Increasing Consumer Awareness to Fuel Adoption of Linings Market

Posted by Vikas Bahurupi on February 13th, 2019

RRI delivers key insights on the global liningsmarket in its latest report titled ‘Linings Market: : Global Industry Analysis, Size, Sales and Forecast By 2028. The long-term outlook on the global liningsmarket remains positive with the market value expected to increase at a CAGR of 4.1% during the forecast period 2028). Among the segments bychemistry, thewaterbornelinings segment is expected to expand at a significant CAGR in terms of value and volume over the forecast period.While the solventborne segment holds a bigger market share, the powder based segment is expected to grow at the fastest pace. The global sales of liningsis estimated to be valued at US$ 3,958.7Mn by the end of 2018. China is estimated to account for a value share of 35.3%in the global liningsmarket by 2018end and is anticipated to retain its dominance throughout the forecast period. In this report, throws light on the drivers and restraints likely to impact theliningsmarket during this period.

Increasing consumption of linings in end use segments, especially the marine industry, drives the market. Countries such as China, Koreaand Japan dominate the global shipbuilding industry. Trade through marine ports accounts for the biggest volumetric share of the international trade. This positions the marine segment as one of the top consumers of linings. Moreover, the chemical industry has exhibited optimistic growth over the past few years. Wiith significant growth in the industrial sector in countries such as India and China, the demand for linings has been increasing. The global chemical industry generated a revenue of over US.5 Trillion in 2015 and is estimated to be valued at over US$ 5.05Trillion by the end of 2028. With this healthy growth in the chemical industry, the linings market is set to grow in tandem with it.Due to the rapidly growing demand from various end use industries, market entry is expected to be easierfor small players,owing to the fact that there is vast scope for manufacturers to differentiate their linings product offerings through the introduction of novel linings products.

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On the other hand, stringentenvironmental regulations over VOC content may hamper the growth of the solvent-borne linings segment. Volatile raw material prices affect the optimum production of paints, coatings and linings and thisgradually leads to a hike in the finished product cost, which might hinder the growth of the linings market to a certain extent.

Segmentation Analysis:

The liningsmarket has been segmented on the basis of product typeinto epoxy, polyurethane, acrylic, alkyd, fluoropolymer and vinyl ester & flake-filled vinyl ester.
• On the basis of product type, the epoxy segment is anticipated to dominate the market in terms of value over the forecast period
• The epoxy segment is forecast to grow at a relatively higher CAGR over the forecast period. It is expected to represent a total incremental opportunity of US$ 624.6 Mn between 2018 and 2028
• Vinyl ester & flake-filled vinyl ester productsegmentsare expected to register stagnant growth throughout the forecast period

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Regional Market Projections

China is expected to be the leading region witha 35.3% market share in terms of revenue in the global linings market by the end of 2018. The Europe linings market is estimated to followChinathrough 2028 in the global linings market. The India linings market is projected to hold a significant market share in terms of value in the global liningsmarket over the forecast period, exhibiting a CAGR of 4.7% in terms of value.