Sol-Gel Coatings Market Share | Size, Top Companies, Trends, Growth Factors and Forecast to 2027
Market Research Future (MRFR) reveals in its latest study that the global sol-gel coatings market share is poised to thrive at a robust CAGR of 11.22% during the forecast period 2018 to 2023. MRFR further reveals that the market is estimated to reach a value over USD 3853.5 Mn by 2023 up from USD 2,047.4 Mn in 2017.
The tremendous growth witnessed in the transportation sector has
boosted the demand for sol-gel coatings as it caters to the need for
multi-functional coatings. Furthermore, the adoption of sol-gel coatings for
protecting surfaces of aircraft from harsh environmental damage is projected to
fuel demand in the market across the projection period. Sol-gel coatings
alleviate the maintenance costs of aircrafts, which is likely to have a
positive impact on the market expansion.
The increasing penetration of electronics and gadgets is
expected to catapult the global Sol-Gel Market Share on an upward trajectory.
The touchscreen segment has captured 15% share of the electronics market, and
the trend is anticipated to continue in the foreseeable future. The increasing
demand for sol-gel coatings by the touchscreen industry is expected to
complement the sol-gel market proliferation across the review period.
A paradigm shift to bio-based products has opened up avenues for
product portfolio expansion and innovation in the sol-gel coatings industry.
Market operators are investing in research and development activities for
upgrading existing technologies and keeping themselves ahead of the curve. The
growth strategies implemented by the existing players are projected to aid
market growth over the review period.
The organic and inorganic precursors used in the manufacturing
of sol-gel coatings share are derived from downstream products of crude oil.
The price volatility of crude oil is one of the major restraints poised to hold
the Sol-Gel Coatings Market expansion throughout the projection period.
However, stable families of chemical precursors are being developed for making
sol-gel technology more pervasive across the assessment period.
Access Report @
https://www.marketresearchfuture.com/reports/sol-gel-coatings-market-6304
Global Market for Sol-Gel Coating-Segmental Analysis:
MRFR’s report offers a detailed segmental analysis of the market
based on application. By application, the sol-gel coatings market is segmented
into automotive glass, healthcare, construction, mobile device screens, marine,
solar panels, and others. Among these, the automotive glass segment is
projected to exhibit the steepest rise at 12.92% CAGR. The healthcare segment
currently accounts for the second largest share in the global sol-gel coating
market, and it is likely to continue its dominance over the assessment period.
Regional Outlook:
By region, the global sol-gel coating market share has been
segmented into Asia Pacific, Latin America, North America, Europe, and the
Middle East & Africa. North America presently holds the maximum share of
the global market. It is likely to retain its dominance over the next couple of
years. The growth in North America market is attributable to the strong value
maintained by end-user industries, such as transportation, electric and
electronics, and marine among others. The North America market was valued at
USD 675.2 Mn in 2017 and is estimated to register 11.08% CAGR during the
forecast period.
Europe accounts for the second largest share of the global
market. The trend is likely to continue through the assessment period. The
developed transportation and healthcare sectors in the region are expected to
accelerate the revenue creation for market participants. Germany and the U.K.
are the primary revenue generators in Europe sol-gel coating market.
Asia Pacific holds immense potential for market growth and is
one of the emerging sol-gel coatings markets globally. The market in Asia
Pacific is estimated to reach a valuation of USD 893.2 Mn by 2023 striking a
CAGR of 13.57%. The factors responsible for encouraging growth in the global
sol-gel coatings market are increased government expenditure on the development
of the electric and electronics sector, and, thriving transportation sector
among others. China accounts for the most substantial share in the Asia Pacific
market, trailed by Japan and India.
Global Market for Sol-Gel Coating-Competitive Dashboard:
Some of the key players profiled by MRFR in its report include
PPG Industries, Inc., Akzo Nobel N.V., 3M, Axalta Coatings, and the
Sherwin-Williams Company, Ferro Corporation, Premium Coatings and Chemicals Pvt
Ltd, Euroglas Gmbh, NanoTech Coatings, Warren Paints & Color Company,
OPTICOTE, INC, Henkel AG & Co., KGaA, Covestro AG, Arkema SA, CCM GmbH, and
Nano Care Deutschland AG.
Request For Sample Report Copy Here @
https://www.marketresearchfuture.com/sample_request/6304
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to
unravel the complexity of various industries through our Cooked Research Report
(CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.
MRFR team have supreme objective to provide the optimum quality
market research and intelligence services to our clients. Our market research
studies by products, services, technologies, applications, end users, and
market players for global, regional, and country level market segments, enable
our clients to see more, know more, and do more, which help to answer all their
most important questions.
In order to stay updated with technology and work process of the
industry, MRFR often plans & conducts meet with the industry experts and
industrial visits for its research analyst members.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Read More Related Article:
https://www.marketresearchfuture.com/reports/pet-coke-market-5349
https://www.marketresearchfuture.com/reports/potassium-citrate-market-6250
https://www.marketresearchfuture.com/reports/rubber-processing-chemicals-market-6318
https://www.marketresearchfuture.com/reports/foam-blowing-agents-market-5487
https://www.marketresearchfuture.com/reports/release-coatings-market-5374
Comments
Post a Comment