Glass Flake Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Glass Flake Coatings Market Analysis
The market for glass flake coating is expected to grow at a CAGR of less than 5% globally. Major factor driving the market studied is the significant growth in oil and gas industry and increasing need for improving lifespan of equipment's. On the flip side, volatility in pricing of coatings market and the unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.
- The oil and gas industry is expected to dominate the end-user segment of global glass flake coating market over the period as it offers high temperature resistance and high tensile strength, among other factors that has driven the adoption of these products.
- Asia Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the consumption from countries such as China, India and Japan.
Glass Flake Coatings Market Trends
This section covers the major market trends shaping the Glass Flake Coating Market according to our research experts:
Significant Growth in Oil and Gas Industry
- Significant growth of the oil and gas industry, which is the major application area of glass flake coatings is anticipated to boost the market growth. Glass flake epoxy is extensively applied in oil and gas offshore market particularly for high aggressive splash zones.
- Expanding offshore oil & gas industry on account of increasing energy demand is expected to surge strong demand for glass flake coatings in new pipeline and upcoming projects over the period.
- The versatility of glass flake epoxy technology allows it to be used not only for oil and gas offshore applications but for buried steel in the downstream applications such as, subsea pipelines and equipment, owing to its superior anti-corrosion properties and longer service lifespan.
- According to the current standards for selection of coating specifications which includes, reduced VOC and elimination of toxic components to comply with stringent environmental regulations, fewer coats to reduce application costs, enhanced performance to deliver longer life to first maintenance compared to conventional coating systems, are all factors that are boosting the demand for glass flake coatings.
Asia Pacific Region to dominate the Market
- Asia Pacific region is projected to be the fastest market for glass flake coating during the period. This growth is attributable to the increasing demand for these coatings from the end-user industries like oil and gas, marine, and shipbuilding in this region.
- The need for glass flake coatings in the marine industry is growing at a rapid pace in the region. These coating solutions are used to keep marine vessels and structures from erosion, fouling, abrasion, saltwater, air, and UV degradation owing to their resistance to high temperature and water and high tensile strength.
- Lower costs of production and ease of cheap labor in the region are other factors contributing to this high growth. China has been leading the glass flake coatings market not only in the Asia Pacific region but also globally owing to the rapid expansion of its chemical manufacturing industry and increasing shipbuilding activities.
- Countries such as India, Indonesia, and Australia are making significant developments in marine and chemical & petrochemical projects, which is further projected to propel the growth of these coatings market in the region.
- Due to the aforementioned factors, the demand for glass flake coatings is expected to increase in the region during the forecast period.
Glass Flake Coatings Industry Overview
The Global Glass Flake Coating Market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Akzo Nobel N.V., PPG Industries, Inc., Jotun A/S, The Sherwin-Williams Company and Hempel A/S and among others.
Glass Flake Coatings Market Leaders
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Akzo Nobel N.V.
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PPG Industries, Inc.
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Jotun A/S
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The Sherwin-Williams Company
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Hempel A/S
*Disclaimer: Major Players sorted in no particular order
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Glass Flake Coatings Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Significant Growth in Oil and Gas Industry
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4.1.2 Increasing Need for Improving Lifespan of Equipments
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4.2 Restraints
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4.2.1 Volatility in Pricing of Coatings Market
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4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Substrate
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5.1.1 Steel
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5.1.2 Concrete
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5.2 Resin
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5.2.1 Polyester
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5.2.2 Vinyl Ester
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5.2.3 Epoxy
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5.3 End-user Industry
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5.3.1 Marine
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5.3.2 Oil and Gas
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5.3.3 Chemical
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5.3.4 Industrial
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5.3.5 Construction
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5.3.6 Others
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5.4 Geography
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5.4.1 Asia-Pacific
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5.4.1.1 China
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5.4.1.2 India
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5.4.1.3 Japan
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5.4.1.4 South Korea
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5.4.1.5 Rest of Asia-Pacific
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5.4.2 North America
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5.4.2.1 United States
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5.4.2.2 Canada
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5.4.2.3 Mexico
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5.4.3 Europe
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5.4.3.1 Germany
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5.4.3.2 United Kingdom
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5.4.3.3 France
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5.4.3.4 Italy
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5.4.3.5 Rest of Europe
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle-East and Africa
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5.4.5.1 Saudi Arabia
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5.4.5.2 South Africa
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5.4.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share (%) /Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Akzo Nobel N.V.
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6.4.2 BASF SE
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6.4.3 Chugoku Marine Paints, Ltd.
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6.4.4 Hempel A/S
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6.4.5 Jotun A/S
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6.4.6 Kansai Paint
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6.4.7 KCC CORPORATION
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6.4.8 Nippon Paint Singapore
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6.4.9 PPG Industries, Inc.
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6.4.10 The Sherwin-Williams Company
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Glass Flake Coatings Industry Segmentation
The Glass Flake Coating Market report includes:
| Substrate | |
| Steel | |
| Concrete |
| Resin | |
| Polyester | |
| Vinyl Ester | |
| Epoxy |
| End-user Industry | |
| Marine | |
| Oil and Gas | |
| Chemical | |
| Industrial | |
| Construction | |
| Others |
| Geography | |||||||
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Glass Flake Coatings Market Research FAQs
What is the current Glass Flake Coating Market size?
The Glass Flake Coating Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)
Who are the key players in Glass Flake Coating Market?
Akzo Nobel N.V., PPG Industries, Inc., Jotun A/S, The Sherwin-Williams Company and Hempel A/S are the major companies operating in the Glass Flake Coating Market.
Which is the fastest growing region in Glass Flake Coating Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Glass Flake Coating Market?
In 2024, the Asia Pacific accounts for the largest market share in Glass Flake Coating Market.
What years does this Glass Flake Coating Market cover?
The report covers the Glass Flake Coating Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Glass Flake Coating Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Glass Flake Coatings Industry Report
Statistics for the 2024 Glass Flake Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Glass Flake Coatings analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
