Global Abrasion Resistant Coatings Market Insights Forecasts to 2032
- The Abrasion Resistant Coatings Market Size was valued at USD 10.80 Billion in 2022.
- The Market Size is Growing at a CAGR of 7.2% from 2022 to 2032
- The Worldwide Abrasion Resistant Coatings Market Size is expected to reach USD 15.69 Billion by 2032
- Asia Pacific is expected To Grow the fastest during the forecast period
Get more details on this report -
The Global Abrasion Resistant Coatings Market Size is expected to reach USD 15.69 Billion by 2032, at a CAGR of 7.2% during the forecast period 2022 to 2032.
Specialised coatings known as "abrasion-resistant coatings" are made to shield surfaces from wear, scratches, and abrasion brought on by mechanical friction and coming into touch with abrasive substances. These coatings are applied to surfaces exposed to harsh environments in a variety of industries to increase their toughness and lifetime. They offer a defence that withstands wear from abrasive particles, impact, and friction. Surfaces of industrial machinery and equipment that frequently come into touch with abrasive materials, such as pebbles, sand, and dirt, frequently have abrasion-resistant coatings applied. These coatings lower maintenance costs and increase the lifespan of vital components. Abrasion-resistant coatings are used in the automotive industry to shield car surfaces, such as the paint job and plastic components, against deterioration brought on by ageing, road debris, and stones. They improve the durability and aesthetics of cars.
Impact of COVID-19 On the Global Abrasion Resistant Coatings Market
The pandemic caused global supply chains to become disrupted, which had an impact on the transport and availability of raw materials required for coating production. Logistics were also disrupted by travel restrictions and lockdowns, which caused manufacturing and delivery delays. Due to the pandemic and temporary closures of non-essential firms, the construction, automotive, and industrial sectors—which are key consumers of abrasion-resistant coatings—saw a fall in demand. Depending on the region and industry sector, COVID-19 has had varying effects on the coatings business. Demand for abrasion-resistant coatings may have increased as economies started to bounce as construction, automotive, and industrial activities resumed. The abrasion-resistant coatings industry may have been affected by changes in consumer behaviour and the demand for specific coatings applications during the epidemic.
Global Abrasion Resistant Coatings Market Report Coverage
|Market Size in 2022:||USD 10.80 Billion|
|Forecast Period 2022-2032 CAGR:||7.2%|
|2032 Value Projection:||USD 15.69 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Product Type, By End-Use Property Type, by Region.|
|Companies Covered:||Akzo Nobel N.V., Saint-Gobain, Jotun, The Sherwin-Williams Company, Hempel A/S, Praxair Technology, Inc., Henkel AG, Sika AG, Hardide Plc, Bodycote Group, PPG Industries, Inc., Arkema, and Evonik Industries AG|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
Get more details on this report -
Key Market Drivers
To protect equipment and surfaces from wear and tear brought on by abrasive materials and difficult working circumstances, industries like manufacturing, mining, construction, oil and gas, and automotive rely on abrasion resistance coatings. The need for abrasion resistance coatings grows along with these industries' expansion. The need for abrasion-resistant coatings to shield buildings, pipes, and machinery from abrasion and corrosion is brought on by expanding infrastructure investments in developing nations and ongoing maintenance tasks in industrialised economies. Advanced coatings with higher abrasion resistance, durability, and environmental qualities have been developed as a result of ongoing research and development activities, making them more desirable to end users. Abrasion-resistant coatings are used by the aerospace and defence industries to shield aircraft surfaces, weapons, and equipment against abrasion, increasing their operational effectiveness and lifespan.
Key Market Challenges
Various environmental and health standards that are aimed at lowering emissions and minimising the use of hazardous materials are applicable to the coatings sector. Manufacturers face a problem in creating abrasion-resistant coatings that adhere to these strict criteria while preserving their performance and longevity. Abrasion resistant coatings also need specialised tools and skilled labour to be applied successfully. Intricate surfaces and difficult surroundings can make it difficult to apply coatings in a way that yields dependable and consistent results. Economic turbulence and uncertainty can have an effect on business operations and capital expenditures, which can have an impact on the demand for abrasion-resistant coatings in a variety of industries.
