Key Questions Answered in Report
How will demand for glass flake coatings grow across the 2021-2031 forecast period?
According to Fact.MR, by 2031, sales of glass flake coatings are anticipated to be valued at just under US$ 2 billion, expanding at a CAGR around 3% across the 2021-2031 assessment period.
Which resin is expected to be most widely deployed for the manufacturing of glass flake coatings?
By resin, epoxy glass flake coatings are expected to reach around US$ 890 million by 2031, expanding at a CAGR of approximately 4% throughout the forecast period.
Which region is likely to generate maximum expansion opportunities for glass flake coating manufacturers?
China is anticipated to emerge as the most potential market for glass flake coatings, expand at nearly 6% CAGR, to reach above US$ 380 million by 2031, attributed to extensive application in the shipbuilding industry.
Which end-use industry is anticipated to be the most promising for glass flake coating suppliers?
By end-use industry, the marine segment is poised to yield major growth opportunities for glass flake coating manufacturers, expected to register a CAGR of around 5% throughout the forecast period.
Report Also Addresses:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Glass Flake Coatings and How to Navigate
- Recommendation on Key Winning Strategies
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Glass Flake Coatings Sales from 2016-2020 Vs Future Market Projections for 2021-2031
From 2016 to 2020, sales of glass flake coatings expanded at under 5% CAGR, with growth majorly underpinned by extensive uptake across such key industrial verticals as oil & gas, chemicals & petrochemicals and marine industries respectively.
Prospects dipped significantly in 2020, amidst the COVID-19 pandemic crisis, attributed to an abrupt cessation of industrial activities such as oil & gas exploration and drilling. Hence, growth prospects have been revised to project a more modest outlook to be valued at just under US$ 2 billion and expanding at a CAGR of 3% until 2031.
How is a Flourishing Shipbuilding Industry Providing Tailwinds to Glass Flake Coating Sales?
As international trade and commerce continues to expand, investment in appropriate infrastructure such as ports and ships is also increasing. Major shipbuilding corporations are emphasizing on incorporating durable, long-lasting and robust construction material invulnerable to corrosion, abrasion or damage from abiotic elements.
As ships are constantly at sea, they are extremely prone to frequent damage due to corrosion as a result of constant exposure to water, air and other undesired external agents, leading to increased maintenance cycles. Hence, glass flake coatings help prevent this damage, as well as provide enhanced thermal stability.
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Will Increased Spending on Pipeline Infrastructure Projects Augment Demand for Glass Flake Coatings?
With the world’s insatiable demand for energy increasing, governments worldwide are implementing various projects, including pipelines to transport oil & natural gas. This is opening up growth frontiers for glass flake coatings in the forthcoming decade.
Major construction projects currently in the pipeline include the Druzhba Pipeline Extension Project, the West-East Gas Pipeline Phase IV project and the Pluto LNG Expansion Project among others. These pipes require heavy insulation against external shocks to prevent any damage, thus elevating prospects for glass flake coatings.
How Will the U.S Shape Future Glass Flake Coating Demand?
Demand for glass flake coatings was valued at over US$ 400 million across the U.S. in 2020. Extensive uptake is anticipated across the oil & gas segment in the wake of surging exploration and extraction projects likely to be implemented across the future.
According to NES Fircroft, as of 2019, ten of the biggest oil & gas exploration projects contributed over US$ 207 billion. Furthermore, the incumbent government has pledged US$ 253.4 million for the Bureau of Safety and Environmental Enforcement (BSEE) which will see implementation of stricter safety standards during exploration projects, uplifting demand.
Why are Prominent Manufacturers of Glass Flake Coatings Eyeing China?
China is anticipated to surpass US$ 380 million by 2031, expanding at nearly 6% CAGR across the forecast period. Extensive development of port infrastructure to facilitate foreign trade is enhancing investments in vessel safety, thus heightening deployment.
As per the China Association of the National Shipbuilding Industry (CANSI), output for Q1 2021 was nearly 10 million deadweight tonnage (dwt), an increase of nearly 40%. Hence, manufacturers are finding healthy ground for glass flake coatings production to help shipping giants prevent losses due to corrosion and abrasion.
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Why are Epoxy Flake Glass Coatings Grabbing Significant Attention?
By resin, demand for epoxy flake glass coatings is projected to record a CAGR of nearly 4%, being valued at approximately US$ 890 million by 2031. The ability of epoxy resins to be used in harsh environments renders them highly suitable for uptake.
In 2018, Akzo Nobel launched the Interzone 954GF international range of protective coatings, containing a high level of lamellar glass flake for enhanced abrasion and corrosion protection. Such product launches are heightening prospects for the market.
Why is the Marine Industry Generating High Demand for Glass Flake Coatings?
By end-use industry, uptake of glass flake coatings is expected to be the maximum across the marine industry, attributed to increased volume of trade which has necessitated enhanced investment in shipbuilding activities, a core end-user of these coatings.
As per Fact.MR’s estimates, the marine segment is poised to register a CAGR of around 5% throughout the forecast period. Such increasing projects are spurring demand for novel solutions to protect vessels from corrosion, fouling, abrasion and UV degradation.
Prominent glass flake coating manufacturers are reliant on a slew of expansion strategies, ranging from offering innovative products to forging strategic alliances or acquiring existing players within the market.
- Chemiprotect Engineers, for instance, offers a broad range of glass flake coating and lining systems which are 100% solid and manufactured from epoxy, polyester, vinyl ester, novalac vinyl ester, novalac epoxy and bisphonel.
- In January 2020, Corossioneering Group launched a new epoxy glass flake lining providing durable chemical protection in aggressive atmospheric conditions and immersed environments through its CORROCOAT subsidiary.
*This list is indicative- full details about key market players is available upon request
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|Historical Data Available for||2016-2020|
|Market Analysis||US$ Mn for Value & ‘000 Units for Volume|
|Key Regions Covered||
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
|Pricing||Available upon Request|
Key Market Segments Covered
- Steel Glass Flake Coatings
- Concrete Glass Flake Coatings
- Epoxy Glass Flake Coatings
- Vinyl Ester Glass Flake Coatings
- Polyester Glass Flake Coatings
- Glass Flake Coatings for Oil & Gas
- Glass Flake Coatings for Marine Industry
- Glass Flake Coatings for Chemical & Petrochemical Industry
- Glass Flake Coatings for Other End-Use Industries
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia
- Rest of South Asia
- Rest of Oceania
- Middle East & Africa
- South Africa
- Rest of MEA
- North America
Glass Flake Coatings Market - Scope of Report
A recent study by Fact.MR on the glass flake coatings market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering glass flake coatings.
The study also provides the dynamics responsible for influencing the future status of the glass flake coatings market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing glass flake coatings, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of glass flake coatings across the globe.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of glass flake coatings during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative glass flake coatings markets?
- Which factors will impact the growth of the glass flake coatings market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the glass flake coatings industry?
- What are the winning strategies of stakeholders in the market?
Analysis on Market Size Evaluation
The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).
Market estimates at global and regional levels for glass flake coatings are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global glass flake coatings market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the glass flake coatings market during the forecast period.
Country-specific valuation on demand for glass flake coatings has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of glass flake coatings, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering glass flake coatings has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the glass flake coatings market, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.