The global Abrasion Resistant Coatings Market size of abrasion resistant coatings is projected to grow from $8.0 Billion in 2019 to $11.1 Billion by 2024, at a CAGR of 6.5% during the forecast period. The major driving factors for the market are stringent EU and US regulations regarding VOC emissions. The other significant drivers include the enhanced properties of abrasion resistant coatings such as fast curing time and high temperature resistance. The demand for abrasion resistant coatings is increasing from developing economies such as China, India, and Indonesia.
Government regulations regarding zero energy building codes and green roofing also provide an opportunity to the market to grow further, especially in the emerging Asia-Pacific and Latin American regions.
Increasing demand for marine coatings from the shipbuilding industry in emerging economies such as China, India, and Brazil, is expected to fuel the growth of the marine coatings market across the globe. The marine coatings market is also expected to grow because of the rising demand for reduced fuel consumption in cargo and cruise ships. The need to reduce fuel consumption is also expected to drive the market.
The Basalt Fiber Market is expected to grow from $227 million in 2019 to $397 million by 2024, at a CAGR of 11.8% during the forecast period.
The Medical Plastics Market growth is attributed to the aging population, increasing demand for existing and new medical technologies, and growing application globally. New product launches and agreements & joint ventures undertaken by the players operating in the market are expected to fuel market growth.
The demand for peracetic acid is increasing due to its rising penetration in major end-use industries, such as food & beverage (food processing & packaging and others), healthcare (hospitals & health care facilities, veterinary hospitals, pharmaceutical facilities, and others), water treatment (wastewater treatment and others), and pulp & paper (anti-slime, bleaching agent, and others) across the globe. This demand is expected to fuel the growth of peracetic acid market in the near future.
Coating resins bind the coating ingredients together and enable them stick to the surface to which they have been applied. They determine the coating’s performance and appearance characteristics, such as their water or scratch resistance, ability to protect against corrosion, and gloss or matt finish.
Green and bio polyols are polyols that are either synthesized from natural oils such as soya, castor, palm, canola, euphorbia, sunflower, and so on, or natural sources such as corn, sugar, or recycled polyurethanes, and PET.