Composite Coatings Market Size, Share, Trends, Growth and Forecast 2032

Composite Coatings Market: Overview

The global Composite Coatings Market size was worth around USD 1463.4 Million in 2023 and is predicted to grow to around USD 2901 Million by 2032 with a compound annual growth rate (CAGR) of roughly 7.9% between 2024 and 2032.

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The report covers a forecast and an analysis of the composite coatings market on a global and regional level. The study provides historical data for 2017, 2018, and 2019 along with a forecast from 2023 to 2032 based on volume (Kilotons) and revenue (USD Million).

Composite Coatings Market: Overview

Composite coatings are applied to form a protective layer of corrosion on the metal surface along with making it waterproof. These coatings are made with epoxy and polyurethane resins and are ideal for various industries, such as aerospace and defense and oil and gas, among others. 

The composite coatings are basically applied to steel surfaces to form a protective coating layer for protection against corrosion, fire, and heat. These coatings generally act as a thermal barrier between the concrete and other materials. The recent increase in the usage of composite coatings witnessed in the construction industry globally is one of the major factors supporting this market growth. The durability and excellent water resistance properties of composite coatings are boosting its use in the construction industry. The construction industry is growing at a high rate Asia Pacific region. China and India are expected to witness significant growth by 2032.

There is a high demand for composite coatings in various industries, which has led to various technical developments by the key players. The automotive industry is also one of the major end-use segments of the composite coatings market and is likely to grow in the upcoming period. The global automotive production was more than 90.10 million units in 2015. This high production was due to the huge demand for automobiles in various industries. For instance, China manufactured more than 24 million automobile units in 2015. This data shows that the automotive industry is growing at a high rate and increased amount of composite coatings are used in automotive industries, due to anti-corrosion, and water-resistant characteristics. Development of automotive industry is indirectly supporting the growth of the composite coatings market. However, high processing costs might act as a restraining factor for the composite coatings market. Alternatively, the high demand for composite coatings for anti-corrosion and lubrication in transportation and infrastructure industries expected to provide lucrative opportunities for the key players of the composite coatings market.

The study includes drivers and restraints for the composite coatings market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the composite coatings market on a global level.

This report offers a comprehensive analysis of the global composite coatings market along with market trends, drivers, and restraints of the composite coatings market. This report includes a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary and primary research team of the industry experts.

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Global Composite Coatings Market: Segmentation

The study provides a decisive view of the composite coatings market by segmenting the market based on technique, application, end-use, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By technique, the market is segmented into laser melt injection, brazing, electroless plating, and others.

By application, the market is segmented into anti-corrosion, UV protection, thermal protection, and others.

By end-use, the market includes transportation, aerospace and defense, industrial, oil and gas, and others. The industrial segment is further sub-segmented into the medical and food industries. The industrial segment is further sub-segmented into medical and food industries. The automotive industry is likely to be the dominant segment in the forecast time period. Increase in the demand for automotive is also expected to drive the demand for composite coatings in the years to come.

Composite Coatings Market: Report Scope

Global Composite Coatings Market: Regional Analysis

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Each region has been further segmented into different countries—the U.S., the UK, France, Germany, China, India, Japan, and Brazil.

Based on regions, the market is segmented into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific contributed significantly toward composite coatings market share in terms of volume in 2024. This was due to the increase in the demand for automotive in the region. The North American composite coatings market is also likely to witness noteworthy growth during the forecast time period.

Global Composite Coatings Market: Competitive Players

The report covers detailed a competitive outlook including the market share and company profiles of the key participants operating in the global composite coatings market, such as -

• Sangyo Co.
• Poeton Industries Ltd.
• PPG Industries
• Axalta Coating Systems
• KC Jones Plating Company
• A.W. Chesterton Company
• Nickel Composite Coatings
• Endura Coatings
• Mader Group
• Twin City Plating
• Aztron Technologies
• Surteckariya Co.
• among others.

This report segments the global composite coatings market as follows:

Composite Coatings Market: Technique Segment Analysis

• Laser Melt Injection 
• Brazing 
• Electroless Plating 
• Others

Composite Coatings Market: Application Segment Analysis

• Anti-Corrosion 
• UV Protection 
• Thermal Protection 
• Others

Composite Coatings Market: End-Use Segment Analysis

• Transportation 
• Aerospace and Defense 
• Industrial 
  • Medical
  • Food Industry
• Oil & Gas 
• Others

Composite Coatings Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa