May 21, 2019   SOURCE: BusinessWire

The World Market for Gelcoats, 2019 to 2024: Key Players are Ineos Enterprise (UK), Bufa Composite Systems (Germany) and HK Research Corporation (US) - ResearchAndMarkets.com

The "Gelcoat Market by Resin Type (Polyester, Vinyl Ester, Epoxy), End Use Industry (Marine, Transportation, Construction, Wind Energy), Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

Polyester resin is widely used for manufacturing gelcoat. The marine industry is the leading end user of gelcoat because of the increasing use of gelcoat in manufacturing ship parts. North America is the largest market for gelcoat, and APAC is the fastest-growing gelcoat market, which is projected to register a CAGR of 9.2%, in terms of value. The market in APAC is expected to be driven by the increasing demand from the wind energy and transportation industries.

Some of the drivers for the gelcoat market are the growing use of composites in various industries and increase in demand for gelcoat from the transportation industry. The cracking of gelcoat and shift toward closed molding process are the restraints for the market growth. The growing demand from the APAC region is one of the major opportunities for the manufacturers.

The gelcoat market is witnessing a significant growth because of the growing demand from various industries such as marine, transportation, and wind. It is projected to register a CAGR of 8%, in terms of value, between 2019 and 2024, to reach USD 1,703.9 million by 2024.

Some of the prominent players in the gelcoat market are Ineos Enterprise (UK), Bufa Composite Systems GmbH (Germany), and HK Research Corporation (US). The strategies undertaken by them include agreements and expansions. For example, in November 2018, Ineos entered into a definitive agreement with Ashland Inc. for taking over Ashland's Inc.'s composite business segment offering gelcoat. The agreement helped the company to consolidate its product portfolio.

Research Coverage

The market study covers the gelcoat market. It aims at estimating the market size and the growth potential of this market across different segments, such as resin, end-use industry, and region. Porter's Five Forces analysis and the key market dynamics, such as drivers, restraints, challenges, and opportunities, influencing the growth of the gelcoat market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the market.

Market Dynamics

Drivers

  • Growing Use of Composites in Various Industries
  • Useful Properties Offered by Gelcoat
  • Increase in Demand for Gelcoat in the Transportation Industry

Restraints

  • Uncertainty in PTC Affecting the Wind Energy Industry
  • Shift Toward Closed Molding Process Affecting the Use of Gelcoat
  • Cracking of Gelcoat

Opportunities

  • Emerging Wind Energy Industry
  • Growing Demand from the APAC Region

Challenges

  • Government Regulations

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Gelcoat Market

4.2 Gelcoat Market, By End-Use Industry

4.3 Gelcoat Market, By Resin

4.4 Gelcoat Market, By Country

5 Market Overview

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

5.5 Challenges

5.6 Porter's Five Forces Analysis

5.7 Value Chain Analysis

5.8 Price Analysis

5.9 Technology Development

5.10 New Technology and Impact Analysis

5.11 Growth Influencing Factors, By End-Use Industry

6 Macroeconomic Overview & Key Trends

6.1 Introduction

6.2 Trends and Forecast of GDP

6.3 Trends of the Automotive Industry

6.4 Trends and Forecast of the Construction Industry

7 Gelcoat Market, By Resin

7.1 Introduction

7.2 Polyester

7.3 Vinyl Ester

7.4 Epoxy

7.5 Others

8 Gelcoat Market, By End-Use Industry

8.1 Introduction

8.2 Marine

8.3 Transportation

8.4 Construction

8.5 Wind Energy

8.6 Others

9 Gelcoat Market, By Region

9.1 Introduction

9.2 North America

9.3 Europe

9.4 APAC

9.5 Latin America

9.6 MEA

10 Competitive Landscape

10.1 Overview

10.2 Recent Developments

10.3 Market Ranking of Top 5 Players in the Gelcoat Market

10.4 Competitive Benchmarking

11 Company Profiles

11.1 Ineos Enterprise

11.2 Bufa Composite Systems GmbH

11.3 HK Research Corporation

11.4 Allnex

11.5 Scott Bader Company

11.6 Poliya Composites Resins & Polymers

11.7 Interplastic Corporation

11.8 Alpha Owens-Corning (AOC) Aliancys

11.9 Polynt-Reichhold Group

11.10 Turkuaz Polyester

11.11 Other Companies

11.11.1 Sika Advanced Resins

11.11.2 Grm Systems S.R.O.

11.11.3 Satyen Polymers

11.11.4 Vikram Resins and Polymers

11.11.5 Mader Group

11.11.6 Resoltech

11.11.7 Zhejiang Leader Composite Co. Ltd.

11.11.8 Changzhou Huake Polymers Co. Ltd.

11.11.9 Eternal Synthetic Resins (Changsu) Co. Ltd.

11.11.10 Jiangsu Fullmark Chemicals Co. Ltd. (China)

For more information about this report visit https://www.researchandmarkets.com/r/5wsjz1