New York, NY, July 16, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Glass Flake Coatings Market by Resin (Epoxy, Vinyl Ester, and Polyester), by Substrate (Steel and Concrete), and by End-Use Industry (Oil & Gas, Marine, and Chemical and Petrochemical): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global glass flake coatings market was approximately USD 1.51 billion in 2018 and is expected to generate around USD 2.14 billion by 2026, at a CAGR of around 4.48% between 2019 and 2026.
Glass flake coating is a coating type with glass flakes in it. These glass flakes are transparent that makes them have little interference with the remainder of the coating material. The glass type that is used in these coating mixes depends on the application, as each glass type has its unique set of benefits. The global glass flake coatings market is primarily driven by the increasing substrate coating demand for steel and concrete, for utilization in marine, chemical, and oil industries. There is a demand for advanced and high-efficient coatings in marine and chemical industries, which is likely to create new opportunities for market growth. There has been an increase in the exploration activities of oil and gas resources, which will further boost the glass flake coatings market in the future. However, the market is restrained by the slow growth of petrochemical and other chemical industries in Europe due to the lack of availability of required resources.
Browse through 33 Tables & 40 Figures spread over 110 Pages and in-depth TOC on “Global Glass Flake Coatings Market: By Type, Segments, Industry Size, Share, Market End-Users, Analysis, and Forecast, 2018–2026”.
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On the basis of resin, the market for glass flake coating is divided into epoxy, vinyl ester, and polyester. Epoxy resin is expected to hold the maximum market share in the future, as epoxy resins are widely used in the marine industry due to better durability and superior corrosion resistance that makes it versatile. The high rate of applications of epoxy resins in many industries is expected to drive this segment’s growth in the future.
By substrate, the market for glass flake coatings is divided into steel and concrete. Steel substrates are expected to hold the maximum market share in the future, owing to the wide application of steel substrate in many end-user industries, such as oil and gas, marine, etc.
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On the basis of end-user industry, the glass flake coatings market is divided into oil and gas, marine, chemical, and petrochemical. The marine industry is expected to have maximum market share, both in terms of value and volume, in the future. There has been an increase in global trading, which has fuelled the marine industry to invest more in various projects to build ships that will need more glass flake coatings for ensuring metal protection against corrosion. Thus, the increasing ships demand in the marine industry will drive this segment in the future.
The Asia Pacific glass flake coatings market is estimated to hold the maximum revenue share over the estimated timeframe. There are many shipbuilding and chemical industries in the region, particularly in China and South Korea. The increase in the regional demand for shipbuilding and chemical industries is also expected to drive the glass flake coatings market in the future, as China is one of the biggest manufacturers of glass flake coatings globally.
Browse the full “Glass Flake Coatings Market by Resin (Epoxy, Vinyl Ester, and Polyester), by Substrate (Steel and Concrete), and by End-Use Industry (Oil & Gas, Marine, and Chemical and Petrochemical): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026” Report at https://www.zionmarketresearch.com/report/glass-flake-coatings-market
In North America, the glass flake coatings market has grown rapidly due to the rising demand for bonded wheels. North America held the second spot in the global glass flake coatings market. Glass flake coatings have good resistance to chemicals, oil, gas, moisture, etc., which is further fuelling the regional demand for glass flake coatings. This, in turn, is boosting the North American glass flake coatings market.
The European glass flake coatings market is expected to witness moderate growth over the forecast timespan. This can be attributed to the growing demand for glass flake coatings from marine and petrochemical industries, particularly from Italy and France. Italy and France are expected to be the major contributors in this regional glass flake coatings market.
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Some key players of the global glass flake coatings market are AkzoNobel, BASF, Berger Paints, Chemiprotect Engineers, Chugoku Marine, Clean Coats, Corrosioneering Group, Demech Chemicals, Dulux Group, Grauer & Weil, Hempel, Jotun, KCC Corporation, Kansai Paints, Nippon Paint, PPG Industries, RPM International, The Sherwin-Williams, Specialized Coating Systems, Winn & Coales, and Yung Chi Paint & Varnish.
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This report segments the global glass flake coatings market into:
Global Glass Flake Coatings Market: By Resin
Global Glass Flake Coatings Market: By Substrate
Global Glass Flake Coatings Market: By End-Use Industry
Global Glass Flake Coatings Market: By Region
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