17-Mar-2020 | Zion Market Research
As per experts from Zion Market Research, the global abrasion resistant coatings market is forecasted to develop from USD 8 billion to USD 11.5 billion during 2019–2025, growing with a CAGR of 6.8%. The rising spending in the manufacturing sectors of the Asia Pacific region is anticipated to impel the market. The power generation industry is a chief customer of abrasion resistant coatings. Over the years, the worldwide abrasion resistant coatings market might have witnessed stable growth, owing to its widespread use in many end-use industries. The abrasion resistant coatings are chiefly utilized for reducing or removing surface wear. These coatings are chiefly utilized in application areas that are not ideal for lubricants.
Some of the key players in the global abrasion resistant coatings market are Hempel A/S, AkzoNobel N.V., The Sherwin-Williams Company, Jotun A/S, Saint-Gobain, Praxair Surface Technologies, Henkel, and Sika AG. AkzoNobel is one of the leaders in the production of coatings and paints.
Rising Demand For Better Quality Of Ceramics To Spur Global Abrasion Resistant Coatings Market
The global abrasion resistant coatings present protection to the object from rust. The increasing demand for high-temperature polymer-supported coatings and surged need for better class of ceramic based coatings, and augmenting economies are considered to be leading the worldwide abrasion resistant coatings market. The abrasion resistant coatings are broadly utilized in industries like marine, automotive, power generation, infrastructure, and oil and gas. These coatings are highly utilized for different interior plus exterior applications. The abrasion resistant coatings exhibit better wear characteristics and chemical resistance. Also, the increased upstream and downstream industries globally, surged need for coatings on pipelines & drilling equipment and augmented need for better performance of the product in susceptible surroundings are also anticipated to boost the global abrasion resistant coatings market.
The global abrasion resistant coatings market is categorized on the basis of type, end user, and geography. Based upon the type, the market is divided into metal/ceramic coatings and polymer. Based on the end-use industry, the market is categorized into power generation, oil & gas, marine, mining, transportation, and construction.
North America Projected To Rule The Global Abrasion Resistant Coatings Market
Based on geographical analysis, the global abrasion resistant coatings market is divided into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. North America region is anticipated to lead the worldwide abrasion resistant coatings market since the region has reported rapid expansion of marine and power generation industries. The rising demand for advanced products and fast industrialization can also be accountable for boosting the abrasion resistant coatings market across the region. Another outstanding region in the worldwide abrasion resistant coatings market is Asia Pacific region. The increasing oil and gas industry is considered to be stimulating the abrasion resistant coatings market across the region.
Browse the full “Abrasion Resistant Coatings Market - Segmented By Type (Metal/Ceramic Coatings, Polymer), End User (Oil & Gas, Power Generation, Marine, Transportation, Mining, Construction), And Geography - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 –2025.” Report at https://www.zionmarketresearch.com/report/abrasion-resistant-coatings-market
The global abrasion resistant coatings market is segmented as follows:
By end-use industry:
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