Gelcoat Market to Undertake Strapping Growth During 2026
Gelcoat
is a substance used to provide a superior finishing on a surface of a
fiber-reinforced composite used to protect structural laminates.
Isophthalic acid-based resins are used to manufacture gelcoats. The
common gelcoat are thermosetting polymers based on epoxy or
unsaturated polyester resin. Gelcoats are modified resins which are
applied to molds in a liquid state. These coats offer various
properties such as corrosion resistance, UV degradation and water
absorption. The selection of isophthalic acid-based resins increases
water retention and blister resistance by gelcoats.
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Increase
in demand for composites to reduce weight and enhancing fuel
efficiency of the transportation systems such as railways, autos, and
leisure vehicles plays propels the requirement for gelcoats in the
transportation industry. These coats are available in brush and spray
forms of suitable thickness so that laminate is not susceptible to
any cracking damage with various uses in marine, wind, construction,
and transportation industries. Most gelcoats are used in the marine
industry.
GELCOAT
MARKET: SEGMENTATION
The
global gelcoat market can be segmented based on resin, end-user
industry, and region. In terms of resin, the global gelcoat market
can be classified into polyester, vinyl ester, epoxy, and others.
Polyester gelcoats are widely used due to the increase in demand for
polyester resin in transportation and marine industries. Polyester
and vinyl ester resin gelcoats are used in the marine industry due to
their unique properties such as corrosion resistance, UV degradation,
and water absorption.
Based
on end-use industry, the gelcoat market can be classified into
marine, transportation, construction, wind, and others. According to
National Marine Manufacturers Association, approximately 95% of
powerboats sold in the U.S. are manufactured in the U.S. itself.
Gelcoats are widely used in marine applications such as decks, ship
hulls and motor yachts & power boats which are made of high
quality fiber reinforced plastics, which are gelcoated.
GELCOAT
MARKET: REGIONAL OUTLOOK
Based
on region, the global gelcoat market can be segregated into Asia
Pacific, Europe, Latin America, North America, and Middle East &
Africa. North America is estimated to continue to dominate the global
gelcoat market during the forecast period. Rise in marine boat safety
in countries such as the U.S. and Canada is a major factor driving
the demand for global gelcoat market. The U.S. is a major consumer of
gelcoat globally. Rise in demand for gelcoat in the U.S. can be
attributed to the recovery of the marine industry after an economic
recession.
The
market in Asia Pacific is anticipated to expand at a moderate pace
due to the growth in building & construction industry. However,
the amount of gelcoat used in building & construction industry is
lesser compare that that in the marine industry.
GELCOAT
MARKET: KEY PLAYERS
The
global gelcoat market is fragmented and a large number of companies
operate on global and regional levels. Major companies operating in
the market include Synergys Technologies, Bang and Bonsomer, Ashland,
Alpha Owens-Corning (AOC) Resins, HK Research, Nuplex Industries
Ltd., Reichhold LLC, CCP Composites, Fibre Glass Development
Corporation, Axson Technologies, and Scott Bader.Ashland Inc., BUFA
GmbH & Co. KG, HK Research Corporation, Nuplex Industries Ltd.,
Polynt S.p.A, Reichhold LLC, and Scott Bader Company Limited.
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In
the 2017, Bang and Bonsomer launched a new gelcoat manufacturing unit
at Kokkola site in Finland. This unit manufactures the highly valued
Polycor gelcoats. This investment is expected to help the company
establish its footprints in Finland and diversify its business.
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