Abrasion Resistant Coatings Market: By Type (Metal/Ceramic Coatings, Polymer Coatings), By End-user Industry (Oil & Gas, Marine, Power Generation, Transportation, Mining, Construction, Others), and Geography

Abrasion Resistant Coatings Market was valued at USD 9,750.7 million in 2023 and is poised to grow at a CAGR of 6.8% over 2024-2030. Abrasion-resistant coatings are specialized protective coatings that are applied to surfaces to increase their resistance to wear, abrasion, and friction-related damage. These coatings are made to lessen the impacts of mechanical wear and tear, hence extending the lifespan of various materials and surfaces and are frequently utilized in industrial, manufacturing, automotive, aerospace, and other applications where surfaces are frequently in contact with abrasive materials and exposed to harsh environmental conditions.

The increased application of abrasion-resistant coatings in various industries like manufacturing, mining, construction, and transportation to help protect equipment, machinery, and infrastructure from wear and tear, ultimately reducing downtime and maintenance costs drives the abrasion-resistant coatings market. Furthermore, the increased consumer market for electronics like touchscreen devices, camera lenses, and other devices with surfaces that are susceptible to scratches and abrasion is anticipated to propel the market demand. The ongoing research and development in coating technologies such as nanocoating and self-healing coatings have created several opportunities for manufacturers to offer novel solutions with improved performance and durability.

Moreover, the market is experiencing a trend toward coatings that are sustainable and beneficial to the environment. Due to increased environmental restrictions and consumer preferences, water-based, low-VOC, and environmentally friendly coatings are growing in popularity. But the high cost of the initial set-up and manufacturing process along with the compulsion to meet stringent environmental regulations and safety standards may hinder the market growth. However, the increased investment in the manufacturing industry, and increased demand from the power generation industry, advancement in technology, industrialization is anticipated to burgeon the market growth during the forecast years.

Abrasion Resistant Coatings Market Key Developments:

• In October 2020, Mitsui Chemicals, Inc., acquired COTEC? The acquisition allowed Mitsui Chemicals Group’s Vision Care Materials Division to expand its portfolio by acquiring ophthalmic lens materials including the MR™ series of high refractive index optical lens materials, as well as medium and low refractive index lens materials – COTEC.
• In March 2023, Coburn Technologies and SDC Technologies’ subsidiary FSI Coating Technologies launched Visgard® UV permanent anti-fog coatings in Coburn’s Velocity Spin Lens Coater.