Expanding at a modest CAGR of 3.9%, the global lining market is anticipated to reach a valuation of US$ 5,820.8 million, over the forecast period of 2018-2028, as per a recent study by Future Market Insights. The global lining market is estimated to be valued at US$ 3,958.7 Mn by 2018 end.
The increasing investments in oil and gas exploration operations, as well as the expansion of refinery production capabilities, are projected to have a substantial impact on global lining market prospects.
Furthermore, rising demand for trade through marine ports, a developing shipbuilding industry, and regular repair and maintenance of linings in ships are some significant drivers supporting the worldwide lining market’s growth.
Polymer Lining to Remain Most Preferred Across Industries Through 2028; Demand for Eco-Friendly Products to Induce Novelties in Lining Market
Segmented into polymer lining, rubber lining, ceramic and carbon brick lining, and tile lining, the global lining market will witness significant revenue contribution from the polymer lining variant. The polymer lining segment is projected to hold a dominant share in terms of both market value and CAGR index. Growing demand for linings across the globe as well as environmental regulations in developed regions are the major factors driving the lining market.
Moreover, increasing demand from marine, oil and gas, automotive, and chemicals industries is likely to drive the adoption of polymer lining in the global lining market. Epoxy resins are likely to dominant the global polymer lining market, owing to its excellent resistance to numerous chemicals couple with other technological advancements.
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Although solvent borne linings are likely to hold a significant share of the global lining market, considering increasing adoption of ecofriendly lining products in developed countries would propel the adoption of waterborne and powder linings.
Stringent Government regulations and adoption of lining products with low-VOC content are key factors pushing the demand for waterborne and powder linings. Manufacturers in the global linings market are constantly investing in R&D activities to introduce new products and technologies for product differentiation, further driving the lining market.
However, volatile prices of raw materials including epoxy and polyurethane and stringent government directives regarding VOC emissions across various regions are key restrainers impacting the overall growth of global lining market.
China followed by Western Europe and North America, are likely to showcase increased adoption of linings. Fast-paced industrial growth in China is significantly contributing to sales of lining products in the region, which is expected to hold nearly 35% of the market, by 2028.
Major global suppliers of linings are channelizing efforts towards developing partnerships with end users in order to better address the demand for specific requirements. Product customization is likely to remain a key differentiation strategy among key manufacturers in the global lining market.
Top players in the global linings market are: The Sherwin Williams Company, PPG Industries, Inc, Akzo Nobel N.V., Hempel A/S, The Jotun Group, Solvay SA, Teknos Group, and STEULER-KCH GmBH.
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Key Segmentation
The linings market is segmented as given below:
By Product Type:
- Polymer
- Rubber
- Ceramic & Carbon Brick Line
- Tile Lining
By Chemistry:
- Solvent borne
- Waterborne
- Powder
By End Use:
- Marine
- Oil & Gas
- Construction
- Power Generation
- Chemical Industry
- Automotive
- Mining and Metal Processing
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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