Lining Market - Forecast(2022 - 2027)

Report Code: CMR 20878 Report Format: PDF + Excel

Lining Market Overview

The lining market size is forecast to reach US$5.6 billion by 2027, after growing at a CAGR of 3.9% during 2022-2027. The lining is specialized coating solutions for marine, automotive, rail, oil & gas, and others using various products like polymer lining, ceramic lining, and others. The lining is widely applied for process vessels, piping in upstream and midstream oil and gas, ground storage tanks, buried tanks, vessels, auto components, equipment, and others and helps to protect against flame, chemical, abrasion, and impact attacks. According to the International Energy Sustainable development scenario, the global energy demand met by the oil & gas sector will be around 46% by 2040. Therefore, the growing oil & gas sector will boost the Lining market during the forecast period.

COVID-19 Impact

The Covid-19 pandemic has been a major challenge for the Lining market owing to directly affecting the manufacturer's supply chain across the globe and shutting down the production facilities to minimize the risk of virus spread. The major sectors such as automotive, building & construction, marine, chemicals, and others have been highly impacted. The coronavirus pandemic leads to low activity at key shipyards and financial stress on ship owners, resulting in declining sales of marine coatings. However, with steady growth in the sea stock market and increased activity in the maintenance of dry dock, the lining was able to regain momentum in the second half of 2020, supported by favorable raw material prices. According to National Marine Manufacturers Association, total retail unit sales of new powerboats decreased by 21% in February 2021 as compared to January 2021. However, sales remain elevated and are rising by 34% year on year as compared to February 2020. Thus, the lining market is also estimated to gradually increase during the forecast period.

Lining Market Report Coverage

The report: “Lining Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Lining industry.

By Product Type: Rubber, Polymer (Epoxy, Polyurethane, Acrylic, Alkyd, Fluoropolymer, Vinyl Ester & Flake-Filled Ester and others), Ceramic & Carbon Brick Line, Tile Lining and Others
By Technology: Solvent-borne, Waterborne, and Powder
By Application: Automotive & Transportation (Step Rails, Bumpers, Rocker Panels, Fender Flares, Trailers, and Others), Marine (Inland Marine, Cargo Tank, Water Ballast Tank, and Others), Building & Construction (Facade & Wall Panel, Doors & Windows, Flooring & Roofing, and Others), Industrial (Primary & Secondary Containment, Oil & Gas Equipment, Pipelines, Heavy Duty Machinery, and Others), Energy, Electric & Electronics, Fiber optics, Consumer goods, Chemical, Mining, Home & Personal Care, and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC), and Rest of the World: The Middle East(Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa)

Key Takeaways

  • The Asia Pacific is expected to register a CAGR of 4.6% during the forecast period (2022-2027). The increasing demand from end-use industries such as automotive, marine, chemical, and others in Asian countries such as China, India, Japan, and South Korea is driving the market demand for the lining.
  • The growing industrialization and trade across the globe are driving the linings market owing to the most cost-effective way of transporting heavy and bulk goods, oil, and others using Marine. 
  • The growing technological advancements and the shift towards solvent-borne to water-borne linings, owing to its excellent resistance to various chemicals will drive the lining market.

Figure: Asia Pacific Lining Market Revenue, 2021-2027 (US$ Billion)

Lining Market Revenue

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Lining Market Segment Analysis – By Product Type

The polymer segment accounted for around 38% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. Polymer offers a combination of excellent properties like water resistance, chemical resistance, and toughness, and is broadly used for wood and floor coatings, roofing, and sealant applications for various end-use industries like building & construction, consumer goods, energy, and others. According to Designing Construction UK, the volume of construction output is expected to increase by 2.3% a year globally by 2030 and the value of global construction output amounted from US$11.6 trillion in 2020 and is expected to reach US$14.8 trillion by 2030. Therefore, the use of polymer lining for construction activity will boost demand for lining during the forecast period.

