Gelcoat Market

Gelcoat Market by Resin Type (Polyester, Vinyl Ester, Epoxy), End Use Industry (Marine, Transportation, Construction, Wind Energy), Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America)-Global Forecast to 2024

Report Code: CH 3754 Feb, 2019, by marketsandmarkets.com
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[130 Pages Report] The gelcoat market is projected to grow from USD 1.2 billion in 2019 to USD 1.7 billion by 2024, at a CAGR of 8.0% between 2019 and 2024. The market is growing due to the high demand from wind energy, construction, transportation, and marine industries.  

Gelcoat Market

Marine is expected to the largest end-use industry of gelcoat between 2019 and 2024.

Glass fiber reinforced plastics are widely used in the marine industry. Entire decks and complete ship hulls for powerboats or sailing/motor yachts are completely made up of high-quality glass fiber reinforced plastics. The use of fiber reinforced plastics increases the usage of gelcoat in the marine industry as gelcoat improves the aesthetic quality of fiberglass products and provides corrosion resistance to structural layered materials. Sunlight and harmful UV radiation lead to loss of gloss and color change. Therefore, the use of gelcoat in the marine industry needs to be based on its durability and resistance to sunlight and moisture. Gelcoat is used in various applications in the marine industry, such as yachts, boat hulls, boat decks, and hatches.

Polyester resin accounted for a major share in the gelcoat market, in terms of both value and volume during the forecast period.

Polyester is the most widely used resin for gelcoat. Polyester resin is easily available and has a low price. It also offers various useful properties such as resistance to water and chemicals and low shrinkage. These properties enable the polyester resin-based gelcoat to be widely used in the marine and construction industries. Polyester resins used in gelcoats offer durability to molds and parts.

APAC is expected to lead the gelcoat market during the forecast period.

APAC is a key gelcoat market. The booming transportation and construction industries are responsible for the growth of the gelcoat market in the region. China is one of the prominent consumers of gelcoat in the region. The country has become the single-largest consumer of gelcoat in the wind energy industry and is expected to strengthen its position further. APAC has a presence of major gelcoat manufacturers such as Satyen Polymers and Vikram Resins and Polymers.

Gelcoat Market

Market Dynamics

Driver: Growing use of composites in various industries

Over the past few decades, the use of composites in various industries such as marine, wind energy, construction, transportation, aerospace, and military & defense has undergone a notable transformation. The demand for composites in various end-use industries is increasing drastically because of stringent government regulations, awareness regarding environmental protection, and lighter weight compared to other materials. Although composites are expensive than traditional materials such as wood, aluminum, steel, they provide many benefits such as corrosion resistance, higher tensile strength, and fuel and weight savings over traditional materials across different applications. Parts, components, and molds made from composites require versatile and durable coatings, i.e., gelcoats.

The use of gelcoat in composite parts or molds ranges from the applications in the marine and wind energy industries to sanitaryware applications. The mixture of fiberglass and carbon composites is used in the manufacturing of wind blades to improve stiffness and tensile strength. GFRP is used in the manufacturing of wind blades, and CFRP is used in energy storage batteries. Gelcoats are used in the composite parts of blades, thereby, providing adequate chemical protection and UV resistance properties. The increasing use of composites in various industries is contributing to the growing demand for gelcoat.

Restraint: Shift toward closed molding process affecting the use of gelcoats

Closed molding and open molding are the two main processes employed in the making of composites parts. Open molding is widely employed for the manufacturing of bathtubs, spas, shower stalls, decks, boat hulls, and others. This process involves a spray up process and a hand lay-up process along with the use of gelcoats. However, over the past few years, the use of the open molding process where gelcoats are used is declining. Subsequently, the growth of closed molding and the decline of the open molding process is restraining the growth of the gelcoat market.

