Composite Coatings Market Analysis:
Composite coatings are produced by joining two or more substances protecting against corrosion. These coatings are manufactured using various resins, including polyurethane and epoxy. Composite coatings are protective layers applied to substrates such as steel, concrete, or any other substrate material. Different layers of composite coatings include adhesive treated substrate, primer, base coat, and top coat. It provides superior waterproofing and corrosion protection. Composite coating provides protection against heat, corrosion, fire, and harmful radiations. These materials are light in weight, therefore, help in improving fuel efficiency. They are used in automotive, construction & manufacturing, transportation, oil & gas, and aerospace. Composite coatings are used with the technique of laser melt injection, brazing, and electro less plating.
COVID-19 impact analysis
- China is expected to be one of the major markets for automotive. Owing to outbreak of COVID-19, the China’s automotive market is facing a sharp fall, with obvious impacts for manufacturers of tires, hoses, belts, and other auto parts.
- The production facilities of the electronics parts have been halted, owing to the logistics slowdown and unavailability of the workforce across the globe. Furthermore, various e-commerce companies all across the globe have discontinued the delivery of nonessential items (including most of the electronics products), which is affecting the electronics industry.
- The outbreak of COVID-19 has had a significant impact on the military. Many military training and exercises have been postponed or cancelled.
- All large to small industries have ceased their operations and labor relocation, which are the key reasons for declining market growth of composite coating.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Increase in demand for composite coatings for anti-corrosion and self-lubrication in the transportation industry and anti-corrosion and chemical resistance in the oil & gas industry is the key growth driver of the composite coatings market.
Rapid development in automotive and aerospace industries is the key factor driving the global composite coatings market. Moreover, growth in population and rapid industrialization are major factors boosting the expansion of the composite coatings market across the globe. Technological innovations in processes such as piping system and downhole tubing systems are expected to boost the market growth. Composite coatings are used in coating aircraft airframes. They are further used to coat wind turbine blades. Increase in awareness about renewable energy is another element for increased consumption of composite coatings.
The composite coatings layers include top coat, base coat, primer, and the adhesive substrate. The base layer is applied to the primer, which acts as a water repellent and an extra layer of protection. Furthermore, the top coat is applied which is the uppermost layer of protection comprising attracting colors. Therefore, it provides four coatings of protection to the material with a decorative finish, which is expected to drive the market growth.
Surge in usage in composite coatings market and industrial applications
The global composite coatings market by region is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garners the largest market share, owing to rise in population and increase in number of transportation vehicles in China and India, thus boosting the composite coatings market growth in Asia Pacific. Furthermore, the development of the automotive industry is expected to boost the composite coatings market growth in Europe. North America is the rapidly growing market for composite coatings. The major factor contributing toward the growth is increase in demand from the transportation and aerospace & defense industries.
Depending on application, the market is segmented as anti-corrosion, UV protection, thermal protection, and others. On the basis of end-use industry, it is divided into transportation, aerospace & defense, industrial, oil & gas, and others. The transportation industry is the rapidly growing segment in the composite coatings market. Composite coatings offers several advantages, such as uniform coating thickness, accuracy, stiffness, and consistency compared to powder coatings. Besides, the construction industry is one of the common end-user industries of composite coatings. These coatings are used to protect steel from corrosion in the building & construction industry. Composite coatings are used as intumescent and thermal barriers on concrete and other materials.
Key benefits of the report
- This study presents the analytical depiction of the global composite coatings market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global composite coatings market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global composite coatings market research report:
- Which are the leading players active in the global composite coatings market?
- What are the upcoming trends in the global composite coatings market?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Composite Coatings Market Report Highlights
| Aspects | Details |
 By Technique |
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 By Application |
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 By End-use Industry |
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 By Region |
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 Key Market Players | Axalta Coating Systems, LLC, Poeton Industries Ltd., Surteckariya Co., Ltd., A.W. Chesterton Company, Sharretts Plating Company, Nickel Composite Coatings, Inc., KC Jones Plating Company, Walter Hunger GmbH & Co. Kg., PPG Industries, Inc., OM Sangyo Co., Ltd. |
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