Product Type Insights
Metal/ Ceramic coatings segment to dominate the market over the forecast period
On the basis of product, the global abrasion resistant coatings market is segmented into Metal/Ceramic Coatings and Polymer Coatings. Among these, metal/ ceramic coatings segment is dominating the market over the forecast period. The need for coatings that shield components from wear and abrasion grows as industries continue to develop and evolve. The popularity of these coatings is a result of ongoing advancements in coating compositions, application processes, and substrate preparation techniques. Abrasion-resistant coatings are frequently needed for construction and infrastructure projects in order to increase the lifespan of buildings and machinery.
End Use Insights
Oil and gas segment accounted the largest market share over the forecast period
Based on the end use, the global abrasion resistant coatings market is segmented into Oil & gas, Marine, Power Generation, Transportation, Mining and Construction. Among these, oil and gas segment accounted the largest market share over the forecast period. Drilling tools, pumps, valves, and pipelines are just a few of the pieces of machinery that are crucial to the oil and gas sector. In the course of the extraction, shipping, and refining procedures, these components are subjected to abrasive particles. These equipment surfaces are helped to be protected from wear by abrasion resistant coatings, which also helps to extend their lifespan and save maintenance costs. Safety and dependability are very important in the oil and gas business. Abrasion resistant coatings can save equipment from failing too soon, which could result in expensive downtime or possibly dangerous circumstances.Companies in the oil and gas industry can save money by using abrasion resistant coatings since they increase equipment longevity and reduce the need for frequent replacements.
North America holds the highest market share over the forecast period
Get more details on this report -
Among all other regions, North America holds the highest market share over the forecast period. Oil and gas are produced in large quantities in North America, and as was already noted, this sector is a key user of coatings that are resistant to abrasion in order to protect equipment in the challenging drilling and refining environments. Protective coatings are needed for ongoing infrastructure and construction projects in North America to increase the sturdiness and lifetime of buildings and machinery.
Asia Pacific is witnessing the fastest market growth over the forecast period. To maintain the durability and effectiveness of industrial machinery and equipment, protective coatings are in higher demand as a result of the region's ongoing industrialization and economic expansion. The demand for abrasion-resistant coatings in automotive manufacturing and aftermarket applications has fueled the market's expansion in Asia Pacific, a key hub for the automotive industry. As coating technologies continue to evolve, more effective and long-lasting abrasion-resistant coatings have been created, luring enterprises to the area.
Recent Market Developments
- In June 2018, For the provision of AkzoNobel's medication, Intersleek 1100SR, Nakilat, a Qatar Gas Transport Company, and AkzoNobel signed a two-year agreement. This fluoropolymer coating is placed on the underwater hull to stop any fouling organisms from adhering to it. Abrasion resistance is also provided by this.
List of Key Companies
- Akzo Nobel N.V.
- The Sherwin-Williams Company
- Hempel A/S
- Praxair Technology, Inc.
- Henkel AG
- Sika AG
- Hardide Plc
- Bodycote Group
- PPG Industries, Inc.
- Evonik Industries AG
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Abrasion Resistant Coatings Market based on the below-mentioned segments:
Abrasion Resistant Coatings Market, Product Analysis
- Metal/ Ceramic Coatings
- Polymer Coatings
Abrasion Resistant Coatings Market, End Use Analysis
- Oil & gas
- Power Generation
- Mining and Construction
Abrasion Resistant Coatings Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1.What is the market size of Abrasion Resistant Coatings Market?The global Abrasion Resistant Coatings Market is expected to grow from USD 10.80 Billion in 2022 to USD 15.69 Billion by 2032, at a CAGR of 7.2% during the forecast period 2022-2032.
2.Who are the key market players of Abrasion Resistant Coatings Market?Some of the key market players of Akzo Nobel N.V., Saint-Gobain, Jotun, The Sherwin-Williams Company, Hempel A/S, Praxair Technology, Inc., Henkel AG, Sika AG, Hardide Plc, Bodycote Group, PPG Industries, Inc., Arkema, Evonik Industries AG.
3.Which segment hold the largest market share?Oil and gas holds the largest market share is going to continue its dominance.
4.Which region is dominating the Abrasion Resistant Coatings Market?North America is dominating the Abrasion Resistant Coatings Market with the highest market share.
Need help to buy this report?