Polyester resin is widely used for gelcoat, and styrene is the main monomer in the polyester resin-based gelcoats. Styrene emissions pose a major problem for open mold fiberglass and gelcoats. In the open molding process, the reinforcing resins and fibers are placed in a mold and are open to air. This poses a risk to the environment and health since high VOC levels from styrene are harmful. Stringent rules and regulations, especially in North America and Europe relating to the worker exposure limits and emission limits of hazardous air pollutants and VOCs in the environment have led to a shift toward the closed molding process.

Gelcoat is not used mostly in the closed molding process. The closed molding process includes the vacuum infusion process (VIP), light resin transfer moulding (LRTM), closed cavity bag moulding (CCBM), and other processes. Under the closed molding process, the resin is not directly exposed to air and is processed when the mold is closed tightly so that no styrene and VOC are released to the environment. These processes have the potential to improve the quality of the product manufactured, reduce cycle times, reduce emissions, lower labor costs, and improve productivity. Due to the increasing pressure from government bodies, mold and composite manufacturers are employing the closed molding process. This is restricting the growth of the gelcoat market since gelcoat is not suitable for closed molding process.

Opportunity: Emerging wind energy industry

Gelcoats are a key component used in the wind energy industry. A wind blade is surfaced with an in-mold gelcoat. For spinners, nacelle covers, and nose cones, the commonly employed material is polyester or glass with a polyester resin-based gelcoat. Epoxy and polyurethane resin-based gelcoats can also be employed due to their superior mechanical properties. Currently, APAC is the leading gelcoat market in the wind energy industry, with China at the forefront.

It is an important goal for developed and developing countries to reduce the dependence on fossil fuel consumption and focus on renewable sources for power generation. Government and institutions all across the globe have realized the immense potential of using wind turbine for the generation of power. According to GWEC, 2015 saw a record number of 63.5 GW of wind power installation, which resulted in an increase in the global capacity to 433 GW at the end of 2015. In 2015, wind power helped avoid 637 million tons of carbon dioxide emissions, globally. There were close to 314,000 functional wind turbines in the world, in 2015. Thus, the increased number of wind installations is expected to drive the wind energy industry, thereby, posing opportunities for the gelcoat manufacturers.

The emerging wind energy industry is generating a high demand for rotor blades from wind turbine manufacturers, which requires a huge amount of gelcoats, adhesives, polyurethanes, structural foams, prepreg fabrics, fiber reinforced epoxy, or polyester. Gelcoat is added to the mold (an integral part of the casting process) for the manufacturing and production of turbine blades, and a thick layer of gelcoat is applied to provide enhanced protection of the blades. Hence, the growth of the wind energy industry is expected to contribute to the growth of the gelcoat market in the future.

Challenge: Government regulations

Styrene is the dominant monomer in polyester resin-based gelcoats, and high styrene emission has been an important point of concern for health and safety of individuals at the workplace. This poses a challenge for market growth. Many rules and regulations have been set up by the governments of different countries to lower the styrene emissions from resins and gelcoats, thereby, reducing its impact on human health and the environment. For instance, the Environment Protection Agency (EPA) has established National Emission Standards for Hazardous Air Pollutants (NESHAPs), generally called Maximum Achievable Control Technology Standards (MACT) standards. These standards set up lower limits for Hazardous Air Pollutants (HAPs) generated by a particular industry to a maximum achievable degree. EPA has recommended lowering the emission of toxic air or gases from the manufacturing facilities of boats. It has also proposed that boat manufacturers and producers must purchase resins or gelcoats that meet the toxic content limit. It has recommended non-spray technology such as flow coaters, resin impregnator, or pressure-fed rollers to apply resin in place of spray guns. In addition, the US EPA has laid down the regulation that if a particular industry fails to comply with the reduction of emissions, the EPA will have to compel the industry to install incinerators or other expensive emission control devices.

