Gelcoat Market Size
| Study Period | 2019 - 2030 |
| Market Volume (2025) | 246.23 kilotons |
| Market Volume (2030) | 378.86 kilotons |
| CAGR (2025 - 2030) | 9.00% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Gelcoat Market Analysis
The Gelcoat Market size is estimated at 246.23 kilotons in 2025, and is expected to reach 378.86 kilotons by 2030, at a CAGR of greater than 9% during the forecast period (2025-2030).
The COVID-19 pandemic is expected to impact the Gelcoat Market in 2020 and 2021, driven by reduced economic and commercial activities. Declines in construction and industrial output will keep demand low, but recovery is anticipated with revived trade and government guidelines.
- Growing demand for gelcoat in the automotive and transportation industry is set to drive market growth. This sector dominated the gelcoat market due to automakers' efforts to produce lightweight vehicles with composites, aligning with government guidelines for improved fuel efficiency and reduced carbon dioxide (CO2) emissions. Gelcoats are key to enhancing the aesthetics of these composite components.
- Polyester Gelcoats are extensively used in various industries, particularly in the transportation and marine sectors. Their popularity in the marine industry is due to their excellent properties, including water resistance, UV protection, and corrosion resistance. This rising demand for polyester gelcoats contributes to market growth.
- Styrene, the predominant monomer in polyester resin-based gelcoats, has raised safety and health concerns due to its extensive use. This poses challenges for market expansion as many governments have implemented strict regulations to reduce styrene emissions from gelcoats and resins, consequently limiting market growth in the forecast period.
- Asia-Pacific dominated the Gelcoat Market across the globe with the largest consumption in a country such as India, China, etc.
Gelcoat Market Trends
Automotive and Transportation (including Aerospace and Marine) segment to lead the Market
- As per OICA, the Global Automotive Industry is currently growing at a substantial rate of 6% in 2022 over 2021. In 2022, various developed and developing countries across the world, including China, Germany, South Korea, Canada, the United Kingdom, and Italy, experienced an increase in automotive production. In 2022, over 85 Million Units of Motor vehicles were manufactured.
- The National Marine Manufacturers Association (NMMA) reports that the recreational boating industry in the U.S. generated an estimated US230.3 billion in sales in 2022.
- According to Invest India, during January 2021, a total of 161 projects in the marine industry, at a cost of US$12 billion, have been completed, and 178 projects at a cost of INR 1,96,578 Crores (US$ 26,595 million) are under implementation.
- As per IATA, it expects a year-over-year increase in total revenues of 9.7% to reach USD 803 Billion in 2023. This marks the first instance of industry revenues surpassing the USD 800 Billion threshold since 2019 when it reached USD 838 Billion. The growth in expenses is projected to be limited to an 8.1% annual rise.
- All these factors are likely to rapidly drive the market during the forecast period.
Asia-Pacific Region to Dominate the Gelcoat Market
- Asia-Pacific region dominated the global market share. The increasing investments and production in end-user industries, aerospace, automotive, marine, construction, etc, are driving the demand for Gelcoat Market in the region.
- A consortium involving Toshiba, Hitachi, Zosen Corp, and JFE Steel is set to construct the world's largest offshore wind farm off the Fukushima coast in Japan. This project, featuring as many as 143 floating turbines and expected to become operational after 2025, is likely to boost the demand for gelcoats.
- Moreover, the Indian Ministry of New and Renewable Energy (MNRE) has set targets for offshore wind installations, aiming for 30 GW by 2030. The use of an in-mold stable gelcoat is frequently required for the protective coating on blades, as well as wind and tidal turbine rotor blades
- According to Lloyd's Register, by 2030, China is poised to become a prominent maritime powerhouse in the shipping industry. To accomplish this, China plans to construct 40 cruise ships, with a portion intended for the domestic market and others for international markets, during this period.
- At the I2U2 Summit, the leaders disclosed that the UAE will allocate $2 billion for the establishment of a network of comprehensive food parks throughout India. Additionally, the group has confirmed its intention to move forward with a hybrid renewable energy project in India's Gujarat State. This initiative will encompass 300 megawatts (MW) of wind and solar capacity, enhanced by a battery energy storage system.
