DUBLIN, Oct. 06 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/z4j4qp/gelcoat_market_by) has announced the addition of the "Gelcoat Market by Resin Type (Polyester, Vinyl Ester, Epoxy, and Others), by End-Use Industry (Marine, Transportation, Construction, Wind, and Others) & by Region - Trends & Forecast to 2020" report to their offering.
The global demand for gelcoats is projected to reach USD 1,233 Million by 2020, registering a CAGR of 7.60% between 2015 and 2020.; marine industry is the largest consumer of gelcoats
Gelcoats are specifically developed and produced as an in-mold surface coating which is used to provide aesthetic look to the composites part and protect the parts substrate from the various elements. There are various polymeric resins used to manufacture gelcoats such as polyester, vinyl ester, epoxy, and others (polyurethane, phenolic, acrylic, and so on). Gelcoats are used in different end-use industries such as marine, transportation, construction, wind energy industry, and others.
The global gelcoats market, along with its various resin types and end-user industries, has witnessed considerable growth in recent years and this growth is projected to persist in the coming years. The marine and transportation industries are the largest markets for gelcoats and cumulatively held a share of more than 50% of the overall gelcoats market in 2014. The wind energy and transportation industries are projected to be the driving force for the growth of the gelcoats market between 2015 and 2020.
North America dominated the global gelcoats market, followed by Europe. The dominance by North America and Europe is attributed mainly to the growing marine and transportation industries in the two regions. Asia-Pacific is projected to be the second-fastest growing market for gelcoats due to its budding wind energy and transportation industries in the region. The market volume of gelcoats is comparatively low in the RoW region, but is projected to witness the highest growth rate during the forecast period (2015 - 2020).
On the basis of resins, polyester resin gelcoat holds the biggest chunk of the market as it is widely used in the wind energy, marine, transportation, and construction industries. Vinyl ester resin gelcoat holds a considerable market share, mainly, due the growing marine industry in North America. Epoxy resin gelcoat is expected to witness a healthy growth rate on account of the budding wind energy and transportation industries in Asia-Pacific and RoW.
The global gelcoats market is highly competitive and is mainly dominated by major established players. The key players in the gelcoats market are H.K. Research Corporation (U.S.), Scott Bader Company Ltd. (Europe), Reichhold LLC (U.S.), Ashland Inc. (U.S.), Polynt S.p.A (Europe), and others.
The major strategies adopted by the key players for enhancing their business revenue are agreements, joint ventures & partnerships, mergers & acquisitions, new product & technology launches, and expansions.
- Alpha Owens-Corning (AOC) Resins
- Ashland Inc.
- Bufa Composite Systems GmbH & Co. Kg.
- HK Research Corporation
- Interplastic Corporation
- Nuplex Industries Ltd.
- Poliya Composites Resins and Polymers Inc.
- Polynt Spa (Polynt Composites USA Inc.)
- Reichhold Llc
- Scott Bader Company Limited
For more information visit http://www.researchandmarkets.com/research/z4j4qp/gelcoat_market_by
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SOURCE Research and Markets