Similarly, in Europe, the REACH (Registration, Evaluation, Authorisation, and Restriction of Chemicals) and CLP (Classification, Labelling, and Packaging) regulations have introduced the specific criteria for hazard classification, product labels, and new guidelines for the material safety data sheet. The consortium of styrene has also proposed Derived No Effect Level (DNEL) for worker inhalation exposure of 20 ppm as an 8-hour time-weighted average in its REACH dossier. REACH also provides the Occupational Exposure Limits (OELs) across Europe that range from 20-100 ppm depending on the country. In addition, the Cefic Polyester and Vinyl Ester Resin Safe Handling Guides state the specific information on best practices, operating condition, and risk management measures to control exposure through the use of low styrene emission resins (LSE), low styrene content (LSC) resins, safe work practices, workplace ventilation, and personal protective equipment.

Gelcoat Market

Scope of the Report

Report Metric

Details

Years considered for the study

2017-2024

Base year

2018

Forecast period

2019-2024

Units

Value (USD Million), Volume (Kiloton)

Segments

Resin, End-use Industry, and Region

Regions

North America, Europe, APAC, Middle East & Africa (MEA), and Latin America

Companies

Ineos Enterprise (UK), Bufa Composite Systems GmbH (Germany), HK Research Corporation (US), Allnex (Germany), Scott Bader Company (UK), Poliya Composites Resins and Polymers (Turkey), Interplastic Corporation (US), Alpha Owens Corning (AOC) Aliancys (US), Polynt-Reichhold Group (US), Turkuaz Polyester (Turkey)

This research report categorizes the gelcoat market based on resin, end-use industry, and region.

On the basis of resin type, the gelcoat market has been segmented as follows:

  • Polyester
  • Vinyl ester
  • Epoxy
  • Others (polyurethane, phenolic, and acrylic)

On the basis of end-use industry, the gelcoat market has been segmented as follows:

  • Marine
  • Transportation
  • Construction
  • Wind energy
  • Others (tooling, FRP furniture, aerospace & defense, and tanks and pipes)

On the basis of region, the gelcoat market has been segmented as follows:

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • Latin America

Key Players:

The gelcoat market comprises major solution providers, such as Ineos Enterprise (UK), Bufa Composite Systems GmbH (Germany), HK Research Corporation (US), Allnex (Germany), Scott Bader Company (UK), Poliya Composites Resins and Polymers (Turkey), Interplastic Corporation (US), Alpha Owens Corning (AOC) Aliancys (US), Polynt-Reichhold Group (US), and Turkuaz Polyester (Turkey). The study includes an in-depth competitive analysis of these key players in the gelcoat market, with their company profiles, recent developments, and key market strategies.  

Scott Bader Company is one of the prime manufacturers of gelcoat in the European region. The company possesses extensive product portfolio pertaining to gelcoats. It gives immense emphasis on the development of high-grade gelcoats for usage in various end-use industries. As a part of its growth strategy, the company is highly focused on expansions. For instance, in September 2018, the company expanded its presence in the Japanese market by opening a facility named Scott Badder Japan KK.

Recent Developments

  • In May 2018, Scott Bader Company entered into a strategic agreement with HK Research Corporation to enhance its R&D activities pertaining to gelcoats.
  • In September 2018, Bufa Composite System GmbH developed a new conductive gelcoat, which is capable of eliminating electrostatic charges. It also increases the component quality.
  • In November 2018, Ineos Enterprise entered into a definitive agreement with Ashland Inc. for taking over Ashland’s composite business segment that offers gelcoat. The agreement helped the company consolidate its product portfolio.

