Gelcoat Market

Ineos Enterprise (UK) and HK Research Corporation (US) are the Major Players in the Gelcoat Market

The gelcoat market size is USD 1.2 billion in 2019 and is expected to reach USD 1.7 billion by 2024, at a CAGR of 8.0% between 2019 and 2024. The major factor driving the market is growing demand from the APAC region and the emerging wind energy industry.

The major gelcoat manufacturers are 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). These players have adopted various growth strategies, such as mergers & acquisitions, expansions, and new product launches to further expand their presence in the global market. Expansions and new product launches were the dominating strategies adopted by the major players from 2014 to 2019, which helped them innovate their offerings and broaden their customer base.

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Ineos Enterprise is an established company in the global gelcoat market. The company possesses a wide product portfolio of gelcoat. The company is constantly engaged in providing high-grade gelcoat. As a part of its growth strategy, it is highly focused on new product launches. For instance, in November 2018, the company launched a new gelcoat for use in the marine industry.

HK Research Corporation is a major manufacturer and producer of gelcoat materials, globally. It has focused mainly on new product developments and expansions as its major growth strategies. The company has introduced various customized and flexible gelcoat materials to meet the growing demand from the marine industry. For instance, the company introduced ReFlex for the marine industry that offers extraordinary weathering and water resistance properties. Through these strategies, HK Research Corporation would be able to increase its market share and maintain a huge customer base in the marine industry.

Related Reports:

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

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Report Code
CH 3754
Published ON
Feb, 2019
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