High speed rail is one of the safest and fastest modes of transport, which runs at a speed of over 200 km per hour. Coatings applied on the surface of high speed rails for interior and exterior protection from weather are called high speed rail coatings. These coatings also impart additional properties such as high yield strength for functional as well as aesthetic appeal. The global high speed rail coating market can be segmented on the basis of type into 1-K, 2-K, water-borne, and solvent-borne. They are used for various applications such as steel component coating, exterior protection, aesthetic finishes, interior aluminum coatings, and underframe coatings. High speed rail coatings are manufactured from a wide range of resins such as acrylics, epoxy, fluoropolymers, plastisols, polyester, and polyurethanes.
Global rise in demand for mass transportation can be attributed to the surge in investments in the expansion of railway networks across both developing and developed economies. High speed rails have the ability to cover long distances in very short time. Government initiatives to develop strong high-speed rail networks in various countries and make mass transits faster, safer, and efficient have opened up opportunities for the global high speed coatings market. However, a major restraining factor of the high speed rail coatings market are the growing environmental concerns pertaining to the volatile organic compounds content in coatings. Nevertheless, development of water borne type of coatings have aided the market significantly, as they emit very limited or no volatile organic compounds. Another challenge faced by the high speed rail coating market for the production of coatings is the volatile prices of raw material.
In terms of geography, the global high speed coating market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The significant development of trade and rapidly growing economies have contributed to the expansion of mass transportation. High speed rails have the ability to cover long distances in shorter time; hence, they are majorly being used for mass transportation, thus enhancing the high speed rail coating market. High speed rail coating market is expected to rise with the increasing high speed rail needs in developing countries like China and India for mass transportation and public transportation. Asia Pacific is expected to lead the market growth followed by Europe because of the rapid growth in mass trading operations. This high consumption is driven by rapid growth in infrastructure development and need for faster transportation at relatively cheaper rates. Developed nations like the U.S are in the process of expanding their high-speed rail networks, due to the increasing demand for mass transportation. Hence the high speed rail coating market is expected to grow in North America. Many countries have developed high speed rail to connect between countries such as Austria, Germany, Spain, and France, thus augmenting the high speed rail coating market. China has 19,000 km of high speed rail as of December 2015, accounting for two-thirds of the world's total and hence being the world’s largest consumer of high speed rail coating.
Some of the key players in the high speed rail coating market include Akzo Nobel N.V, BASF SE, PPG Industries, Inc., The Valspar Corporation, Axalta Coating Systems, LLC, PSG Limited, GLS Coatings Ltd, Zytexx, The Sherwin-Williams Company, Fosroc, Henkel, Hollysys, and Siemens.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.