Key Questions Addressed by the Report

  • Which are the major end use industries of gelcoat?
  • Which industry is the major consumer of gelcoat?
  • Which region is the largest and fastest-growing market for gelcoat?
  • What are the major resins used in manufacturing gelcoat?
  • What are the major strategies adopted by the leading market players?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Currency
    1.5 Unit Considered
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Opportunities in the Gelcoat Market
    4.2 Gelcoat Market, By End-Use Industry
    4.3 Gelcoat Market, By Resin
    4.4 Gelcoat Market, By Country

5 Market Overview (Page No. - 30)
    5.1 Introduction
    5.2 Drivers
           5.2.1 Growing Use of Composites in Various Industries
           5.2.2 Useful Properties Offered By Gelcoat
           5.2.3 Increase in Demand for Gelcoat in the Transportation Industry
    5.3 Restraints
           5.3.1 Uncertainty in Ptc Affecting the Wind Energy Industry
           5.3.2 Shift Toward Closed Molding Process Affecting the Use of Gelcoat
           5.3.3 Cracking of Gelcoat
    5.4 Opportunities
           5.4.1 Emerging Wind Energy Industry
           5.4.2 Growing Demand From the APAC Region
    5.5 Challenges
           5.5.1 Government Regulations
    5.6 Porter’s Five Forces Analysis
           5.6.1 Threat of New Entrants
           5.6.2 Threat of Substitutes
           5.6.3 Bargaining Power of Suppliers
           5.6.4 Bargaining Power of Buyers
           5.6.5 Intensity of Competitive Rivalry
    5.7 Value Chain Analysis
    5.8 Price Analysis
    5.9 Technology Development
    5.10 New Technology and Impact Analysis
    5.11 Growth Influencing Factors, By End-Use Industry

6 Macroeconomic Overview and Key Trends (Page No. - 39)
    6.1 Introduction
    6.2 Trends and Forecast of GDP
    6.3 Trends of the Automotive Industry
    6.4 Trends and Forecast of the Construction Industry

7 Gelcoat Market, By Resin (Page No. - 46)
    7.1 Introduction
    7.2 Polyester
           7.2.1 Polyester Resin-based Gelcoat Market, By Region
    7.3 Vinyl Ester
           7.3.1 Vinyl Ester Resin-based Gelcoat Market, By Region
    7.4 Epoxy
           7.4.1 Epoxy Resin-based Gelcoat Market, By Region
    7.5 Others
           7.5.1 Other Resins-based Gelcoat Market, By Region

8 Gelcoat Market, By End-Use Industry (Page No. - 53)
    8.1 Introduction
    8.2 Marine
           8.2.1 Gelcoat Market in Marine Industry, By Region
    8.3 Transportation
           8.3.1  Gelcoat Market in Transportation Industry, By Region
    8.4 Construction
           8.4.1 Gelcoat Market in Construction Industry, By Region
    8.5 Wind Energy
           8.5.1 Gelcoat Market in Wind Energy Industry, By Region
    8.6 Others
           8.6.1 Gelcoat Market in Other Industries, By Region

