Dublin, Feb. 21, 2019 (GLOBE NEWSWIRE) -- The "Gelcoat Market by Resin Type (Polyester, Vinyl Ester, Epoxy), End Use Industry (Marine, Transportation, Construction, Wind Energy), Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

It is projected to register a CAGR of 8.0%, in terms of value, between 2019 and 2024, to reach USD 1,703.9 million by 2024.

Gelcoats are used as an in-mold coating to provide an excellent finish on the visible surface of composite materials. Gelcoats are applied at a certain thickness of approximately 0.3-0.7 mm. They provide various properties such as high gloss, UV (ultraviolet) degradation, hydrolysis or osmosis, and resistance to corrosion, water, abrasion, and chemicals to the composite molds or parts.

Polyester resin is widely used for manufacturing gelcoat. The marine industry is the leading end user of gelcoat because of the increasing use of gelcoat in manufacturing ship parts. North America is the largest market for gelcoat, and APAC is the fastest-growing gelcoat market, which is projected to register a CAGR of 9.2%, in terms of value. The market in APAC is expected to be driven by the increasing demand from the wind energy and transportation industries.

Some of the drivers for the gelcoat market are the growing use of composites in various industries and increase in demand for gelcoat from the transportation industry. The cracking of gelcoat and shift toward closed molding process are the restraints for the market growth. The growing demand from the APAC region is one of the major opportunities for the manufacturers.

The gelcoat market is witnessing a significant growth because of the growing demand from various industries such as marine, transportation, and wind.

Some of the prominent players in the gelcoat market are Ineos Enterprise (UK), Bufa Composite Systems GmBh (Germany), and HK Research Corporation (US). For example, in November 2018, Ineos entered into a definitive agreement with Ashland Inc. for taking over Ashland's Inc.'s composite business segment offering gelcoat. The agreement helped the company to consolidate its product portfolio.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Gelcoat Market
4.2 Gelcoat Market, By End-Use Industry
4.3 Gelcoat Market, By Resin
4.4 Gelcoat Market, By Country

5 Market Overview
5.1 Introduction
5.2 Drivers
5.2.1 Growing Use of Composites in Various Industries
5.2.2 Useful Properties Offered By Gelcoat
5.2.3 Increase in Demand for Gelcoat in the Transportation Industry
5.3 Restraints
5.3.1 Uncertainty in Ptc Affecting the Wind Energy Industry
5.3.2 Shift Toward Closed Molding Process Affecting the Use of Gelcoat
5.3.3 Cracking of Gelcoat
5.4 Opportunities
5.4.1 Emerging Wind Energy Industry
5.4.2 Growing Demand From the APAC Region
5.5 Challenges
5.5.1 Government Regulations
5.6 Porter's Five Forces Analysis
5.7 Value Chain Analysis
5.8 Price Analysis
5.9 Technology Development
5.10 New Technology and Impact Analysis
5.11 Growth Influencing Factors, By End-Use Industry

6 Macroeconomic Overview and Key Trends
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Trends of the Automotive Industry
6.4 Trends and Forecast of the Construction Industry

7 Gelcoat Market, By Resin
7.1 Introduction
7.2 Polyester
7.2.1 Various Outstanding Properties of Polyester Make It the Most Widely Used Resin for Gelcoat
7.3 Vinyl Ester
7.3.1 Corrosion Resistance and Durability are the Prime Properties of Vinyl Ester Resin-Based Gelcoat
7.4 Epoxy
7.4.1 Gelcoat Based on Epoxy Resin has Various thermal and Mechanical Properties
7.5 Others

8 Gelcoat Market, By End-Use Industry
8.1 Introduction
8.2 Marine
8.2.1 Marine is the Major End-Use Industry of Gelcoat
8.3 Transportation
8.3.1 The Use of Fiber Reinforced Components is Contributing to the Growing Demand for Gelcoat in This Industry
8.4 Construction
8.4.1 Gelcoat is Used in the Construction Industry Mainly Due to Its Properties Such as Resistance to Corrosion, Water, Chemicals, and Uv Rays
8.5 Wind Energy
8.5.1 Gelcoat is Widely Used in Different Applications of the Wind Energy Industry
8.6 Others

9 Gelcoat Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Growing Composites Industry is Propelling the Us Gelcoat Market
9.2.2 Canada
9.2.2.1 Marine Industry is the Major Driver for the Gelcoat Market in Canada
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany is the Leading Consumer of Gelcoat in Europe
9.3.2 Italy
9.3.2.1 Growing Demand for High-Strength Gelcoat is A Governing Factor for the Market in Italy
9.3.3 France
9.3.3.1 Marine and Transportation Industries Generate A High Demand for Gelcoat in France
9.3.4 UK
9.3.4.1 Transportation Industry is One of the Major End-Users of Gelcoat in the UK
9.4 APAC
9.4.1 China
9.4.1.1 The Presence of Many Gelcoat Manufacturers in the Country Help in the Market Growth
9.4.2 India
9.4.2.1 Growing Focus on Wind Energy Industry is Propelling the Gelcoat Market in the Country
9.4.3 Japan
9.4.3.1 The Presence of Major Composites Manufacturers in the Country Contributes to the Market Growth
9.5 Latin America
9.5.1 Brazil
9.5.1.1 Growing Number of Wind Energy Installations is Driving the Market in Brazil
9.5.2 Mexico
9.5.2.1 Marine and Transportation Industries Generate A High Demand for Gelcoat in Mexico
9.6 MEA
9.6.1 UAE
9.6.1.1 UAE is A Growing Market for Gelcoat in the Region Due to the Country's Booming Construction Industry
9.6.2 Saudi Arabia
9.6.2.1 Major Demand for Gelcoat is Generated From the Construction Industry in Saudi Arabia

10 Competitive Landscape
10.1 Overview
10.2 Recent Developments
10.2.1 Expansion
10.2.2 Agreement & Partnership
10.2.3 New Product Launch
10.2.4 Merger & Acquisition
10.3 Market Ranking of Top 5 Players in the Gelcoat Market
10.4 Competitive Benchmarking
10.4.1 Tier 1 Companies
10.4.2 Competitive Benchmarking of Tier 1 Companies
10.4.3 Tier 2 and 3 Companies
10.4.4 Competitive Benchmarking Tier 2 and 3 Companies

11 Company Profiles
11.1 Ineos Enterprise
11.2 Bufa Composite Systems Gmbh
11.3 HK Research Corporation
11.4 Allnex
11.5 Scott Bader Company
11.6 Poliya Composites Resins and Polymers
11.7 Interplastic Corporation
11.8 Alpha Owens-Corning (AOC) Aliancys
11.9 Polynt-Reichhold Group
11.10 Turkuaz Polyester
11.11 Other Companies
11.11.1 Sika Advanced Resins
11.11.2 Grm Systems S.R.O.
11.11.3 Satyen Polymers
11.11.4 Vikram Resins and Polymers
11.11.5 Mader Group
11.11.6 Resoltech
11.11.7 Zhejiang Leader Composite Co., Ltd.
11.11.8 Changzhou Huake Polymers Co., Ltd.
11.11.9 Eternal Synthetic Resins (Changsu) Co., Ltd.
11.11.10 Jiangsu Fullmark Chemicals Co. Ltd China

For more information about this report visit https://www.researchandmarkets.com/research/w6jtrd/global_gelcoat?w=12

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