The [FURL=https://www.industryarc.com/Research/High-speed-Rail-Coatings-Market-Research-503253]High-speed Rail Coatings Market[/FURL] size is forecast to reach around $8 billion by 2025, after growing at a CAGR of 5.5% during 2020-2025. The growing high-speed rail track construction and train manufacturing projects worldwide drives the growth of global High-speed Rail Coatings market size during the forecast period. For instance, BASF SE, committed its support to build 30,000 km of high-speed rail lines by 2020 in China. Furthermore, the growth of transportation and infrastructural activities in developed and developing economies are contributing to the increase in demand for High-speed Rail Coatings.Key Takeaways
Among the regions, in 2019, the Asia-Pacific dominates the High-speed Rail Coatings market owing to growing transportation, increasing urbanizations, and developing rail infrastructure across the region.
In North America region, the US dominates the High-speed Rail Coatings market in 2019 and is projected to hold the largest share during the forecast period. Besides, in RoW, the Africa region is projected to witness a higher growth during the forecast period owing to the growing high-speed rail infrastructure across the region.
The high investment cost required for high-speed rails than the traditional rails and presence of volatile materials in coatings are restraining the growth of high-speed rail coatings market size during the forecast period.
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Geography - Segment Analysis
In 2019, APAC dominated the High-speed Rail Coatings market with a share of more than 35%, followed by North America and Europe. The presence of emerging countries with large customer base like Chin and India, availability of low cost labors, flourishing manufacturing sector, and growing high-speed rail construction projects in China, Japan, and India are contributing to the growth of high-speed rail coating share in APAC region during the study period. Additionally, the growing trend of decorative Coatings and functional Coatings in railways is also driving the market growth.
Drivers – High-speed Rail Coatings Market
Growing high-speed rail constructions worldwide
Implementation of Stringent Environment Regulations
Market Landscape: Technology launches, acquisitions and R&D activities are key strategies adopted by players in the High-speed Rail Coatings market report. Major players in the High-speed Rail Coatings Market industry outlook are Akzo Nobel N.V, BASF SE, PSG Limited, GLS Coatings Ltd, Zytexx, The Sherwin-Williams Company, Fosroc, Henkel, Hollysys, PPG Industries, Inc., The Valspar Corporation, Axalta Coating Systems, LLC, and Siemens.
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