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Gelcoat Market by Resin Type (Polyester, Vinyl Ester, Epoxy), End Use Industry (Marine, Transportation, Construction, Wind Energy), Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Global Forecast to 2024

  • ID: 4752995
  • Report
  • February 2019
  • Region: Global, North America, Europe, Asia Pacific, Middle East, Africa
  • 131 Pages
  • Markets and Markets
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The Gelcoat Market Size is Estimated at USD 1.2 Billion in 2019 and is Projected to Reach USD 1.7 Billion by 2024, at a CAGR of 8.0% Between 2019 and 2024

FEATURED COMPANIES

  • Allnex
  • HK Research Corporation
  • Interplastic Corporation
  • Polynt-Reichhold Group
  • Satyen Polymers
  • Sika Advanced Resins
  • MORE

The gelcoat market is projected to register a CAGR of 8.0%, in terms of value between 2019 and 2024.

The gelcoat market size is estimated at USD 1.2 billion in 2019 and is projected to reach USD 1.7 billion by 2024, at a CAGR of 8.0% between 2019 and 2024. Gelcoats are used in different industries such as marine, transportation, construction, wind energy, and others. They exhibit various properties such as gloss, long durability, flexibility, stiffness, strength, chemical resistance, corrosion resistance, weather resistance, and UV resistance. The superior properties offered by gelcoat are enabling its usage in the end-use industries. However, cracking of gelcoat and uncertainty in PTC affecting the wind energy industry are the major factors restraining the market growth.

Epoxy resin-based gelcoat is projected to register the highest CAGR between 2019 and 2024 in terms of value and volume.

Gelcoats are used in the FRP industry specially manufactured in-mold surface coatings to offer high-class visible surface. There are mainly four types of resins used in making gelcoats, which include polyester, vinyl ester, epoxy, and other resins that include polyurethane, phenolic, and acrylic. Gelcoats are mainly produced using polyester resins that have applications in spas, automotive body parts, hull, boats, and others. Epoxy-based gelcoat is expected to register the highest CAGR during the forecast period. Epoxy resin-based gelcoat has good covering and spreading properties. It is also easily workable inside the mold. It is used in master molds.

The wind energy end-use industry is expected to register the highest CAGR between 2019 and 2024 in the global gelcoat market.

Wind energy is projected to be the fastest-growing end-use industry of gelcoat during the forecast period, in terms of both value and volume. Gelcoat is widely used in wind blades and nacelles. The increasing wind energy installations in APAC, Europe, and North America is bolstering the use of gelcoat in the wind energy industry. Gelcoats are used on the surface of wind blades made of polymers because of their adequate chemical protection and UV resistance properties. Due to their corrosion, water, high mechanical loads, weathering, and abrasion resistance properties, gelcoats are widely used in the wind energy industry.

The gelcoat market in APAC is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2024.

The gelcoat market in APAC is projected to register the highest CAGR during the forecast period, in terms of both value and volume. This growth can be attributed to the increasing demand for gelcoat from the transportation, marine, construction, and wind energy end-use industries. The booming transportation and construction industries are responsible for the growth of the gelcoat market in the region. China is one of the prominent consumers of gelcoat in the region. The country has become the single-largest consumer of gelcoat in the wind energy industry and is expected to strengthen its position further.

Breakdown of profiles of primary interviews for the report on the gelcoat market

  • By Company: Tier 1 - 37%, Tier 2 - 42%, and Tier 3 - 21%
  • By Designation: C level - 30%, Director level - 25%, and Others - 45%
  • By Region: North America - 20%, Europe - 27%, Asia Pacific -40%, Middle East & Africa - 7%, and Latin America - 6%

The gelcoat market comprises major solution providers such as Ineos Enterprise (UK), Bufa Composite Systems GmbH (Germany), HK Research Corporation (US), Allnex (Germany), Scott Bader Company (UK), Poliya Composites Resins and Polymers (Turkey), Interplastic Corporation (US), Alpha Owens Corning (AOC) Aliancys (US), Polynt-Reichhold Group (US), and Turkuaz Polyester (Turkey). The study includes an in-depth competitive analysis of these key players in the gelcoat market, with their company profiles, recent developments, and key market strategies.