9 Gelcoat Market, By Region (Page No. - 61)
    9.1 Introduction
    9.2 North America
           9.2.1 North America: Gelcoat Market Size, By Resin
           9.2.2 North America: Gelcoat Market Size, By End-Use Industry
           9.2.3 US
                    9.2.3.1 US: Gelcoat Market Size, By Resin
                    9.2.3.2 US: Gelcoat Market Size, By End-Use Industry
           9.2.2 Canada
                    9.2.3.1 Canada: Gelcoat Market Size, By Resin
                    9.2.3.2 Canada: Gelcoat Market Size, By End-Use Industry
    9.3 Europe
           9.3.1 Europe: Gelcoat Market Size, By Resin
           9.3.2 Europe: Gelcoat Market Size, By End-Use Industry
           9.3.3 Germany
                    9.3.3.1 Germany: Gelcoat Market Size, By Resin
                    9.3.3.2 Germany: Gelcoat Market Size, By End-Use Industry
           9.3.4 Italy
                    9.3.4.1 Italy: Gelcoat Market Size, By Resin
                    9.3.4.2 Italy: Gelcoat Market Size, By End-Use Industry
           9.3.5 France
                    9.3.5.1 France: Gelcoat Market Size, By Resin
                    9.3.5.2 France: Gelcoat Market Size, By End-Use Industry
           9.3.6 UK
                    9.3.6.1 UK: Gelcoat Market Size, By Resin
                    9.3.6.2 UK: Gelcoat Market Size, By End-Use Industry
    9.4 APAC
           9.4.1 APAC: Gelcoat Market Size, By Resin
           9.4.2 APAC: Gelcoat Market Size, By End-Use Industry
           9.4.3 China
                    9.4.3.1 China: Gelcoat Market Size, By Resin
                    9.4.3.2 China: Gelcoat Market Size, By End-Use Industry
           9.4.4 India
                    9.4.4.1 India: Gelcoat Market Size, By Resin
                    9.4.4.2 India: Gelcoat Market Size, By End-Use Industry
           9.4.5 Japan
                    9.4.5.1 Japan: Gelcoat Market Size, By Resin
                    9.4.5.2 Japan: Gelcoat Market Size, By End-Use Industry
    9.5 Latin America
           9.5.1 Latin America: Gelcoat Market Size, By Resin
           9.5.2 Latin America: Gelcoat Market Size, By End-Use Industry
           9.5.3 Brazil
                   9.5.3.1 Brazil: Gelcoat Market Size, By Resin
                   9.5.3.2 Brazil: Gelcoat Market Size, By End-Use Industry
           9.5.2 Mexico
                   9.5.4.1 Mexico: Gelcoat Market Size, By Resin
                   9.5.4.2 Mexico: Gelcoat Market Size, By End-Use Industry
    9.6 MEA
           9.6.1 MEA: Gelcoat Market Size, By Resin
           9.6.2 MEA: Gelcoat Market Size, By End-Use Industry
           9.6.3 UAE
                    9.6.3.1 UAE: Gelcoat Market Size, By Resin
                    9.6.3.2 UAE: Gelcoat Market Size, By End-Use Industry
           9.6.4 Saudi Arabia
                    9.6.4.1 Saudi Arabia: Gelcoat Market Size, By Resin
                    9.6.4.2 Saudi Arabia: Gelcoat Market Size, By End-Use Industry

10 Competitive Landscape (Page No. - 91)
     10.1 Overview
     10.2 Recent Developments
             10.2.1 Expansion
             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 the Gelcoat Market
     10.4 Competitive Benchmarking
             10.4.1 Tier 1 Companies
                        10.4.1.1 Dynamic Differentiators
                        10.4.1.2 Innovators
                        10.4.1.3 Vanguard
                        10.4.1.4 Emerging
             10.4.2 Competitive Benchamarking of Tier 1 Companies
                        10.4.2.1 Product Offering
                        10.4.2.2 Business Strategy
             10.4.3 Tier 2 and 3 Companies
                        10.4.3.1 Dynamics Differentiators
                        10.4.3.2 Innovators
                        10.4.3.3 Vanguard
                        10.4.3.4 Emerging Companies
             10.4.4 Competitive Benchamarking Tier 2 and 3 Companies
                        10.4.4.1 Product Offering
                        10.4.4.2 Business Strategy

