- The composite coatings market is projected to register a CAGR of 7.7% during the forecast period
- The composite coatings market is projected to reach USD 1,306.8 million by 2022, at a CAGR of 7.7% from 2017 to 2022.
- The major drivers stimulating the composite coatings market are, increasing demand for composite coatings for anti-corrosion and self-lubrication in the transportation and anti-corrosion and chemical resistance in the oil & gas industry.
- The high production cost is a factor restraining the composite coatings market.
- Transportation is the fastest-growing segment in the composite coatings market
- Transportation is the fastest growing application market of composite coatings between 2017 and 2022, as the use of these advanced coatings provides greater rigidity and a self-lubrication in comparison to other coatings.
- Composite coatings offer corrosion resistance, operational & dimensional stability at high temperatures, and self-lubrication, thus leading to increasing usage in the transportation end-use industry.
- North America is the fastest-growing market for composite coatings
- North America is expected to be the fastest-growing market for composite coatings from 2017 to 2022. The major factors that are expected to contribute to this growth are the increasing demand for composite coatings from the transportation, aerospace & defense, and oil & gas end-use industries.
- Increasing demand for composite coatings for anti-corrosion and self-lubrication in the transportation and anti-corrosion and chemical resistance in the oil & gas industry are some of the factors driving the demand for composite coatings in the North American region.
The composite coatings market is projected to register a CAGR of 7.7% during the forecast period
The composite coatings market is projected to reach USD 1,306.8 million by 2022, at a CAGR of 7.7% from 2017 to 2022. The major drivers stimulating the composite coatings market are, increasing demand for composite coatings for anti-corrosion and self-lubrication in the transportation and anti-corrosion and chemical resistance in the oil & gas industry. The high production cost is a factor restraining the composite coatings market.
Transportation is the fastest-growing segment in the composite coatings market
Transportation is the fastest growing application market of composite coatings between 2017 and 2022, as the use of these advanced coatings provides greater rigidity and a self-lubrication in comparison to other coatings. Composite coatings offer corrosion resistance, operational & dimensional stability at high temperatures, and self-lubrication, thus leading to increasing usage in the transportation end-use industry.
North America is the fastest-growing market for composite coatings
North America is expected to be the fastest-growing market for composite coatings from 2017 to 2022. The major factors that are expected to contribute to this growth are the increasing demand for composite coatings from the transportation, aerospace & defense, and oil & gas end-use industries. Increasing demand for composite coatings for anti-corrosion and self-lubrication in the transportation and anti-corrosion and chemical resistance in the oil & gas industry are some of the factors driving the demand for composite coatings in the North American region.
Read more: Composite Coatings Market is projected to reach USD 1,306.8 million by 2022