Lining Market Segment Analysis - By Technology

The solvent-borne segment held the largest share in 2021 and is estimated to grow at a significant CAGR of 4.1% during the forecast period owing to the expanded capabilities of dual-cured adhesives. The solvent-borne lining is a highly specialized coating to fulfill the operational needs of cargo and storage industries. The solvent-borne lining is widely used in tanks storing oil, petrochemicals, biofuels, drinking water and raw sewage, turbine and others due to high resistance to ozone, sunlight, aging, chemical and permeation resistance across various end-use industries like marine, oil & gas, energy, chemical, and others. According to International Renewable Energy Agency, the global renewable energy capacity in 2019 was around 25,42,035 MW and 28,02,004 MW in 2020. Therefore, the growing renewable energy capacity will boost the demand for solvent-borne segments which in turn drive the lining market during the forecast period.

Lining Market Segment Analysis – By Application

The industrial sector accounted for approximately 18% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. The growing industrialization across the globe is driving the demand for the lining market. According to the world population review, the newly industrialized countries of 2021 are Brazil, China, India, Indonesia, Malaysia, Mexico, Philippines, South Africa, Thailand, and Turkey. This will eventually drive the need and demand for lining in the industrial sector as it is widely used for primary & secondary containment, oil & gas equipment, pipelines, heavy-duty machinery, and many more. Further, the chemical and marine industry is also driving the linings market owing to an increase in new production facilities and expansion of existing plants. Thus, increasing industrialization will help drive the linings market over the forecast period.

Lining Market Segment Analysis - By Geography

Asia Pacific region held the largest share in the Lining market in 2021 up to 42%, owing to the growing large Infrastructure projects, marine, consumer goods, energy, oil & gas, industrial sector, in developing countries like China, India, Indonesia, and others will boost the demand for linings during the forecast period. According to Invest India, the global electronic components market is expected to reach US$191.8 billion by 2022 driven by the Asia Pacific region to capture a dominant share. According to the India Brand Equity Foundation, the export of the auto components industry of India has increased at a CAGR of 7.6% during 2016-2020 and the value increased from US$10.83 billion in 2016 to US$14.5 billion in 2020. The Auto Component sector is expected to reach US$200 billion by 2026. Therefore, the growing auto components and electronic sectors are boosting the demand for the lining market during the forecast period.

Lining Market Drivers

The growing demand for Lining in the Marine sector

The growing demand for lining from the marine sector owing to the increase of the new build ships, maintenance of dry dock, inland marine, cargo tank, water ballast tank, and others are driving the lining market. Also, the growing trade is driving the lining market owing to the increase of cargo tanks. According to the Marine Products Export Development Authority (MPEDA), India exported 11,49,341 MT seafood worth US$ 5.96 billion during the last financial year 2020-2021 and marine products export is targeted to reach 13 billion by 2025. According to OECD, G20 merchandise exports and imports increased by 4.1% and 6.4% in the second quarter of 2021. Therefore, the growing trade via sea and new built and dry dock will be driving the lining market during the forecast period.

Increasing application in the automotive and Transportation

The automotive and transportation sector is one of the major sectors driving the lining market during the forecast period owing to its usage of overstep rails, bumpers, rocker panels, fender flares, trailers, and others and giving resistance towards heat, fire, corrosion, and abrasion. According to International Energy Agency, around 3 million new electric cars were registered in 2020 globally and Europe led with 1.4 million new registrations for the first time followed by China with 1.2 million registrations and the United States registered 295,000 new electric cars. Therefore, the increase in the new vehicle will increase the demand for lining during the forecast period.

Lining Market Challenges

The Volatile Price of Raw Materials and Environment concerns

The production of lining involves the releasing of various VOC (Volatile Organic Compounds) into the surroundings which will cause pollution such as air pollution, water pollution, etc. This has attracted various regulations from Government bodies across the globe. For instance, according to the wastewater discharge standards set by the Government of India, factories cannot release wastewater into the common water bodies and they should adhere to policies, which lays rules about the limit of wastewater that can be released in the receiving water body. Therefore, the stringent regulations by the government can hamper the market. Also, the volatile price of raw materials like epoxy, polyurethane, and others is likely to impact the market and in turn, increase the prices of finished goods.

