Glass Flake Coatings Market Size, Share & Trends Analysis Report By Material (Epoxy, Vinyl Ester, Polyester), By End-use (Oil & Gas, Chemical, Industrial, Construction, Marine), By Region, And Segment Forecasts, 2023 - 2030

Glass Flake Coatings Market Size, Share & Trends Analysis Report By Material (Epoxy, Vinyl Ester, Polyester), By End-use (Oil & Gas, Chemical, Industrial, Construction, Marine), By Region, And Segment Forecasts, 2023 - 2030

Glass Flake Coatings Market Growth & Trends

The global glass flake coatings market size is expected to reach USD 2.44 billion by 2030, according to a new study by Grand View Research, Inc. The market is projected to grow at a CAGR of 4.45% from 2023 to 2030. Rapid industrialization in various industries is expected to fuel the demand for glass flake coatings. Glass flake coatings are widely used in the maritime, oil and gas, and chemical processing industries to protect their equipment including pipes, storage tanks, and structures against chemical exposure, corrosion, and wear.

Glass flake coatings are growing in demand as infrastructure construction expands around the globe. The construction industry develops new infrastructure projects such as roads, bridges, airports, and structures. The increase in projects is expected to promote market growth in the future years. Glass flake coatings are used to prevent corrosion and extend the lifespan of infrastructure assets.

Moreover, glass flake coatings are also commonly used in water and wastewater treatment plants. These coatings protect machinery from the corrosive effects of chemicals and wastewater, such as tanks, pipes, pumps, and concrete structures. The growth of water and wastewater treatment facilities to meet the increased demand for clean water is expected to propel the market. In addition, glass flake coatings are utilized in architectural projects such as office buildings, residential buildings, and public infrastructure.

The increase in demand for innovative and highly efficient coatings globally is expected to drive the demand for glass flake coatings, thus propelling the market growth. In addition, the increased requirement for enhancing the performance and longevity of equipment and devices, along with the expansion in the offshore oil and gas industry is expected to contribute to the growth of the market. However, the fluctuation in costs of raw materials, manufacturing methods, and specific application procedures is expected to limit the market growth.

Glass Flake Coatings Market Report Highlights

• Based on region, Asia Pacific dominated the overall market in terms of revenue of 38% in 2023. The rise in several end-use industries including chemical, marine, and construction is likely to create demand for glass flake coatings, further boosting the market growth.
• Based on material, the epoxy segment dominated the market in 2022 with the largest revenue share of over 44%. The market for epoxy-based glass flake coatings is expected to grow owing to the rise in offshore, marine, and chemical industries. Epoxy-based coatings with glass flake additives offer superior corrosion resistance attributes, making them essential in industries
• In terms of end-use, the marine industry segment dominated the market with over 31.0% in terms of revenue in 2022. The rise in the global shipping industry owing to the growth in trade among countries is expected to boost the marine industry, thus propelling the demand for glass flake coatings in the industry
• In September 2022, Jotun introduced MegaGloss Metallic, an ultimate high gloss metallic topcoat system. This launch will help the company in enhancing its position as a preferred coatings partner in the Superyacht segment. Jotun introduced this system to round up their MegaGloss line of products, which also includes MegaGloss HG and MegaGloss AC

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