11 Company Profiles (Page No. - 100)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     11.1 Ineos Enterprise
             11.1.1 Business Overview
             11.1.2 Products Offered
             11.1.3 Recent Developments
             11.1.4 SWOT Analysis
             11.1.5 Winning Imperatives
             11.1.6 Current Focus and Strategies
             11.1.7 Threat from Competition
             11.1.8 Ineos Enterprise’s Right to Win
     11.2 BUFA Composite Systems GmbH
             11.2.1 Business Overview
             11.2.2 Products Offered
             11.2.3 Recent Developments
             11.2.4 SWOT Analysis
             11.2.5 Winning Imperatives
             11.2.6 Current Focus and Strategies
             11.2.7 Threat from Competition
             11.2.8 BUFA Composite’s Right to Win
     11.3 HK Research Corporation
             11.3.1 Business Overview
             11.3.2 Products Offered
             11.3.3 Recent Developments
             11.3.4 SWOT Analysis
             11.3.5 Winning Imperatives
             11.3.6 Current Focus and Strategies
             11.3.7 Threat from Competition
             11.3.8 HK Research Corporation’s Right to Win
     11.4 Allnex
             11.4.1 Business Overview
             11.4.2 Products Offered
             11.4.3 Recent Developments
             11.4.4 SWOT Analysis
             11.4.5 Winning Imperatives
             11.4.6 Current Focus and Strategies
             11.4.7 Threat from Competition
             11.4.8 Allnex’s Right to Win
     11.5 Scott Bader Company
             11.5.1 Business Overview
             11.5.2 Products Offered
             11.5.3 Recent Developments
             11.5.4 SWOT Analysis
             11.5.5 Winning Imperatives
             11.5.6 Current Focus and Strategies
             11.5.7 Threat from Competition
             11.5.8 Scott Bader’s Right to Win
     11.6 Poliya Composites Resins and Polymers
             11.6.1 Business Overview
             11.6.2 Products Offered
             11.6.3 Recent Developments
             11.6.4 MnM View
     11.7 Interplastic Corporation
             11.7.1 Business Overview
             11.7.2 Products Offered
             11.7.3 Recent Developments
             11.7.4 MnM View
     11.8 Alpha Owens-Corning (AOC) Aliancys
             11.8.1 Business Overview
             11.8.2 Products Offered
             11.8.3 Recent Developments
             11.8.4 MnM View
     11.9 Polynt-Reichhold Group
             11.9.1 Business Overview
             11.9.2 Products Offered
             11.9.3 Recent Developments
             11.9.4 MnM View
     11.10 Turkuaz Polyester
              11.10.1 Business Overview
              11.10.2 Products Offered
              11.10.3 Recent Developments
              11.10.4 MnM View
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
     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
             11.11.6 Resoltech
             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

12 Appendix (Page No. - 125)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets Subscription Portal
     12.3 Available Customizations
     12.4 Related Reports
     12.5 Author Details


List of Tables (92 Tables)

