According to a recent market study published by Growth Market Reports titled, “Global Rail Coatings Market by Resin Type, Technology, Application, Railway Type, Energy Source, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 1,059.5 million in 2019 and is expected to expand at a CAGR of 3.3% by the year 2027. The global rail coatings market is anticipated to grow significantly during forecast period. Increasing preference for high-speed rail transportation with proper facilities and improving infrastructure across developing countries are propelling the growth of the rail coatings market.

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The global Rail Coatings market is segmented based on resin type, technology, application, railway type, energy source, and region. Based on resin type, the global rail coatings market is segmented into acrylic, epoxy, polyurethane, plastisols, polyester, fluoropolymers, and others. On the basis of technology, the global rail coatings market is segmented as water-based and solvent-based. In terms of application, the global rail coatings market is segmented into freight rolling stock, passenger rolling stock, locomotive rolling stock and rolling coat 'below the solebar'. Based on railway type, the global rail coatings market is segmented into public transport rail and goods transport rail. Based on energy source, the global rail coatings market is segmented into steam, diesel, electric, and others.

Based on region, the global rail coatings market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Europe is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, Asia Pacific is further segmented into China, South Korea, Japan, India, Australia, South East Asia (SEA), and Rest of Asia Pacific. Latin America is further segmented into Brazil, Mexico, and Rest of Latin America. Middle East & Africa is categorized into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa.

COVID-19 had a negative impact on the overall market. Stringent rules and restrictions during COVID halted the operations of paints and coatings industry. Hence, the demand for rail coatings reduced in 2020. Governments are playing an important role in the manufacturing industry and have set certain standards for workplaces in manufacturing units with regard to the health of the workers and the environmental impact of the market.

Rules vary from country to country across the globe. Regulatory policies are expected to play a pivotal role in shaping the dynamics of the rail coatings market during the forecast period. Increasing efforts by governments and private sector companies to overcome the crisis and rising production capacity in each industry are expected to propel the market, post 2020. Governments of several countries across the globe are expected to pursue fiscal stimulus programs or other incentives in the course of the pandemic. These programs provide substantial tax benefits for companies. Conversely, this policy is expected to increase the demand for rail coatings at a rapid pace, due to rising product demand in rolling stocks (post 2020).

As per Growth Market Reports’ industry analyst Partha Paul, “The Global Rail Coatings Market is anticipated to witness significant growth during the forecast period 2020-2027 driven by the high demand for rail coatings from various end-user industries. Increasing business relations between countries is expected to boost the demand for good transport rails, thus propelling the adoption of rail coatings. Moreover, growth of various industries such as automotive, construction, and mining industries boosts the need for goods transport rail thereby, driving the demand for these coatings.”

Key Takeaways from the Study

  • The companies such as RPM international Inc, PPG Industries Inc., and The Sherwin Williams Company, held approximately one third of the share of global rail coatings market in 2019.
  • Asia Pacific accounts for a major share of the market, followed by Europe. The market in Asia Pacific is projected to expand at the highest CAGR during the forecast period.
  • In North America, the US held the largest market share in 2019 and is expected to continue is dominance during the forecast period, 2020-2027.
  • Water-based segment is largest in technology; the large share of the water-based segment is attributed to factors such as increasing preference for water-based coatings. For instance, a Germany railway company called The Deutsche Bahn AG has been using waterborne coating products to paint railway vehicles for more than 20 years. These factors drive the rail coatings market.

Report Scope

Report Metric

Details

Market Value in 2019

USD 1,059.5 Million

Market Growth Rate (from 2020 to 2027)

3.3%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 - 2027

Units Considered

Value (USD Million)

Market Segments

Resin Type, Technology, Application, Railway Type, Energy Source

Regional Scope

North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA)

Country Scope

U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, Japan, India, Australia, South Korea, South East Asia, Brazil, Mexico, Saudi Arabia, South Africa, UAE

Key Companies Profiled

Axalta Coating Systems, RPM International Inc., BASF SE, PPG Industries, Inc., Jotun, GLS Coatings Ltd., Zytexx, Henkel Adhesives Technologies, The Sherwin-Williams Company, Voestalpine AG, Fosroc, Teknos US, Inc., AkzoNobel, Lankwitzer, Williamson T & R, WEILBURGER Coatings GmbH, Nippon Paint Company Limited, Williams Hayward Protective Coatings Inc., Mäder Group SA, Kansai, Paint Co. Ltd, Hempel

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

 

Target Audience

  • Supply-side: Rail Coatings manufacturers, raw material providers, primary respondents, and distributors.
  • Demand Side: Companies operating in the rolling stock industry
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: Association of American Railroads (AAR), Railway Association of Southern California, Railway Association of Canada (RAC), Australasian Railway Association (ARA), National Model Railroad Association, Environmental Protection Agency (EPA), and the International Organization for Standardization (ISO)