According to Fact.MR, by 2031 , sales of glass flake coatings are projected to be valued at just under US$2 billion , expanding at a CAGR of approximately 3% over the 2021-2031 assessment period . it was worth an estimated $1.4 billion in 2016 and has seen a significant increase in recent years. COVID-19 reached just over $1 billion in 2020, significantly reducing growth prospects due to disruptions to key industrial activity. , a flat infection curve is expected to allow industrial operations to resume and restore projections of previous infectious disease levels.
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According to the International Chamber of Shipping, the total value of annual global maritime trade in 2019 was more than $14 trillion. In terms of volume, approximately 11 billion tonnes of cargo is transported by sea each year, or about 1.5 tonnes per person based on current world population levels.
Therefore, documenting the huge expense on transportation infrastructure, we adopted glass flake coatings, guiding us to use protective solutions to prevent aging due to abrasion.
Main content of market research
- Epoxy glass flake coating is the most widely used, reaching an estimated $890 million by 2031.
- Vinyl ester coatings to experience increased uptake expanding at a CAGR of approximately 3% by 2031
- Polyester glass flake coatings capable of experiencing a CAGR of over 2% during the forecast period
- For the end user industry, the demand for sea glass flake coatings will grow at a CAGR of approximately 5%.
- By substrate, steel glass flake coating accounts for about 40% of the total market
- Demand for glass flake coatings in the United States is expected to grow to more than $400 million in 2020.
- The Chinese market will register a CAGR of approximately 6%, reaching approximately USD 380 million for overall vessel maintenance.
Fact.MR analysts said, “Top-notch manufacturers will find huge growth opportunities in key Asian markets, including China and India.
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competition composition
Leading manufacturers of glass flake coatings rely on various expansion strategies, from offering innovative products to forming strategic alliances to acquiring existing companies on the market.
- For example, Chemiprotect Engineers is 100% solid and offers a wide variety of glass flake coating and coating systems made with epoxies, polyesters, vinyl esters, novalac vinyl esters, novalac epoxies, and Bisponel.
- In January 2020, Corossioneering Group, through its subsidiary COROCOAT, launched a new epoxy glass flake coating that provides long-lasting chemical protection in aggressive weather conditions and flooded environments.
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Main market segments served
- temperament
- steel glass flake coating
- glass flake coating
- resin
- epoxy glass flake coating
- vinylester glass flake coating
- polyester coating with glass flakes
- Final consumer industry
- Glass flake coating for oil and gas
- Glass flake coating for the nautical industry
- Glass flake coating for the chemical and petrochemical industries
- Glass etching coatings for other end-use industries
- region
- North America
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- England
- France
- Spain
- Italy
- Russia
- rest of europe
- East Asia
- South Asia
- Oceania
- Australia
- Rest of Oceania
- Middle East and Africa
- TCG
- South Africa
- Rest of MEA
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