Table 1 Gelcoat Market Size, 2017–2024
Table 2 Trends and Forecast of GDP, USD Billion (2017–2022)
Table 3 Automotive Production, Million Units (2011-2017)
Table 4 Contribution of the Construction Industry in North America, USD Billion (2015–2022)
Table 5 Contribution of the Construction Industry in Europe, USD Billion (2015–2022)
Table 6 Contribution of the Construction Industry in APAC, USD Billion (2015–2022)
Table 7 Contribution of the Construction Industry in MEA, USD Billion (2015–2022)
Table 8 Contribution of the Construction Industry in Latin America, USD Billion (2015–2022)
Table 9 Gelcoat Market Size, By Resin, 2017–2024 (Kiloton)
Table 10 Gelcoat Market Size, By Resin, 2017–2024 (USD Million)
Table 11 Polyester Resin-Based Gelcoat Market, By Region, 2017–2024 (Kiloton)
Table 12 Polyester Resin-Based Gelcoat Market, By Region, 2017–2024 (USD Million)
Table 13 Vinyl Ester Resin-Based Gelcoat Market, By Region, 2017–2024 (Kiloton)
Table 14 Vinyl Ester Resin-Based Gelcoat Market, By Region, 2017–2024 (USD Million)
Table 15 Epoxy Resin-Based Gelcoat Market, By Region, 2017–2024 (Kiloton)
Table 16 Epoxy Resin-Based Gelcoat Market, By Region, 2017–2024 (USD Million)
Table 17 Other Resins-Based Gelcoat Market, By Region, 2017–2024 (Kiloton)
Table 18 Other Resins-Based Gelcoat Market, By Region, 2017–2024 (USD Million)
Table 19 Gelcoat Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 20 Gelcoat Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 21 Gelcoat Market in Marine End-Use Industry, By Region, 2017–2024 (Kiloton)
Table 22 Gelcoat Market in Marine End-Use Industry, By Region, 2017–2024 (USD Million)
Table 23 Gelcoat Market in Transportation End-Use Industry, By Region, 2017–2024 (Kiloton)
Table 24 Gelcoat Market in Transportation End-Use Industry, By Region, 2017–2024 (USD Million)
Table 25 Gelcoat Market in Construction End-Use Industry, By Region, 2017–2024 (Kiloton)
Table 26 Gelcoat Market in Construction End-Use Industry, By Region, 2017–2024 (USD Million)
Table 27 Gelcoat Market in Wind Energy End-Use Industry, By Region, 2017–2024 (Kiloton)
Table 28 Gelcoat Market in Wind Energy End-Use Industry, By Region, 2017–2024, (USD Million)
Table 29 Gelcoat Market in Other End-Use Industries, By Region, 2017–2024 (Kiloton)
Table 30 Gelcoat Market in Other End-Use Industries, By Region, 2017–2024 (USD Million)
Table 31 Gelcoat Market Size, By Region, 2017–2024 (Kiloton)
Table 32 Gelcoat Market Size, By Region, 2017–2024 (USD Million)
Table 33 North America: Gelcoat Market Size, By Resin, 2017–2024 (Kiloton)
Table 34 North America: Gelcoat Market Size, By Resin, 2017–2024 (USD Million)
Table 35 North America: Gelcoat Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 36 North America: Gelcoat Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 37 North America: Gelcoat Market Size, By Country, 2017–2024 (Kiloton)
Table 38 North America: Gelcoat Market Size, By Country, 2017–2024 (USD Million)
Table 39 US: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 40 US: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 41 Canada: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 42 Canada: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 43 Europe: By Market Size, By Resin, 2017–2024 (Kiloton)
Table 44 Europe: By Market Size, By Resin, 2017–2024 (USD Million)
Table 45 Europe: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 46 Europe: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 47 Europe: By Market Size, By Country, 2017–2024 (Kiloton)
Table 48 Europe: By Market Size, By Country, 2017–2024 (USD Million)
Table 49 Germany: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 50 Germany: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 51 Italy: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 52 Italy: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 53 France: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 54 France: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 55 UK: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 56 UK: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 57 APAC: By Market Size, By Resin, 2017–2024 (Kiloton)
Table 58 APAC: By Market Size, By Resin, 2017–2024 (USD Million)
Table 59 APAC: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 60 APAC: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 61 APAC: By Market Size, By Country, 2017–2024 (Kiloton)
Table 62 APAC: By Market Size, By Country, 2017–2024 (USD Million)
Table 63 China: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 64 China: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 65 India: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 66 India: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 67 Japan: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 68 Japan: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 69 Latin America: By Market Size, By Resin, 2017–2024 (Kiloton)
Table 70 Latin America: By Market Size, By Resin, 2017–2024 (USD Million)
Table 71 Latin America: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 72 Latin America: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 73 Latin America: By Market Size, By Country, 2017–2024 (Kiloton)
Table 74 Latin America: By Market Size, By Country, 2017–2024 (USD Million)
Table 75 Brazil: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 76 Brazil: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 77 Mexico: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 78 Mexico: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 79 MEA: By Market Size, By Resin, 2017–2024 (Kiloton)
Table 80 MEA: By Market Size, By Resin, 2017–2024 (USD Million)
Table 81 MEA: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 82 MEA: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 83 MEA: By Market Size, By Country, 2017–2024 (Kiloton)
Table 84 MEA: By Market Size, By Country, 2017–2024 (USD Million)
Table 85 UAE: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 86 UAE: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 87 Saudi Arabia: By Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 88 Saudi Arabia: By Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 89 Expansion, 2014—2019
Table 90 Agreement & Partnership, 2014—2019
Table 91 New Product Launch, 2014—2019
Table 92 Merger & Acquisition, 2014—2019


List of Figures (43 Figures)

