Market Insights
The composite coatings market was estimated at USD 1.01 billion in 2022 and is likely to grow at a CAGR of 8.07% during 2023-2028 to reach USD 1.6 billion in 2028.
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What are 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, industrial, oil & gas, and others are the industries where composite coatings are used.
Composite Coatings Market Report Highlights
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Market Size in 2022
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USD 1.01 billion
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Market Size in 2028
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USD 1.6 billion
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Market Growth (2023-2028)
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8.07% CAGR
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Base Year of Study
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2022
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Trend Period
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2017-2021
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Forecast Period
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2023-2028
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Market Dynamics
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 to the growth of the composite coatings market.
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Segment Analysis
By Application Type
The composite coatings market is segmented as anti-corrosion, UV protection, thermal protection, and others. Composite coatings for anti-corrosion applications 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.
By End-Use Industry Type
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.
Regional Insights
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 costs, which are essentially required. Asia-Pacific and Europe are also expected to offer substantial growth opportunities in the coming five years.
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Critical Questions Answered in the Report
- What are the key trends in the global market?
- How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
- What is the impact of COVID-19 on the global market?
- What are the key strategies adopted by the major vendors to lead in the market?
- What is the market share of the top vendors?
Market 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 composite coatings market is segmented into the following categories.
By Technique Type
- Laser Melt Injection
- Brazing
- Electroless Plating
- Others
By Application Type
- Anti-Corrosion
- UV Protection
- Thermal Protection
- Others
By End-Use Industry Type
- Transportation
- Aerospace and Defense
- Industrial
- Oil & Gas
- Others
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)
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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 a 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 books, press releases, journals, investor presentations, 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 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.
What Deliverables Will You Get in this Report?
Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth Analysis of the Composite Coatings Market
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How lucrative is the future?
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Market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market Segment Analysis and Forecast
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Which are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirements?
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10% free customization
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Report 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 to sales@stratviewresearch.com.