Market Insights
The Composite Coatings Market was estimated to grow from USD 939.83 million in 2021 to USD 1613.65 billion by 2028 at a CAGR of over 7.95% during the forecast period.
Market Drivers
Growing demand for composite coatings for anti-corrosion and self-lubrication in the transportation industry and anti-corrosion and chemical resistance in the oil & gas industry are the major factors immensely contributing towards the growth of the composite coatings market.
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Composite Coatings Market - Snapshot
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Growth (2022-2028)
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CAGR of 7.95% for the next five years
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Major Application Type
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Anti-corrosion application
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Dominant End-Use Industry Type
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Transportation end-use industry
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Region with the highest demand
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North America
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Key Players
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Axalta Coating Systems, LLC, A.W. Chesterton Company, KC Jones Plating Company, PPG Industries, Inc., OM Sangyo Co., Ltd., Poeton Industries Ltd., Nickel Composite Coatings, Inc., Surteckariya Co., Ltd., Sharretts Plating Company, and Walter Hunger GmbH & Co. Kg.
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What is Composite Coatings?
Composite Coatings are mainly protective layers that are applied to concrete, steel, or any other substrate material. They are applied for the basic reason of protecting the substrate material from corrosion.
Composite Coatings are used with the technique of laser melt injection, brazing, electroless plating, and others. Transportation, aerospace & defense, industial, oil & gas, and others are the industries where the composite coatings are used.
Segment Analysis
Application Trends
The market is segmented as anti-corrosion, UV protection, thermal protection, and others. Composite coatings for the anti-corrosion application occupy a major chunk of the market owing to their remarkable properties, such as uniform coating thickness, precision, and consistency, and likewise. On account of these features, they are utilized in large volumes in industries such as industrial, transportation, and oil & gas.
End-Use Industry Trends
The market is segmented as transportation, aerospace and defense, industrial, oil & gas, and others. The transportation end-use industry has been estimated as the fastest-growing segment in the composite coatings market. Composite coatings offer numerous features comprising uniform coating thickness, accuracy, stiffness, and consistency in comparison to powder coatings, because of which they are utilized in various end-use industries.
Region Trends
In terms of regions, North America is estimated to be the fastest-growing market for composite coatings during the forecast period. The prime factors contributing to its growth are the increasing demand from the transportation and aerospace & defense industries. These advanced coatings are employed for the different equipment used in these industries as they offer uniform coating thickness, accuracy, stiffness, and consistency, leading to low-maintenance cost, which is essentially required. Asia-Pacific and Europe are also expected to offer substantial growth opportunities in the coming five years.
Segmentation
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
The market is segmented into the following categories.
by Technique Type:
- Laser Melt Injection (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Brazing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Electroless Plating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others
- (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- (Technique Type Analysis: Laser Cladding and Electrochemical)
by Application Type:
- Anti-Corrosion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- UV Protection (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Thermal Protection (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
by End-Use Industry Type:
- Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aerospace and Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Industrial
- (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- (End-Use Industry Type Analysis: Medical and Food Industry)
- Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others
- (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- (End-Use Industry Type Analysis: Marine and Wind)
by Region:
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Key Players
Some of the major players in the market are-
- Axalta Coating Systems, LLC
- A.W. Chesterton Company
- KC Jones Plating Company
- PPG Industries, Inc.
- OM Sangyo Co., Ltd.
- Poeton Industries Ltd.
- Nickel Composite Coatings, Inc.
- Surteckariya Co., Ltd.
- Sharretts Plating Company
- Walter Hunger GmbH & Co. Kg.
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conduct more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
The following are the key features of the report:
- Overview, industry life cycle analysis, supply chain analysis
- Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Trend and forecast analysis
- Segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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Composite Coatings Market Report - Features
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Market Segmentation
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4
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Regions Covered
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4
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Countries/Sub-Regions Covered
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15
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No. of Figures & Tables
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>150
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Company Profiles
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10
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Customization Options
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation of any one of the application types by end-use industry type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
