Global Linings Market to Create Incremental Opportunity of US$ 1.8 Bn During Forecast Period
The global linings market, which was valued at US$ 3.9 Bn in 2018, is anticipated to expand at a steady rate through the forecast period, according to a new market study by XploreMR. Factors such as rapid industrialization, increasing marine trade activities, growing adoption in the chemical industry are expected to act as major attributes to the growth of the market during the forecast period.
Furthermore, owing to their ability to control corrosion in tanks storing fuels and liquids, linings are used in several applications, such as marine, power generation, oil & gas, automotive, construction, mining, and metal processing, among others. On the backs of these factors, the market is expected to bestow an incremental opportunity of US$ 1.8 Bn through the forecast period.
Marine and Chemical Industries Bestow Remunerative Opportunities
The seaborne trade, which continues to account for nearly 80% of the international trade volume and approximately 70% of international trade value is a major growth attribute to the linings market. On this premise, the global shipbuilding industry, which designs and produces new vessels and maintains existing vessels - is also witnessing an upsurge of orders. The production of newer vessels and maintenance, repair, and overhaul (MRO) services of existing ships are increasing the demand for linings.
In addition to the marine segment, the chemical industry is valued at US$ 3.5 Tn and is expected to contribute a healthy portion of revenue to the linings market. The linings market is benefitted by the expansion of the chemical industry to the Asia Pacific region, with countries such as China and India being the hub for chemical facilities.
Waterborne Linings to Replace Solventborne Linings as Leading Segment
Based on the chemistry of linings, the solvent-borne segment held a volumetric share for 58.6% in 2017 while waterborne and powder-based linings accounted for the remaining share. In the recent past, the demand for waterborne linings has witnessed an upsurge on the back of the introduction of stringent environmental regulations and rising consumer awareness. Backed by these facets, waterborne linings are expected to dethrone the solvent-borne lings segment as the leading chemical lining segment.
Epoxy Linings Remain Most Popular Product Type
On the basis of product type, epoxy linings are foreseen to remain the most sought-out product type among end-users, owing to their excellent resistance to various chemicals, that minimizes the risk of contamination. Furthermore, factors such as technological advancements and the shift from solvent-borne to waterborne linings, are expected to boost the demand for epoxy linings. On the regional front, China, which accounted for 35% of global market share, is foreseen to remain at the forefront of the global market, while Europe and India are forecasted to bestow lucrative revenue opportunities during the forecast period.
Competitive Landscape of Global Linings Market
Some of the major market players in operating the global linings market include The Jotun Group, The Sherwin Williams Company, Hempel A/S, Akzo Nobel N.V., Polycorp Ltd., Teknos Group, GBT-BÜCOLIT GmbH, STEULER-KCH GmBH, Ultimate Linings, Ltd., Sauereisen, Inc., Solvay SA, and PPG Industries, Inc.
The report titled “Linings Market: Global Industry Analysis 2013-2017 and Opportunity Assessment, 2018–2028” offers detailed insights and in-depth research on the linings market on a global level. The report covers the important factors driving the growth of the market, untapped opportunities for the manufacturers, trends and developments shaping the dynamics of the linings market and other insights across key segments.
The linings market is categorically divided into four segments based on product type, chemistry, end use and region. The linings market value throughout the segments has been taken in US$ Mn and the market volume has been identified in tonnes for all segments. The report identifies the drivers and restraints affecting the growth of the linings market. Changing trends and consumer preference patterns have also been analysed and incorporated in the report to equip the client with exhaustive information about the linings market, resulting in better decision making. Macroeconomic factors that directly or indirectly affect the growth of the linings market have also been presented in the report.
Towards the final section of the report, competitive landscape has been included to provide report audiences with a dashboard view. The report provides detailed market share analysis of linings market on the basis of prominent manufacturers in the linings market. Comprehensive profiles of manufacturers have also been included within the scope of the report to evaluate strategies, key offerings and recent developments in the linings market.
The linings market is segmented as given below:
By Product Type:
- Vinyl Ester & Flake-Filled Ester
Ceramic & Carbon Brick Line
- Solvent borne
By End Use:
- Oil & Gas
- Power Generation
- Chemical Industry
- Mining and Metal Processing
- North America
- Latin America
- Western Europe
- Eastern Europe
The volume of the Linings market has been inferred through in depth secondary research and validated from industry experts through primary interviews. Each interview was thoroughly analysed and average market volume was deduced and reconfirmed and then incorporated in the report. The prices of Linings have been deduced through product type, where the average price of each product has been inferred across all nine regions. Market value of linings market has been calculated from the data provided by the average selling price and market volume.
For the ten year forecast of the linings market, various macroeconomic factors and changing trends have been observed, which give an idea about the future of the linings market. Other important factors considered to arrive at linings market forecast are the size of the current linings market, inputs from the supply side and demand side and other dynamics shaping the scenario of the linings market.
The forecast has been conducted in terms of CAGR, while other important criteria, such as year-on-year growth and absolute dollar opportunity, have also been incorporated presenting the client with crystal clear insights and future opportunities in the linings market.
Other important parameters, such as market attractiveness index and impact analysis of drivers and restraints, for each region have been included in this report that provide insights about the dynamics, growth, performance and untapped opportunities in the Linings market. In-depth profiling of prominent linings manufacturers has been included in the final section of the report, detailing the strengths, weaknesses and competitive strategies of each linings manufacturer.
Some of the key market participants included in the “LININGS Market: Global Industry Analysis 2013-2017 and Opportunity Assessment, 2018-2028” report are The Jotun Group, The Sherwin Williams Company, Hempel A/S, Akzo Nobel N.V., Polycorp Ltd., Teknos Group, GBT-BÜCOLIT GmbH, STEULER-KCH GmBH, Ultimate Linings, Ltd., Sauereisen, Inc., Solvay SA, PPG Industries, Inc.
Lining Market: Polymer Lining to Gain Significant Traction Among All Product Types: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028Buy Now
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