Abrasion-Resistant Coatings Market Trends, Size, Latest Trends, Prominent Players, Growth Analysis and Forecast 2030

 

Market Forecast

The Global Abrasion-Resistant Coatings Market trends is expected to exhibit a CAGR of 6% during the forecast period and cross USD 11.8 Billion by 2025.




Abrasion-resistant coatings are extensively used to reduce wear and extend the operational life of the products. These coatings are used in applications where lubrication is not suitable. These coatings exhibit superior wear attributes, chemical resistance, and excellent hardness and toughness.

Pricing Analysis

The price for Abrasion-Resistant Coatings Market Trends is highly influenced by the raw materials required for manufacturing the coatings. The polymer coatings are subject of fluctuating cost on account of the petroleum-based raw materials used. This is due to the large supply–demand gap associated with petroleum products. Also, the ceramic coatings use elements found in nature, the mining and extraction of which influence the cost of these coatings.

Segmentation

By Type

  • This segment is divided into metal/ceramic and polymer. They     are classified based on polymeric resin or metal is used in the     manufacturing of coatings.
  • Ceramic coating is a thin layer of secondary skin, which is     applied on the surface to provide them an additive layer also known as a     sacrificial layer, which protects the surface from water, dirt, and UV     rays. The high cost of ceramic coatings due to capital-intensive     production setup as well as issues associated with the reliability and     consistency of thermal spray process are factors negatively affecting the     market growth. Nevertheless, these coatings require less maintenance.     Moreover, the extensive use of oxide metal coatings due to their low VOC     contents is a major factor driving the demand for ceramic/metal coatings.
  • Polymer-based coatings are made with polymers that provide     superior adherence and protection from corrosion. These coatings are     widely being used as a replacement of chrome and cadmium coatings, on     account of the increasing concern about heavy metals and environmental     factors. They can be used for scratch and abrasion resistance, elasticity     or brittleness. These coatings are an excellent choice due to their     thermal stability, chemical resistance, and non-absorption of water.

By End Use

  • The global Abrasion-Resistant     Coatings Market has been segmented based on end-use industry into oil     & gas, marine, power generation, transportation, mining, construction,     and others.
  • Abrasion-resistant coatings are used in the oil & gas     industry for coating components such as tubing, pipes, fasteners, pumps,     seals, and bearings. The increasing investment in oil & gas     exploration due to the high demand for petroleum products across various     end-use industries is driving the demand for abrasion-resistant coatings.     According to the International Energy Agency, the global investments in     the oil and gas industry recovered slightly in 2017, following sharp     declines of 24% and 26% in 2016 and 2015, respectively.

Continual abrasion by flotsam, jetsam, and marine debris causing deterioration of platform risers, pipes, footings, and pilings drive the demand for abrasion-resistant coatings in marine industry. Expanding trade across the globe to maintain economic stability is fueling the need for cargo transport across the globe, further fueling the demand for abrasion-resistant coatings.

  • The power generation segment accounted for the largest market     share in 2018 and is projected to witness high demand for these coatings     during the review period. The rising population and declining unemployment     rate coupled with the increasing use of various electronic devices and     consumer appliances is driving the demand for power across the globe. The     demand is also supported by the rapid industrialization in emerging     economies such as India, Thailand, South Korea, and Brazil, wherein the     demand for power is high.
  • Increasing production and sale of automobiles across the     globe has increased the demand for abrasion-resistant coatings. Ceramic     coatings are being preferred in the aerospace & defense industry,     owing to their properties such as corrosion protection and friction     reduction. The US Geological Survey stated in its Minerals Book 2015 that     the global aircraft fleet is expected to double over the next 20 years.
  • Components used in mining activities such as mixing vessels,     pumps, hoppers, housings, tanks, chutes, pipes, and centrifuges are often     exposed to aggressive slurries, sand aggregates, particulates, and large stones     that can damage and abrade even the hardest reinforced steel substrates.     This is projected to drive the demand for abrasion-resistant coatings     during the review period.
  • High investments in new construction and renovation     activities across the globe are expected to propel the demand for     abrasion-resistant coatings. Rapid industrialization and urbanization in     emerging economies across the globe are driving the demand for     abrasion-resistant coatings in construction industry.
  • Abrasion-resistant coatings are also used in the paper &     pulp, electronics & semiconductors, and petrochemical industries.

 

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By Region

  • North America: Market growth is driven by the presence of     large industrial base in the region. Expanding end-use industries,     especially oil & gas and power generation, is the key factor driving     the market growth.
  • Europe: A well-established market. Increasing demand for     abrasion-resistant coatings across major end-use industries is expected to     propel the market growth. The automotive industry in the region is the key     factor driving the demand for these coatings in the region.
  • Asia-Pacific: It is the fastest-growing regional market.     Increase in commercial and residential construction along with the high     investment in power generation is expected to drive demand for     abrasion-resistant coatings. Mining activities carried out in the region     is also a prime factor driving the global market growth.
  • Latin America: Fast-paced industrialization in countries such     as Brazil and Mexico is projected to drive market growth during the     assessment period.
  • Middle East & Africa: Presence of large oil and gas     reserves coupled with high exploration activities in the region, which     requires a large number of oil & gas refineries for processing and     treating oil, is positively influencing the abrasion-resistant coatings     demand.

 

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