Gelcoat Market Global Information by Resin Type (Polyester, Vinyl Ester, Epoxy and Others), End-Use Industry (Marine, Wind Energy, Transportation, Construction and Others) and Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) - Forecast Till 2030
ID: MRFR/CnM/1748-HCR | February 2021 | Region: Global | 140 pages
Gelcoat Market Overview
The gelcoat market was valued at USD 1.1 billion in 2018 and is expected to grow at a CAGR of 7.6% during the forecast period. Gelcoat is a type of coat generally applied to fiber-reinforced plastics to provide a protective layer and increase the aesthetic appeal of the substrate. It is composed of resin, filler, and pigment. Various types of resins commonly used in gelcoat formulation are polyester, vinyl ester, and epoxy. Gelcoat offers unique properties and characteristics such as resistance against corrosion, UV degradation, water absorption, and blister & crack; and glossy finish. Gelcoat can be applied by both brush and spray form so that appropriate thickness can be laminated on composite material to avoid damage in diverse conditions.
The growing use of glass fiber reinforced plastics across various end-use industries, owing to its light-weight characteristics is the primary growth driver to the gelcoat market. Gelcoats are widely used in the marine industry since ships, and recreational boats are mostly made using glass fiber reinforced plastics these days. Gelcoats are used to coat decks, ship hulls, motor yachts, and powerboats during shipbuilding to protect the substrate from the harsh marine environment. The growth of the global marine industry is the major growth driver to the gelcoat market. Additionally, the wind energy sector is also contributing largely to the market size of the gelcoat market. Furthermore, the rising demand for lightweight vehicles to increase fuel efficiency has led to the increasing use of fiber reinforced plastics in the transportation industry, which includes railways, ships, and buses. This, in turn, is augmented to propel the use of gelcoat in the transportation industry during the forecast period.
The acquisition is one of the most widely employed growth strategies by the players in the gelcoat market in 2018 to capture larger market share. For instance, on 15 November 2018, INEOS announced its plan to acquire the entire composite business of Ashland Global Holdings Inc. for USD 1.1 billion. The deal includes 20 manufacturing sites of Ashland Global Holdings Inc. in regions viz. Europe, North America, South America, Asia, and the Middle East, which employs 1300 people. The acquisition deal is expected to complete in the first half of 2019 due to regulatory approval and consultation processes.
However, the shift towards a closed molding process may hamper market growth during the review period.
Key Players
- Scott Bader Company Ltd (UK)
- 3M (US)
- Polynt SpA (Italy)
- INEOS (UK)
- Mechemco (India)
- Oy Kokko-Fiber Ab (Finland)
- BÜFA Composite Systems GmbH & Co. KG (Germany)
- Vetroresina Spa (Italy)
- Interplastic Corporation (US)
- AOC LLC (US)
- HK Research Corporation (US)
- Allnex Netherlands BV (Netherlands)
- Reichhold LLC (US)
- Fibre Glast Developments Corp. (US)
- Axson Technologies (France)
Global Gelcoat Market Share, by Application (2018) 
Source: MRFR Analysis
Market Segmentation
The gelcoat market has been segmented based on resin type, end-use industry, and region.
Based on resin type, the global gelcoat market has been divided into polyester, vinyl ester, epoxy, and others.
On the basis of end-use industry, the market has been classified as marine, wind energy, transportation, construction, and others.
Regional Analysis
The global gelcoat market has been analyzed with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific was the largest and fastest growing market for gelcoat in 2018 and is expected to continue a similar trend during the forecast period. The countries of Asia-Pacific viz, South Korea, Japan, and China are amongst the world’s top shipbuilding nations and thus showcase strong demand for gelcoat for coating ships. Additionally, the growing transportation industry and wind energy sector is contributing to the growth of the product market in the region. The construction industry is largely driving the demand for gelcoat as more and more buildings are consuming fiber plastics for various applications.
