International.
The size of the global abrasion-resistant coatings market is estimated to grow from US$6.24 billion in 2016 to US$8.46 billion in the year 2021, at a CAGR of 6.3% during the forecast period.
The market is driven by the increasing demand for abrasion-resistant coatings in emerging and high-demand markets from various applications such as oil and gas, industrial, marine, power generation, infrastructure, and transportation. Asia-Pacific is projected to witness strong growth in the future. The growth in this region can be attributed to high demand from emerging markets such as China and India.
The growing popularity of different types of abrasion-resistant coatings such as metal/ceramic and polymer in various end-use applications plays an important role in driving this market. Oxide products represented the maximum percentage, in terms of value, of the total market, due to their wear-resistant and insoluble properties.
The growing demand for this class of environmentally friendly coatings such as those free of volatile organic compounds (VOCs) in countries such as Germany and France will drive this market.
Source: MarketsandMarkets.
