The market value Abrasion Resistant Coatings Market is expected to grow by USD 7.07 Billion in 2018 and is expected to grow by USD 9.69 Billion by 2023 at the CAGR of about 6.5%. The development and rise in the industrial sector for improved products tend to take the market to heights.
The developing and rising demand in the industrial sector for novel and improved products drive the rise in use of abrasion resistant coatings. The significant growth and innovation project to entail the 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 the uses in end-use application driving the abrasion resistant coatings market. The continuous growing demand for high-temperature polymer-based coatings, increasing the need for superior quality ceramic-based coatings and rising economies drives 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.
Market segmentation:
The abrasion resistant coatings market has different segments as type, applications, and regions. The type, segment has a distribution like a polymer and metal/ ceramic. The metal / ceramic abrasion resistant coatings segment is the fastest growing segment. The rising demand for environmental friendly or volatile organic compounds VOCs free abrasion resistant coatings in various countries leads the market. The application segment has varied sub-segments as oil & gas, industrial, marine, power generation, infrastructure, transportation, and other applications as food processing, electronics, consumer goods, and pulp and paper. 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 leads the market.Geographically, the abrasion resistant coatings market the segments as North America, South America, Europe, the Middle East, and Africa and Asia-Pacific. North America is the largest producer and consumer for product. Europe is the second largest consumer for abrasion resistant coatings market. Asia-Pacific is the highest rising and developing regions for the market in the world. China and India are the leading countries from Asia-Pacific as the availability of low cost of raw material and labor, with little requirement for technical knowledge.
Recent Development
Morgan Crucible Company has acquired the company Diamonex. Diamonex is the leading international supplier of high-performance products, coating services, and equipment based on CVD diamond and Diamond-like carbon technology. The products used at various end-use industries like automotive, aerospace, retail and business systems, medical and biotechnology equipment. The acquisition brings leading-edge technology to E/M. It provides additional resources needing to support the growing customer base and ensuring the growth plans. The B9Creations providing the 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 the strength to metals as thermos-chemical surface treatments like hardening, nitriding, carbonating improves the wear resistance in forming tools. Hard and corrosion-resistant coatings like nitrides and carbides of titanium and chromium used in protecting the tools and extending the uses. The coatings suits in avoiding annoying problems and prevents forming tool wear and lower tool maintenance costs.
Key Market 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 the paints and coating company globally. The company has been providing the services in decorative paints, lacquers, varnishes, the range of mixing machines and color concepts for the building and renovation industry. The company also provides the performance for wood, metal, and other building materials under various brands as Dulux, Coral, Levis, and Flexa. The product also used to provide performance coatings to protect and enhance ships, cars, and yachts.
Research key highlights:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Cermaic Based
5.1.3 Polymer Based
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2 Application
5.2.1 Introduction
5.2.2 Oil & Gas
5.2.3 Industrial
5.2.4 Marine
5.2.5 Power Generation
5.2.6 Infrastructure
5.2.7 Transport and Others
5.2.8 Y-o-Y Growth Analysis, By Application
5.2.9 Market Attractiveness Analysis, By Application
5.2.10 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By Application
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Akzonobel NV
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Saint Gobain
8.3 Jotun A/s
8.4 The Sherwin-Williams Company
8.5 Hempel
8.6 Paraxair Surface Technologies Incorporation
8.7 Saika AG
8.8 Hardide PLC
8.9 The Bytecote Group
8.10 PPG Industries
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
