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Sales Of Glass Flake Coatings Are Anticipated To Be Valued At US$ 2 Billion By 2032

01-19-2023 01:57 PM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

According to a recent analysis of the glass flake coatings market by the esteemed consulting company Fact.MR, the market is anticipated to reach over US$ 2 billion by 2031 and grow at a CAGR of 3% during the forecast period (2021 to 2031).

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The market has increased dramatically in recent years, topping US$ 1.4 billion in 2016.
Growth prospects drastically decreased as a result of the stoppage of significant industrial activities during COVID-19, with an anticipated value of just over $1 billion in 2020.

Thankfully, flattening infection curves have made it possible to resume industrial operations, which are expected to return estimates to pre-pandemic levels.

Key Companies
• Akzo Nobel N.V
• BASF SE
• Berger Paints India Ltd.
• Chemiprotect Engineers
• Clean Coats P. Ltd.
• Corrosioneering Group
• Demech Chemical Products Pvt. Ltd.
• Grauer & Weil (India) Ltd.

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Key Market Segments Covered

• Substrate
o Steel Glass Flake Coatings
o Concrete Glass Flake Coatings
• Resin
o Epoxy Glass Flake Coatings
o Vinyl Ester Glass Flake Coatings
o Polyester Glass Flake Coatings
• End-use Industry
o Oil & Gas
o Marine Industry
o Chemical & Petrochemical Industry
o Other End-Use Industries
• Region
o North America
 U.S.
 Canada
o Latin America
 Brazil
 Mexico
 Argentina
 Rest of Latin America
o Europe
 Germany
 U.K.
 France
 Spain
 Italy
 Russia
 Rest of Europe
o East Asia
 China
 Japan
 South Korea
o South Asia
 India
 Rest of South Asia
o Oceania
 Australia
 Rest of Oceania
o Middle East & Africa
 GCC
 South Africa
 Rest of MEA

Key Takeaways from Market Study

• Epoxy glass flake coatings to remain most widely used, reaching around US$ 890 million by 2031
• Vinyl ester coatings to experience enhanced uptake, expanding at nearly 3% CAGR through 2031
• Polyester glass flake coatings poised to experience over 2% CAGR across the forecast period
• By end-use industry, marine grade glass flake coating demand to expand at around 5% CAGR
• By substrate, steel glass flake coatings to capture around 40% of total market share
• Demand for glass flake coatings in the U.S. to incline, being valued at over US$ 400 million in 2020
• The market in China to experience a CAGR of around 6% and reach nearly US$ 380 million amid uptake across vessel maintenance

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Competitive Landscape

Prominent glass flake coating manufacturers are reliant on a slew of expansion strategies, ranging from offering innovative products to forging strategic alliances or acquiring existing players within the market.
• Chemiprotect Engineers, for instance, offers a broad range of glass flake coating and lining systems which are 100% solid and manufactured from epoxy, polyester, vinyl ester, novalac vinyl ester, novalac epoxy and bisphonel.
• In January 2020, Corossioneering Group launched a new epoxy glass flake lining providing durable chemical protection in aggressive atmospheric conditions and immersed environments through its CORROCOAT subsidiary.

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