The market size for abrasion resistant coatings is projected to grow from US$8.0 billion in 2019 to US$11.1 billion by 2024, at a CAGR of 6.5%
Published by Sarah Smith,
Assistant Editor
Energy Global,
In the power generation sector, abrasion resistant coatings are used in wind turbine blades, concrete cooling towers, valves, containment vessels, nuclear components, generators, dam structure, and turbines.
It improves UV stability and offers minimal dirt pick up, excellent abrasion resistance, and low reflectivity.
Most of the offshore wind turbines are protected by abrasion resistant coatings to prevent the wind turbine blades from the harsh environment at sea.
The market size for abrasion resistant coatings is projected to grow from US$8.0 billion in 2019 to US$11.1 billion by 2024, at a CAGR of 6.5% during the forecast period. The major driving factors for the market are stringent EU and US regulations regarding volatile organic compound (VOC) emissions. The other major drivers include the favourable properties of abrasion resistance coatings such as fast curing time and high temperature resistance. The demand for abrasion resistant coatings is also increasing in China, India, and Indonesia.
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Read the article online at: https://www.energyglobal.com/wind/12112019/the-market-size-for-abrasion-resistant-coatings-is-projected-to-grow-from-us80-billion-in-2019-to-us111-billion-by-2024-at-a-cagr-of-65/
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