Polyester-based Gelcoats Market Size (2024 – 2030)

The Global Polyester-based Gelcoats Market was valued at USD 789 million in 2023 and is projected to reach a market size of USD 1879.33 million by 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 13.2%.

A coloured resin called polyester gelcoat is poured into moulds to create composite pieces. It offers a superior glossy surface that is scratch-resistant and shields the underlying material from corrosion, weather, chemicals, and UV radiation. It is reasonably priced and provides an attractive appearance in a multitude of colours. Application methods include rolling, brushing, and spraying. However, disadvantages include a strong smell that must be well-ventilated, a tendency to break over time when exposed to UV light, and a lower level of chemical resistance than other gelcoat choices. For many composite applications, polyester gelcoat is still a flexible and affordable option overall, but it is important to be aware of its limits before using it.

Key Market Insights:

Stricter environmental rules pertaining to the emissions of styrene, a crucial component of polyester resin, are projected to result in regulatory fines reaching USD 5.2 billion by 2027, impacting the market. On the other hand, the creation of bio-based polyesters from renewable resources offers a bright future. The bio-based polyester market is anticipated to increase significantly between 2024 and 2029, with a compound annual growth rate of more than 8%.

Polyester gelcoats with well-established and accessible production techniques have two advantages for the market. With a predicted market size of more than USD 2 billion by 2027, it ensures a stable supply chain. Manufacturers may select polyester gelcoats with confidence for their projects because of constant product quality, which reduces interruptions and rework expenses.

The market for polyester gelcoats is expected to grow in emerging nations like China and India due to the rising need for wind energy, transportation, and infrastructure. By 2025, China and India's combined investment in infrastructure development is expected to exceed $1 trillion USD. Because of their affordability and applicability for a range of infrastructure projects, polyester gelcoats present considerable potential because of this increase.

Global Polyester-based Gelcoats Market Drivers:

Advantage of Cost One of the Main Factors Driving the Global Gelcoats Market Based on Polyester

The worldwide market for polyester-based gelcoats is primarily propelled by their economic value. Polyester gelcoats are significantly less expensive than other gelcoat alternatives, such as epoxy. They are very appealing for a variety of applications because of their cost, especially in fields where finances are a key factor. Polyester gelcoats offer a practical means for producers in cost-sensitive sectors like transportation or construction to get specified performance attributes without breaking the bank. Because of their lower pricing and superior quality composite components, both producers and customers eventually gain from this economic advantage. Because polyester gelcoats are less expensive, they may be used in a wider range of applications, even ones with tighter budgets. This broad application supports the market for polyester-based gelcoats' overall expansion and stability.

Known Manufacturing Procedures: Guaranteeing Polyester Gelcoat Dependability and Uniformity
The well-established and readily available production procedures for these materials considerably assist the worldwide market for polyester-based gelcoats. For both producers and consumers, this maturity translates into a few significant advantages. It guarantees a dependable supply chain, to start. Polyester gelcoats are consistently supplied to suit market demands by a multitude of producers using well-proven production processes. For firms who rely on a consistent flow of materials to keep up their production schedules, this dependability is essential. Second, reliable procedures result in consistently high-quality products. Standardised manufacturing processes result in polyester gelcoats with predictable performance, application behaviour, and final finish qualities. Moreover, well-established procedures frequently result into productive manufacturing, which saves costs for producers. In the end, this helps consumers since it may result in polyester gelcoats that are more reasonably priced. In conclusion, the market's stability and expansion are significantly influenced by the maturity of the polyester gelcoat production processes.

Global Polyester-based Gelcoats Market Restraints and Challenges:

Numerous obstacles prevent the worldwide gelcoats industry based on polyester from expanding. One important obstacle is the strict environmental rules. One important ingredient, styrene, emits toxic emissions both during manufacture and use. Concerns about these pollutants' effects on the environment and public health are forcing governments to tighten controls. Because of this, polyester gelcoats are not as desirable as more environmentally friendly options. Another danger is the competition from rival gelcoats. Lower VOC emissions, improved durability, and chemical resistance are provided by epoxy and vinyl ester gelcoats. They may overtake polyester gelcoats in market share as their prices become more competitive. Because of price volatility, fluctuating raw material costs—such as those of polyester and styrene resins—can have a major effect on businesses' profitability. Further limiting market expansion might be a fall in demand from specific industries, like as transportation, where lighter materials are favoured.

