PUBLISHER: Market Research Future | PRODUCT CODE: 1656053
PUBLISHER: Market Research Future | PRODUCT CODE: 1656053
Over the course of the projection period, the Latin American gelcoat industry is anticipated to rise at a CAGR (growth rate) of roughly 5.98%.
Gelcoats' adaptability has caused them to be widely used in a variety of Latin American sectors, which has significantly increased market growth. Gelcoats' exceptional protective, aesthetically pleasing, and performance-enhancing qualities make them useful in a wide range of applications. Demand has increased throughout the region because of the growing use of gelcoats in items from industries like consumer goods, healthcare, and wind energy.
Another important factor propelling the gelcoat market in Latin America is the construction sector. The demand for sophisticated materials like composites has increased noticeably in countries like Brazil, Mexico, and Colombia due to the rapid pace of urbanization and infrastructure development. Because they provide a protective and aesthetically pleasing surface to composite materials used for exterior walls, roofs, and other structural uses, gelcoats are crucial in this industry.
Perspectives on Market Segments
Based on resin, the gelcoat market in Latin America has been divided into several segments, including polyester, vinyl ester, epoxy, and others.
The Latin American gelcoat market is divided into several segments based on end-use, including wind energy, construction, transportation, and marine.
Country Insights on Gelcoat
Brazil, Mexico, Columbia, Argentina, Chile, Peru, Bolivia, and the rest of Latin America are the countries into which the market is divided. In addition to having a sizable market share, the Brazilian market is anticipated to hold the biggest share over the course of the forecast year. Brazil, which has the biggest economy in Latin America, has a strong need for gelcoats because of its significant automotive and maritime industries. Gelcoats are essential for Brazilian boat building, automobile parts manufacturing, and construction applications because they offer long-lasting, high-gloss coatings that shield against environmental influences. The Brazilian gelcoat industry, which mainly serves the industrial, automotive, marine, and construction sectors, is an essential part of the nation's composite materials sector. Gelcoats are essential for Brazilian boat building, automobile parts manufacturing, and construction applications because they offer long-lasting, high-gloss coatings that shield against environmental influences. Gelcoats are widely utilized in the marine sector for yachts and boat hulls because of their aesthetic and protective properties.
AOC, Poliya, Polynt-Reichhold Group, Wacker Chemie AG, Ashland Inc., Scott Bader, Gurit, Sika AG, INEOS Group, and others are important players in the gelcoat market.