Lining Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Lining market. Major players in the lining market include:

  1. The Jotun Group
  2. The Sherwin Williams Company
  3. Hempel A/S
  4. Akzo Nobel N.V.
  5. Polycorp Ltd.
  6. Teknos Group
  7. GBT-BÜCOLIT GmbH
  8. STEULER-KCH GmBH
  9. Ultimate Linings, Ltd.
  10. Sauereisen, Inc.
  11. Solvay SA
  12. PPG Industries, Inc.

Recent Developments

In July 2020, Jotun Group, one of the global leaders in paints and coatings, has launched Tankguard CV PRO, the only light-colored conductive tank lining for flammable liquid storage, which can be applied and cured down to 0°C.

Relevant Reports

Acid Resistant Lining Materials Market – Forecast (2022 - 2027)

Report Code: CMR 1424

Acid Proof Lining Market - Forecast (2022 – 2027)

Report Code: CMR 18638

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1. Lining Market- Market Overview
    1.1 Definitions and Scope 
2. Lining Market- Executive Summary
    2.1 Key Trends by Product Type
    2.2 Key Trends by Technology
    2.3 Key Trends by Application
    2.4 Key Trends by Geography
3. Lining Market– Comparative analysis 
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Lining Market - Startup Companies Scenario Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Lining Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Lining Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Lining Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Lining Market – By  Product Type (Market Size -US$ Million/Billion)
    8.1 Rubber
    8.2 Polymer
        8.2.1 Epoxy
        8.2.2 Polyurethane
        8.2.3 Acrylic
        8.2.4 Alkyd
        8.2.5 Fluoropolymer
        8.2.6 Vinyl Ester & Flake-Filled Ester
        8.2.7 Others
    8.3 Ceramic & Carbon Brick Line
    8.4 Tile Lining
    8.5 Others 
9. Lining Market – By Technology (Market Size -US$ Million/Billion)
    9.1 Solvent borne
    9.2 Waterborne
    9.3 Powder 
10. Lining Market – By Application (Market Size -US$ Million/Billion)
    10.1 Automotive & Transportation
        10.1.1 Step Rails
        10.1.2 Bumpers
        10.1.3 Rocker Panels
        10.1.4 Fender Flares
        10.1.5 Trailers
        10.1.6 Others
    10.2 Marine
        10.2.1 Inland Marine
        10.2.2 Cargo Tank
        10.2.3 Water Ballast Tank
        10.2.4 Others
    10.3 Building & Construction
        10.3.1 Facade & Wall Panel
        10.3.2 Doors & Windows
        10.3.3 Flooring & Roofing
        10.3.4 Others
    10.4 Industrial
        10.4.1 Primary & Secondary Containment
        10.4.2 Oil & Gas Equipment
        10.4.3 Pipelines
        10.4.4 Heavy Duty Machinery
        10.4.5 Others
    10.5 Energy
    10.6 Electric & Electronics
    10.7 Fiber optics
    10.8 Consumer goods 
    10.9 Mining
    10.10 Chemical
    10.11 Home & Personnel Care
    10.12 Others 
11. Lining Market - By Geography (Market Size -US$ Million/Billion)
    11.1 North America
        11.1.1 USA
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 UK
        11.2.2 Germany
        11.2.3 France
        11.2.4 Italy
        11.2.5 Netherlands
        11.2.6 Spain
        11.2.7 Russia
        11.2.8 Belgium
        11.2.9 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia and New Zealand
        11.3.6 Indonesia
        11.3.7 Taiwan
        11.3.8 Malaysia
        11.3.9 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Colombia
        11.4.4 Chile
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
            11.5.1.1 Saudi Arabia
            11.5.1.2 UAE
            11.5.1.3 Israel
            11.5.1.4 Rest of the Middle East
        11.5.2 Africa
            11.5.2.1 South Africa
            11.5.2.2 Nigeria
            11.5.2.3 Rest of Africa
12. Lining Market– Entropy
    12.1 New Product Launches
    12.2 M&As, Collaborations, JVs and Partnerships
13. Lining Market – Industry/Segment Competition Landscape  Premium
    13.1 Company Benchmarking – Major Companies
    13.2 Market Share at Global Level - Major companies
    13.3 Market Share by Key Region - Major companies
    13.4 Market Share by Key Country - Major companies
    13.5 Market Share by Key Application - Major companies
    13.6 Market Share by Key Product Type/Product category - Major companies
