The demand within the global high-speed rail coatings market is growing in lieu of advancements in metallic engineering. Scientists have discovered several new pathways for protecting metallic equipment, objects, and infrastructure. This trend has helped in reconciling the growth dynamics of the global high-speed rail coatings market. The expansive network of railways across several regional pockets has enabled market vendors to find new avenues for revenue generation. Furthermore, the unprecedented need for laying railway lines that can withstand all types of weather attacks has also driven market demand. Therefore, the total volume of revenues within the global high-speed rail coatings market is slated to multiply.
- Government and state authorities have, time and again, stipulated new standards for the railway sector. The guidelines extended by these entities revolve around increasing safety, resilience, and sustainability of railway operations. Therefore, use of high-speed railway coatings is expected to increase by a dramatic chase in the years to follow. Countries in Europe have an effective railway network characterized by safety and seamless control. Besides, India and China also host an extensive railway network that traces the lengths of breadths of the subcontinent. The aforementioned trends have been instrumental in driving sales across the global high-speed rail coatings market.
- The budget of the railway sector has increased by leaps and bounds over the past decade. As countries resolve to improve connectivity to remote areas, new railway lines are being developed in these countries. This budget is expected to trickle down to the global high-speed rail coatings market in the times to follow. Moreover, there is little contention about the inflow of fresh revenues from authorities involved in maintenance of repair of railway lines. Investments in new railway projects, coupled with availability of high-performance rail coatings, shall help market vendors in tracing a sustained growth pathway.
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.
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