The global glass flake coatings market is anticipated to expand at a staggering CAGR over the assessment period (2018-2023), asserts Market Research Future (MRFR). Glass flakes are extensively used in end-user industries such as oil and gas, petrochemical and chemical, marine, construction industry, and others. The laminar arrangement in glass flakes in coating offers excellent barrier against weather conditions. Glass flakes can also be applied to concrete or steel base substrate.
Competitive Landscape:
Some of the prominent players operating in the global glass flake coatings market are Akzo Nobel N.V. (Netherlands), Nippon Sheet Glass Co., Ltd. (Japan), PPG Industries, Inc. (U.S.), Jotun (Norway), Hempel A/S (Denmark), CHEMIPROTECT ENGINEERS (India), The Sherwin-Williams Company (U.S.), KCC CORPORATION. (South Korea), Corrosioneering Group (UK), Winn & Coales (Denso) Limited (England), BASF SE (Germany), Clean Coats. (India), Berger Paints India Limited (India), Shalimar Paints Limited (India), and Samhwar Paints Industrial Co. Ltd (South Korea).
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Industry Updates:
August 8, 2018: The Subsea Industries reported that its Ecospeed coating system has been applied to the aluminum-hulled 750-passenger capacity Spaulding class ferry M/S Marin which is operated and owned by the Golden Gate Bridgem Highway and Transportation District.
Market Segments:
The global glass flake coatings market has been segmented on the basis of substrate type, resin type, application, application method, end-use industry, and region.
By mode of resin type, the market has been segmented into vinyl ester, epoxy, polyester, and others. The polyester segment is further sub-segmented into bisphenol and isophthalic polyester. Epoxy is sub-segmented into hybrid and pure epoxy. Hybrid epoxy is sub-segmented into polyamide cured epoxy and polyamine cured epoxy. Among these, the epoxy segment is anticipated to lead the market as they are one of the most versatile materials available in marine environment.
By mode of substrate type, the market has been segmented into concrete and steel. Among these, the steel segment is estimated to exhibit the highest growth rate owing to the growing use of glass flake coatings to coat steel which is used in constructing medium and large ships, storage tanks, onshore and offshore platforms, and pipelines.
By mode of application method, the market has been segmented into conventional spray, brush/roller, and airless spray.
By end-user industries, the market has been segmented into construction, oil and gas, chemical, marine, and others. The segment for oil and gas is further sub-segmented into onshore and offshore. Among these, the marine segment is expected to showcase the highest growth during the review period owing to the growth in global trading which has led the marine industry to invest in several shipbuilding projects.
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Geographical Insights:
The global glass flake coatings market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is expected to dominate the global glass flake coatings market during the forecast period. North America and Europe are followed Asia Pacific in terms of market size in 2017 and are expected to show steady demand during the forecast period. The Middle East & Africa and Latin America are likely to show rising demand for glass flakes coatings during the forecast period, 2018–2023.
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