The glass flake coatings market was estimated to be USD 1.47 billion in 2022 and is predicted to reach USD 2.1 billion by 2028, with a CAGR of 5.01% during the foreseen period. The escalating call for advanced, high-performance coatings to protect steel and concrete tanks, pipelines, and onshore infrastructure has led to an increase in the call for flake glass flake coatings from the marine industry. The glass flake coating consists of a resin matrix coated with 1-micron thick glass and appropriately sized flakes that can be bonded in multiple layers forming a barrier to permeability and prolonging the life of the glass coating. Glass flake coating is a type of coating that contains glass flake, which is transparent, making them little interfering with the rest of the coating material. Glass flakes have good resistance to chemicals, oil, gas, moisture, etc. They are also employed to improve the mechanical properties of coatings while escalating hardness and imparting fire resistance. The worldwide market for glass flake coatings is driven primarily by the rising call for substrate coating for steel and concrete for use in the marine, chemical, and oil industries.
The escalating need to improve the performance and service life of equipment and devices is predicted to drive the call for glass flake coatings in the oil and gas, marine, chemical, and construction industries for years to come. The expansion of the offshore oil and gas industry due to escalating energy calls is predicted to lead to a strong call for glass flake liners in new pipeline construction projects during the foreseen period. Furthermore, the expansion of the maritime industry due to the rising world trade with trans-free trade agreements is predicted to greatly boost the call for glass flake coatings for construction and maintenance projects.
Expansion in the glass flake coatings market may be held back by weak expansion in the industrial sector in Europe. This slow expansion is due to the decline of the chemical, petrochemical, and marine industries in the area.
The growing scope of applications in the chemical and petrochemical industry is a key factor that is predicted to support the market's potential revenue expansion in the coming years. In addition, various characteristics and advantages offered by glass flake coatings, such as high-temperature resistance, high tensile strength, and others, are other factors that can drive the adoption of these products, which in turn, are predicted to drive target market expansion over the outlook period. Furthermore, glass flake coating finds application in different industrial sectors with improved efficiency, which in turn is predicted to drive worldwide market expansion in the coming years.
The fluctuation in the price of flake glass coatings is likely to hamper market expansion to some extent during the outlook period. Additionally, escalated protection in some areas can encourage local production and consumption, which can hamper the marine industry and limit the expansion of flake glass coatings in the next few years.
REPORT METRIC |
DETAILS |
Market Size Available |
2022-2028 |
Base Year |
2022 |
Forecast Period |
2023-2028 |
CAGR |
5.01% |
Segments Covered |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
|
Market Leaders Profiled |
AkzoNobel, BASF, Berger Paints, Chemiprotect Engineers, Chugoku Marine, Clean Coats, Corrosioneering Group, Demech Chemicals, Dulux Group, Grauer & Weil Hempel, Jotun, KCC Corporation, Kansai Paints, Nippon Paint, PPG Industries, RPM International, The Sherwin-Williams, Specialized Coating Systems, Winn & Coales, Yung Chi Paint & Varnish. |
By Resin Type:
Epoxy is a widely employed type of glass flake coating. The epoxy segment is predicted to dominate the market owing to its high-temperature resistance and compatibility with different substrates employed in a wide range of end-use industries.
Metal
Concrete
Metal substrates are highly employed in various end-use industries, such as petrochemicals, wastewater treatment, and marine. The use of metallic substrates has escalated in shipbuilding, offshore and onshore platforms, pipelines, and storage tanks.
Oil and gas
Marine
Power generation industrial
Wastewater treatment
The call for glass flake coatings in the maritime industry is escalating at an accelerated rate due to its resistance to high temperatures and water; and high tensile strength. The expansion of the shipbuilding industry is also driving the call for flake glass liners.
The Glass Flake Coatings Report includes the segmentation of Regions with their respective Countries.
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
The Asia Pacific glass flake coatings market is predicted to experience the highest expansion from 2021 to to 2026, in terms of value and volume. Companies in the glass flake coatings are focusing on this area, as the area’s chemical and shipbuilding industries are the most important. The Chinese market for glass flake coatings has grown rapidly in recent years and is predicted to see a strong expansion in the near future, due to the large number of chemical and shipbuilding industries established in the country. Nations like India, Indonesia, and Australia are witnessing significant progress in marine, chemical and petrochemical projects that are predicted to drive the expansion of the glass flake coatings market in these countries. The Asia Pacific glass flake coatings market is estimated to have the highest revenue share during the estimated period. There are many chemical and shipbuilding industries in the region, especially in China and South Korea. North America and Europe are foreseen to record the consistent call for glass flake coatings during the projection period. End-use industries like chemicals and construction are predicted to contribute significantly to market expansion in the future. The Middle East, Africa, and Latin America are likely to show escalating calls for flake glass coatings during the outlook period. The market in the region is predicted to develop at a moderate pace over the predicted period due to the expansion of the oil and gas industry in these regions.
AkzoNobel has launched a new high-quality epoxy coating that contains a high level of laminated glass flakes for better protection against abrasion and corrosion.
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