Glass Flake Coatings Market Assessment , Strategic Developments, and Forecast-2026
Glass Flake Coatings Market – Snapshot
Glass
flake coatings possess superior properties such as high tensile strength,
high temperature resistance, and excellent moisture resistance. These coatings
are commonly employed in critical and complex applications. Glass flake
coatings are primarily used in end-use industries such as shipbuilding, oil
& gas, power generation, and wastewater treatment. Rise in usage of glass
flake coatings in complex and critical applications in industries such as
marine, oil & gas, and power generation is propelling the global demand for
these coatings. Glass flake coatings possess excellent barrier properties. They
also provide reinforcement to substrates from mechanical, thermal, and chemical
abrasion. These coatings are also employed in thermal power stations,
pharmaceuticals, food and beverages, dyes, wastewater treatment plants, heavy
chemicals, and external and internal tanks used in the marine industry.
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Based
on resin type, the global glass flake coatings market has been segmented into
epoxy, polyester, and vinyl ester. Epoxy is a widely used type of glass flake
coatings. The epoxy segment is expected to dominate the global glass flake
coatings market during the forecast period due to the high temperature
resistance of epoxy glass flake coatings and their compatibility with different
substrates that are used in a wide range of end-use industries.
In
terms of substrate, the global glass flake coatings market has been bifurcated
into metal and concrete. The metal segment accounts for major share of the
market. Metal substrates are increasingly used in various end-use industries
such as petrochemicals, wastewater treatment, and marine. The usage of metal
substrates in shipbuilding, offshore & onshore platforms, pipelines, and
storage tanks has been rising. This, in turn, is boosting the demand for glass
flake coatings in the marine industry. Glass flake coatings minimize the impact
of abrasive & corrosive environments over steel substrates. This increases
the lifespan of metal substrates. On the other hand, concrete substrate is used
widely in the oil & gas industry.
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Based on end-user, the global glass flake coatings market has
been divided into oil & gas, marine, power generation, industrial, wastewater
treatment, and others (paper & pulp, infrastructure, and transportation).
Demand for glass flake coatings in the marine industry is rising at a rapid
pace, owing to their resistance to high temperature and water; and high tensile
strength. Expansion in the shipbuilding industry is also fueling the demand for
glass flake coatings. Demand for high-performance coating solutions has
increased significantly in shipbuilding projects. These coating solutions are
used to protect marine vessels and structures from erosion, fouling, abrasion,
saltwater, air, and UV degradation. End-user industries such as oil & gas,
power generation, and wastewater treatment are also projected to expand at a
rapid pace during the forecast period. Glass flake coatings offer excellent
physical and mechanical properties. Therefore, these coatings are suitable for
usage in high-end applications in oil & gas and power generation. Power
generation is estimated to be a rapidly growing segment of the glass flake
coatings market during the forecast period.
In
terms of region, the global glass flake coatings market has been classified
into North America, Europe, Asia Pacific, Middle East & Africa, and Latin
America. In terms of revenue, Asia Pacific dominated the global glass flake
coatings market in 2017. The region is likely to continue its dominance
throughout the forecast period. This can be ascribed to the expansion in the
shipbuilding industry in developing economies such as China, India, and
Singapore. Additionally, growth in the chemical industry is augmenting the
glass flake coatings market in Asia Pacific. It is anticipated to be a rapidly
expanding region of the market during the forecast period. North America also
holds key share of the global glass flake coatings market. The glass flake
coatings market in the region is expected to expand at a sluggish pace
vis-à-vis that in other regions. Europe constituted significant share of the
global glass flake coatings market in 2017. The market in the region is
projected to expand at a moderate pace during the forecast period. The glass
flake coatings market in Latin America and Middle East & Africa is
anticipated to expand at a rapid pace during the forecast period owing to the
expansion in the oil & gas industry in these regions.
High
degree of competition exists among players operating in the global glass flake
coatings market. The market is dominated by large players that are
technologically sound. These account for prominent share of the market. The
glass flake coatings market is capital and technology intensive. Glass flake
coatings are used in high-end applications; therefore, brand image plays a
vital role in the market.
Key
players operating in the global glass flake coatings market include Akzo Nobel
N.V., PPG Industries, Sherwin-Williams, Jotun, and Hempel A/S.
Diverse Properties of Glass Flake
Coatings Attract End-Use Industries, Market Likely to Gain Promising Demand
Opportunities
Glass
flake coatings are gaining traction across various end-use industries owing to
a wide range of properties they possess. High temperature resistance, excellent
moisture resistance, and high tensile strength are some of the key properties
of glass coating flakes. Owing to all these properties, the global glass flake
coatings market is experiencing promising demand avenues.
Generally,
glass flake coatings are used in complex and critical applications. Oil and
gas, shipbuilding, wastewater treatment, and power generation are some of the
key end-use industries of glass flake coatings. Thus, increased demand from all
these end-use industries is projected to generate promising sales opportunities
for vendors working in the global glass flake coatings market in the
forthcoming years.
Glass
flake coatings are known for their outstanding barrier properties. Apart from
this, they offer reinforcement to substrates from thermal, chemical, and
mechanical abrasion. As a result, these coatings are in highly preferred in the
pharmaceuticals, food and beverages, thermal power stations, dyes, heavy
chemicals, external and internal tanks used in the marine industry, and
wastewater treatment plants. These strong applications show that the global
glass flake coatings market will experience lucrative avenues in the years
ahead.
Owing
to the recent COVID-19 pandemic, many industrial sectors are experiencing slack
in their businesses. As a result, there is remarkable decline in the demand for
glass flake coatings from its various end-use industries from all across the
world. This scenario has directly impacted the revenues of companies engaged in
the global glass flake coatings market. Industry leaders are focused on making
key decisions to come out of this critical situation. Many enterprises are
continuing their production activities with skeleton staff while following all
safety guidelines by regional governments. As a result, glass flake coatings
market is likely to recover from this critical period and shortly gather
considerable revenues in the years ahead.
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