Abrasion Resistant Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Abrasion-resistant Coatings Market: Snapshot
The global market for abrasion-resistant coatings has witnessed vast developments in terms of manufacturing processes, available product varieties, and the raw materials being used in the past few years. As products react with environmental factors such as air, water, humidity, constant sunlight, they are bound to lose some of their physical properties, becoming weak, fragile, and lose their qualitative streak. To avoid the early deterioration of products, application of abrasion coatings is one of the key measures used.
Witnessing vast demand from a vast number of industries, the global abrasion-resistant coatings market is treading along a steady path of growth. The market is also expected to exhibit a promising growth rate in the next few years, with the demand for greener, water-borne coatings to remain one of the key trends deciding the market’s future course of growth. Innumerous regulations regarding emissions and increased focus on raising awareness regarding the need to move on to greener, biodegradable products, especially when it comes to products such as coatings that remain in the ecology long after a product is thrown away in garbage, could lead to the increased attention towards green abrasion resistant coatings.
There are a variety of application materials available on the market that help meet specific performance requirements and environmental regulations. One of the recent developments in the abrasion-resistant coatings market is the need to pass environmental regulations and focus on developing water-borne abrasion-resistant coatings instead of using VOC coatings. Nowadays, industries increasingly prefer waterborne abrasion-resistant coatings not just due to environmental regulations but also because of convenience in terms of low odor and high safety levels. This trend is expected to transform the abrasion-resistant coatings market and propel it tremendously in the coming years.
Global Abrasion Resistant Coatings Market: Overview
The demand within the global market for abrasion resistant coatings has been increasing on account of developments in key industries such as constructions, automotives, and metallurgy. The abrasion resistant coatings act as direct substitutes of lubricants in areas or operations where high temperature do not let the lubricants sustain their effect. Lubricants do not function to their maximum capacity even in radioactive environments which further necessitates the need for abrasion resistant coatings. The demand within the global market for abrasion resistant coatings has escalated over the past years, majorly due to the need to extend the lifespan of key products. The wear and tear of surfaces can be prevented with the use of abrasion resistant coatings that are manufactured after a careful analysis of the proportion of ingredients.
The global market for abrasion resistant coatings may be segmented along the following parameters: products, region, and application. Since the global market for abrasion resistant coatings is huge and expansive, it is important to segment it into the aforementioned categories for a better understanding and analysis.
A report on the global market for abrasion resistant coatings has created a basis to understand the key trends, threats, and opportunities that are suspended in the market, Furthermore, the report is an apt representation of the strategies of market players who are aiming to expand their prospects of growth.
Global Abrasion Resistant Coatings Market: Key Trends and Opportunities
When the operating times of processes conducted in radioactive environments are high, lubricants are replaced with abrasion resistant coatings. This becomes a key factor responsible for the boisterous growth of the global market for abrasion resistant coatings and also testifies the future growth prospects of the market. Furthermore, the properties of abrasion resistant coatings ensure that the material or products retain their quality for long period of time. This is another key standpoint for the growth of the global market for abrasion resistant coatings in the contemporary times.
Huge industries such as oil and gas, transportation, and constructions use abrasion resistant coatings, and this gives a playfield for growth to the market players. It is expected that the rising number of marine operations in the current times would prove to be a boon for the growth of the global market. Furthermore, the power generation sector is also gathering momentum in recent times, and the use of abrasion resistant coatings in this sector is projected to facilitate market growth. Since oil and gas equipment or tools are at a risk of being damaged and eroded, the use of abrasion resistant coatings is rampant across this industry.
Global Abrasion Resistant Coatings Market: Regional Analysis
Industries such as constructions, marine, oil and gas, and power generation have been prospering in North America and Europe. For this reason, the demand for abrasion resistant coatings in these regions has touched new heights over the past decade. Furthermore, the efforts of the governments in these regions to improve the quality of tools and techniques used in the oil and gas, and marine industries have also given an impetus to regional market growth.
Global Abrasion Resistant Coatings Market: Business Landscape
The global market for abrasion resistant coatings consists of the following key players in the contemporary times: Saint Gobain, The Sherwin Williams Company, Jotun A/S, Praxair Surface Technologies Inc., Hardide Plc, Hempel A/S, Bodycote Group, Evonik Industries.
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