Lucintel: The Gelcoat Market is Expected to Reach $1.2 Billion by 2025

DALLAS, TX / ACCESSWIRE / February 11, 2021 / According to a new market report published by Lucintel, the future of the gelcoat market looks attractive with opportunities in the wind energy, marine, construction, tanks, and transportation industries. The gelcoat market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $1.2 billion by 2025 with a CAGR of 1% to 3% from 2020 to 2025. The major drivers for this market are growing use of composite materials in different industries and performance benefits of gelcoat, such as UV protection, better surface appearance, etc.

To download report brochure, please go to https://www.lucintel.com/gelcoat-market.aspx/ and click "report brochure" tab from the menu.

In this market polyester, vinyl ester, and epoxy gelcoats are mainly used in composites part fabrication. Lucintel forecasts that the polyester gelcoat will remain the largest segment due to low cost and usage in wide application area. Epoxy gelcoat is expected to witness the highest growth in the forecast period supported by the growth of wind energy industry.

Within the gelcoat market, construction will remain the largest end use industry. The wind energy industry is expected to witness the highest growth during the forecast period, supported by the increasing installation of wind turbines.

Asia Pacific will remain the largest region by value and volume. ROW is also expected to witness the highest growth over the forecast period due to the growth of end use industries.

Emerging trends, which have a direct impact on the dynamics of the industry, include a shift towards low styrene emission gelcoat and the development of gelcoat having compatibility with different resin system. Ashland, Polynt-Reichhold, Bufa, Scott Bader, and Allnex are among the major suppliers of gelcoat.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the gelcoat market by end use industry, resin chemistry, and region. Lucintel has prepared a comprehensive research report entitled "Growth Opportunities in the Gelcoat Market 2020-2025: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the gelcoat market by end use industry, resin chemistry, and region as follows:

By End Use Industry [Volume (Million Pounds) and $M shipment analysis for 2014 - 2025]:

• Wind
• Marine
• Construction
• Transportation
• Tanks
• Others

By Resin Chemistry [Volume (Million Pounds) and $M shipment analysis for 2014 - 2025]:

• Polyester
• Vinylester
• Epoxy
• Others

By Region [Volume (Million Pounds) and $M shipment analysis for 2014 - 2025]:

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • United Kingdom
  • Germany
• Asia Pacific
  • Japan
  • China
• The Rest of the World

This 152-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at [phone] or click on this link [e-mail].

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [e-mail]
Tel. [phone]
Cell: 303.775.0751

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SOURCE: Lucintel

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