Gel-coat market is growing due to the high demand from construction, and transportation

The report "Gelcoat Market by Resin Type (Polyester, Vinyl Ester, Epoxy), End Use Industry (Marine, Transportation, Construction, Wind Energy), Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America)-Global Forecast to 2024”.

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Polyester is the largest resin used for gelcoat manufacturing in 2019.

Polyester resin is widely used for gelcoat. In terms of value and volume, the polyester resin-based gelcoat market accounted for a major share of the overall market in 2019. Polyester resins are less expensive and possess properties such as good corrosion resistance, fast curing, durability, tolerance to temperature, and low thermal expansion. Polyester resin used in gelcoats offers durability for molds and parts.

APAC is expected to be the largest market for gelcoat during the forecast period.

APAC is the largest gelcoat market, in terms of both value and volume. China, India, and Japan are the fast-growing economies that contribute to the growth of the market in the region. The booming wind energy industry and the transportation industry are bolstering the market for gelcoat in the region.

The major gelcoat manufacturers are Ineos Enterprise (UK), Bufa Composite Systems GmbH (Germany), HK Research Corporation (US), Allnex (Germany), Scott Bader Company (UK), Poliya Composites Resins and Polymers (Turkey), Interplastic Corporation (US), Alpha Owens Corning (AOC) Aliancys (US), Polynt-Reichhold Group (US) and Turkuaz Polyester (Turkey).

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Scott Bader Company is one of the prime manufacturers of gelcoat in the European region. The company possesses extensive product portfolio pertaining to gelcoats. It gives immense emphasis on the development of high-grade gelcoats for usage in various end-use industries. As a part of its growth strategy, the company is highly focused on expansions. For instance, in September 2018, the company expanded its presence in the Japanese market by opening a facility named Scott Badder Japan KK.

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