Top Players in the Composite Coatings Market: Leaders Driving Innovation
Composite coatings are protective coatings that apply the substrate to steel or concrete and protect it against corroding damage. it comprises of a synthetic resin of epoxy and polyurethane, typically coating several layers. Normally utilized in construction for their safe protection against corrosion on steel and thermal barrier properties on concrete and other materials. Composite coatings are lightweight and low volatile organic compound (VOC). The composite coatings market is growing with progression due to need for lighter, stronger materials in aircraft and automobiles where weight is reduced for better fuel economy and performance. Thus, composite coatings represent an important factor in these above areas. Increased production in the automobile sector, in turn, will increase the market for composite coatings, being so critical to the new automobile’s needs of protection, aesthetics, and needs of repair and restoration in the refinish automotives. The International Organization of Motor Vehicle Manufacturers (OICA) recorded a production increase of 10% in 2023 vehicles, with 93,546,599 produced in all, including cars numbering 67,133,570 and commercial vehicles numbering 26,413,029.
Figure 1: Vehicle Production in the World, in Million, in 2023
Source: OICA
Top companies in the composite coatings market
- AkzoNobel
- PPG Industries
- Sherwin Williams
- INOMETA (AVANCO Group)
Let’s discuss each in detail.
- AkzoNobel
AkzoNobel is a global leader in the manufacturing of paints and coatings products and solutions. It is based in the Netherlands, with the company having over 150 countries in its accessibility across the globe. It pursues brands such as Dulux, International, Sikkens, and Interpon, focusing its business on more sustainable and innovative solutions. In addition, they push themselves to always innovate in the types of solutions they are delivering in all areas, especially in enhancing their sustainability and longevity aspects.
The strategy of the company is a balance between growth and improvement in profitability, to become a first-class portfolio of brands in terms of coverage by distributing revenue with 50% coming from emerging markets, across-the-board global geography so that the sources of income are well spread out worldwide to help build growth and enhance profitability in its products The company generates strong cash generation for itself through the positioning of a well-placed consumer base which will hold it at optimum drive to enjoy the fastest turnarounds in growth as well as profitability improvement.
AkzoNobel provides in detail all composite coatings product lines from the specialized divisions, namely Aerospace Coatings. Under this, it offers Aerodur Barrier Primer 37045, a solventborne chromate-free 3-component isocyanate-cured epoxy primer for composites and plastics, in black and white colors only. The maximum gloss level of the product is 25 GU. It gives a coverage of 35 m² per liter and 1423 ft² per US gallon. The assumed application of their composite coatings are related to aerospace defense sector that require lightweight but high-performance materials.
- PPG Industries, Inc.
PPG is a worldwide leader in paints, coatings, and materials, with operations in over 70 nations and a customer trust of 135 years. It has several products suited to industries such as aerospace, automotive, industrial, and protective and marine. A commitment to high quality and innovation is very well-known of the company. It currently has more than 156 manufacturing sites serving across 70 countries. PPG focuses on providing innovative and environmentally viable coating solutions that improve product performance and aesthetics over time across a plethora of applications.
The company offers high-performance coating products for composite structures. They are a leading name in aerospace coatings, offering products for exteriors and interiors of aircraft that are resistant to extreme conditions. PPG also provides automotive coatings, which include original equipment manufacturer (OEM) and refinishing, with promises of durability and colorfastness under exceptional, high-quality finishes. They also provide industrial coatings like protective coatings for metal structures, powder coatings, and specialty coatings for difficult conditions.
- Sherwin-Williams
Sherwin-Williams is another well-known producer for paint and coatings industries that has the widest variety of products for varied forms of use such as residential, commercial, industrial, and marine products. The company was started in 1866 and has a long history of developing business, innovating, and meeting the needs of the workforce and global customers. They market their branded products through exclusive sale in over 5,000 stores across the US, Canada, the Caribbean, and Latin America. They have engineered paint and coating solutions that can reach more than 120 countries doing business in construction; industrial; packaging; and transportation markets. The company comes with complementing reputation in terms of quality, shades from the extensive color spectrum available, and an ironclad commitment to innovation and customer support.
The company works as an integrated major, focusing mainly on composite coatings in its industrial coatings division. Their composite coatings are primarily intended for the industrial application requiring durability, corrosion resistance, and specific performance characteristics. Their pigmented wood/composite topcoats product portfolio like Sher-Wood® F3 Kemvar® Plus Conversion Varnish, Kem Aqua® Plus, among others are compliant with industrial standards and show excellent hardness, flow, leveling, and resistance to blocking, marring, staining, and printing. These products provide finishes that make a difference indeed on building products.
Besides, the latest product launch from Sherwin-Williams Aerospace Coatings includes a new aerospace conductive coating designated as CM0485115, which is a high-conductivity solution for the dissipation of static on aluminum as well as composite aircraft in September 2023. The coating is characterized by a resistivity value ranging from 0.1 to 100,000 ohms per square meter; thus, it affords the static charges to dissipate from antennas and radomes. Its good adhesion and fluid resistance make it a staple for the soaring adoption of composite substrates in the aerospace marketplace.
- INOMETA (AVANCO Group)
INOMETA is a German company, part of the AVANCO Group, developing and producing innovative lightweight design solutions and functional surfaces. It specializes primarily in technical lightweight design items manufactured from aluminum and fiber composites such as carbon fiber-reinforced plastic and glass fiber-reinforced plastic.
Fiber-reinforced and ceramic-filled plastic coatings with exceptional strength, versatility, and adaptability are INOMETA’s PROTEK® composite coatings. They offer high performance in diverse applications due to their extraordinary adhesion strength to carbon or glass fiber composites, optimum abrasion resistance, and electrical insulation or conductivity adjustability. Applications of these coatings ranges from printing, offshore, medical technology glass and ceramics, textile, and paper and film. They also serve in rubber recovering and are fulfilling even the most serious industry requirements through state-of-the-art processes and controlled precision.
Conclusion
The composite coatings market is poised to grow significantly because of factors such as growing demand for lightweight materials, strict environmental regulations, and technology advances. Some major companies like Sherwin-Williams and AkzoNobel have also been investing in upgraded R&D facilities to develop innovative products. Such industry leaders share is important for latest product innovations that would shape the future of the market through various strategic collaborations, mergers and acquisitions, and strong believe in sustainability. When the market changes through growth, by these leading companies, it will meet the increased demand across end-use industries, thus ensuring this ever-thriving industry becomes better.
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