Research Coverage

The market study covers the gelcoat market. It aims at estimating the market size and the growth potential of this market across different segments, such as resin, end-use industry, and region. Porter’s Five Forces analysis and the key market dynamics, such as drivers, restraints, challenges, and opportunities, influencing the growth of the gelcoat market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.

Key Benefits of Buying the Report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall gelcoat market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Allnex
  • HK Research Corporation
  • Interplastic Corporation
  • Polynt-Reichhold Group
  • Satyen Polymers
  • Sika Advanced Resins
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions
2.5 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Gelcoat Market
4.2 Gelcoat Market, By End-Use Industry
4.3 Gelcoat Market, By Resin
4.4 Gelcoat Market, By Country

5 Market Overview
5.1 Introduction
5.2 Drivers
5.2.1 Growing Use of Composites in Various Industries
5.2.2 Useful Properties Offered By Gelcoat
5.2.3 Increase in Demand for Gelcoat in the Transportation Industry
5.3 Restraints
5.3.1 Uncertainty in Ptc Affecting the Wind Energy Industry
5.3.2 Shift Toward Closed Molding Process Affecting the Use of Gelcoat
5.3.3 Cracking of Gelcoat
5.4 Opportunities
5.4.1 Emerging Wind Energy Industry
5.4.2 Growing Demand From the APAC Region
5.5 Challenges
5.5.1 Government Regulations
5.6 Porter’s Five Forces Analysis
5.6.1 Threat of New Entrants
5.6.2 Threat of Substitutes
5.6.3 Bargaining Power of Suppliers
5.6.4 Bargaining Power of Buyers
5.6.5 Intensity of Competitive Rivalry
5.7 Value Chain Analysis
5.8 Price Analysis
5.9 Technology Development
5.10 New Technology and Impact Analysis
5.11 Growth Influencing Factors, By End-Use Industry

6 Macroeconomic Overview and Key Trends
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Trends of the Automotive Industry
6.4 Trends and Forecast of the Construction Industry

7 Gelcoat Market, By Resin
7.1 Introduction
7.2 Polyester
7.2.1 Various Outstanding Properties of Polyester Make It the Most Widely Used Resin for Gelcoat
7.3 Vinyl Ester
7.3.1 Corrosion Resistance and Durability are the Prime Properties of Vinyl Ester Resin-Based Gelcoat
7.4 Epoxy
7.4.1 Gelcoat Based on Epoxy Resin has Various thermal and Mechanical Properties
7.5 Others

8 Gelcoat Market, By End-Use Industry
8.1 Introduction
8.2 Marine
8.2.1 Marine is the Major End-Use Industry of Gelcoat
8.3 Transportation
8.3.1 The Use of Fiber Reinforced Components is Contributing to the Growing Demand for Gelcoat in This Industry
8.4 Construction
8.4.1 Gelcoat is Used in the Construction Industry Mainly Due to Its Properties Such as Resistance to Corrosion, Water, Chemicals, and Uv Rays
8.5 Wind Energy
8.5.1 Gelcoat is Widely Used in Different Applications of the Wind Energy Industry
8.6 Others

9 Gelcoat Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Growing Composites Industry is Propelling the Us Gelcoat Market
9.2.2 Canada
9.2.2.1 Marine Industry is the Major Driver for the Gelcoat Market in Canada
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany is the Leading Consumer of Gelcoat in Europe
9.3.2 Italy
9.3.2.1 Growing Demand for High-Strength Gelcoat is A Governing Factor for the Market in Italy
9.3.3 France
9.3.3.1 Marine and Transportation Industries Generate A High Demand for Gelcoat in France
9.3.4 UK
9.3.4.1 Transportation Industry is One of the Major End-Users of Gelcoat in the UK
9.4 APAC
9.4.1 China
9.4.1.1 The Presence of Many Gelcoat Manufacturers in the Country Help in the Market Growth
9.4.2 India
9.4.2.1 Growing Focus on Wind Energy Industry is Propelling the Gelcoat Market in the Country
9.4.3 Japan
9.4.3.1 The Presence of Major Composites Manufacturers in the Country Contributes to the Market Growth
9.5 Latin America
9.5.1 Brazil
9.5.1.1 Growing Number of Wind Energy Installations is Driving the Market in Brazil
9.5.2 Mexico
9.5.2.1 Marine and Transportation Industries Generate A High Demand for Gelcoat in Mexico
9.6 MEA
9.6.1 UAE
9.6.1.1 UAE is A Growing Market for Gelcoat in the Region Due to the Country’s Booming Construction Industry
9.6.2 Saudi Arabia
9.6.2.1 Major Demand for Gelcoat is Generated From the Construction Industry in Saudi Arabia