Global Polyester-based Gelcoats Market Opportunities:

Although there are obstacles facing the worldwide gelcoats industry based on polyester, there are still room for expansion. Demand for these reasonably priced gelcoats is anticipated to be fueled by the expanding transportation, wind energy, and infrastructure sectors of China and India's developing economies. With their renewable resource basis, bio-based polyesters provide a more environmentally friendly choice and expand business opportunities. Polyester gelcoats are perfect for outdoor applications as manufacturers are creating new formulations with increased UV protection. In order to fulfil the demand in transportation and construction, lighter solutions are being developed. Lastly, new developments in application techniques, such as gel infusion and automated spraying, can save labour costs and increase productivity. The market for polyester-based gelcoats may continue to be a major force in the composite materials sector by taking advantage of these prospects.

POLYESTER-BASED GELCOATS MARKET REPORT COVERAGE:

Global Polyester-based Gelcoats Market Segmentation: By Resin Type

• Polyester

• Bio-based Polyesters

Based on resin type, the worldwide market for polyester-based gelcoats is divided, with classic polyester commanding the largest share owing to its cost-effectiveness and well-established manufacturing processes. The fastest-growing market is that of bio-based polyesters, a more environmentally friendly substitute made from renewable resources. Environmental concerns are driving this trend. Still, their market share now is probably lower than that of standard polyesters.

Global Polyester-based Gelcoats Market Segmentation: By End-Use Industry

• Transportation

• Marine

• Construction

• Wind Energy

• Other End-Use Industries

Gelcoats are used in transportation to make lightweight vehicles, and in marine applications, boats must be water resistant and aesthetically pleasing. Their weather resistance in turbine blades is utilised by wind energy, while construction benefits from their longevity in building components. Polyester gelcoats are also used in other industries, such as entertainment, appliances, and sanitation. Though determining the exact largest and fastest-growing category necessitates access to up-to-date market data, given their lengthy history of usage and steady expansion, transportation and construction are formidable competitors. Recent statistics may even show that wind energy is a fast-expanding market driven by the quickly expanding renewable energy sector.

Global Polyester-based Gelcoats Market Segmentation: By Region

• North America 

• Asia-Pacific 

• Europe 

• South America 

• Middle East and Africa

Asia-Pacific is now the leading and fastest-growing region in the worldwide polyester-based gelcoats market, according to regional segmentation. This dominance is the result of factors including the fast economic expansion of China and India, which is driving up demand for these affordable gelcoats in the transportation, wind energy, and infrastructure sectors. Asia-Pacific's position in this market is further reinforced by government assistance for renewable energy and infrastructure development, as well as a growing industrial base within the region.

COVID-19 Impact Analysis on the Global Polyester-based Gelcoats Market:

The global market for polyester-based gelcoats suffered greatly from the COVID-19 epidemic, especially in 2020. Lockdowns and economic disruptions had a double effect: they broke raw material supply chains and decreased demand from the transportation and construction industries (because of a decrease in car manufacturing and project delays). Project cancellations and labour shortages further depressed the market. But since 2021, encouraging indicators have surfaced. Demand has surged because of the economic recovery, and producers have adjusted by diversifying their sources and controlling their inventories. In the upcoming years, pent-up demand from delayed projects might potentially lead to a boom. Despite the short-term setback, the future for polyester-based gelcoats seems promising due to the expansion of developing countries, the increasing emphasis on sustainability with bio-based alternatives, and improvements in application techniques.

Recent Trends and Developments in the Global Polyester-based Gelcoats Market:

The market for gelcoats made of polyester is changing on a worldwide scale. Sustainability is a key concern, and bio-based polyesters made from renewable resources are becoming more and more popular as environmentally beneficial substitutes. Additionally, producers are creating gelcoats with increased UV protection for prolonged outdoor usage, especially in maritime and construction settings. The desire for lighter buildings and fuel-efficient cars is met by lightweight choices. Application techniques are also innovative; automated spraying and gel infusion provide reduced labour costs and increased efficiency. Another important trend is cost optimisation through improved processes and new formulations. Additionally, the industry is growing into new industries including appliances, recreation, and sanitation. In conclusion, the Asia-Pacific area is growing at the quickest rate because of its developing economy, infrastructural improvements, and increased reliance on wind energy.

Key Players:

1. Allnex

2. Alpha Owens Corning

3. Bufa Composite Systems Gmbh

4. HK Research Corporation

5. Ineos

6. Interplastic Corportion

7. Poliya Composites Resins and Polymers

8. Polynt Reichold

9. Scott Bader

10. Turkuaz Polyester