LONDON--(BUSINESS WIRE)--Technavio’s analysts forecast the global gelcoat market to grow at a CAGR of nearly 8% during the forecast period, according to their latest market research report.
The growing demand for low-styrene emission gelcoat is one of the major trends being witnessed in the global gelcoat market 2018-2022. The emission of harmful HAPs, volatile organic compound, and styrene from gelcoat can affect the growth of paints, coatings, and resins. Such toxic substances can be dangerous on exposure for lengthy durations during production, processing, or application.
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According to Technavio’s analysts, one of the key factors contributing to the growth of the global gelcoat market is the increased product differentiation.
Global gelcoat market: Increased product differentiation
A wide range of gelcoat products for various end-use applications are available in the market. The various types of gelcoat manufactured by leading vendors in the world includes solid color gelcoat, clear cultured marble gelcoat, abrasion-resistant gelcoat, low-hazardous air pollutant cultured marble gelcoat, solid color marine gelcoat, clear vinyl ester hybrid tooling gelcoat, black vinyl ester tooling gelcoat, red vinyl ester hybrid tooling gelcoat, aluminized vinyl ester tooling gelcoat, isophthalic gelcoat, grey primer gelcoat, and solid roofing gelcoat.
According to a senior analyst at Technavio for research on specialty chemicals, “The varieties of gelcoat differ mainly in the quantity of styrene and hybrid mix and polymer base. The difference in the preparation process and the raw materials added can produce gelcoat with different properties such as film gel time, curing time, abrasion resistance, tensile strength, durability, UV resistance, viscosity, and blister resistance. Therefore, the availability of a wide product range to significantly drive market growth.”
Global gelcoat market: Segmentation analysis
The global gelcoat market research report provides market segmentation by end-user (marine, transportation, wind energy, construction, and others) and by region (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The marine segment held the largest market share in 2017, accounting for nearly 32% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 43%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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