Abrasion Resistant Coatings Market - Forecast(2024 - 2030)

Report Code: CMR 0713 Report Format: PDF + Excel

Abrasion Resistant Coatings Market Overview

Abrasion Resistant Coatings Market size is forecast to reach $12.1 billion by 2025, after growing at a CAGR of 7.2% during 2020-2025. Abrasion Resistant Coatings is used to minimize or eradicate surface wear, most notably in application areas that are not suitable for lubricants due to which it is used in several end-use industries. Also, the global demand for abrasion resistant coatings is growing due to current coating systems that enable metals to withstand various harmful impacts including seizing, galling, and other physical damage. Besides, enhanced durability and protection, to help preserve and extend the service life of parts, eliminating the need for frequent maintenance and resulting in reduced raw material, labor, & energy costs properties the market for Abrasion Resistant Coating industry is expected to drive in the forecast period.

Abrasion Resistant Coatings Market Report Coverage 

The: “Abrasion Resistant Coatings Market Report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Abrasion Resistant Coatings Industry.

By Type: Ceramics/Metal Coatings and Polymer Coatings
By End Use: Oil and Gas Industry, Power Generation, Marine Industry, Construction Industry, Transportation Industry, Mining Industry, and Others
By Geography: North America, South America, Asia Pacific, Europe, and Middle East & Africa 

Key Takeaways
  • Europe dominates the Abrasion Resistant Coatings Market due to the increasing use of renewable energy resources for power generation and increasing use of ‘green’ technologies in this region.
  • The growing need for drilling equipment and pipeline coatings and the rising need for improved product performance in fragile environments are also expected to fuel the global demand for abrasion-resistant coatings.
  • The prevalent COVID-19 pandemic situation has led to weakened demand for construction, automotive, electronics, and paints and coatings. For the industry, the path to recovery of growth is heavily dependent on the duration of the restrictions imposed and their influence on global economic activity. Contrary to the trend prevalent in the industry in general, certain segments of the market such as abrasion resistant coatings are witnessing a declination in the oil & gas and mining industries.

Abrasion Resistant Coatings Market Segment Analysis - By Type

Ceramics/Metal coating is extensively used in Abrasion Resistant Coatings Market. Ceramic coating is used on the surface of metal or ceramic materials. Ceramics can be commonly used as a protective coating because they have relatively high hardness, corrosion resistance, and heat resistance. These coatings have excellent abrasion resistance and high temperatures. Ceramic based abrasion-resistant coating uses premium components to protect the machinery from friction caused in highly abrasive surfaces. Increased abrasion resistance is equal to less downtime, and hence better results in operation. Ceramic coatings are more expensive due to the costly thermal spray process involved, but due to less maintenance involving ceramic coatings, the overall life cycle cost will be lower compared to polymer-based coatings. Owing to the physical vapor deposited (PVD), ceramic/metal coating has relatively good oxidation, anti-corrosive, and anti-adhesive properties, hence it can be widely used in industrial applications which will lead towards the growth of the abrasion-resistant coatings market in the forecast period.

Abrasion Resistant Coatings Market Segment Analysis - By End Use
The power Generation industry held the largest share in the Abrasion Resistant Coatings Market in 2019 and is projected to grow at a CAGR of 8.1% during the forecast period 2020-2025. Abrasion resistance coatings are used in wind turbine blades, concrete cooling towers, valves, containment vessels, nuclear components, generators, dam structure, and turbines in the power generation sector. Throughout the power generation market, abrasion-resistant coatings are often used to protect against the adverse effects of weather conditions. Equipment for power generation today uses sophisticated, advanced technology machines that require significant investment of time, capital, and effort to optimize their performance. That's why surface coatings, weld overlays, and ancillary processes are cost-effective, practical alternatives to prevent and control corrosion, wear, fouling, and high-temperature oxidation of components in power generation equipment. In the wind industry, abrasion-resistant coatings based on fluoropolymers are also used in wind blades, which enhance the blades' operability by 20 years compared to traditional paints and gel coats. It improves UV stability, enables minimal dirt pick up, and offers excellent abrasion resistance and low reflectivity that will lead towards the growth of the market in the forecast period. 

Abrasion Resistant Coatings Market Segment Analysis - By Geography 
Europe held the largest share with 38.7% in Abrasion Resistant Coatings Market in 2019. The market for Abrasion Resistant Coatings in the European region is mainly driven by the ongoing developments in the generation of renewable energy. Germany, France, Russia, Italy, and the UK are considered to be the biggest market for abrasion resistant coatings in the European region. According to the Eurostat, in 2018, renewable energy represented 18.9 % of the energy consumed in the EU, on a path to the 2020 target of 20 %. Also, the single largest source of renewable electricity generation in Europe in 2018 was wind power which is projected to drive the market in this region. There are several potential benefits to the use of renewable energy, including the reduction in greenhouse gas emissions, the diversification of energy sources, and the decrease in reliance on fossil fuel markets (especially oil and gas). Growing renewable energy sources can also boost employment in the European region by creating new 'green' technologies to create jobs. Hence, leading power generation activities in this region will further drive the market in the forecast period.

Abrasion Resistant Coatings Market Drivers

Increasing demand for low-VOC, increasing need for environmental-friendly coatings

The global marine coatings industry is on the verge of stepping up demand for reduced fuel consumption in cargo and cruise ships. Increasingly stringent environmental regulations are boosting the prospects of high-value, eco-friendly, and abrasion-resistant coatings. The need to reduce fuel consumption is a strong market driver for abrasion resistant coatings that are applied to the hulls of ships which offers one way of fighting emissions and reducing fuel use. Manufacturers of marine coatings are typically conservative in introducing new technologies. Nevertheless, ever more stringent environmental regulation, parallel to consumer demand for more environmentally sustainable goods, is driving business innovation and will further boost the abrasion-resistant market during the forecast period.

