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4.9% CAGR to Register a Steady Expansion Surface Protection Services Market During 2017-2027

05-14-2018 01:42 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

4.9% CAGR to Register a Steady Expansion Surface Protection

Future Market Insights in an upcoming report titled ‘‘Surface Protection Services Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)’ has comprehensively studied the global surface protection services market. The surface protection services market is on track to record a modest CAGR of 4.9% from 2017 to 2027.

The corrosion protective coating systems hold the lion’s share in the surface protection services market and are expected to gain 30 BPS by the year 2027. Corrosion protective coating systems bond by way of a chemical reaction with the substrate and minimal surface oxidation is beneficial. Therefore, corrosion promoters such as humidity and oxygen are able to get behind the coating in a similar fashion to ordinary paints. Corrosive protective coating systems have a double layer protection for mild steel and are widely utilized as compared to other product types in the surface protection services market. The corrosion protective coating systems market is predicted to surge past US$ 6 billion by the end of the forecast period.

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The process vessels, equipment & rigs segment has a market share of approx. 45% of the surface protection services market in terms of application and is poised to gain significant share going forward. NACE estimates that the cost of corrosion protection as a result of constructing new ships is more than US$ 7 billion every year i.e. almost 10% of the vessel’s total cost. Annual repairs & maintenance cost on account of corrosion is approx. US$ 5.5 billion with an additional US$ 5 billion in downtime. For process vessels & equipment built with reduced scantlings, it is vital that coating systems be property maintained. All of this is likely to boost the need for surface protection services in process vessels, equipment & rigs.


The APEJ region is projected to gain a massive 200 BPS by the end of the decadal study and has gained 90 BPS from 2012 to 2017. Huge investments in China and India to fuel the demand for petroleum products are the major factors driving the APEJ surface protection services market. For e.g. – Indian Oil Corporation plans to double its refining capacity to 150 million tonnes by 2030 to cater to the explosive energy demand in the second most populous nation. IOC has also signed an agreement with BPCL and HPCL to build the world’s largest refinery at Ratnagiri in the state of Maharashtra at a cost of US$ 40 billion.

Companies profiled in the report are Shawcor, Corrosion and Abrasion Solutions Ltd., PPG Industries, Dampney Company, Delta T & Proptective Products, Blair Rubber Co., Integrated Protective Coating, Abtrex Industries Inc., Applied Rubber Linings Ltd., T.F. Warren Group, Viking Conveyor, Wasser Corporation, 3M, Moon Fabricating Corporation, Hajjan Trading & Industrial Services Company Ltd., Spence Corrosion Services Ltd., Hempel A/S, Aegion Corporation, and Carboline Company.

The surface protection services market is brutally competitive and small players often struggle to make their mark. Therefore, innovation is essential to gain a competitive edge and to take advantage of growth opportunities. Companies can look at coatings that are environmentally friendly and have low VOC content to thrive in the surface protection services market.

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About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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