Global Rail Coatings Market - Segmented by Resin Type, Technology, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The Rail Coatings market is estimated to experience significant growth during the forecast period. Asia-Pacific is expected to hold the largest share of the market. Water-borne is expected to be the fastest growing technology.
Developing high speed rails in APAC set to propel growth of the Rail Coatings Market
High-speed rails are in developmental phase in countries, such as China, Japan, South Korea, and Taiwan. East Asian high-speed railway network is dominated by China, with projects, such as Beijing-Tianjin high-speed rail and Shitai Passenger Railway heading the developmental phase. Moreover, the high-speed railway network in China is likely to be larger than the combined length and capacity of the rest of the world. Developments are also in full fledge in Japan and South Korea
Water-based Technology - The Fastest Growing by Technology
There are many regulations from several governments which supports water-based coatings. These are usually used in several applications, which includes transportation, building and construction, and industrial applications. Water-borne exhibits high mechanical strength and toughness, along with electrical and thermal properties. The absence of isocyanate, flammable constituents, and costly ventilation systems makes water-based coatings as the first option.
Asia-Pacific is set to dominate the region during the forecast period
The urban railway network in Asia-Pacific has undergone high growth in the recent years. At the end of 2017, China’s urban rail tracking crossed 5,000 km. Chinese cities started 33 new lines totaling around 870 km in the year 2017, a 62.5% increase compared to 2016 with 534 km of new lines completed. China accounts for over 65% of world’s total HSR systems. Indian government announced a budget of USD 23.3 billion for Indian Railways for the year 2018-19, which is the highest in Indian Railway’s history and 13% more than the railway budget of 2017-18. With the upcoming high-speed rail (HSR) projects in Singapore, South Korea, Thailand, etc., the market for high-speed rail coatings in the region is to grow at a fast rate.
Notable Developments in the Rail Coatings Market
July 2017: AkzoNobel offered special golden metallic coatings first for Chinese high-speed train model
September 2016: Axalta’s powder coatings support Shanghai’s new metro line
Major Key Players: Akzo Nobel NV, PPG Industries, and 3M, among others.
Reasons to Purchase Rail Coatings Market Report
To understand the impact of increasing impact of VOC regulations on the market.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating technology in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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