Corrosion Protective Coatings and Acid Proof Lining Market to Incur High Value Growth at 5.7% CAGR During 2016-2026
In addition to the eminent need for protecting industrial surfaces against exterior erosion, the increasing focus on safeguarding the operational performance in South African end-use industries is considered to be a major driver for the growth of the region’s corrosion protection coatings and acid proof linings market. The growing automation in the manufacturing of automobiles and chemicals has resulted in the demand for enhanced coatings that provide a permanent solution to mechanical as well as chemical corrosion. On the other hand, the growth of the South Africa corrosion protection coatings and acid proof linings market is curbed due to the recent downfall of the region’s mining and quarrying industry, which has been recognised to be the foremost end-user industry for corrosion protection coatings and acid proof linings.
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By product-type, polymer coatings are expected to witness robust growth, with total revenues expected to reach US$ 227.6 Mn in 2016. Moreover, the demand for waterborne polymer coatings is expected to surpass the demand for solvent-based coatings owing to growing VOC emission regulations.
Based on the end-users, the oil & gas industries and the chemical manufacturers in South Africa are expected to register impressive growth in 2016. Due to the decline in mining sector, the end-user consumption of corrosion protection coatings and acid proof linings in metallurgy industries will endure a noticeable decline. Further, the automotive and construction segment will continue to increase its market share to 17.7% by the end of 2016.
The change in manufacturing paradigm of corrosion protection coatings and acid proof linings will exhibit the growth in production of eco-friendly coating materials, inciting the consumption of such coatings among several end-users. Key manufacturers include, BASF SE, The Weir Group PLC, Ferro South Africa (Pty) Ltd., and SGS South Africa (Pty) Ltd., among others. PUMBA LININGS, J&J Rubber Linings (Pty) Ltd. and Thermalloy (Pty) Ltd., are among the leading service providers, whereas The Dow Chemical Company, Ashland Inc., and AMPA Plastics represent the raw material suppliers for corrosion protection coatings and acid proof linings in South Africa.
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Long-term Outlook: In terms of market value, the South Africa corrosion protection coatings and acid proof linings market will expand at a CAGR of 5.7% during the forecast period 2016-2026.
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