PUBLISHER: Grand View Research | PRODUCT CODE: 1376180
PUBLISHER: Grand View Research | PRODUCT CODE: 1376180
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.