Global Gelcoat Market 2018-2022
About this market
Gelcoat is widely used in the marine industry to paint the interior and exterior surfaces which will protect metal components from chemical attack and UV radiation. Gelcoat is highly durable and provides an aesthetic appeal and high-quality finish. Due to its superior properties and high quality and durability, it is widely preferred in the marine industry. The new projects and upcoming recreational activities can significantly drive the demand for gelcoat in the marine industry, which will have a significant impact in our forecasted period. The gelcoat market will index a CAGR of more than 7% by 2022.
Increased product differentiation
The varieties of gelcoat differ mainly in the quality of styrene and hybrid mix and polymer base. The difference in the preparation process and the raw materials added can yield gelcoat with different properties such as gel time, curing time, abrasion resistance, and many more. Therefore, the availability of a wide product range can significantly propel the growth of the market.
Availability of substitutes
Acrylic coatings and aliphatic polyurethane coatings are the main substitutes. Gelcoat can fade and break down after prolonged use. The high availability of substitutes is a major hindering factor for the growth of the global gelcoat market.
For the detailed list of factors that will drive and challenge the growth of the gelcoat market during the 2018-2022, view our report.
The gelcoat market is concentrated owing to the presence of a considerable number of players. The availability of wide range of gelcoats in the market to suit the requirement of marine industry. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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