Europe was the second largest market for gelcoat in 2018 and is likely to showcase significant growth during the assessment period. Recovery of the marine industry in the region is contributing to the growth of the global gelcoat market. The wind energy sector is also driving the product market significantly. According to the Global Wind Energy Council (GWEC), Europe accounted for a 33% share of the total wind power installed capacity in 2018.
North America was following Europe in terms of the market size in 2018. The US held 16.5% share of the total wind installed capacity in 2018, according to Global Wind Energy Council (GWEC), and thus contribute strongly to the demand for gelcoat in the wind energy sector. The transportation industry also supports the growth of the product market in the region. The greater adoption of fiber reinforced for various building applications are further propelling the demand for gelcoat in the regional construction and renovation industry.
The market in Latin America and the Middle East & Africa holds the least market share in the global gelcoat market in 2018. Slow economic development affected the growth of the gelcoat market in these regions.
Intended Audience
- Gelcoat manufacturers
- Traders and distributors of Gelcoat
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2030: Significant Value |
| CAGR | 7.6% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Resin Type, End-User and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Scott Bader Company Ltd (UK), 3M (US), Polynt SpA (Italy), INEOS (UK), Mechemco (India), Oy Kokko-Fiber Ab (Finland), BÜFA Composite Systems GmbH & Co. KG (Germany), Vetroresina Spa (Italy), Interplastic Corporation (US), AOC LLC (US), HK Research Corporation (US), Allnex Netherlands BV (Netherlands), Reichhold LLC (US), Fibre Glast Developments Corp. (US), Axson Technologies (France) |
| Key Market Opportunities | Growing transportation industry and wind energy sector |
| Key Market Drivers | Rising demand for lightweight vehicles to increase fuel efficiency |
Frequently Asked Questions (FAQ) :
The global gelcoat market was valued at USD 1.1 billion in 2018.
The global gelcoat market is expected to exhibit a steady 7.6% CAGR over the forecast period from 2020 to 2027.
The marine industry is the leading end use application of gelcoats, followed by the wind power sector.
The growing use of glass fiber-reinforced plastic in a number of end-use industries is likely to be the major driver for the global gelcoat market.
The leading players in the gelcoat market include Scott Bader Company Ltd., 3M, INEOS, Mechemco, Vetroresina SpA, AOC LLC, Interplastic Corporation, HK Research Corporation, Reichhold LLC, and Axson Technologies.
Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics of the Global Gelcoat Market
4.1 Introduction
4.2 Drivers
4.3 Restraints
4.4 Opportunities
4.5 Challenges
4.6 Trends/Technology
5 Market Factor Analysis of the Global Gelcoat Market
5.1 Supply Chain Analysis
5.1.1 Raw Material Suppliers
5.1.2 Manufacturers/Producers
5.1.3 Distributors/Retailers/Wholesalers/E-Commerce
5.1.4 End User
5.2 Porter’s Five Forces Analysis
5.2.1 Threat of New Entrants
5.2.2 Bargaining Power of Buyers
5.2.3 Bargaining Power of Suppliers
5.2.4 Threat of Substitutes
5.2.5 Intensity of Competitive Rivalry
6. Global Gelcoat Market, by Resin Type
6.1 Introduction
6.2 Polyester
6.2.1 Market Estimates & Forecast, 2020−2027
6.2.2 Market Estimates & Forecast, by Region, 2020−2027
6.3 Vinyl Ester
6.3.1 Market Estimates & Forecast, 2020−2027
6.3.2 Market Estimates & Forecast, by Region, 2020−2027
6.4 Epoxy
6.4.1 Market Estimates & Forecast, 2020−2027
6.4.2 Market Estimates & Forecast, by Region, 2020−2027
6.5 Others
6.5.1 Market Estimates & Forecast, 2020−2027
6.5.2 Market Estimates & Forecast, by Region, 2020−2027
7. Global Gelcoat Market, by End-Use Industry
7.1 Introduction
7.2 Marine
7.2.1 Market Estimates & Forecast, 2020−2027
7.2.2 Market Estimates & Forecast, By Region, 2020−2027
7.3 Wind Energy
7.3.1 Market Estimates & Forecast, 2020−2027
7.3.2 Market Estimates & Forecast, by Region, 2020−2027
7.4 Transportation
7.4.1 Market Estimates & Forecast, 2020−2027
7.4.2 Market Estimates & Forecast, by Region, 2020−2027
7.5 Construction
7.5.1 Market Estimates & Forecast, 2020−2027
7.5.2 Market Estimates & Forecast, by Region, 2020−2027
7.6 Others
7.6.1 Market Estimates & Forecast, 2020−2027
7.6.2 Market Estimates & Forecast, by Region, 2020−2027
8. Global Gelcoat Market, by Region
8.1 Introduction
8.2 North America
8.2.1 Market Estimates & Forecast, 2020−2027
8.2.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.2.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.2.4 US
8.2.4.1 Market Estimates & Forecast, 2020−2027
8.2.4.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.2.4.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.2.5 Canada
8.2.5.1 Market Estimates & Forecast, 2020−2027
