as marine, constructions, wind and transportation. Growing use of polyester resin in marine, wind and transportation industry due to its excellent UV degradation compared to vinyl ester and epoxy resin has boosted the polyester resin gelcoat demand over the forecasted period. Gelcoats are widely used in producing marine products such as decks, ship hulls, motor yachts and power boats which need protective coatings to witnessed impact of water tides. Rise in demand for trading and increase in spending of high class people in boats for leisure has pushed the growth of marine industry along with rise in demand for gelcoat. Vinyl ester resin holds as comparative growth rate owing to use in marine industry in North America. The gelcoat market witnessed a significant growth in recent years owing to growing construction and transportation industry in Asia-Pacific regions. Gelcoat are used on engine parts and other automobile parts to increase fuel efficiency and reduce weight. The prominent companies are focusing more on lightweight vehicles particularly in transportation industry which includes railways, ships and buses to increase the use of gelcoat in transportation industry. Sample page@ https://www.marketresearchfuture.com/sample_request/2369 Market Highlights: Gelcoats are developed materials and produced as in-mold surface coatings used for protecting substrate from diverse conditions. These materials are coated to provide aesthetic look for the fiber reinforced materials. It is available both in brush and spray form so that gelcoat can easily be laminated and is not susceptible to any damage. Gelcoat provides following properties as such UV degradation, resistant to corrosion and water absorption. Gelcoat resins are used across various end user industries such as construction, wind, marine, transportation, others. Marine applications like decks, ship hulls, motor yachts, and power boats are using large quantity of gelcoats to protect it. The increasing demand for light weight vehicles especially power racing boats are expanding the need for gelcoat in these markets. Along with light weight power boats, there is increase in demand for composites that provide better fuel efficiency in transportation vehicles such as railways, buses and leisure vehicles. Thus, gelcoat demand is expected to grow at higher rate. Rise in government spending in construction and infrastructure activities has ultimately drive the demand of gelcoat in construction industry owing to its use in fiber glass materials and others. Automobile companies are also looking to reduce weight and increase fuel efficiency of vehicles by using composites that can provide such features. Thus, transportation industry will drive the gelcoat demand in coming years. Regional Analysis: North America region represents highest market share holder in Global Gelcoat market followed closely by Europe. The rising production of boats in U.S using gelcoats to reduce weight of boats especially for racing purpose has driven the gelcoat market to North America. The dominance of Europe in gelcoat is due to strong marine and automobile industry. U.S is also a largest consumer of gelcoat owing to use of polyester in marine and transportation industry. Along with racing boats, companies are pushing their focus on leisure boats for high class people. Thus, light weight boats with higher demand of gelcoats are driving the demand to next level in these regions. Asia-pacific witnessed a moderate growth owing to growing construction and transportation industry. Competitive Analysis: Fluctuating prices of resins according to end user industries in various regions are restricting the market growth. High competition owing to easy availability of composite materials can lower down the market demand over the forecasted period. Green based coatings are being developed by many companies. These drive opportunities for small and medium enterprises in emerging economies. Key Players: HK Research Corporation (U.S.), Ashland Inc. (U.S.), Bufa Composite Systems GmbH & Co. KG. (Germany), Interplastic Corporation (U.S.), Scott Bader Company Limited (U.K.), Polynt S.p.A (Europe), Reichhold LLC (U.S.), Synergys Technologies (France), Fibre Glass Development Corporation (U.S), Bang & Bonsomer Group Ab (Europe). Browser page@ https://www.marketresearchfuture.com/reports/gelcoat-market-2369 About Market Research Future: MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. 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