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Abrasion Resistant Coatings Market to Grow at a CAGR of 6.3% from 2016-2021: M&M

Published on 2016-07-22. Author : SpecialChem

The global abrasion resistant coatings market size is estimated to grow from USD 6.24 Billion in 2016 to USD 8.46 Billion by 2021, at a CAGR of 6.3% during the forecast period.

The market is driven by increasing demand for abrasion resistant coatings in emerging markets and high demand from various applications such as oil & gas, industrial, marine, power generation, infrastructure, and transportation. Asia-Pacific is projected to witness strong growth in the future. Growth in this region can be attributed to high demand from emerging markets such as China and India.

Eco-friendly Abrasion Resistant Coatings to Drive the Market

Markets&Markets
MarketsandMarkets

The growing popularity of various types of abrasion resistant coatings such as metal/ceramic and polymer in various end-use applications plays a significant role in driving the market of abrasion resistant coatings. Oxide abrasion resistant coatings accounted for the maximum share, in terms of value, of the overall market due to their excellent wear resistant and insoluble properties. The rising demand for environmentally friendly abrasion resistant coatings such as volatile organic compounds (VOCs)-free coatings in countries such as Germany and France is expected to drive this market.

Oil & gas, the fastest-growing application segment for abrasion resistant coatings

In 2015, North-America dominated the abrasion resistant coatings market and also registered the highest growth rate between 2016 and 2021. The North-America region is projected to register significant growth rate, both in terms of value and volume, owing to high demand from the U.S. and Canada. The U.S. is the largest market for abrasion resistant coatings with major demand coming from the oil & gas industry.

The key companies profiled in the abrasion resistant coatings market research report are Akzonobel NV (Netherlands), Saint-Gobain (France), Jotun A/S (Norway), The Sherwin-Williams Company (U.S.), Hempel A/S (Denmark), Paraxair Surface Technologies Incorporation (U.S.), Sika AG (Switzerland), Hardide PLC (U.K.), The Bodycote Group (U.K.), and PPG industries (U.S.).

About MarketsandMarkets

MarketsandMarkets annually publishes premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM".

Source:
MarketsandMarkets
 


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