Gel Coat Resin Market Trends and Forecast
The future of the global gel coat resin market looks promising with opportunities in the automotive, construction, electronic, and consumer good markets. The global gel coat resin market is expected to grow with a CAGR of 9.2% from 2024 to 2030. The major drivers for this market are increasing demand for gel coat resins in the marine industry due to their ability to provide aesthetic appeal and corrosion resistance, growing use of gel coat resins in construction and automotive sectors for surface finishing and protection, and rising preference for eco-friendly and low-VOC gel coat resins to meet environmental regulations worldwide.
• Lucintel forecasts that polyester resin is expected to witness higher growth over the forecast period.
• Within this market, automotive is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Gel Coat Resin Market
• United States – Ashland launched a bio-based gel coat resin, targeting 30% market share growth by 2023, supported by government grants for sustainable material innovation.
• Germany – Reichhold introduced a low-VOC gel coat resin for automotive applications, aiming to meet EU emissions standards and reduce environmental impact.
• China – DSM partnered with local manufacturers to produce high-performance gel coat resins for marine vessels, supported by government initiatives to enhance maritime infrastructure.
• Brazil – AOC Resins expanded production of gel coat resins for construction materials, aiming to capture 25% of the South American market with support from government subsidies for industrial growth.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Gel Coat Resin Market by Segment
The study includes a forecast for the global gel coat resin market by type, application, and region.
Gel Coat Resin Market by Type [Value from 2018 to 2030]:
• Polyester Resin
• Epoxy Resin
Gel Coat Resin Market by Application [Value from 2018 to 2030]:
• Automotive
• Construction
• Electronics
• Consumer Goods
• Others
Gel Coat Resin Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Gel Coat Resin Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies gel coat resin companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the gel coat resin companies profiled in this report include-
• BASF SE
• Dupont
• Axalta Coating System
• Chase Corporation
• Solvay
• Kisco
• Henkel
Recent Development in the Gel Coat Resin Market
• Scott Bader: Introduced a new gel coat resin formulation with enhanced weather resistance and UV stability, targeting the marine and leisure industries.
• Polynt-Reichhold: Developed a high-performance gel coat resin for wind turbine blades, aiming to improve durability and reduce maintenance costs in renewable energy applications.
• Nuplex Industries: Launched a bio-based gel coat resin made from renewable sources, aligning with sustainability goals and regulatory requirements for eco-friendly materials.
• Allnex: Rolled out a low-VOC gel coat resin solution for the automotive sector, focusing on improved scratch resistance and surface aesthetics while meeting stringent environmental standards.
Features of the Global Gel Coat Resin Market
Market Size Estimates: Gel coat resin market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Gel coat resin market size by type, application, and region in terms of value ($B).
Regional Analysis: Gel coat resin market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the gel coat resin market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the gel coat resin market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for gel coat resin market?
Answer: The global gel coat resin market is expected to grow with a CAGR of 9.2% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the gel coat resin market?
Answer: The major drivers for this market are increasing demand for gel coat resins in the marine industry due to their ability to provide aesthetic appeal and corrosion resistance, growing use of gel coat resins in construction and automotive sectors for surface finishing and protection, and rising preference for eco-friendly and low-VOC gel coat resins to meet environmental regulations worldwide.
Q3. What are the major segments for gel coat resin market?
Answer: The future of the gel coat resin market looks promising with opportunities in the automotive, construction, electronic, and consumer good markets.
Q4. Who are the key gel coat resin market companies?
Answer: Some of the key gel coat resin companies are as follows:
• BASF SE
• Dupont
• Axalta Coating System
• Chase Corporation
• Solvay
• Kisco
• Henkel
Q5. Which gel coat resin market segment will be the largest in future?
Answer: Lucintel forecasts that polyester resin is expected to witness higher growth over the forecast period.
Q6. In gel coat resin market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the gel coat resin market by type (polyester resin and epoxy resin), application (automotive, construction, electronics, consumer goods, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Gel Coat Resin Market Market, Gel Coat Resin Market Market Size, Gel Coat Resin Market Market Growth, Gel Coat Resin Market Market Analysis, Gel Coat Resin Market Market Report, Gel Coat Resin Market Market Share, Gel Coat Resin Market Market Trends, Gel Coat Resin Market Market Forecast, Gel Coat Resin Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.