- As per Invest India, the construction industry in India is expected to reach USD 1.4 Trillion by 2025, and the construction industry in India works across 250 sub-sectors with linkages across sectors and over 54 global innovative construction technologies identified under a Technology Sub-Mission of PMAY-U to start a new era in Indian Construction Sectors.
- Furthermore, the rapidly growing construction industry, primarily in China, is a major factor driving the demand for gelcoat in the construction industry.
Gelcoat Industry Overview
The Gelcoat Market is fragmented in nature. The major players (not in any particular order) include Allnex GMBH, INEOS, Polynt S.p.A., Interplastic Corporation, and BÜFA Composite Systems GmbH & Co. KG, among others.
Gelcoat Market Leaders
-
INEOS
-
Interplastic Corporation
-
Allnex GMBH
-
Polynt S.p.A.
-
BÜFA Composite Systems GmbH & Co. KG
- *Disclaimer: Major Players sorted in no particular order
Gelcoat Market News
The recent developments pertaining to the major players in the market are being covered in the complete study.
Gelcoat Industry Segmentation
Gelcoat is a substance used to achieve a premium surface finish on fiber-reinforced composites. The prevalent gel coats are typically thermosetting polymers derived from unsaturated polyester or epoxy resin. These advanced resins are initially in liquid form when applied to molds. Gelcoat impart distinctive features like resistance to water absorption, corrosion, UV degradation, blistering, and cracking. It can be applied through spraying or brushing to ensure the desired thickness, thereby protecting the composite material from damage.
The Gelcoat Market is segmented by Resin Type, End-User Industry, and Geography. By Resin Type, the market is segmented into Polyester, Epoxy, Vinyl Ester, and Others. By End-User Industry, the market is segmented into Marine, Automation and Transportation, Construction, Wind Energy, Healthcare, Food and Beverage, Electrical and Electronics, and Others (Aerospace, Retail). The report also covers the market size and forecasts for the Gelcoat Market for 27 major countries across the major region. For each segment, the market sizing and forecasts have been done on the basis of volume (tons).
| Resin Type | Polyester | ||
| Epoxy | |||
| Vinyl Ester | |||
| Others | |||
| End-User Industry | Marine | ||
| Automotive and Transportation | |||
| Construction | |||
| Wind Energy | |||
| Healthcare | |||
| Food and Beverage | |||
| Electrical and Electronics | |||
| Others (Aerospace. Retail) | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Malaysia | |||
| Thailand | |||
| Indonesia | |||
| Vietnam | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| Italy | |||
| France | |||
| Spain | |||
| NORDIC | |||
| Turkey | |||
| Russia | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Colombia | |||
| Rest of South America | |||
| Middle East & Africa | Saudi Arabia | ||
| South Africa | |||
| Nigeria | |||
| Qatar | |||
| Egypt | |||
| UAE | |||
| Rest of Middle East & Africa | |||
Gelcoat Market Research FAQs
How big is the Gelcoat Market?
The Gelcoat Market size is expected to reach 246.23 kilotons in 2025 and grow at a CAGR of greater than 9% to reach 378.86 kilotons by 2030.
What is the current Gelcoat Market size?
In 2025, the Gelcoat Market size is expected to reach 246.23 kilotons.
Who are the key players in Gelcoat Market?
INEOS, Interplastic Corporation, Allnex GMBH, Polynt S.p.A. and BÜFA Composite Systems GmbH & Co. KG are the major companies operating in the Gelcoat Market.
Which is the fastest growing region in Gelcoat Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Gelcoat Market?
In 2025, the Asia Pacific accounts for the largest market share in Gelcoat Market.
What years does this Gelcoat Market cover, and what was the market size in 2024?
In 2024, the Gelcoat Market size was estimated at 224.07 kilotons. The report covers the Gelcoat Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Gelcoat Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
Gelcoat Industry Report
Statistics for the 2025 Gelcoat market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Gelcoat analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