Figure 1 Gelcoat Market Segmentation
Figure 2 Years Considered for the Study
Figure 3 Gelcoat Market: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation: Top-Down Approach
Figure 6 Gelcoat Market: Data Triangulation
Figure 7 Polyester to Be the Largest Resin for Gelcoat
Figure 8 Marine End-Use Industry Accounted for the Maximum Share in the Gelcoat Market in 2018
Figure 9 China is Projected to Register the Highest CAGR
Figure 10 APAC to Witness the Highest Growth in Gelcoat Market
Figure 11 Growth Opportunities in the Gelcoat Market Between 2019 and 2024
Figure 12 Marine to Be the Leading End-Use Industry of Gelcoat
Figure 13 Polyester to Be the Dominating Segment of the Gelcoat Market
Figure 14 India to Register the Highest CAGR in the Gelcoat Market
Figure 15 Drivers, Restraints, Opportunities, and Challenges Governing the Gelcoat Market
Figure 16 Gelcoat Market: Porter’s Five Forces Analysis
Figure 17 Gelcoat Market Value Chain
Figure 18 Automotive Production in Key Countries, Million Units (2017 vs. 2016)
Figure 19 Contribution of the Construction Industry in North America, USD Billion (2017 vs. 2022)
Figure 20 Contribution of the Construction Industry in Europe, USD Billion (2017 vs. 2022)
Figure 21 Contribution of the Construction Industry in APAC, USD Billion (2017 vs. 2022)
Figure 22 Contribution of the Construction Industry in MEA, USD Billion (2017 vs. 2022)
Figure 23 Contribution of the Construction Industry in Latin America, USD Billion (2017 vs. 2022)
Figure 24 Polyester to Be the Leading Resin for Gelcoat
Figure 25 APAC to Be the Fastest Growing Market for Polyester Resin-Based Gelcoat
Figure 26 Marine to Be the Leading End-Use Industry of Gelcoat
Figure 27 Marine is the Largest End-Use Industry of Gelcoat in North America
Figure 28 India to Register the Highest CAGR
Figure 29 North America: Gelcoat Market Snapshot
Figure 30 Europe: Gelcoat Market Snapshot
Figure 31 APAC: Gelcoat Market Snapshot
Figure 32 Brazil to Register the Highest CAGR
Figure 33 UAE to Be the Fastest-Growing Gelcoat Market in MEA
Figure 34 Companies Adopted Expansion and New Product Launch as the Key Growth Strategies Between 2014 and 2019
Figure 35 Market Ranking of Top Five Players in Gelcoat Market
Figure 36 Dive Chart
Figure 37 Dive Chart
Figure 38 Ineos Enterprise: SWOT Analysis
Figure 39 BUFA Composite Systems GmbH: SWOT Analysis
Figure 40 HK Research Corporation: SWOT Analysis
Figure 41 Allnex: SWOT Analysis
Figure 42 Scott Bader Company: Company Snapshot
Figure 43 Scott Bader Company: SWOT Analysis

The study involved four major activities to estimate the current market size for gelcoat. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of market segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to, so as to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The gelcoat market comprises several stakeholders such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of the various industries such as marine, wind energy, transportation, construction and other industries. The supply side is characterized by advancements in technology and diverse applications. Various primary sources from both supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Gelcoat Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total gelcoat market size. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size included the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both demand and supply sides in the marine, transportation, wind energy, construction, and other industries.

Report Objectives

  • To analyze and forecast the market size of gelcoat market, in terms of value and volume
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To define, describe, and forecast the market on the basis of resin and end-use industry
  • To define, describe, and forecast the market on the basis of five regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To strategically profile the key players and comprehensively analyze their market share and core competencies

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of Rest of Europe gelcoat market
  • Further breakdown of Rest of APAC gelcoat market
  • Further breakdown of Rest of Latin America gelcoat market
  • Further breakdown of Rest of MEA gelcoat market

Company Information

  • Detailed analysis and profiling of additional market players (up to five)
Report Code
CH 3754
Published ON
Feb, 2019
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