According to a new report, published by KBV research, The Global Glass Flake Coatings Market size is expected to reach $2.1 billion by 2030, rising at a market growth of 4.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 5110.42 hundred Tonnes, experiencing a growth of 3.5% (2019-2022).
Integrating smart technologies into coatings, often called “smart coatings,” has been a trend in recent years. This involves incorporating self-monitoring, self-repair, or responsive coatings that adapt to environmental conditions. While this trend was more widespread in certain high-tech industries, it could influence the development of advanced glass flake coatings with smart capabilities. According to the International Trade Administration, the Abu Dhabi Department of Economic Development (ADDED) announced a new Smart Manufacturing initiative in October 2021 to diversify the emirate’s economy and attract foreign companies.
The Epoxy segment is leading the Global Glass Flake Coatings Market by Material in 2022 thereby, achieving a market value of $986.3 Million by 2030. Epoxy-based glass flake coatings adhere well to various surfaces, forming a strong and durable bond. This property enhances the overall performance and longevity of the coating. Epoxy formulations offer versatility in terms of application methods. They are easily applied and adaptable to various surfaces, forms, and structures when used as liquid coatings.
The Oil & Gas segment is poised to have a CAGR of 3.9% during (2023 - 2030). Glass flake coatings offer high resistance to various chemicals commonly encountered in the oil & gas segment, including acids, alkalis, and hydrocarbons. This chemical resistance is crucial for protecting infrastructure such as pipelines, storage tanks, and processing equipment from the corrosive impact of the substances they handle. Subsea infrastructure, including pipelines and equipment, is exposed to challenging conditions such as high pressures, low temperatures, and corrosive seawater.
Full Report: https://www.kbvresearch.com/glass-flake-coatings-market/
The Asia Pacific region dominated the Global Glass Flake Coatings Market by Region in 2022 thereby, achieving a market value of $861.2 Million by 2030. The Europe market is registering a CAGR of 3.7% during (2023 - 2030). Additionally, The North America market would showcase a CAGR of 3.9% during (2023 - 2030).
By Material (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By End Use (Volume, Hundred Tonnes, USD Billion, 2019-2030)
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