Global Abrasion Resistant Coatings Market Projected to Reach USD 12.4 Billion by 2026

01-Dec-2020 | Facts and Factors

Findings from Facts and Factors report “Abrasion Resistant Coatings Market By Type (Metal/Ceramic Coatings and Polymer), By End-Use (Oil & Gas, Marine, Power Generation, Transportation, Mining, and Construction): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Abrasion Resistant Coatings Market in 2019 was approximately USD 8.2 billion. The market is expected to grow at a CAGR of 6.5% and is anticipated to reach around USD 12.4 billion by 2026.

Abrasion Resistant Coatings Market Size

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The Global Abrasion Resistant Coatings Market Is Powered By Enforcement of Volatile Organic CompoundEmission Regulations, Increasing Need For Environmental-Friendly Coatings, And Rising Demand For Abrasion-Resistant Coatings In Oil & Gas Applications. Abrasion resistant coatings are used for minimizing and eradicating surface wear. Such coatings are primarily used in areas of application that are not appropriate for lubricants. In radioactive environments and high-temperature environments and even where running times are high, greases and lubricants do not perform well. The key goal of abrasion resistant coatings is to prolong a product's shelf-life.

Current coating systems allow metals, including galling, seizing, and other physical damage, to withstand various harmful impacts. These metals are also protected from the normal wear and tear of everyday life, despite the possible problems in applications such as pipelines. For a wide range of surfaces, metal abrasion is therefore frequently used, where the use of lubricants or greases presents challenges. The use of ceramic-based and polymer-based coatings remains the most attractive to end-playersas it’s extend the shelf life of metals.

Browse the full “Abrasion Resistant Coatings Market By Type (Metal/Ceramic Coatings and Polymer), By End-Use (Oil & Gas, Marine, Power Generation, Transportation, Mining, and Construction): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026report at https://www.fnfresearch.com/abrasion-resistant-coatings-market

The world market for abrasion-resistant coatings is experiencing a growing demand for rust protection. The growing use of metals in high-temperature applications and the effectiveness of polymer-based coatings offer lucrative growth opportunities during the period 2020-2026. During the forecast period, the increasing developments in ceramic-based coatings will likely drive this growth. During the forecast period, their increasing use in industries such as automotive, power generation, oil & gas, and marine industries would boost further market development. In 2018, the global demand for electricity grew by 4 percent, according to the International Energy Agency. In addition, coal remains the leading source of electricity generation despite environmental concerns and witnessed a 2.6 percent rise in production in the same year. So, considering the tough economic period before during the forecast period, the power sector promises remarkable growth for the abrasion resistant coatings industry.

The global market has been segmented into type and end-use. The type of the market has been categorized into polymer and metal/ceramic coatings. Ceramic coatings are used on metal or ceramic surfaces. As they have relatively corrosion resistance, high hardness, and heat resistance, ceramics can be widely used as a protective coating. The abrasion-resistant coating based on ceramic uses premium components to shield the machinery from friction on highly abrasive surfaces. Increased resistance to abrasion is equivalent to less downtime and therefore improved operating performance.

Ceramic coatings are more expensive owing to the costly process involved in it but the total life cycle cost would be lower compared to polymer-based coatings as it needs less maintenance involving ceramic coatings. Ceramic and metal coating has relatively anti-corrosive, strong oxidation, and anti-adhesive properties due to the physical vapor deposited (PVD), so it can be widely used in industrial applications, contributing to the growth in the forecast period of the abrasion-resistant coatings industry.

In terms of geography, North America has accounted for the major market share in the global abrasion resistant coatings markets as the region has witnesses constantly growing marine industries and the power generation sector. Rising demand for improved products, along with rapid industrialization is supporting the abrasion resistant coatings market in the region. The global growth of the industry is driven by regulatory policies that are prevalent in North America and Europe, driving growth in the United States, Canada, Mexico, Germany, the United Kingdom, and France. Over the coming years, Asia Pacific is projected to be the fastest-growing region, mainly due to the growth of the region's end-use industries.

Report Scope

Report Attribute

Details

Market Size in 2019

USD 8.2 Billion

Projected Market Size in 2026

USD 12.4 Billion

CAGR Growth Rate

6.5% CAGR

Base Year

2019

Forecast Years

2020-2026

Key Market Players

AkzoNobel N.V., Arkema S.A., Hempel A/S, Henkel, Jotun A/S, Hardide Plc, The Sherwin-Williams Company, PPG Industries, Bodycote Group, Evonik Industries, Sika AG, Praxair Surface Technologies Inc., and Saint-Gobain, and Others

Key Segment

By Type, End-Use, Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Some of the leading and top companies in the abrasion resistant coatings market include

AkzoNobel N.V., Arkema S.A., Hempel A/S, Henkel, Jotun A/S, Hardide Plc, The Sherwin-Williams Company, PPG Industries, Bodycote Group, Evonik Industries, Sika AG, Praxair Surface Technologies Inc., and Saint-Gobain among others.

The taxonomy of the abrasion resistant coatings market by its scope and segmentation is as follows:

By Type Segmentation Analysis

  • Metal/Ceramic Coatings
  • Polymer

By End-Use Segmentation Analysis

  • Oil & gas
  • Marine
  • Power Generation
  • Transportation
  • Mining
  • Construction

By Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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