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Lining Market Was Valued At USD ~4 Billion In 2019. It Is Projected To Witness At A CAGR Of 3.8% During The Forecast Period (2020-2028)
Rapid industrialization and increasing marine trade activities are major factors driving the growth of the lining market. The lining market is undergoing dynamic changes in terms of the costs of raw materials, especially for epoxy and polyurethane, which puts an additional pressure on manufacturers and suppliers to increase the prices of finished liner goods. Furthermore, environmental regulations across the globe hinder the growth of the lining market throughout the forecast period.
The combination of benefits provided by linings including layers of insulation and protection added inside a tank, pipeline and furnace that boosts the sales of these products. Tank linings provide the tank with corrosion control and keep the product stored dry. Additionally, lining improves the substratum's service life while also maintaining maximum commodity storage efficiency. The linings form an impermeable barrier between the substrate and the stored liquid and provide corrosion resistance and help to maintain the durability of the substrate. Lining is used in a number of applications, including marine, oil & gas, power generation, chemical industry, automobile, manufacturing, mining and metal processing.
The global smart baggage handling systems market is bifurcated on the basis of product type and geography. In terms of store type, the global market is segmented into Polymer (Epoxy, Polyurethane, Acrylic, Alkyd, Fluoropolymer, Vinyl Ester & Flake-Filled Ester), Rubber, Ceramic & Carbon Brick Line, Tile Lining. In terms of geography, the global market is segmented into Asia-pacific, North America, Latin America, Europe, Middle East and Africa (MEA).
In terms of Chemistry, Solvent Borne Segment Dominates The Global Lining Market. It Is Expected To Hold More Than 50% Of The Total Market
Based on product type, the solvent borne segment dominated the market and accounted for a share of more than 50% in the global lining market followed by powder-based in 2019. This segment is set to register a CAGR of XX% during the forecast period 2019 to 2027. Increasing demand for waterborne linings is estimated to drive the linings market globally, owing to stringent environmental regulations and consumer awareness. During the forecast period, water borne segment is expected to surpass the solvent-borne linings segment.
In terms of End-Use, Marine Segment Is Expected To Remain Dominant In The Global Lining Market
Based on end-use, the market is bifurcated into marine, construction, power generation, oil & gas, chemical industry, automotive, mining and metal processing, and others. The marine segment dominated the global lining market in 2019. This can be associated with a trade volume of seaborne trade which accounts for around 80% of total international trade volume. Marine commerce provides benefits such as low cost of transporting heavy and bulky goods around the world, specifically liquid cargo. Thus driving the demand of the lining market in this segment.
In contrast, the chemical segment is following the marine segment in the global lining market. Owing to the growth of chemical manufacturing industries in the regions including Russia, Germany, and France among others.
Asia Pacific Region Leads The Global Lining Market In Terms Of Revenue And Volume Share
In 2019, Asia Pacific region dominated the lining market followed by North America. This is due to the rising demand from countries such as China and India among others. China accounted for more than 60% of the global lining market in 2019.
The Market Is Expected To Register A CAGR Of XX% During The Forecast Period.
During the forecast period, lining market is expected to grow significantly and is expected to account for a share of more than 20% in the North America region. Lining market in Europe offers lucrative opportunities for growth. This is due to the growing chemical industry in the regions such as Russia, Germany, and France among others. Major players are adopting various strategies such as mergers and acquisitions to gain a competitive edge in the region.
The Jotun Group, The Sherwin Williams Company, Hempel A/S, Akzo Nobel N.V., Polycorp Ltd., Teknos Group, GBT-BÜCOLIT GmbH, STEULER-KCH GmBH, Ultimate Linings, Ltd., Sauereisen, Inc., Solvay SA, and PPG Industries, Inc. among others.
Segmentation of Global Lining Market:
Lining Market by Product Type:
- Vinyl Ester & Flake-Filled Ester
- Ceramic & Carbon Brick Line
- Tile Lining
Lining Market by Chemistry:
- Solvent borne
Lining Market by End-use:
- Oil & Gas
- Power Generation
- Chemical Industry
- Mining and Metal Processing
Lining Market by Region:
- North America
- South America
- Middle East & Africa