Study Predicts Growth in Gelcoat Market
PUNE, India - A new market study, Gelcoat Market by Resin Type (Polyester, Vinyl Ester, Epoxy, and Others), by End-Use Industry (Marine, Transportation, Construction, Wind, and Others) & by Region - Trends & Forecast to 2020, predicts the market for gelcoats to reach $1,233 million by 2020. The report defines and segments the gelcoats market with analysis and forecasting of the market size by volume and value.
Gelcoats offer various unique properties and features such as corrosion resistance, UV degradation and water absorption. The global gelcoats market is estimated to reach a market size of $1,233 million by 2020, registering a CAGR of 7.60 percent between 2015 and 2020. The gelcoats market is classified on the basis of resin type such as polyester, vinyl ester, epoxy and others. Polyester resin gelcoats are the most widely used gelcoats in the market. Increasing demand of composites in the transportation and marine industry is driving the market.
North America dominated the gelcoats market in 2014 and is closely followed by Europe. The United States is the biggest consumer of gelcoats across the globe. The recovery of the marine industry after the economic recession is accelerating the demand of gelcoats in the United States. As companies are building more fuel-efficient marine vehicles to meet the growing demand in the United States, the use of gelcoats is also increasing. The increasing demand for composites for saving weight and enhancing fuel efficiency of transportation systems such as railways, autos and leisure vehicles is also playing a role in the increased demand of gelcoats in the transportation industry.
For additional information about the report, visit http://www.marketsandmarkets.com/Market-Reports/gelcoat-market-164224381.html.
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