Coating Materials for Energy Sector Market : Overview
In 2020, the overall sales of the coating materials for the energy sector market witnessed a massive decline due to the Covid-19 crisis as lockdown was implemented and all the factorial units were closed which led the manufacturing companies to face immense losses. Now in 2021, the global manufacturers are giving entire focus on improving their sales and profitability through product innovations and upgrades.
Leading corporations including Calico Coatings, A & A Coatings, Impreglon UK Limited, EonCoat LLc, SiliconTek Corporation, Metal Coatings Corp., Precision Coatings, IncCoating Services Group, LLC., and others are making high investments in the establishment of research institutes in different regions to come up with improvements in their offerings. They are adopting business strategies such as sales contracts, strategic alliances, acquiring technical expertise, product approvals, patents and events, joint ventures, partnership agreements, collaborations, digital marketing, mergers and acquisitions, capacity utilisations, technological advancements etc to lead the global market for coating materials for the energy sector with largest market share.
For instance, Calico coatings, a leading player in the coating materials, recently announced new coating systems and automated ceiling lines. The company has added state of the art PVD-PACVD machines with large capacity to the Denver, NC facility. These systems are 3rd of 4th coating systems introduced in the facility because of the increasing demand of high quality DLC coatings supplied by Calico Coatings.
The company has also added a production process for DLC/PVD coatings and cleaning line to streamline the quality. North America dominates the coating materials for the energy sector market owing to the emergence of new players and rapid growth in the energy sector. The Asia Pacific region is projected to be lucrative through 2030 due to the growth in the economies of the various developing regions. All the other key regions are driving the market growth and opening various opportunities for manufacturers.
Coating Materials for Energy sector Market – Introduction
Coating materials are used to cover the surface of the turbine blades and machine components in the oil & gas, natural gas, wind power, and solar power sectors. Coating materials are used to protect energy assets such as pipelines and tanks in the energy sector. Inorganics coating materials are mainly used in the oil and gas sector. The inorganic coating materials for the energy sector do not contain VOC toxins and they are environment-friendly coatings. Coating materials for the energy sector can also be used to protect the solar energy equipment.
The main reason for using coating materials in the energy sector is to protect the equipment from damage. In solar plants, various kinds of coating materials of strong protection properties are used, such as molybdenum-disilicide and iron-chrome-aluminum, due to the high temperature generated. Coating materials for energy sector are also used to protect the equipment from Electromagnetic Interference (EMI) and Radio Frequency Interference (RFI). Nowadays, some of world’s major energy companies are using coating materials for the energy sector to protect their equipment from rust and prolong the efficiency.
Maintenance-oriented coating materials are mostly used for texture, color and other different visual properties for unique identification. Functional coating materials are mainly used to change the surface properties such as wettability, corrosion resistance, adhesion and wear resistance, and many more traits. In some cases, coating materials for energy sector can be added for the entire new property like electrical conductivity, magnetic response and to prepare the essential part of the different kind of finished products.
Coating Materials for Energy Sector Market – Dynamics
The global coating materials for energy sector market is expected to grow at a robust CAGR over the forecast period, due to the growth of the energy sector with increasing number of new set ups. The demand for coating materials for energy sector is also expected to generate from the repair and servicing of components in existing facilities. The use of PTFE coating materials in the energy sector across the world is increasing due to its fasteners and other properties such as seals, valves, gaskets, fittings, risers and it can reduce the torque, improve the corrosion resistant and eliminate the galling. The increasing production of petroleum and natural gas has not only had a significant impact on the macro economy, but also the chemical industry, particularly the chemicals used in coating materials for energy sector such as resins and solvents. The natural gas, solar power, wind power, oil and gas industries are the end users of the coating materials for energy sector market. With the increase in the production in these end-use industries the demand for the coating materials for energy sector is expected to grow in the forecast period.
Coating Materials for Energy Sector Market – Regional Outlook
North America is expected to a dominating region in the global coating materials for energy sector market over the forecast period. Europe is expected to be the prominent revenue-generating region by 2020. Due to the growing economies of China, India, and Brazil the coating materials for energy sector market is expected to at a significant CAGR in these regions. The Middle East and Africa is also expected to be a lucrative market for coating materials for energy sector.
Coating Materials for Energy Sector Market – Key Participants
Examples of some of the key players in the coating materials for energy sector market are:
- Calico Coatings
- A & A Coatings
- Impreglon UK Limited
- EonCoat LLc
- SiliconTek Corporation
- Metal Coatings Corp.
- Precision Coatings, Inc.
- Coating Services Group, LLC.
Coating Materials for Energy Sector Market – Segmentation
Based on the material type, the global coating materials for energy sector market is segmented into:
- Dry Film Lubricant Coating
- EFP Coating
- Break in Lubricant Coating
- Ceramic Coating
- PTFE Coating
- PVD Coating
- PECVD Coating
- Surface Finishing Coating
- Chemical Resistant Coating
Based on the technology, the global coating materials for energy sector market is segmented into:
- HVOF Coatings
- Flame Spray Coatings
- Electric Arc Coatings
- Plasma Spray Coatings
- Spray and Fuse Hardfacing Coating
Based on the end user, the global coating materials for energy sector market is segmented into:
- Solar Power
- Natural Gas
- Wind Power
- Oil & Gas
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