DUBLIN, Aug. 18, 2020 /PRNewswire/ — The “Gelcoat Market by Resin Type (Polyester, Vinyl Ester, Epoxy, and Others), End-use Industry (Marine, Transportation, Wind-Energy, Construction, and Others), and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The Global Gelcoat Market is Projected to Grow from USD 974 Million in 2020 to USD 1,808 Million by 2025, at a CAGR of 13.2%.
Composites offer exceptional properties, such as stiffness, strength, tenacity, density, thermal & electrical conductivity, fatigue, and corrosion resistance. Owing to these outstanding properties offered by the composites, they are preferred over conventional materials such as aluminum steel in high-performance applications in several end-use industries.
However, the global pandemic disease COVID-19 has forced the automotive, wind blade, and aircraft manufacturers to shut down their operations, which is expected to decrease the demand for composites in 2020.
Epoxy is the fastest-growing resin type of Gelcoats, in terms of value
Excellent chemical resistance, durability, and strength of epoxy resin make it suitable for manufacturing Gelcoat. Due to thermal and mechanical properties offered by epoxy resin-based Gelcoat, such as resistance to corrosive liquids, excellent electrical insulation, good performance at elevated temperatures, lower styrene emission as compared with polyester resins, and good adhesion strength to different varieties of reinforcements., makes it most promising segment. Due to COVID-19, lockdown conditions and halt in the production of automobiles and marine boats have reduced the demand for epoxy resin-based gelcoats.
Wind Energy is the fastest-growing end-use industry of gelcoats, in terms of value
The wind energy industry is expected to grow at the highest CAGR during the forecast period in terms of value. Chemical protection and UV resistance properties of Gelcoat are increasing its use in the wind energy industry Wind is an important source of renewable energy, and wind turbine blades are the key components in wind power generation system. Different protection technologies are used to manufacture and develop surfaces for wind turbine rotor blades.
Wind turbine rotor blade manufacturers require in-mold stable Gelcoat as the protective coating on blades. However, due to COVID-19, travel restrictions, lockdown scenario, supply chain disruption, and liquidity crunch various countries are expected to miss the wind installations target in 2020. The lower wind energy instalations will reduce the demand for composites blade and in terns Gelcoat demand in wind energy industry. Post 2020 the demand is expected to gater momentum.
APAC is the fastest-growing composites market
APAC is projected to register the highest CAGR in terms of value in the global Gelcoat market during the forecast period. The growth of the Gelcoat industry in this region is supported by the low-cost labor, the advancement of composite technology solutions, and the penetration of composites in various end-use industries.
Due to COVID-19, numerous wind blade manufacturers and automotive companies have halted their production sites across various countries that has led to reduced demand for composites, which affected the Gelcoat demand in Asian countries. The recovery in the end-use industries with restoration in the supply chain would drive the Gelcoat demand during the forecast period.
This report covers the global composites market and forecasts the market size until 2025. The report includes the market segmentation – Resin Type (Polyester, Vinyl Ester, Epoxy, and Others), End-use Industry (Marine, Wind Energy, Transportation, Construction, and Others) and Region (Europe, North America, APAC, Latin America, and MEA). Porter’s Five Forces analysis, along with the drivers, restraints, opportunities, and challenges, are discussed in the report.
It also provides company profiles and competitive strategies adopted by the major players in the global composites market. Some of the prominent players in the Gelcoat market are Ineos Enterprise (UK), Bufa Composite Systems GmBh (Germany), and HK Research Corporation (US).
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Gelcoat Market
4.2 Gelcoat Market, by End-Use Industry & Region
4.3 Gelcoat Market, by Resin
4.4 Gelcoat Market, by Country
5 Market Overview
22.214.171.124 Growing Use of Composites in Various Industries
126.96.36.199 Useful Properties Offered by Gelcoat
188.8.131.52 Increase in Demand for Gelcoat in Transportation Industry
184.108.40.206 Shift Toward Closed Molding Process Affecting Use of Gelcoat
220.127.116.11 Cracking of Gelcoat
18.104.22.168 Disruption in Supply Chain and Logistics due to COVID-19
22.214.171.124 Lower Capacity Utilization and Liquidity Crunch due to COVID-19
126.96.36.199 Growing Wind Energy Industry
188.8.131.52 Growing Demand from the APAC Region
184.108.40.206 Government Regulations for Styrene Emission
5.2 Porter’s Five Forces Analysis
5.3 Value Chain Analysis
5.4 Price Analysis
5.5 Technology Development
5.6 New Technology and Impact Analysis
5.7 Growth Influencing Factors, by End-Use Industry
6 Macroeconomic Overview and Key Trends
6.1.1 Trends and Forecast of GDP
6.1.2 Impact of COVID-19 on Aerospace Industry
220.127.116.11 Short-Term Strategies to Manage Cost Structure and Supply Chains
18.104.22.168 New Opportunities
6.2 Impact of COVID-19 on Automotive Industry
6.2.1 Short-Term Strategies to Manage Cost Structure and Supply Chains
6.2.2 Impact on Electric Vehicle (EV) Demand Due to Lower Oil Prices
6.2.3 New Opportunities
6.3 Impact of COVID-19 on Wind Energy Industry
6.3.1 Short-Term Strategies to Manage Cost Structure and Supply Chains
6.3.2 New Opportunities
7 Gelcoat Market, by Resin
7.2 Impact of COVID-19 on Gelcoat Market
7.4 Vinyl Ester
8 Gelcoat Market, by End-Use Industry
8.2 Impact of COVID-19 on End-Use Industries
8.6 Wind Energy
9 Gelcoat Market, by Region
9.2 Regional Impact of COVID-19
9.3 North America
9.6 Latin America
10 Competitive Landscape
10.2 Recent Developments
10.2.2 Agreement & Partnership
10.2.3 New Product Launch
10.2.4 Merger & Acquisition
10.3 Market Ranking of Top 5 Players in Gelcoat Market
10.4 Market Share Analysis in Gelcoat Market
10.5 Competitive Benchmarking
10.5.1 Tier 1 Companies
10.5.1.1 Dynamic Differentiators
10.5.2 Competitive Benchmarking of Tier 1 Companies
10.5.2.1 Strength of Product Portfolio
10.5.2.2 Business Strategy Excellence
10.5.3 Tier 2 and 3 Companies
10.5.3.1 Dynamics Differentiators
10.5.3.4 Emerging Companies
10.5.4 Competitive Benchmarking Tier 2 and 3 Companies
10.5.4.1 Strength of Product Portfolio
10.5.4.2 Business Strategy Excellence
11 Company Profiles
11.1 Ineos Enterprise
11.2 Bufa Composite Systems GmbH
11.3 HK Research Corporation
11.5 Scott Bader Company
11.6 Poliya Composites Resins and Polymers
11.7 Interplastic Corporation
11.8 Alpha Owens-Corning (AOC) Aliancys
11.9 Polynt-Reichhold Group
11.10 Turkuaz Polyester
11.11 Other Companies
11.11.1 Sika Advanced Resins
11.11.2 GRM Systems S.R.O.
11.11.3 Satyen Polymers
11.11.4 Vikram Resins and Polymers
11.11.5 Mader Group
11.11.7 Zhejiang Leader Composite Co. Ltd.
11.11.8 Changzhou Huake Polymers Co. Ltd.
11.11.9 Eternal Synthetic Resins (Changsu) Co. Ltd.
11.11.10 Jiangsu Fullmark Chemicals Co. Ltd. China
For more information about this report visit https://www.researchandmarkets.com/r/tywew4
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