Authored By: Sarah
02 Jun 2021

Sol-gel Coatings Market Size to Grow by $ 2.63 bn During 2020-2024

Technavio has been monitoring the sol-gel coatings market and it is expected to grow by $ 2.63 bn, accelerating at a CAGR of almost 11% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Sol-gel Coatings Market: North America to lead market growth during the forecast period

  • 38% of the market growth will originate from North America during the forecast period.
  • Growing demand from building and construction applications will be a key trend that will influence market growth significantly.
  • The Use in automotive and aerospace sector will be a significant factor in driving the growth of the sol-gel coatings market.

Sol-gel Coatings Market to Post Incremental Growth of $ 2.63 bn During 2020-2024 | Key Geographies that will Drive Growth

Sol-gel Coatings Market: Key Competitors

The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 3M Co., Akzo Nobel NV, Ferro Corp., Henkel AG & Co. KGaA, Mitsubishi Materials Corp., PPG Industries Inc., SCHOTT AG, SOCOMORE SASU, Solvay SA, and The Sherwin-Williams Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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Sol-gel Coatings Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive sol-gel coatings market growth during the next five years
  • Precise estimation of the sol-gel coatings market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the sol-gel coatings market industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of sol-gel coatings market vendors
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