Abrasion Resistant Coatings Market

Abrasion Resistant Coatings Market Size-(2023-2028)

The abrasion-resistant coatings market was expected to grow by USD 9.07 Billion in 2022 and is expected to grow by USD 11.69 Billion by 2028 at a CAGR of about 8.5% during the forecast period.

Abrasion Resistant Coatings Market Driver and Restraints:

The developing and rising demand in the industrial sector for novel and improved products drives the rise in the use of abrasion-resistant coatings. The significant growth and innovation project entails a bright future for the market in the region. The continuously growing popularity of the various type of abrasion-resistant coatings as metal/ ceramic and polymer have used in end-use applications driving the abrasion-resistant coatings market. The continuously growing demand for high-temperature polymer-based coatings, increasing the need for superior quality ceramic-based coatings, and rising economies drive the market high for the abrasion-resistant coatings market. The abrasion-resistant coating displays excellent wear attributes and chemical resistance. The rising demand for low-VOC, increasing need for environmental-friendly coatings, and growing demand for oxide coatings boost the abrasion coating-resistant market. The capital investment is high and environmental & safety concerns with slow growth in industrial and infrastructure sectors have the restraining factors for the growth of the abrasion coating-resistant market.

ABRASION-RESISTANT COATINGS MARKET REPORT COVERAGE:

Abrasion Resistant Coatings Market segmentation as per the research report until 2028

Abrasion Resistant Coatings Market - By Type

• Polymer

• Metal/ Ceramic

The metal / ceramic abrasion-resistant coatings segment is the fastest-growing segment. The rising demand for environmentally friendly or volatile organic compounds VOCs free abrasion resistant coatings in various countries leads the market.

Abrasion Resistant Coatings Market - By Application

• Oil & Gas

• Industrial

• Marine

• Power Generation

• Infrastructure

• Transportation

Oil and gas segment is expected to lead the market with the presence of manufacturing sites of major industry players in the country. The need for better drilling equipment and resistant coatings on pipelines provides better performance in vulnerable environments leading the market.

Abrasion Resistant Coatings Market - By Region

• North America

• South America

• Europe

• Middle East & Africa

• Asia-Pacific

North America is the largest producer and consumer of products. Europe is the second-largest consumer of the abrasion-resistant coatings market. Asia-Pacific is the highest rising and developing region for the market in the world. China and India are the leading countries in Asia-Pacific in the availability of low-cost raw materials and labor, with little requirement for technical knowledge.

Recent Developments

• Morgan Crucible Company has acquired the company Diamox. Diamox is the leading international supplier of high-performance products, coating services, and equipment based on CVD diamond and Diamond-like carbon technology. The products are used in various end-use industries like automotive, aerospace, retail and business systems, and medical and biotechnology equipment. The acquisition brings leading-edge technology to E/M. It provides additional resources needed to support the growing customer base and ensure growth plans.

• B9Creations provides services in 3D printing solutions and SDC Technologies, the market leader in Premium optical coatings recently unfolded the news of opening the new state-of-the-art additive manufacturing materials development laboratory at B9Creations’ Rapid City headquarters. The developing trend to provide strength to metals as thermos-chemical surface treatments like hardening, nitriding, and carbonating improve the wear resistance in forming tools. Hard and corrosion-resistant coatings like nitrides and carbides of titanium and chromium are used in protecting the tools and extending their uses. The coatings suit in avoiding annoying problems and preventing forming tool wear and lower tool maintenance costs.

Abrasion Resistant Coatings Market Key Players:

AkzoNobel NV, Saint Gobain, Jotun A/S, The Sherwin-Williams Company, Hempel, Praxair Surface Technologies Incorporation, Saika AG, Hardide PLC, The Bodycote Group and PPG industries are the major competitors for the abrasion-resistant coatings market. Akzo Nobel NV works as a paints and coating company globally. The company has been providing services in decorative paints, lacquers, varnishes, a range of mixing machines, and color concepts for the building and renovation industry. The company also provides performance for wood, metal, and other building materials under various brands as Dulux, Coral, Levis, and Flexa. The product is also used to provide performance coatings to protect and enhance ships, cars, and yachts.