According to a recent research, Industry revenue for Abrasion Resistant Coating is expected to rise to $16.7 billion by 2030 from $10.6 billion of 2023. The revenue growth of industry players is estimated to average at 6.7% annually for period 2023 to 2030. Growing end-industry applications in major countries like U.S., Germany and UK, is driving the market demand high.
Research Study analyse the new revenue pockets, emerging markets, competition landscape, opportunities & niche insights for Type (Metal Coatings, Polymer Coatings), End-Use Industry (Construction, Oil & Gas, Automotive, Aerospace, Marine) and Technology (Thermal Spray, High Velocity Oxy-Fuel, Plasma Spray).
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North America and Asia-Pacific are the two most active and leading regions in the market. In the Asia Pacific region's growing industrial sectorโparticularly in countries like China and Indiaโcompanies such, as AkzoNobel and Jotun are prioritizing cost effective mass production to keep up with the increasing needs of the automotive and construction industries. They are leveraging the areas advancement and infrastructure improvements to meet rising demand effectively.
With challenges like high cost of advanced coatings, regulatory challenges and technical limitations, Abrasion Resistant Coating marketโs supply chain from raw material suppliers to end-user industry is expected to evolve & expand further; and industry players will make strategic advancement in emerging markets including Brazil, Malaysia and South Africa for revenue diversification and TAM expansion. The application of industrial automation processes have been made more accurate and effective with the implementation of abrasion resistant coatings & coating systems in the components & parts. This trend therefore reduces on waste and also improves the performance of the coating and this is where automation is playing a big role in the development of this market.
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The Abrasion Resistant Coating market is characterized by intense competition, with a number of leading players such as PPG Industries, AkzoNobel, BASF, Jotun, Sherwin-Williams, Hempel, Axalta, 3M, Dow Chemicals, Univar Solutions, IMCD and RPM International. These players are pushing & penetrating the market with their strategies.
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