The market for abrasion resistant coatings market is expected to rise at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2034, from its estimated USD 11.57 billion in 2023 to USD 25.37 billion by 2034. Protecting surfaces against damage that may result from repeated exposure to abrasive materials or environments is the primary goal of abrasion-resistant coatings.
Abrasion-resistant coatings are specialized protective layers made to withstand wear, tear, and damage from mechanical forces, extending the lifespan and durability of various substrates. These coatings are particularly important in industrial settings where equipment and buildings are subjected to harsh circumstances like chemical exposure and friction.
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GROWTH DRIVERS
One of the primary drivers of growth is the industrial and construction sectors' international expansion. Heavy machinery and equipment that can endure harsh operating conditions are essential to the expansion of these sectors. Abrasive-resistant coatings are essential for protecting these assets from harm, extending their lifespan, and reducing maintenance costs.
The need for long-lasting coatings is rising as a result of the expansion of infrastructure construction projects worldwide. In order to guarantee the lifespan and durability of these structures, protective coatings that can withstand environmental stressors are becoming increasingly important as more public and private entities invest in infrastructure, which includes buildings, roads, bridges, and utilities.
MARKET SEGMENTATION:
By Type -
· Metal/Ceramic Coatings
o Oxide
o Carbide
o Nitride
· Polymer Coatings
o Epoxy
o Polyurethane
o Fluoropolymer
o Polyester
o Others
By End User -
· Oil & Gas
· Power Generation
· Marine
· Transportation
· Mining
· Construction
· Others
By Region -
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa
Key Players:
· Akzo Nobel NV
· Saint-Gobain
· Jotun A/S
· The Sherwin-Williams Company
· Hempel A/S
· Praxair Surface Technologies Inc.
· PPG Industries
· Evonik Industries
· Sika AG
· Arkema SA
· Hardide Plc
· Henkel
· Other Key & Niche Players
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