10 Competitive Landscape
10.1 Overview
10.2 Recent Developments
10.2.1 Expansion
10.2.2 Agreement & Partnership
10.2.3 New Product Launch
10.2.4 Merger & Acquisition
10.3 Market Ranking of Top 5 Players in the Gelcoat Market
10.4 Competitive Benchmarking
10.4.1 Tier 1 Companies
10.4.1.1 Dynamic Differentiators
10.4.1.2 Innovators
10.4.1.3 Vanguard
10.4.1.4 Emerging
10.4.2 Competitive Benchmarking of Tier 1 Companies
10.4.2.1 Product Offering
10.4.2.2 Business Strategy
10.4.3 Tier 2 and 3 Companies
10.4.3.1 Dynamics Differentiators
10.4.3.2 Innovators
10.4.3.3 Vanguard
10.4.3.4 Emerging Companies
10.4.4 Competitive Benchmarking Tier 2 and 3 Companies
10.4.4.1 Product Offering
10.4.4.2 Business Strategy

11 Company Profiles
11.1 Ineos Enterprise
11.2 Bufa Composite Systems Gmbh
11.3 HK Research Corporation
11.4 Allnex
11.5 Scott Bader Company
11.6 Poliya Composites Resins and Polymers
11.7 Interplastic Corporation
11.8 Alpha Owens-Corning (AOC) Aliancys
11.9 Polynt-Reichhold Group
11.10 Turkuaz Polyester
11.11 Other Companies
11.11.1 Sika Advanced Resins
11.11.2 Grm Systems S.R.O.
11.11.3 Satyen Polymers
11.11.4 Vikram Resins and Polymers
11.11.5 Mader Group
11.11.6 Resoltech
11.11.7 Zhejiang Leader Composite Co., Ltd.
11.11.8 Changzhou Huake Polymers Co., Ltd.
11.11.9 Eternal Synthetic Resins (Changsu) Co., Ltd.
11.11.10 Jiangsu Fullmark Chemicals Co. Ltd China

12 Appendix
12.1 Discussion Guide
12.2 Knowledge Store: Subscription Portal
12.3 Available Customizations
12.4 Related Reports
12.5 Author Details

