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Abrasion Resistant Coatings Market worth 8.46 Billion USD by 2021
The report "Abrasion Resistant Coatings Market by Type (Ceramic Based and Polymer Based), by Application (Oil & Gas, Industrial, Marine, Power Generation, Infrastructure, Transport, and Others), by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Global Trends & Forecasts to 2021", The global abrasion resistant coatings market size is estimated to grow from USD 6.24 Billion in 2016 to USD 8.46 Billion by 2021, at a CAGR of 6.3% during the forecast period.
Browse 262 market data Tables and 56 Figures spread through 205 Pages and in-depth TOC on "Abrasion Resistant Coatings Market by Type (Ceramic Based and Polymer Based), by Application (Oil & Gas, Industrial, Marine, Power Generation, Infrastructure, Transport, and Others), by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) - Global Trends & Forecasts to 2021"
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The market is driven by increasing demand for abrasion resistant coatings in emerging markets and high demand from various applications such as oil & gas, industrial, marine, power generation, infrastructure, and transportation. Asia-Pacific is projected to witness strong growth in the future. Growth in this region can be attributed to high demand from emerging markets such as China and India.
Oxide and epoxy, the largest sub-types of abrasion resistant coatings
The growing popularity of various types of abrasion resistant coatings such as metal/ceramic and polymer in various end-use applications plays a significant role in driving the market of abrasion resistant coatings. Oxide abrasion resistant coatings accounted for the maximum share, in terms of value, of the overall market due to their excellent wear resistant and insoluble properties. The rising demand for environmentally friendly abrasion resistant coatings such as volatile organic compounds (VOCs)-free coatings in countries such as Germany and France is expected to drive this market.
Oil & gas, the fastest-growing application segment for abrasion resistant coatings
In 2015, North-America dominated the abrasion resistant coatings market and also registered the highest growth rate between 2016 and 2021. The North-America region is projected to register significant growth rate, both in terms of value and volume, owing to high demand from the U.S. and Canada. The U.S. is the largest market for abrasion resistant coatings with major demand coming from the oil & gas industry.
The key companies profiled in the abrasion resistant coatings market research report are Akzonobel NV (Netherlands), Saint-Gobain (France), Jotun A/S (Norway), The Sherwin-Williams Company (U.S.), Hempel A/S (Denmark), Paraxair Surface Technologies Incorporation (U.S.), Sika AG (Switzerland), Hardide PLC (U.K.), The Bodycote Group (U.K.), and PPG industries (U.S.).
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