Rapidexpansion in automotive and aerospace industries is the key factordriving the global composite coatings market. Anti-corrosionproperties of composite coatings are also anticipated to drive theglobal composite coatings market. Growth in population and rapidindustrialization are major factors boosting the composite coatingsmarket in emerging economies. Attractive growth opportunities offeredby the oil & gas industry is expected to propel the compositecoatings market in the near future. Technological innovations inprocesses such as piping system, and downhole tubing systems areanticipated to augment the composite coatings market. Compositecoatings are used in coating airframes in aircraft. They are alsoused to coat wind turbine blades. Increase in awareness aboutrenewable energy is estimated to augment the consumption of compositecoatings.
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Basedon application, the global composite coatings market can be segmentedinto transportation, oil & gas, building & construction,marine, and metal forming. In terms of technology, the compositecoatings market can be classified into laser melt injection,electroless plating, brazing and others. Others segment can besub-segmented as laser cladding and electrochemical. Compositecoatings contain resin and fiber. Commonly used resins include epoxy,polyester, polyamide, and cyanate ester. Fibers can be categorizedinto glass fiber, carbon fiber, and aramid fibers.
Theglobal composite coatings market expanded at significant pace in2016. This trend is anticipated to continue during the forecastperiod. In terms of geography, the composite coatings market can bedivided into Asia Pacific, North America, Europe, Middle East &Africa, and Latin America. Increase in population and rise in numberof transportation vehicles in China and India are propelling thecomposite coatings market in Asia Pacific. North America offersattractive growth opportunities to the composite coatings marketowing to the expansion in aerospace and defense sectors in theregion. Growth in the automotive industry coupled with technologicaladvancements is anticipated to fuel the composite coatings market inEurope. In Latin America, recent advancements in the aerospaceindustry and building & construction industry are anticipated todrive the composite coatings market in the near future. Rise inimmigration and rapid urbanization in Middle East & Africa areboosting the composite coatings market in the region.
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Highdegree of competition exists in the global composite coatings market.Key players operating in the market include PPG Industries Inc,Axalta Composite coatings are protective layers applied to substratessuch as steel, concrete, or metals. They provide excellent corrosionprotection and waterproofing. Composite coatings offer protectionagainst fire, heat, corrosion, and harmful radiations. Differentlayers of composite coatings include adhesive treated substrate,primer, base coat, and top coat. The construction industry is one ofthe common end-user industries of composite coatings. These coatingsare typically used to protect steel from corrosion in the building &construction industry. Composite coatings are used as intumescent andthermal barriers on concrete and other materials. Commonly usedcomposite coatings are light in weight; as a result, they helpimprove fuel efficiency. Besides construction, other industries thatemploy composite materials are manufacturing, automotive, aerospace,and oil & gas. Composite materials are coated on varioussubstrates with the help of technologies such as laser meltinjection, electroless plating, brazing and others. Compositecoatings have attractive properties such as uniform coatingthickness, accuracy, and consistency.