Composite Coatings Market Growth Analysis | 2023-2028

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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Market Dynamics

Introduction

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 techniques 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.

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 to the growth of the composite coatings market.

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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.

Note: The above list does not necessarily include all the top players in the 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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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects composite coatings market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• 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 conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and 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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

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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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.

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