Market Analysis: Global Sol-Gel Coatings Market
Global Sol-Gel Coatings Market is expected to rise from its initial estimated value of USD 2.23 billion in 2018 to an estimated value of USD 5.23 billion by 2026, registering a CAGR of 11.25% in the forecast period of 2019-2026. This rise in market value can be attributed to the advancements in technology and introduction of modern advanced products with a lower volatile organic compound content.
Key Market Competitors: Global Sol-Gel Coatings Market
Few of the major competitors currently working in the sol-gel coatings market are SOCOMORE, Akzo Nobel N.V., SCHOTT AG, 3M, PPG Industries Inc., CMR Coatings GmbH, Nanovations Pty Ltd., Axalta Coating Systems, The Sherwin-Williams Company, Ferro Corporation, Premium Coatings And Chemicals Pvt Ltd., Euroglas GmbH, Warren Paint & Color Co., OPTICOTE INC, Covestro AG, Thermolon Korea, Praxair Technology Inc., NTC – Nano Tech Coatings GmbH, and Nanogate SE.
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Market Definition: Global Sol-Gel Coatings Market
Sol-gel coating is a process of creating solid products and materials using small and nano-molecules. This process involves the conversion of monomers to a colloidal solution. In essence, a solution is transformed and condensed for the formulation of a gel. The resulting gel is therefore applied on the various substrate surface and subsequently dried off for the formulation of a protective glossy coating.
- Technological advancements and modernisation in the product offered is expected to act as a driver for the market growth
- Growth in the demand of the product due to the introduction of water based coatings in the various industries is also expected to drive the market growth
- High cost and fluctuations in costing of raw materials is expected to act as a restraint to the market growth
- Stagnant growth or halt in growth of the various industrial segments of the world is also expected to act as a restraint to the market growth
Segmentation: Global Sol-Gel Coatings Market
- By Product Type
- Corrosion & Wear Resistant
- Water Resistant
- By End-Use
- Protective Coatings
- Semiconductors & Electronics
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In January 2018, PPG Industries Inc. announced that they had agreed to acquire ProCoatings, a leader of architectural and paints situated in Netherlands.
- In May 2017, Axalta Coating Systems announced that they had agreed to the acquisition of Spencer Coatings Limited. With the acquisition Axalta hopes to expand its industries served due to Spencer’s expertise in various coatings.
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Competitive Analysis: Global Sol-Gel Coatings Market
Global sol-gel coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of sol-gel coatings market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Research Methodology: Global Sol-Gel Coatings Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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