8.2.5.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.2.5.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.3 Europe
8.3.1 Market Estimates & Forecast, 2020−2027
8.3.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.3.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.3.4 Germany
8.3.4.1 Market Estimates & Forecast, 2020−2027
8.3.4.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.3.4.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.3.5 France
8.3.5.1 Market Estimates & Forecast, 2020−2027
8.3.5.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.3.5.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.3.6 Italy
8.3.6.1 Market Estimates & Forecast, 2020−2027
8.3.6.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.3.6.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.3.7 Spain
8.3.7.1 Market Estimates & Forecast, 2020−2027
8.3.7.2 Market Estimates & Forecast, by Resin Type,2020−2027
8.3.7.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.3.8 UK
8.3.8.1 Market Estimates & Forecast, 2020−2027
8.3.8.2 Market Estimates & Forecast, by Resin Type,2020−2027
8.3.8.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.3.9 Russia
8.3.9.1 Market Estimates & Forecast, 2020−2027
8.3.9.2 Market Estimates & Forecast, by Resin Type,2020−2027
8.3.9.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.3.10 Poland
8.3.10.1 Market Estimates & Forecast, 2020−2027
8.3.10.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.3.10.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.3.11 Rest of Europe
8.3.11.1 Market Estimates & Forecast, 2020−2027
8.3.11.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.3.11.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.4 Asia-Pacific
8.4.1 Market Estimates & Forecast, 2020−2027
8.4.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.4.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.4.4 China
8.4.4.1 Market Estimates & Forecast, 2020−2027
8.4.4.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.4.4.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.4.5 India
8.4.5.1 Market Estimates & Forecast, 2020−2027
8.4.5.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.4.5.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.4.6 Japan
8.4.6.1 Market Estimates & Forecast, 2020−2027
8.4.6.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.4.6.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.4.7 Australia & New Zealand
8.4.7.1 Market Estimates & Forecast, 2020−2027
8.4.7.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.4.7.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.4.8 Rest of Asia-Pacific
8.4.8.1 Market Estimates & Forecast, 2020−2027
8.4.8.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.4.8.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.5 Middle East & Africa
8.5.1 Market Estimates & Forecast, 2020−2027
8.5.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.5.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.5.4 GCC
8.5.4.1 Market Estimates & Forecast, 2020−2027
8.5.4.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.5.4.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.5.5 Israel
8.5.5.1 Market Estimates & Forecast, 2020−2027
8.5.5.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.5.5.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.5.6 North Africa
8.5.6.1 Market Estimates & Forecast, 2020−2027
8.5.6.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.5.6.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.5.7 Turkey
8.5.7.1 Market Estimates & Forecast, 2020−2027
8.5.7.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.5.7.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.5.8 Rest of Middle East & Africa
8.5.8.1 Market Estimates & Forecast, 2020−2027
8.5.8.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.5.8.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.6 Latin America
8.6.1 Market Estimates & Forecast, 2020−2027
8.6.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.6.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.6.4 Brazil
8.6.4.1 Market Estimates & Forecast, 2020−2027
8.6.4.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.6.4.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.6.5 Argentina
8.6.5.1 Market Estimates & Forecast, 2020−2027
8.6.5.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.6.5.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.6.6 Mexico
8.6.6.1 Market Estimates & Forecast, 2020−2027
8.6.6.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.6.6.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
8.6.7 Rest of Latin America
8.6.7.1 Market Estimates & Forecast, 2020−2027
8.6.7.2 Market Estimates & Forecast, by Resin Type, 2020−2027
8.6.7.3 Market Estimates & Forecast, by End-Use Industry, 2020−2027
9. Company Landscape
9.1 Introduction
9.2 Market Strategy
9.3 Key Development Analysis (Expansion/Merger & Acquisitions/Joint Venture/New Product Development/Agreement/Investment)
