Report Code: A09008 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Composite Coatings Market
Request Now !Composite coatings are produced by joining two or more substances protecting against corrosion. These coatings are manufactured using various resins, including polyurethane and epoxy. Composite coatings are protective layers applied to substrates such as steel, concrete, or any other substrate material. Â Different layers of composite coatings include adhesive treated substrate, primer, base coat, and top coat. It provides superior waterproofing and corrosion protection. Composite coating provides protection against heat, corrosion, fire, and harmful radiations. These materials are light in weight, therefore, help in improving fuel efficiency. They are used in automotive, construction & manufacturing, transportation, oil & gas, and aerospace. Composite coatings are used with the technique of laser melt injection, brazing, and electro less plating.Â
COVID-19 impact analysis
Increase in demand for composite coatings for anti-corrosion and self-lubrication in the transportation industry and anti-corrosion and chemical resistance in the oil & gas industry is the key growth driver of the composite coatings market.
Rapid development in automotive and aerospace industries is the key factor driving the global composite coatings market. Moreover, growth in population and rapid industrialization are major factors boosting the expansion of the composite coatings market across the globe. Technological innovations in processes such as piping system and downhole tubing systems are expected to boost the market growth. Composite coatings are used in coating aircraft airframes. They are further used to coat wind turbine blades. Increase in awareness about renewable energy is another element for increased consumption of composite coatings.
The composite coatings layers include top coat, base coat, primer, and the adhesive substrate. The base layer is applied to the primer, which acts as a water repellent and an extra layer of protection. Furthermore, the top coat is applied which is the uppermost layer of protection comprising attracting colors. Therefore, it provides four coatings of protection to the material with a decorative finish, which is expected to drive the market growth.
The global composite coatings market by region is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garners the largest market share, owing to rise in population and increase in number of transportation vehicles in China and India, thus boosting the composite coatings market growth in Asia Pacific. Furthermore, the development of the automotive industry is expected to boost the composite coatings market growth in Europe. North America is the rapidly growing market for composite coatings. The major factor contributing toward the growth is increase in demand from the transportation and aerospace & defense industries.
Depending on application, the market is segmented as anti-corrosion, UV protection, thermal protection, and others. On the basis of end-use industry, it is divided into transportation, aerospace & defense, industrial, oil & gas, and others. The transportation industry is the rapidly growing segment in the composite coatings market. Composite coatings offers several advantages, such as uniform coating thickness, accuracy, stiffness, and consistency compared to powder coatings. Besides, the construction industry is one of the common end-user industries of composite coatings. These coatings are used to protect steel from corrosion in the building & construction industry. Composite coatings are used as intumescent and thermal barriers on concrete and other materials.
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Questions answered in the global composite coatings market research report:
Composite Coatings Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
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By Application |
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By End-use Industry |
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Key Market Players | Walter Hunger GmbH & Co. Kg., OM Sangyo Co., Ltd., Poeton Industries Ltd., A.W. Chesterton Company, PPG Industries, Inc., Sharretts Plating Company, Surteckariya Co., Ltd., Axalta Coating Systems, LLC, Nickel Composite Coatings, Inc., KC Jones Plating Company |
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