List of Tables
Table 1 Gelcoat Market Size, 2017-2024
Table 2 Trends and Forecast of GDP, USD Billion (2017-2022)
Table 3 Automotive Production, Million Units (2011-2017)
Table 4 Contribution of the Construction Industry in North America, USD Billion (2015-2022)
Table 5 Contribution of the Construction Industry in Europe, USD Billion (2015-2022)
Table 6 Contribution of the Construction Industry in APAC, USD Billion (2015-2022)
Table 7 Contribution of the Construction Industry in MEA, USD Billion (2015-2022)
Table 8 Contribution of the Construction Industry in Latin America, USD Billion (2015-2022)
Table 9 Gelcoat Market Size, By Resin, 2017-2024 (Kiloton)
Table 10 Gelcoat Market Size, By Resin, 2017-2024 (USD Million)
Table 11 Polyester Resin-Based Gelcoat Market, By Region, 2017-2024 (Kiloton)
Table 12 Polyester Resin-Based Gelcoat Market, By Region, 2017-2024 (USD Million)
Table 13 Vinyl Ester Resin-Based Gelcoat Market, By Region, 2017-2024 (Kiloton)
Table 14 Vinyl Ester Resin-Based Gelcoat Market, By Region, 2017-2024 (USD Million)
Table 15 Epoxy Resin-Based Gelcoat Market, By Region, 2017-2024 (Kiloton)
Table 16 Epoxy Resin-Based Gelcoat Market, By Region, 2017-2024 (USD Million)
Table 17 Other Resins-Based Gelcoat Market, By Region, 2017-2024 (Kiloton)
Table 18 Other Resins-Based Gelcoat Market, By Region, 2017-2024 (USD Million)
Table 19 Gelcoat Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 20 Gelcoat Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 21 Gelcoat Market in Marine End-Use Industry, By Region, 2017-2024 (Kiloton)
Table 22 Gelcoat Market in Marine End-Use Industry, By Region, 2017-2024 (USD Million)
Table 23 Gelcoat Market in Transportation End-Use Industry, By Region, 2017-2024 (Kiloton)
Table 24 Gelcoat Market in Transportation End-Use Industry, By Region, 2017-2024 (USD Million)
Table 25 Gelcoat Market in Construction End-Use Industry, By Region, 2017-2024 (Kiloton)
Table 26 Gelcoat Market in Construction End-Use Industry, By Region, 2017-2024 (USD Million)
Table 27 Gelcoat Market in Wind Energy End-Use Industry, By Region, 2017-2024 (Kiloton)
Table 28 Gelcoat Market in Wind Energy End-Use Industry, By Region, 2017-2024, (USD Million)
Table 29 Gelcoat Market in Other End-Use Industries, By Region, 2017-2024 (Kiloton)
Table 30 Gelcoat Market in Other End-Use Industries, By Region, 2017-2024 (USD Million)
Table 31 Gelcoat Market Size, By Region, 2017-2024 (Kiloton)
Table 32 Gelcoat Market Size, By Region, 2017-2024 (USD Million)
Table 33 North America: Gelcoat Market Size, By Resin, 2017-2024 (Kiloton)
Table 34 North America: Gelcoat Market Size, By Resin, 2017-2024 (USD Million)
Table 35 North America: Gelcoat Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 36 North America: Gelcoat Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 37 North America: Gelcoat Market Size, By Country, 2017-2024 (Kiloton)
Table 38 North America: Gelcoat Market Size, By Country, 2017-2024 (USD Million)
Table 39 US: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 40 US: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 41 Canada: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 42 Canada: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 43 Europe: By Market Size, By Resin, 2017-2024 (Kiloton)
Table 44 Europe: By Market Size, By Resin, 2017-2024 (USD Million)
Table 45 Europe: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 46 Europe: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 47 Europe: By Market Size, By Country, 2017-2024 (Kiloton)
Table 48 Europe: By Market Size, By Country, 2017-2024 (USD Million)
Table 49 Germany: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 50 Germany: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 51 Italy: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 52 Italy: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 53 France: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 54 France: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 55 UK: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 56 UK: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 57 APAC: By Market Size, By Resin, 2017-2024 (Kiloton)
Table 58 APAC: By Market Size, By Resin, 2017-2024 (USD Million)
Table 59 APAC: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 60 APAC: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 61 APAC: By Market Size, By Country, 2017-2024 (Kiloton)
Table 62 APAC: By Market Size, By Country, 2017-2024 (USD Million)
Table 63 China: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 64 China: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 65 India: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 66 India: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 67 Japan: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 68 Japan: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 69 Latin America: By Market Size, By Resin, 2017-2024 (Kiloton)
Table 70 Latin America: By Market Size, By Resin, 2017-2024 (USD Million)
Table 71 Latin America: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 72 Latin America: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 73 Latin America: By Market Size, By Country, 2017-2024 (Kiloton)
Table 74 Latin America: By Market Size, By Country, 2017-2024 (USD Million)
Table 75 Brazil: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 76 Brazil: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 77 Mexico: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 78 Mexico: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 79 MEA: By Market Size, By Resin, 2017-2024 (Kiloton)
Table 80 MEA: By Market Size, By Resin, 2017-2024 (USD Million)
Table 81 MEA: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 82 MEA: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 83 MEA: By Market Size, By Country, 2017-2024 (Kiloton)
Table 84 MEA: By Market Size, By Country, 2017-2024 (USD Million)
Table 85 UAE: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 86 UAE: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 87 Saudi Arabia: By Market Size, By End-Use Industry, 2017-2024 (Kiloton)
Table 88 Saudi Arabia: By Market Size, By End-Use Industry, 2017-2024 (USD Million)
Table 89 Expansion, 2014-2019
Table 90 Agreement & Partnership, 2014-2019
Table 91 New Product Launch, 2014-2019
Table 92 Merger & Acquisition, 2014-2019