10. Company Profiles
10.1 Scott Bader Company Ltd
10.1.1 Company Overview
10.1.2 Financial Updates
10.1.3 Product/Business Segment Overview
10.1.4 Strategy
10.1.5 Key Developments
10.1.6 SWOT Analysis
10.2 3M
10.2.1 Company Overview
10.2.2 Financial Updates
10.2.3 Product/Business Segment Overview
10.2.4 Strategy
10.2.5 Key Developments
10.2.6 SWOT Analysis
10.3 Polynt SpA
10.3.1 Company Overview
10.3.2 Financial Updates
10.3.3 Product/Business Segment Overview
10.3.4 Strategy
10.3.5 Key Developments
10.3.6 SWOT Analysis
10.4 INEOS
10.4.1 Company Overview
10.4.2 Financial Updates
10.4.3 Product/Business Segment Overview
10.4.4 Strategy
10.4.5 Key Developments
10.4.6 SWOT Analysis
10.5 Mechemco.
10.5.1 Company Overview
10.5.2 Financial Updates
10.5.3 Product/Business Segment Overview
10.5.4 Strategy
10.5.5 Key Developments
10.5.6 SWOT Analysis
10.6 Oy Kokko-Fiber Ab
10.6.1 Company Overview
10.6.2 Financial Updates
10.6.3 Product/Business Segment Overview
10.6.4 Strategy
10.6.5 Key Developments
10.6.6 SWOT Analysis
10.7 BÜFA Composite Systems GmbH & Co. KG
10.7.1 Company Overview
10.7.2 Financial Updates
10.7.3 Product/Business Segment Overview
10.7.4 Strategy
10.7.5 Key Developments
10.7.6 SWOT Analysis
10.8 Vetroresina Spa
10.8.1 Company Overview
10.8.2 Financial Updates
10.8.3 Product/Business Segment Overview
10.8.4 Strategy
10.8.5 Key Developments
10.8.6 SWOT Analysis
10.9 Interplastic Corporation
10.9.1 Company Overview
10.9.2 Financial Updates
10.9.3 Product/Business Segment Overview
10.9.4 Strategy
10.9.5 Key Developments
10.9.6 SWOT Analysis
10.10 AOC, LLC
10.10.1 Company Overview
10.10.2 Financial Updates
10.10.3 Product/Business Segment Overview
10.10.4 Strategy
10.10.5 Key Developments
10.10.6 SWOT Analysis
10.11 HK Research Corporation
10.11.1 Company Overview
10.11.2 Financial Updates
10.11.3 Product/Business Segment Overview
10.11.4 Strategy
10.11.5 Key Developments
10.11.6 SWOT Analysis
10.12 Allnex Netherlands BV
10.12.1 Company Overview
10.12.2 Financial Updates
10.12.3 Product/Business Segment Overview
10.12.4 Strategy
10.12.5 Key Developments
10.12.6 SWOT Analysis
10.13 Reichhold LLC
10.13.1 Company Overview
10.13.2 Financial Updates
10.13.3 Product/Business Segment Overview
10.13.4 Strategy
10.13.5 Key Developments
10.13.6 SWOT Analysis
10.14 Fibre Glast Developments Corp.
10.14.1 Company Overview
10.14.2 Financial Updates
10.14.3 Product/Business Segment Overview
10.14.4 Strategy
10.14.5 Key Developments
10.14.6 SWOT Analysis
10.15 Axson Technologies
10.15.1 Company Overview
10.15.2 Financial Updates
10.15.3 Product/Business Segment Overview
10.15.4 Strategy
10.15.5 Key Developments
10.15.6 SWOT Analysis
11. Conclusion
LIST OF TABLES
Table 1 Global Gelcoat Market: by Region, 2020−2027
Table 2 North America: Gelcoat Market, by Country, 2020−2027
