Gelcoat Market Poised For Steady Growth, Projected To Reach USD 4,237.75 Million By 2032 | Report By SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) Rising demand for corrosion-resistant coatings in marine & automotive industries, along with advancements in resin technology, is driving the Gelcoat market.

Austin, March 21, 2025 (GLOBE NEWSWIRE) -- The Gelcoat Market Size was valued at 1,390.34 Million in 2023 and is expected to reach USD 4,237.75 Million by 2032, growing at a CAGR of 4.70% over the forecast period of 2024-2032.

Expanding Industrial Applications and Sustainability Trends Fueling the Growth of High-Performance Gelcoat Coatings Across Key Sectors

The Gelcoat market is witnessing strong growth due to its rising applications in marine, wind energy, and automotive industries. Gelcoat, a premium resin coating, enhances the durability, surface protection, and UV resistance of fiberglass-reinforced plastics. The U.S. Department of Energy (DOE) reported a 35% rise in wind energy capacity (2022–2024), boosting Gelcoat demand for turbine blades. Similarly, the National Marine Manufacturers Association (NMMA) noted a 12% increase in recreational boat sales in 2023, further driving market expansion. Key players like Ashland, Inc. and Polynt-Reichhold are scaling up production to cater to rising demand. Additionally, the growing use of lightweight composites in transportation and aerospace is accelerating adoption. Stricter environmental regulations are fostering the development of eco-friendly Gelcoat formulations, further enhancing market penetration. With technological advancements and sustainability initiatives, the industry is poised for steady growth across global markets.

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• Key Players:
• Allnex (Crestacoat 5000, Viapal Gelcoats)
• Ashland (Maxguard, Enguard)
• BÜFA Composite Systems GmbH & Co. KG (BÜFA-ISO-Gelcoat, BÜFA-Flexshield)
• Fiberglass Coatings Inc. (FGCI ISO NPG Gelcoat, FGCI Marine Gelcoat)
• GRP Factors Ltd. (GRP Standard Gelcoat, GRP Marine Gelcoat)
• Gurit Services AG (Ampreg Gelcoat 90, Spabond Gelcoat)
• HK Research Corporation (Aquaguard, UltraShield)
• INEOS Composites (Neogel, Optus Gelcoat)
• Interplastic Corporation (CoREZYN, Silmar)
• Poliya (Polijel 712, Polijel 730)
• Polynt Reichold (Dion Gelcoat, Polygel)
• Resoltech (Resoltech 8020, Resoltech 5010G)
• Scott Bader (Crystic Gelcoat 65PA, Crystic Permabright)
• Sea Hawk Paints (Gelcoat White, Gelcoat Neutral)
• Sicomin Epoxy Systems (SGi 128, SGi 15)
• Spectrum Color (Spectrum Premium Gelcoat, Spectrum Color Matched Gelcoat)
• Turkuaz Polyester (Turkuaz ISO Gelcoat, Turkuaz NPG Gelcoat)
• Soromap Group (Soromap Iso Gelcoat, Soromap Topcoat Marine)
• Bang & Bonsomer (BangGel ISO, BangGel NPG)
• Atul Ltd (Atul Epoxy Gelcoat, Atul Polycoat)

Gelcoat Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 1,390.34 Million
Market Size by 2032	USD 4,237.75 Million
CAGR	CAGR of 4.70% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	.By Resin Type (Polyester, Vinyl Ester, Epoxy, Others) .By Application Pattern (Spray-up, Brush & Roller) .By End-use Industry (Marine, Wind Energy, Transportation, Construction, Others)
Key Drivers	. Advancements in High-Performance Gelcoat Formulations Drive Demand Across Multiple End-Use Industries.

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Technological Advancements in Gelcoat Manufacturing

• Manufacturers are focusing on eco-friendly solutions with lower volatile organic compounds (VOCs) to meet regulatory standards.
• Enhanced scratch and chemical resistance in Gelcoat through the use of nanomaterials.
• Adoption of robotics and AI-driven systems to improve precision in Gelcoat application, reducing production costs and defects.
• UV and thermal curing methods are improving efficiency in end-use applications.
• Development of sustainable Gelcoat formulations using renewable sources to reduce environmental impact.

By Resin Type , Polyester Resin Dominated the Gelcoat Market in 2023 with a 52.8% Market Share

Polyester gelcoats are favored for their cost-effectiveness, ease of application, and robust mechanical properties, making them ideal for marine and automotive applications. For instance, in the marine industry, polyester gelcoats provide excellent water and UV resistance, essential for boat exteriors. Similarly, in automotive applications, they offer a durable finish for exterior panels, contributing to vehicle aesthetics and protection. The widespread availability and versatility of polyester resins have solidified their leading position in the gelcoat market.

By Application Pattern , Spray-up Segment Dominated the Gelcoat Market in 2023 with a 67.4% Market Share

The spray-up method dominated in 2023 due to its efficiency in producing high-quality surface finishes with uniform thickness. This technique is widely adopted in marine, transportation, and wind energy applications. Companies like BASF SE and Polynt Group have introduced automated spray-up systems, improving productivity and reducing material wastage. The rising demand for large-scale composite structures, particularly in wind turbine blades, continues to drive the adoption of this method.

By End-Use Industry , Marine Industry Dominated the Gelcoat Market in 2023 with a 38.2% Market Share

The marine industry dominated the Gelcoat market in 2023, primarily due to increasing boat and yacht production. According to the NMMA, the demand for personal and commercial watercraft surged in 2023, with a 10% year-over-year growth in the U.S. alone. Gelcoat's superior water resistance and glossy finish make it a preferred choice for boat hulls and decks. Additionally, advancements in anti-fouling Gelcoat formulations are further enhancing durability and performance in marine environments.

North America Region Dominated the Gelcoat Market In 2023, Holding A 38.5% Market Share.

This leadership is attributed to the robust marine and automotive industries in the region. The U.S. recreational boating sector, for instance, has seen substantial growth, with the NMMA reporting significant sales figures in recent years. Additionally, the presence of major automotive manufacturers focusing on lightweight and durable vehicle components has spurred gelcoat usage. The region's emphasis on technological innovation and adherence to stringent quality standards have further cemented its dominant position in the gelcoat market.

Asia Pacific Region Emerged as the Fastest Growing Region in Gelcoat Market with a Significant Growth Rate in The Forecast Period

This surge is driven by rapid industrialization, urbanization, and increasing investments in marine and automotive sectors. Countries like China and India have witnessed a boom in shipbuilding and automotive production, leading to heightened demand for gelcoats. For example, China's initiative to become a maritime powerhouse by 2030 includes plans to construct 40 cruise ships, boosting gelcoat consumption. The region's focus on infrastructure development and favorable government policies have also contributed to the gelcoat market's expansion.

Recent Developments

• June 2024: Biesterfeld and Scott Bader extended their partnership to Finland, boosting gelcoat and adhesive distribution in marine, transportation, and renewable energy sectors.
• March 2024: Polynt Group signed an MoU to acquire Polyprocess, aiming to expand its gelcoat market presence and strengthen its composite materials portfolio.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Gelcoat Market Segmentation, by Resin Type

8. Gelcoat Market Segmentation, by Application Pattern

9. Gelcoat Market Segmentation, by End-use Industry

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practice

13. Conclusion

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