14. Lining Market – Key Company List by Country Premium  Premium
15. Lining Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
2.Global Lining Market Analysis and Forecast, By End Use Market 2019-2024 ($M)
3.Global Polymer Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
4.Global Polymer Lining Market Analysis and Forecast, By Chemistry Market 2019-2024 ($M)
5.Global Competition Landscape Market 2019-2024 ($M)
6.Global Lining Market Analysis and Forecast, By Product Type Market 2019-2024 (Volume/Units)
7.Global Lining Market Analysis and Forecast, By End Use Market 2019-2024 (Volume/Units)
8.Global Polymer Lining Market Analysis and Forecast, By Product Type Market 2019-2024 (Volume/Units)
9.Global Polymer Lining Market Analysis and Forecast, By Chemistry Market 2019-2024 (Volume/Units)
10.Global Competition Landscape Market 2019-2024 (Volume/Units)
11.North America Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
12.North America Lining Market Analysis and Forecast, By End Use Market 2019-2024 ($M)
13.North America Polymer Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
14.North America Polymer Lining Market Analysis and Forecast, By Chemistry Market 2019-2024 ($M)
15.North America Competition Landscape Market 2019-2024 ($M)
16.South America Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
17.South America Lining Market Analysis and Forecast, By End Use Market 2019-2024 ($M)
18.South America Polymer Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
19.South America Polymer Lining Market Analysis and Forecast, By Chemistry Market 2019-2024 ($M)
20.South America Competition Landscape Market 2019-2024 ($M)
21.Europe Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
22.Europe Lining Market Analysis and Forecast, By End Use Market 2019-2024 ($M)
23.Europe Polymer Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
24.Europe Polymer Lining Market Analysis and Forecast, By Chemistry Market 2019-2024 ($M)
25.Europe Competition Landscape Market 2019-2024 ($M)
26.APAC Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
27.APAC Lining Market Analysis and Forecast, By End Use Market 2019-2024 ($M)
28.APAC Polymer Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
29.APAC Polymer Lining Market Analysis and Forecast, By Chemistry Market 2019-2024 ($M)
30.APAC Competition Landscape Market 2019-2024 ($M)
31.MENA Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
32.MENA Lining Market Analysis and Forecast, By End Use Market 2019-2024 ($M)
33.MENA Polymer Lining Market Analysis and Forecast, By Product Type Market 2019-2024 ($M)
34.MENA Polymer Lining Market Analysis and Forecast, By Chemistry Market 2019-2024 ($M)
35.MENA Competition Landscape Market 2019-2024 ($M)

LIST OF FIGURES

1.US Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
2.Canada Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
3.Mexico Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
4.Brazil Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
5.Argentina Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
6.Peru Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
7.Colombia Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
8.Chile Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
9.Rest of South America Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
10.UK Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
11.Germany Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
12.France Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
13.Italy Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
14.Spain Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
15.Rest of Europe Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
16.China Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
17.India Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
18.Japan Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
19.South Korea Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
20.South Africa Lining Demand And Sales 2019 Market Revenue, 2019-2024 ($M)
21.North America Lining Demand And Sales 2019 By Application
22.South America Lining Demand And Sales 2019 By Application
23.Europe Lining Demand And Sales 2019 By Application
24.APAC Lining Demand And Sales 2019 By Application
25.MENA Lining Demand And Sales 2019 By Application