Gelcoat Market Report 2024, Industry Trends, Growth, Size and Forecast Till 2032

IMARC Group’s report titled “Gelcoat Market Report by Resin Type (Polyester, Epoxy, Vinyl Ester, and Others), Application Method (Spray, Brush and Roller), End User Industry (Marine, Transportation, Construction, Wind Energy, and Others), and Region 2024-2032“.offers a comprehensive analysis of the industry, which comprises insights on the global gelcoat market trends. The global market size reached US$ 1.33 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.07 Billion by 2032, exhibiting a growth rate (CAGR) of 9.76% during 2024-2032.

Factors Affecting the Growth of the Gelcoat Industry:

  • Rising Demand for Composite Materials:

Composite materials, known for their strength, lightweight properties, and resistance to corrosion, are increasingly favored in various industrial applications. Additionally, gelcoat plays an essential role in these materials by providing a high-quality finish and an additional protective layer that enhances durability. Moreover, several industries such as aerospace, automotive, and sports equipment are turning to composites to reduce weight and increase the lifespan of their products. This shift is due to the growing emphasis on sustainability and efficiency, making composites and by extension, gel coats an essential component in modern manufacturing processes. As technology advances, the integration of gel coats with new composite materials continues to evolve, meeting the stringent requirements of an array of applications.

  • Growing Infrastructure Development:

The global increase in infrastructure development, particularly in emerging markets, has amplified the demand for durable and aesthetically pleasing materials. Gelcoat is extensively utilized in the construction of bridges, buildings, and recreational facilities, where it serves as a top coat providing protection and a visually appealing finish. Additionally, the expansion of urban areas and the rejuvenation of aging infrastructure require materials that improve longevity and support rapid construction processes. Gelcoat’s ease of application and robustness make it an ideal choice for large-scale projects, fueling its adoption in public and private sector developments worldwide. As infrastructure demands grow, the role of gelcoat in these projects becomes increasingly critical, supporting its market growth.

  • Technological Advancements:

The gelcoat industry has seen significant technological advancements that enhance the material’s performance and broadens its applications. Additionally, innovations in gelcoat formulations are primarily focused on improving ultraviolet (UV) resistance, chemical resistance, and ease of application. Moreover, enhanced UV resistance ensures that gelcoats maintain their color and structural integrity under prolonged sun exposure, making them ideal for outdoor applications such as marine crafts and vehicles. Besides this, improvements in chemical resistance allow gelcoats to withstand harsh chemicals and environments, crucial for industrial applications in sectors such as chemical processing and waste management. Furthermore, advancements in the ease of application have streamlined the manufacturing process, reducing labor costs and time. These innovations include the development of low-styrene gelcoats, which reduce emissions and are safer for workers, and new curing technologies that speed up the hardening process.

For an in-depth analysis, you can refer sample copy of the report:

Leading Companies Operating in the Global Gelcoat Market:

  • 3M Company
  • BÜFA GmbH & Co. KG
  • Fiberglass Coatings Inc.
  • Fibre Glass Development Corporation
  • GRP Factors Ltd.
  • INEOS Limited
  • Interplastic Corporation
  • Multi-Tech Products
  • Reichhold LLC 2 (Polynt Group S.À R.L.)
  • Scott Bader Company Limited
  • Soromap Peintures Vernis
  • Turkuaz Polyester

Gelcoat Market Report Segmentation:   

Breakup by Resin Type:

  • Polyester
  • Epoxy
  • Vinyl Ester
  • Others

Polyester represents the largest segment due to its cost-effectiveness, versatility, and widespread use in various applications.

Breakup by Application Method:

  • Spray
  • Brush and Roller

Brush and roller accounts for the largest market share, owing to its simplicity, ease of use, and suitability for a wide range of projects.

Breakup by End User Industry:

  • Marine
  • Transportation
  • Construction
  • Wind Energy
  • Others

Marine dominates market growth due to the extensive use of gelcoat in boat manufacturing and maintenance.

Regional Insights:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Asia Pacific’s dominance in the gelcoat market is attributed to growing industrialization, increasing construction activities, and growing demand for marine and transportation applications in countries such as China and India.

Global Gelcoat Market Trends:

At present, the growing emphasis on sustainability and environmental responsibility is increasing the demand for bio-based gelcoats derived from renewable sources. Manufacturers are focusing on developing formulations with reduced environmental impact, catering to eco-conscious consumers and industries. Additionally, the marine industry is a significant consumer of gelcoat, using it for surface protection and aesthetics in boat manufacturing and repair. As leisure boating and maritime transportation continue to expand globally, particularly in regions like Asia-Pacific and Europe, the demand for gelcoat in this sector is experiencing robust growth. There is also a growing preference for water-based gelcoats over solvent-based counterparts due to environmental regulations and concerns regarding volatile organic compound (VOC) emissions. Furthermore, manufacturers are investing in the development of water-based formulations that offer comparable performance while meeting regulatory requirements.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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