Abrasion Resistant Coatings Market Analysis | 2023-2028

Abrasion Resistant Coatings Market Analysis | 2023-2028

Abrasion Resistant Coatings Market Analysis | 2023-2028
Report code - SRAM339 Delivery - 2 Weeks
Abrasion Resistant Coatings Market Size, Share, Trends, Dynamics, Forecast, & Growth A See more...

Market Insights

The abrasion resistant coatings market was estimated at USD 9.1 billion in 2022 and is likely to grow at a CAGR of 6.2% during 2023-2028 to reach USD 13.09 billion in 2028.

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Market Dynamics

Introduction

Abrasion resistance coatings are the coatings applied over the equipment or product to prevent material loss from abrasion and wear. These coatings are widely used in various industries to reduce or eliminate abrasion and wear and extend the lifetime of products and equipment. Abrasion resistance coatings are also used to strengthen the mechanical properties of products such as hardness and toughness.

Market Drivers

The major factors driving the growth of the abrasion-resistant coatings market are:

  • The rapidly expanding industries such as power generation, oil & gas, and construction all over the world.
  • Increasing demand for high-temperature polymer-based coatings from the industrial sector.
  • Increasing demand for abrasion resistant coatings in the developing markets.
  • Increasing demand for better quality ceramic-based coatings.

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Key Players

Some of the major abrasion resistant coating manufacturers are:

  • Akzo Nobel N.V.
  • The Sherwin-Williams Company
  • Hempel A/S
  • Jotun Group
  • Sika AG
  • Axalta Coating Systems
  • Compagnie de Saint-Gobain S.A.
  • Praxair Surface Technologies, Inc.
  • PPG Industries, Inc.
  • Hardide Plc.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

Segmentations

List of Sub-Segments

Segments with High Growth Opportunity

Product Type Analysis

Metal/Ceramic Coatings, Polymer Coatings

The metal/ceramic coatings segment held the larger share of the market in 2022 and is expected to remain dominant during the forecast period.

End-Use Industry Type Analysis

Oil & Gas, Power Generation, Marine, Transportation, Mining, Construction, and Others

The power generation segment dominates the market.

Regional Analysis

North America, Europe, Asia-Pacific, and Rest of the World

Europe is estimated to be the largest market for abrasion resistant coatings during the forecast period.

By Product Type

Based on the product type, the abrasion resistant coatings market is segmented as metal/ceramic coatings and polymer coating. The metal/ceramic coatings segment held the larger share of the market in 2022 and is expected to remain dominant during the forecast period. Metal/ceramic coatings offer excellent high-temperature resistance and abrasion resistance properties which make them the most preferred choice of coatings. Oxide coatings, carbide coatings, and nitride coatings are the further classification of ceramic-based abrasion resistant coatings.

By End-Use Industry Type

Based on the end-use industry type, the market is segmented as oil & gas, power generation, marine, transportation, mining, construction, and others. The power generation segment dominates the market, owing to its wide application in wind turbine blades, concrete cooling towers, valves, containment vessels, nuclear components, generators, dam structure, and turbines. Abrasion resistant coatings are extensively used in the power generation sector, as they offer protection against the adverse effects of weather conditions.

Regional Insights

In terms of regions, Europe is estimated to be the largest market for abrasion resistant coatings during the forecast period, with Germany, France, the UK, and Russia being the major countries with lucrative growth opportunities. The growth of the region’s market is driven by the prospering oil & gas, marine, construction, and renewable power industries. The expanding shipbuilding industry in the region is also one of the core factors contributing to the increased demand for abrasion resistant coatings in this region.

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Research Methodology

  • This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects abrasion resistant 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 abrasion resistant coatings market is segmented into the following categories:

By Product Type

  • Metal/Ceramic Coatings
  • Polymer Coatings

By Form Type

  • Paste
  • Liquid
  • Sprayers

By End-Use Industry Type

  • Oil & Gas
  • Power Generation
  • Marine
  • Transportation
  • Mining
  • Construction
  • 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)

Abrasion-Resistant-Coatings-Market-Segmentation

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Report Customization Options

With this detailed report, 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 product 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.

Frequently Asked Questions (FAQs)

Abrasion resistance coatings are the coatings applied over the equipment or product to prevent material loss from abrasion and wear. These coatings are widely used in various industries to reduce or eliminate abrasion and wear and extend the lifetime of products and equipment. Abrasion resistance coatings are also used to strengthen the mechanical properties of products such as hardness and toughness.

The abrasion resistant coatings market was estimated at USD 9.1 billion in 2022.

The abrasion resistant coatings market is likely to reach USD 13.09 billion in 2028.

The abrasion resistant coatings market is likely to grow at a CAGR of 6.2% during 2023-2028.

The metal/ceramic coatings segment is expected to remain the dominant product in the market.

Akzo Nobel N.V., The Sherwin-Williams Company, Hempel A/S, Jotun Group, Sika AG, Axalta Coating Systems, Compagnie de Saint-Gobain S.A., Praxair Surface Technologies, Inc., PPG Industries, Inc., and Hardide Plc are among the top players in the market.

Europe is estimated to be the largest market for abrasion resistant coatings during the next five years.

Increasing demand for high-temperature polymer-based coatings from the industrial sector, along with increasing demand for abrasion-resistant coatings in the developing markets, and increasing demand for better quality ceramic-based coatings are the factors driving the growth of the market.

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