List of Figures
Figure 1 Gelcoat Market Segmentation
Figure 2 Years Considered for the Study
Figure 3 Gelcoat Market: Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation: Top-Down Approach
Figure 6 Gelcoat Market: Data Triangulation
Figure 7 Polyester to Be the Largest Resin for Gelcoat
Figure 8 Marine End-Use Industry Accounted for the Maximum Share in the Gelcoat Market in 2018
Figure 9 China is Projected to Register the Highest Cagr
Figure 10 APAC to Witness the Highest Growth in Gelcoat Market
Figure 11 Growth Opportunities in the Gelcoat Market Between 2019 and 2024
Figure 12 Marine to Be the Leading End-Use Industry of Gelcoat
Figure 13 Polyester to Be the Dominating Segment of the Gelcoat Market
Figure 14 India to Register the Highest Cagr in the Gelcoat Market
Figure 15 Drivers, Restraints, Opportunities, and Challenges Governing the Gelcoat Market
Figure 16 Gelcoat Market: Porter’s Five Forces Analysis
Figure 17 Gelcoat Market Value Chain
Figure 18 Automotive Production in Key Countries, Million Units (2017 vs. 2016)
Figure 19 Contribution of the Construction Industry in North America, USD Billion (2017 vs. 2022)
Figure 20 Contribution of the Construction Industry in Europe, USD Billion (2017 vs. 2022)
Figure 21 Contribution of the Construction Industry in APAC, USD Billion (2017 vs. 2022)
Figure 22 Contribution of the Construction Industry in MEA, USD Billion (2017 vs. 2022)
Figure 23 Contribution of the Construction Industry in Latin America, USD Billion (2017 vs. 2022)
Figure 24 Polyester to Be the Leading Resin for Gelcoat
Figure 25 APAC to Be the Fastest Growing Market for Polyester Resin-Based Gelcoat
Figure 26 Marine to Be the Leading End-Use Industry of Gelcoat
Figure 27 Marine is the Largest End-Use Industry of Gelcoat in North America
Figure 28 India to Register the Highest Cagr
Figure 29 North America: Gelcoat Market Snapshot
Figure 30 Europe: Gelcoat Market Snapshot
Figure 31 APAC: Gelcoat Market Snapshot
Figure 32 Brazil to Register the Highest Cagr
Figure 33 UAE to Be the Fastest-Growing Gelcoat Market in MEA
Figure 34 Companies Adopted Expansion and New Product Launch as the Key Growth Strategies Between 2014 and 2019
Figure 35 Market Ranking of Top Five Players in Gelcoat Market
Figure 36 Dive Chart
Figure 37 Dive Chart
Figure 38 Ineos Enterprise: SWOT Analysis
Figure 39 Bufa Composite Systems Gmbh: SWOT Analysis
Figure 40 HK Research Corporation: SWOT Analysis
Figure 41 Allnex: SWOT Analysis
Figure 42 Scott Bader Company: Company Snapshot
Figure 43 Scott Bader Company: SWOT Analysis

Note: Product cover images may vary from those shown
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  • Allnex
  • Alpha Owens-Corning (AOC) Aliancys
  • Bufa Composite Systems Gmbh
  • Changzhou Huake Polymers Co., Ltd.
  • Eternal Synthetic Resins (Changsu) Co., Ltd.
  • Grm Systems S.R.O.
  • HK Research Corporation
  • Ineos Enterprise
  • Interplastic Corporation
  • Jiangsu Fullmark Chemicals Co. Ltd China
  • Mader Group
  • Poliya Composites Resins and Polymers
  • Polynt-Reichhold Group
  • Resoltech
  • Satyen Polymers
  • Scott Bader Company
  • Sika Advanced Resins
  • Turkuaz Polyester
  • Vikram Resins and Polymers
  • Zhejiang Leader Composite Co., Ltd.
Note: Product cover images may vary from those shown
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