Gelcoat Market

Introduction of the Gelcoat Market Report

Gelcoat is a material used to give a better finish on a fiber-supported composite surface used to shield structural covers. Isophthalic acid-based resins are used to produce gel coats. The standard gelcoat are thermoset polymers based on epoxy or unsaturated polyester resin. Gelcoats are modified resins that are applied to molds in a liquid state.

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Market Dynamic

Key Drivers and Emerging Trends

The rising demand from the transportation and automotive industry is a major factor that has driven the market’s overall growth. The industry obliges to conform to strict regulations such as the Corporate Average Fuel Efficiency (CAFE) requirements and the European Emission Standards (EES) by the US and European governments. To lessen carbon dioxide emissions, which give an unfavorable effect on the worldwide climate, the carmakers in the territories are concentrating on the construction of lightweight vehicles with composites which is likely to drive the demand of composites leading to the expansion of the market. Gel Coats are often the exterior coating for composite parts, providing both the part’s color and texture. They can range in arrival from clear shades that allow visibility of subsequent layers to pigmented coats that can be matched to an infinite array of colors.

COVID-19 has adversely influenced the need for composites across a variety of end-use businesses such as transportation, construction, and wind energy, which intern decreased the utilization of gelcoats. In addition, the interruption in the supply chain resulting in impediments or non-arrival of disrupted financial flows, wind energy, and increasing absence among production line workers have obliged automobile and marine makers to operate at zero or partial capacities.

Restraint in the Gelcoat Market

However, the rising shift towards the moulding process is a major factor that is likely to hamper the market’s overall growth.

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Resin Type – Segment Analysis

Based on the resin type, polyester based is witnessed to grow at a higher CAGR in the market over the forecast period. Polyester resins possess properties such as fast curing, durability, good corrosion resistance, low thermal expansion, tolerance to temperature, and are less expensive. Polyester resins used in gelcoats offer strength for parts and molds. Conventional gelcoats are available in white, neutral, and clear textures; and tooling gelcoats are available in colours such as black and orange.

End-Use Industry – Segment Analysis

Based on the end-use industry, marine is witnessed to grow at a higher CAGR in the market over the forecast period. Gelcoat overtures various helpful properties such as corrosion resistance, chemical resistance, UV resistance, and high gloss. As a result, its usage is growing in various industries such as transportation, wind energy, marine, and construction. 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.

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Regional – Segment Analysis:

Based on the regional coverage, Asia-Pacific is witnessed to grow at a higher CAGR in the market over the forecast period.  This is due to the rising demand from Asian countries like China, Japan, Taiwan, and India, which has certainly contributed to the market’s overall growth. For instance, strong commitment to the industry from China, the Chinese shipyards have already achieved a standard that caters to international customers, and the quality and quantity are expected to increase during the forecast period.

Top Market Players

Various notable players operating in the market, include, ALLNEX NETHERLANDS B.V., POLYNT GROUP, BÜFA GmbH & Co. KG, HK Research Corporation, INEOS, Interplastic Corporation, Nuplex Industries Ltd., Poliya Composites Resins and Polymers Inc., Polynt Spa, Scott Bader Company Ltd, among others. 

Key Developments:

• • In 2020, POLYNT GROUP strategically announced that it is going to establish a subsidiary name by Polynt Composites Turkey, which is likely to surge the growth of the market.

Segments covered in the Report:

The global Gelcoat market has been segmented on the basis of resin type, end-use industry, and regions. Based on resin type, the market is segmented into polyester, vinyl ester, epoxy, and Others. Based on end-use industry, the market is segmented into 

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Key questions answered in this research report:

• • At what pace is global Gelcoat Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Gelcoat Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Gelcoat Market?
  • Which Resin Type generated maximum revenues in 2020 and identify the most promising Resin Type during the forecast period?
  • What are the various End-Use Industry areas of global Gelcoat Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Resin Type, By End-Use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	ALLNEX NETHERLANDS B.V., POLYNT GROUP, BÜFA GmbH & Co. KG, HK Research Corporation, INEOS, Interplastic Corporation, Nuplex Industries Ltd., Poliya Composites Resins and Polymers Inc., Polynt Spa, Scott Bader Company Ltd, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Gelcoat Market by Resin Type

• • Polyester
  • Vinyl Ester
  • Epoxy
  • Others

Global Gelcoat Market by End-Use Industry

• • Marine
  • Transportation
  • Wind-Energy
  • Construction
  • Others

Global Gelcoat Market by Region

• • North America Gelcoat Market (Option 1: As a part of the free 25% customization)
    • By Resin Type
    • By End-Use Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Gelcoat Market (Option 2: As a part of the free 25% customization)
    • By Resin Type
    • By End-Use Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Gelcoat Market (Option 3: As a part of the free 25% customization)
    • By Resin Type
    • By End-Use Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Gelcoat Market (Option 4: As a part of the free 25% customization)
    • By Resin Type
    • By End-Use Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Gelcoat Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ALLNEX NETHERLANDS B.V.
  • POLYNT GROUP
  • BÜFA GmbH & Co. KG
  • HK Research Corporation
  • INEOS
  • Interplastic Corporation
  • Nuplex Industries Ltd.
  • Poliya Composites Resins and Polymers Inc.
  • Polynt Spa
  • Scott Bader Company Ltd