Report Predicts Abrasion-Resistant Coatings Market to Reach $8.46 Billion by 2021
DUBLIN – The abrasion-resistant coatings market size is estimated to reach $8.46 billion by 2021, growing at a CAGR of 6.3% between 2016 and 2021, according to a new report available from Research and Markets.
The metal/ceramic abrasion-resistant coatings segment is estimated to be the fastest growing type in the abrasion-resistant coatings market. The rising demands for abrasion-resistant coatings with excellent chemical and corrosion-resistant properties drive this segment. Ceramic coatings are inert to acid and alkali actions, making them very tough. Oxide ceramic coatings are electrically insulated and applied on substrates using thermal spray technique to protect from abrasion and corrosion.
In 2015, North America dominated the market for abrasion-resistant coatings due to the rapidly expanding marine and power generation industries. The Asia-Pacific region is projected to register the highest growth rate, both in terms of value and volume, owing to high demand from China and India. China is the second-largest market for abrasion-resistant coatings globally, with major demand coming from the oil and gas industry.
Growing innovation and development and rising demand in the industrial sector for novel and improved products are directly driving the rise in the use of abrasion-resistant coatings. Significant growth and innovation, along with industry consolidations, point to a bright future for the market.
For more information about the report, Abrasion Resistant Coatings Market - Global Trends & Forecasts to 2021, visit http://www.researchandmarkets.com/research/vwdh77/abrasion.