Global gelcoat market is expected to reach USD 2,264.96 million by 2026, grow at a healthy CAGR in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.
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The gelcoat market is a highly concentrated market which includes key players and local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to the growing demand of gelcoat in marine industry due to rising number of yacht projects and water based recreational activities. Due to the properties such as conductivity, fire retardant, transparent and partially clear or pigmented, their demand is increasing in marine sector.
The market has witness developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, in March 2019, Sika AG acquired Belineco LLC, who is involved in the manufacturing of polyurethane foam systems. This acquisition will help in building strong distribution network in European region. This will develop their production and development of polyurethane foams. It will further strengthen their business in Eastern Europe and give opportunities for new cross selling.
Akzo Nobel N.V. (Nouryon) dominated the global gelcoat market. The other key players existing in the market includes Ashland and LyondellBasell Industries Holding B.V. The other key players existing in the market includes AKZONOBEL N.V., ASHLAND, LyondellBasell Industries Holdings B.V., 3M, SIKA AG, AEKYUNG CHEMICAL Co., Ltd, ALLNEX NETHERLANDS B.V., AOC, LLC, BÜFA GmbH & Co. KG, Changzhou Huake Polymers Co., Ltd., DE USSEL COATINGS BV, DUGALAK Ltd., Eternal Synthetic Resins (Changshu) Co.Ltd., Euroresins, GRM, HK Research Corporation, Interplastic Corporation, Leader Compsite Comp.,Ltd, Mäder, NANO4LIFE EUROPE L.P., Polynt, Resoltech, Scott Bader Company Ltd.,TURKUAZ POLYESTER.
Akzo Nobel N.V.(Nouryon):
Akzo Nobel N.V. (Nouryon) headquartered in Amsterdam, Netherlands was founded in 1792. The company is engaged in making paints and coatings, setting the standard in color and protection. The company has three operating divisions namely, decorative paints, performance coatings and corporate and others. Performance coatings segment used to protect and enhance everything from ships, cars, aircraft, yachts and architectural components to consumer goods and oil and gas facilities. In performance coatings they also strive to develop and offer lower VOC products to meet changing market requirements and stay ahead of upcoming legislation.
The others segment of the company supply a variety of quality products for every situation and surface, including paints, lacquers and varnishes. They also offer a range of mixing machines and color concepts for the building and renovation industry. This is due to the impact of the foreign currencies and high raw material costs as well as lower volumes.
It has its global networks in North America, South America, Asia, Other European countries, The Netherlands. The company has various subsidiaries such as Akzo Nobel Coatings Inc., (US), Akzo Nobel Swire Paints (Shanghai) Ltd (China), Imperial Chemical Industries Limited (UK) and others.
Ashland headquartered in Covington, Kentucky was founded in 1924. The company is focused in providing creative solutions through the application of speciality ingredients and materials. The company operates through three business segments which include specialty ingredients, composites and intermediates and solvents.
The composite segment manufacturers and sells a broad range of general-purpose and high-performance grades of unsaturated polyester and vinyl ester resins, gelcoats and low-profile additives for the reinforced plastics industry. The products in the composites business provide an array of functional properties including corrosion resistance, fire retardance, ultraviolet resistance, water and chemical resistance, high mechanical strength, impact and scratch resistance and high strength-to-weight ratios. The other segment offers cellulose ethers, vinyl pyrrolidine and biofunctionals which are the industry-leading products, technologies and resources for solving formulation and product-performance challenges. The products offered by the company include food and beverage, corrosion resistance, energy, medical, packaging printing and graphics, paints and coatings, personal and home care.
It has its global networks in more than 100 countries with regions are North America, Europe, Asia Pacific & Latin America & Other, with 6,000 passionate tenacious solvers. It operates through its subsidiaries such as Ashland (Changzhou) Advanced Chemical Co., Ltd. (China), Ashland Canada Corp. (Canada), Ashland Danmark ApS (U.S.), Ashland Finland Oy (Finland), Ashland Industries Europe GmbH (Switzerland), Ashland Industries UK Limited (U.K.).
3M is headquartered in Minnesota, U.S., founded in 1929. 3M operates through four major strategic business units which include industrial, safety and graphics, health care, electronics and energy and consumer. Industrial Segment serves a broad range of markets, such as automotive original equipment manufacturer (OEM) and automotive aftermarket (auto body shops and retail), electronics and automotive electrification, appliance, paper and printing, packaging, food and beverage, and construction. The products include tapes, a wide variety of coated, non-woven and bonded abrasives, adhesives, advanced ceramics, sealants, specialty materials, purification (filtration products), closure systems for personal hygiene products, acoustic systems products, and components and products that are used in the manufacture, repair and maintenance of automotive, marine, aircraft and specialty vehicles. The other segment includes safety and graphics business, health care business, electronics and energy business, consumer business. In safety and graphics business offer a broad range of markets that increase the safety and productivity of people, facilities and systems. Major product offerings include personal protection products, such as respiratory, hearing, eye and fall protection equipment; commercial solutions, including commercial graphics sheeting and systems, architectural design solutions for surfaces, and cleaning and protection products for commercial establishments; transportation safety solutions, such as retroreflective sign sheeting; and roofing granules for asphalt shingles. In health care business offer medical and surgical supplies, skin health and infection prevention products, oral care solutions (dental and orthodontic products), health information systems, inhalation and transdermal drug delivery systems, and food safety products. In electronics and energy, the business offers electrical products, including infrastructure protection; and power generation and distribution. In consumer business supply products, stationery products, home improvement products, home care products, protective material products, certain consumer retail personal safety products, and consumer health care products.
The company has wide geographical presence in the U.S., Asia-Pacific, Europe, Middle East & Africa, Latin America/Canada and it operates through its subsidiaries such as 3M Japan Limited (Japan), 3M India Limited (India), 3M (Canada), Meguiar's, Inc. (U.S.), Capital Safety (U.S.), Ceradyne (U.S.), Scott Safety (U.S.) and Others.
Global Gelcoat Market – Industry Trends and Forecast to 2026
Asia-Pacific Gelcoat Market – Industry Trends and Forecast to 2026
Europe Gelcoat Market – Industry Trends and Forecast to 2026
Middle East and Africa Gelcoat Market – Industry Trends and Forecast to 2026
North America Gelcoat Market – Industry Trends and Forecast to 2026