Composite coatings are manufactured using various resins, including polyurethane and epoxy. Composite coatings are protective layers applied to substrates such as steel, concrete, or any other substrate material. Different layers of composite coatings include adhesive treated substrate, primer, base coat, and top coat. It provides superior waterproofing and corrosion protection. Composite coating protects against heat, corrosion, fire, and harmful radiations. Composite coating protects against heat, corrosion, fire, and harmful radiations.
According to Stratistics MRC, the Global Composite Coatings Market is growing at a CAGR of 9.2% during the forecast period. Composite coatings are produced by joining two or more substances protecting against corrosion. Rapid expansion in automotive and aerospace industries is the key factor driving the global composite coatings market. Anti-corrosion properties of composite coatings are also anticipated to drive the coatings market. Various other industries which employ composite materials are automotive, manufacturing, oil & gas, and aerospace. Composite coating materials are spread on various substrates with the help of technologies such as Electro less plating, laser melt injection, and brazing.
The wind turbine composite demands the moderate use of carbon fibers, as these fibers offer high strength-to-weight ratio and greater durability to the structural parts of wind turbines, such as blades and nacelles. This offers lucrative opportunities for composites manufacturers to expand their production capacity and geographic reach. Several countries in the MEA and LATAM regions, such as Egypt, South Africa, and Morocco, as well as Mexico and Brazil, respectively, have started producing wind power.
North America is projected to hold the largest share in the market due to rising demand for aerospace, defense, oil & gas, and transportation applications. Rising demand for low VOC coatings owing to rising consumer awareness towards health and safety coupled with stringent regulations to limit adverse effects of the coatings on the environment is expected to compel manufacturers to invest in R&D and innovations to meet these criteria.
Some of the key players profiled in the Composite Coatings Market include A.W. Chesterton Company, Axalta Coating Systems, LLC, Composite Coating Inc., Electrochem, Interpalte Ltd., KC Jones Plating Company, NEI Corporation, Nickel Composite Coatings, Inc., OM Sangyo Co., Ltd., Poeton Industries Ltd., PPG Industries, Inc., Sharretts Plating Company, Surteckariya Co., Ltd., Walter Hunger GmbH & Co. Kg, and Verometal.
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