The glass flake coatings market is projected to reach USD 1.80 Billion by 2022, at a CAGR of 4.48% from 2017 to 2022. Glass flake coatings are manufactured by adding glass flakes in anti-corrosive coatings to improve barrier and reinforcement properties, along with wear & tear and abrasion resistance properties. Glass flake coatings are best used in the oil & gas, marine, chemical & petrochemical, water & wastewater systems, power plants, and pulp & paper end-use industries to protect steel and concrete substrates from corrosive fluids and impart resistance against solvents, chemicals, and high-temperature fluids.
Investments & expansions, new product developments/launches, and mergers & acquisitions were the key strategies adopted by industry players to achieve growth in the glass flake coatings market. Companies are focusing on investments & expansions to expand their businesses and fulfill the growing demand for glass flake coatings from consumers. Besides these strategies, companies are also adopting new product launches and mergers & acquisitions to expand and cater to the rising demand for glass flake coatings from emerging economies.
In terms of strategic developments between January 2015 and September 2017, investments & expansions was the most preferred strategy adopted by manufacturers to strengthen their position and product portfolio in the global glass flake coatings market, followed by new product developments/launches and mergers & acquisitions.
Chugoku Marine (Japan), KCC Corporation (South Korea), Nippon Paint (Japan), and Kansai Paint (Japan) are some of the key players in the Asia Pacific glass flake coating market. Akzo Nobel (Netherlands), Jotun (Norway), and Hempel (Denmark) are key players in the European region, while PPG Industries (US), The Sherwin-Williams Company (US), and RPM International (US) are key players in the North American region.
Key manufacturers including Akzo Nobel (Netherlands), PPG Industries (US), Jotun (Norway), Hempel (Denmark), Chugoku Marine (Japan), The Sherwin-Williams Company (US), KCC Corporation (South Korea), Nippon Paint (Japan), Kansai Paint (Japan), and RPM International (US) have been profiled in this report.
Akzo Nobel, PPG Industries, and Jotun were the most active players in the global glass flake coatings market between January 2015 and September 2017. For instance, in May 2017, Akzo Nobel opened a Performance Coatings production facility in Santo André, Brazil. With this development, the company will become more agile in responding to local customer needs and regional market demands. The company will also strengthen its international portfolio of high-performance industrial and marine coatings in South America.
PPG Industries is another key manufacturer of glass flake coatings. In February 2016, the company invested USD 7.8 million in its Coatings Innovation Center in Allison Park, Pennsylvania (US). With this investment the company enhanced all three main business segments, namely performance coatings, industrial coatings, and glass coatings. Glass flake coatings are manufactured under its performance coatings business segment.
In November 2015, Jotun opened a new marine and protective coating plant in Brazil with a production capacity of 10 million liters per annum. The new plant will help the company become a market leader in marine and protective coatings within Brazil.
Glass Flake Coatings Market by Resin (Epoxy, Vinyl Ester, Polyester), Substrate (Steel, Concrete), End-Use Industry (Oil & Gas, Marine, Chemical & Petrochemical), and Region (APAC, Europe, North America, South America, MEA) - Global Forecast to 2022
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