Increasing demand for abrasion-resistant coatings in oil& gas applications

Worldwide oil and gas systems, from coastal to desert areas, are exposed to most harsh environmental elements. These complex plants and structures are affected by abrasion and chemical attacks from salts acid/alkali fumes, sand, oil, salt complexes, and refined products, as well as extreme variations in temperature from freezing to heat. The smooth, robust, flexible, and abrasion-resistant coating can protect the interior and exterior of the pipeline in the long term. Oil and gas that is extracted from beneath the surface by various types of equipment such as pumps, separators, shakers, and drills require abrasion resistant coatings. Since the combination of harsh and dangerous conditions and the relentless grinding caused by drilling and other operations, however, significantly decreases the lifetime of extraction equipment. Hence, increasing the use of abrasion resistant coating for oil & gas equipment will increase the lifetime of the equipment and lead towards the growth of the market in the forecast period.

Abrasion Resistant Coatings Market Challenges

Health Hazards from the metal coating

The metal coating is used during the production of coated glass. Metal coatings carry health and safety risks for the industrial workers who come in contact with them. When surface preparation or additional applications are required for a coating, workers are at risk of inhaling these harmful pollutants. Inhaling VOCs and HAPs can lead to health problems such as headaches, dizziness, nausea, and irritation of the eyes or skin. According to the Environmental Protection Agency, at a rate of millions of pounds per year, toxic air pollutants are released into the environment that is suspected of causing cancer and other severe health problems. Hence, the use of metal coating will create hurdles in the abrasion resistant coatings market during the forecast period.

Abrasion Resistant Coatings Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Abrasion Resistant Coatings Market.In2019, the market of Abrasion Resistant Coatings Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Abrasion Resistant Coatings Market are AkzoNobel N.V., Hempel A/S, Jotun A/S, The Sherwin-Williams Company, Saint-Gobain, Hardide Plc, Bodycote Group, PPG Industries, Arkema S.A., Evonik Industries among others.

Acquisitions/Technology Launches
  • In June 2018, AkzoNobel inked a two-year agreement with Nakilat, a Qatar Gas Transport Company to supply AkzoNobel's drug, Intersleek 1100SR. This is a fluoropolymer technology used as hull coating to prevent any fouling organism settle on the underwater hull. This also gives abrasion resistance.

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1. Abrasion Resistant Coatings Market - Market Overview
    1.1 Definitions and Scope
2. Abrasion Resistant Coatings Market - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Type
    2.3 Key Trends by End Use
    2.4 Key Trends by Geography
3. Abrasion Resistant Coatings Market - Landscape
    3.1 Comparative analysis
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Abrasion Resistant Coatings Market - Startup companies Scenario Premium Premium
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Abrasion Resistant Coatings Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. Abrasion Resistant Coatings Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Abrasion Resistant Coatings Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors 
8. Abrasion Resistant Coatings Market – By Type (Market Size -$Million)
    8.1 Ceramics/Metal Coatings
        8.1.1 Oxide Coatings
        8.1.2 Carbide Coatings
        8.1.3 Nitride Coatings
    8.2Polymer Coatings
        8.2.1 Epoxy
        8.2.2 Polyurethane
        8.2.3 Fluoropolymer
        8.2.4 Polyester
        8.2.5 Others
9. Abrasion Resistant Coatings Market - By End Use (Market Size -$Million)
    9.1 Oil & Gas Industry
        9.1.1 Down hole tools
        9.1.2 Fracking tools
        9.1.3 Staters and Impellers
        9.1.4 Rail Cars
    9.2 Power Generation
    9.3 Marine Industry
    9.4 Construction Industry
    9.5 Transportation Industry
    9.6 Mining Industry
    9.7 Others
10. Abrasion Resistant Coatings Market - By Geography (Market Size -$Million)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 South America
        10.2.1 Brazil
        10.2.2 Argentina
        10.2.3 Colombia
        10.2.4 Chile
        10.2.5 Rest of South America
    10.3 Europe
        10.3.1 U.K
        10.3.2 Germany
        10.3.3 Italy
        10.3.4 France
        10.3.5 Spain
        10.3.6 Netherlands
        10.3.7 Russia
        10.3.8 Belgium
        10.3.9 Rest of Europe
    10.4 Asia Pacific
        10.4.1 China
        10.4.2 India
        10.4.3 ANZ
        10.4.4 Japan
        10.4.5 South Korea
        10.4.6 Rest of Asia Pacific
    10.5 ROW
        10.5.1 Middle East
   Saudi Arabia
   Rest of Middle East
        10.5.2 Africa
   South Africa
   Rest of South Africa
11. Abrasion Resistant Coatings Market - Entropy
    11.1 New Product Launches
    11.2 M&A’s, Collaborations, JVs and Partnerships
12. Market Share Analysis Premium
    12.1 Market Share by Country- Top companies
    12.2 Market Share by Region- Top companies
    12.3 Market Share by type of Product / Product category- Top companies
    12.4 Market Share at global level- Top companies
    12.5 Best Practices for companies
13. Abrasion Resistant Coatings Market - List of Key Companies by Country Premium  
14. Abrasion Resistant Coatings Market - Company Analysis
    14.1 Market Share, Company Revenue, Products, M&A, Developments
    14.2 Company 1
    14.3 Company 2
    14.4 Company 3
    14.5 Company 4
    14.6 Company 5
    14.7 Company 6
    14.8 Company 7
    14.9 Company 8
    14.10 Company 9
    14.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"