Market Size of Abrasion Resistant Coating Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Abrasion Resistant Coating Market Analysis
The market for abrasion resistant coating is expected to grow at a CAGR of around 5% globally during the forecast period. Major factors driving the market studied is the increased demand from power generation industry and enforcement of VOC emission regulations . However, capital-intensive operations for ceramic coatings and unfavorable conditions arising due to COVID-19 outbreak are hindering market growth.
- Increasing adoption of renewable sources of energy is likely to offer various opportunities for the growth of the market.
- By end-user industry, power generation segment is expected to dominate the market owing to increasing demand demand and popularity of high-temperature polymer-based coatings, which propel the growth for global abrasion resistant coating market in the power generation industry.
- Asia-Pacific region dominated the market across the globe with the largest consumption from countries such as China and India.
