Glass flake coatings are advanced coatings with improved corrosion and abrasion resistance, and strong impermeability barrier resistance for chemicals and solvents. Glass flake coatings provide superior protection to steel and concrete substrates in the marine, oil & gas, chemical & petrochemical, power plants, and paper & pulp industries. The global glass flake coatings market size is estimated at USD 1.44 Billion in 2017 and is projected to reach USD 1.80 Billion by 2022, growing at a CAGR of 4.48%.
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The Asia Pacific region is expected to be the largest market for glass flake coatings mainly due to the rapidly-growing economies of China and India in the region. Manufacturers of glass flake coatings are targeting this region as the shipbuilding and chemical industries in the region are the largest. The China glass flake coating market has grown rapidly in recent years and is projected to witness high growth in the near future, due to a large number of established shipbuilding and chemical industries in the country. Countries such as India, Indonesia, and Australia are making significant developments in marine and chemical & petrochemical projects, which is anticipated to propel the growth of the glass flake coatings market in these countries.
This, along with the low cost of production and availability of cheap labor, has caused various chemical companies in the market to shift their production bases to the Asia Pacific region. Also, the global shipbuilding industry, a major end-user of epoxy-based glass flake coatings, is led by Asia Pacific—particularly by China, South Korea, and Japan due to the presence of the top five shipbuilding groups in the region.
The increase in global trading has forced the marine industry to invest in various shipbuilding projects. These projects have increased the demand for novel coating solutions for the protection of marine vessels and structures from corrosion, fouling, abrasion, salt water, air, and UV degradation. Glass flake coatings reduce the effects of the abrasive & corrosive environments steel substrates are mostly used in, thereby increasing their durability.
Key Target Audience:
Manufacturers of glass flake coatings
Raw material suppliers
End-users of glass flake coatings, such as the oil & gas, marine, and chemical & petrochemical industries
Traders, distributors, and suppliers of glass flake coatings
Regional manufacturer associations and various general coatings associations
Governments, investment banks, venture capitalists, and private equity firms
Key manufacturers of glass flake coatings include Akzo Nobel (Netherlands), PPG Industries (US), Jotun (Norway), Hempel (Denmark), Chugoku Marine (Japan), The Sherwin-Williams Company (US), KCC Corporation (South Korea), Nippon Paint (Japan), Kansai Paint (Japan), and RPM International (US).
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