Global Gelcoat Market Size Study, by Resin Type (Polyester, Vinyl Ester, Epoxy, and Others), by End-use Industry (Marine, Transportation, Wind Energy, Construction, and Others), and Regional Forecasts 2022-2032

Description

The Global Gelcoat Market, valued at approximately USD 1.40 billion in 2023, is projected to exhibit an impressive compound annual growth rate (CAGR) of 13.20% during the forecast period from 2024 to 2032, reaching an estimated value of USD 4.27 billion by 2032. Gelcoat, a crucial material in composite manufacturing, plays a pivotal role in enhancing the aesthetic and functional properties of various applications, including marine vessels, wind turbines, transportation vehicles, and construction materials. Its high durability, UV resistance, and weatherproofing capabilities make it indispensable across a range of industries.

The market is driven by the growing adoption of polyester, vinyl ester, and epoxy-based gelcoats, each catering to specific end-use requirements. Polyester gelcoats dominate the marine and construction segments due to their cost-effectiveness and robust performance in harsh environments. Vinyl ester gelcoats are gaining traction in wind energy and transportation industries, leveraging their superior chemical resistance and mechanical properties. Epoxy gelcoats, while niche, find extensive use in high-performance applications where strength and precision are paramount.

However, the gelcoat industry faces challenges such as stringent environmental regulations and the volatility of raw material prices, which could hinder market growth. Innovations in eco-friendly formulations and low-styrene-emission gelcoats are poised to address these issues, catering to the increasing demand for sustainable solutions. Additionally, advancements in application techniques, such as spray-based and brush-on systems, are enhancing the efficiency and precision of gelcoat usage, further broadening their adoption.

Regionally, North America leads the global gelcoat market, supported by its well-established marine and transportation sectors, coupled with increasing investments in renewable energy projects. Europe closely follows, driven by its commitment to sustainability and the widespread use of advanced composites in automotive and wind energy industries. The Asia-Pacific region is anticipated to witness the highest growth rate, fueled by rapid industrialization, infrastructural development, and expanding marine and wind energy sectors in countries like China, India, and South Korea. Emerging markets in Latin America and the Middle East & Africa are also showing potential, driven by improving economic conditions and a growing focus on renewable energy and construction activities.

Major market players included in this report are:

BASF SE
Huntsman Corporation
Scott Bader Company Ltd.
Ashland Global Holdings Inc.
AOC Resins
Polynt Composites
Reichhold LLC
Interplastic Corporation
Allnex Group
Resoltech
Bufa Composite Systems GmbH
Swancor Holding Co. Ltd.
Gurit Holding AG
Zoltek Companies, Inc.
Reichhold LLC

The detailed segments and sub-segments of the market are explained below:

By Resin Type:

Polyester
Vinyl Ester
Epoxy
Others

By End-use Industry:

Marine
Transportation
Wind Energy
Construction
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe (ROE)
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific (RoAPAC)
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa (RoMEA)

Years considered for the study are as follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Comprehensive geographical landscape with country-level analysis across major regions.
Competitive landscape featuring detailed profiles of major market players.
Analysis of business strategies and recommendations for market participants.
Comprehensive insights into demand-side and supply-side market dynamics.

Chapter 1. Global Gelcoat Market Executive Summary

1.1. Global Gelcoat Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Resin Type
- 1.3.2. By End-use Industry
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Gelcoat Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Gelcoat Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Demand in Marine Applications
- 3.1.2. Growth in Transportation and Wind Energy Sectors
- 3.1.3. Technological Innovations in Resin Formulations
3.2. Market Challenges
- 3.2.1. Stringent Environmental Regulations
- 3.2.2. Volatility of Raw Material Prices
3.3. Market Opportunities
- 3.3.1. Development of Eco-friendly and Low-emission Gelcoats
- 3.3.2. Expansion into Emerging Markets
- 3.3.3. Advancements in Application Techniques

Chapter 4. Global Gelcoat Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Gelcoat Market Size & Forecasts by Resin Type 2022-2032

5.1. Segment Dashboard
5.2. Global Gelcoat Market: Resin Type Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 5.2.1. Polyester
- 5.2.2. Vinyl Ester
- 5.2.3. Epoxy
- 5.2.4. Others

Chapter 6. Global Gelcoat Market Size & Forecasts by End-use Industry 2022-2032

6.1. Segment Dashboard
6.2. Global Gelcoat Market: End-use Industry Revenue Trend Analysis, 2022 & 2032 (USD Million)
- 6.2.1. Marine
- 6.2.2. Transportation
- 6.2.3. Wind Energy
- 6.2.4. Construction
- 6.2.5. Others

Chapter 7. Global Gelcoat Market Size & Forecasts by Region 2022-2032

7.1. North America Gelcoat Market
- 7.1.1. U.S. Gelcoat Market
  - 7.1.1.1. Resin Type Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. End-use Industry Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.3. End-use Industry Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada Gelcoat Market
7.2. Europe Gelcoat Market
- 7.2.1. UK Gelcoat Market
- 7.2.2. Germany Gelcoat Market
- 7.2.3. France Gelcoat Market
- 7.2.4. Spain Gelcoat Market
- 7.2.5. Italy Gelcoat Market
- 7.2.6. Rest of Europe Gelcoat Market
7.3. Asia-Pacific Gelcoat Market
- 7.3.1. China Gelcoat Market
- 7.3.2. India Gelcoat Market
- 7.3.3. Japan Gelcoat Market
- 7.3.4. Australia Gelcoat Market
- 7.3.5. South Korea Gelcoat Market
- 7.3.6. Rest of Asia Pacific Gelcoat Market
7.4. Latin America Gelcoat Market
- 7.4.1. Brazil Gelcoat Market
- 7.4.2. Mexico Gelcoat Market
- 7.4.3. Rest of Latin America Gelcoat Market
7.5. Middle East & Africa Gelcoat Market
- 7.5.1. Saudi Arabia Gelcoat Market
- 7.5.2. South Africa Gelcoat Market
- 7.5.3. Rest of Middle East & Africa Gelcoat Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. BASF SE
- 8.1.2. Huntsman Corporation
- 8.1.3. Scott Bader Company Ltd.
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. BASF SE
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Huntsman Corporation
- 8.3.3. Scott Bader Company Ltd.
- 8.3.4. Ashland Global Holdings Inc.
- 8.3.5. AOC Resins
- 8.3.6. Polynt Composites
- 8.3.7. Reichhold LLC
- 8.3.8. Interplastic Corporation
- 8.3.9. Allnex Group
- 8.3.10. Resoltech
- 8.3.11. Bufa Composite Systems GmbH
- 8.3.12. Swancor Holding Co. Ltd.
- 8.3.13. Gurit Holding AG
- 8.3.14. Zoltek Companies, Inc.
- 8.3.15. Reichhold LLC

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes