Rockville, June 12, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global glass flake coatings market is estimated to be valued at US$ 1.6 billion in 2023 and is expected to grow at a CAGR of 3.0% during the forecast period of 2023–2033.
The global push for renewable energy, particularly offshore wind farms, is driving the demand for glass flake coatings. These coatings offer excellent protection against harsh marine environments, including saltwater, humidity, and UV exposure. As the offshore wind energy sector continues to grow, the demand for glass flake coatings is expected to rise.
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Further, the presence of glass flakes in the coating matrix contributes to its reinforcement and increased mechanical strength. The overlapping and interlocking structure of the glass flakes enhances the coating's resistance to impact, cracking, and surface damage. This reinforcement makes glass flake coatings ideal for applications where mechanical stress and abrasion resistance are critical.
The glass flake coatings industry is also witnessing advancements in coating technology, leading to improved performance and application ease. Innovations such as low VOC (volatile organic compound) formulations, faster curing times, and enhanced adhesion have expanded the market potential for glass flake coatings.
Key Takeaways from Market Study
- The global glass flake coatings market size reported by Fact.MR for 2022 was US$ 1.5 billion
- The global glass flake coatings market size is estimated to reach US$ 2.1 billion in 2033
- Epoxy glass flake coatings are likely to create an absolute $ opportunity of US$ 337.3 million by the end of 2033
- China is likely to have a growth rate of 6.2% during the forecast period and reach a valuation of US$ 428.6 million 2033
- The glass flake coatings market is likely to create an absolute $ opportunity of US$ 0.6 billion by the end of 2033
“Glass Flake Coatings Reinforcement and Mechanical Strength to Drive the Market Growth in Coming Years” says a Fact.MR analyst.
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Market Growth Stratagems
Glass flake coatings manufacturers focus on research and development to enhance their product portfolio and offer innovative solutions to customers. This includes developing new coating formulations, improving coating properties, and addressing specific application requirements. Some players opt for vertical integration by acquiring or establishing facilities along the value chain. This enables greater control over the manufacturing process, ensures supply chain efficiency, and reduces dependence on external suppliers.
Numerous industries, including oil and gas, maritime, chemical processing, power generation, and automotive, use glass flakes coatings. Market participants frequently focus their efforts on particular industries where they can make the most of their knowledge and profit from consumer demand. Effective marketing tactics are essential for development. To increase awareness, sell their brand, and draw in new clients, businesses invest in marketing activities like advertising, digital marketing, trade show participation, and product demos.
Key Companies Profiled
- BASF SE
- Berger Paints India Ltd.
- Demech Chemical Products Pvt. Ltd.
- Kansai Paint Co. Ltd
- National Paints Factories Co. Ltd.
- Shalimar Paints Limited
Segmentation of Glass Flake Coatings Industry Research
- By Substrate:
- Steel
- Concrete
- By Resin:
- Epoxy
- Vinyl Ester
- Polyester
- By End-Use Industry:
- Oil & Gas
- Marine
- Chemical & Petrochemical
- Others
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the glass flake coatings market, presenting historical market data (2018–2022) and forecast statistics for the period of 2023–2033.
The study reveals essential insights on the basis of the substrate (steel and concrete), resin (epoxy, vinyl ester, and polyester), end-use industry (oil & gas, marine, chemical & petrochemical, and others) and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
Key Questions Covered in the Glass Flake Coatings Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Glass Flake Coatings sales grow until 2033?
- Which are the factors hampering the Glass Flake Coatings demand?
- Which region will spearhead the growth in the global industry by 2033?
- Which are the factors driving sales in the Glass Flake Coatings Market during the forecast period?
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