Table 3 Europe: Gelcoat Market, by Country, 2020−2027
Table 4 Asia-Pacific: Gelcoat Market. by Country, 2020−2027
Table 5 Middle East & Africa: Gelcoat Market, by Country, 2020−2027
Table 6 Latin America: Gelcoat Market, by Country, 2020−2027
Table 7 Global Gelcoat Resin Type Market, by Regions, 2020−2027
Table 8 North America: Gelcoat Resin Type Market, by Country, 2020−2027
Table 9 Europe: Gelcoat Resin Type Market, by Country, 2020−2027
Table10 Asia-Pacific: Gelcoat Resin Type Market, by Country, 2020−2027
Table11 Middle East & Africa: Gelcoat Resin Type Market, by Country, 2020−2027
Table12 Latin America: Gelcoat Resin Type Market, by Country, 2020−2027
Table 13 Global Gelcoat End-Use Industry Market, by Regions, 2020−2027
Table14 North America: Gelcoat End-Use Industry Market, by Country, 2020−2027
Table15 Europe: Gelcoat End-Use Industry Market, by Country, 2020−2027
Table16 Asia-Pacific: Gelcoat End-Use Industry Market, by Country, 2020−2027
Table17 Middle East & Africa: Gelcoat End-Use Industry Market, by Country, 2020−2027
Table18 Latin America: Gelcoat by End-Use Industry Market, by Country, 2020-2023
Table19 Global Resin Type Market, by Region, 2020−2027
Table20 Global End-Use Industry Market, by Region, 2020−2027
Table21 North America: Gelcoat Market, by Country, 2020−2027
Table22 North America: Gelcoat Market, by Resin Type, 2020−2027
Table23 North America: Gelcoat Market, by End-Use Industry, 2020−2027
Table24 Europe: Gelcoat Market, by Country, 2020−2027
Table25 Europe: Gelcoat Market, by Resin Type, 2020−2027
Table26 Europe: Gelcoat Market, by End-Use Industry, 2020−2027
Table27 Asia-Pacific: Gelcoat Market, by Country, 2020−2027
Table28 Asia-Pacific: Gelcoat Market, by Resin Type, 2020−2027
Table29 Asia-Pacific: Gelcoat Market, by End-Use Industry, 2020−2027
Table30 Middle East & Africa: Gelcoat Market, by Country, 2020−2027
Table31 Middle East & Africa: Gelcoat Market, by Resin Type, 2020−2027
Table32 Middle East & Africa: Gelcoat Market, by End-Use Industry, 2020−2027
Table33 Latin America: Gelcoat Market, by Country, 2020−2027
Table34 Latin America: Gelcoat Market, by Resin Type, 2020−2027
Table35 Latin America: Gelcoat Market, by End-Use Industry, 2020−2027
LIST OF FIGURES
FIGURE 1 Global Gelcoat Market Segmentation
FIGURE 2 Forecast Research Methodology
FIGURE 3 Five Forces Analysis of Global Gelcoat Market
FIGURE 4 Value Chain of Global Gelcoat Market
FIGURE 5 Share of Global Gelcoat Market in 2020, by Country
FIGURE 6 Global Gelcoat Market, 2020−2027,
FIGURE 7 Global Gelcoat Market Size, by Resin Type, 2020
FIGURE 8 Share of Global Gelcoat Market, by Resin Type, 2020−2027
FIGURE 9 Global Gelcoat Market Size, by End-Use Industry, 2020
FIGURE10 Share of Global Gelcoat Market, by End-Use Industry, 2020−2027