Infrastructural Growth in Developing Regions Encourages Usage of High Performance Anti-Corrosion Coatings
View Report Preview:
“The top three leading players, Akzo Nobel N.V., Nippon Paint Co., Ltd., PPG Industries Inc., and The Sherwin-Williams Company, collectively held a more than half of the shares in the global high performance anti-corrosion coatings market in 2017,” says the lead author of this research report. To maintain a competitive edge in the overall market competitors are investing in result-oriented research and development activities and focusing on launching sustainable coating products.
global high performance anti corrosion coatings value
According to the research report, the opportunities in the global high performance anti-corrosion coatings market will be worth US$18.22 bn in 2023 as compared to US$13.64 bn in 2017. This translates to a CAGR of 5.0% between 2017 and 2023. The oil and gas industry will be the leading end user of high performance anti-corrosion coatings, accounting for 32.1% of the total share in the market in 2017. This end user segment will capture a share of 32.3% by the end of 2023. In terms of geography, Asia Pacific will dominate the global market at a positive CAGR of 5.0% during the forecast period.
Future of High Performance Anti-Corrosion Coatings Depends on Oil and Gas Drilling and Exploration Activities
The increasing oil and gas drilling and exploration activities in the recent past have been the indirect cause of the growing consumption of high performance anti-corrosion coatings. The rise of these activities have led to an urgent need for maintenance of the industry equipment, which has spurred the demand for protective coatings that improve the lifespan of metal surfaces and prevent it from corroding or getting damaged due to weathering and harsh climatic conditions. These coatings are increasingly being used on storage tanks, oil rigs, transmission pipelines, steel structures, and other oil vessels.
Infrastructural development such as the flourishing construction, transportation, and manufacturing industries and across the Asia Pacific region are propelling the usage of high performance anti-corrosion coatings market. This trend is predominantly seen in emerging economies of India, China, Vietnam, China, and Singapore.
Dependence of Crude Oil Hampers Performance of Anti-Corrosion Coatings Market
Volatile nature of petrochemical feedstock used for manufacturing high performance anti-corrosion coatings is acting as a spoiler, preventing the growth of this market. An inevitable usage of petrochemicals as aromatic compounds, solvents, fillers, and modifiers is expected to increase the dependency of vendors in this market on crude oil prices, thus hampering the market of exploiting the existing potential for growth in the near future.
Request to view Sample Report:
However, the booming power generation and utilities sector is anticipated to boost the demand for high performance anti-corrosion coatings in the forecast period. These coatings will be primarily used for preventing the machinery and maintaining energy-efficiency in operations. As several countries across the globe develop energy-efficient smart grids and transmission systems they will create ample of growth opportunities for the high performance anti-corrosion coatings market in the foreseeable future.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Infrastructural Growth in Developing Regions Encourages Usage of High Performance Anti-Corrosion Coatings here
News-ID: 1089116 • Views: 266
More Releases from Transparency Market Research
Coconut Oil Market- Positive Long-Term Growth Outlook till 2025
Coconut oil is extracted from dried or tender coconut kernels and is a tasteless and colorless oil. The coconut oil is available in two types based on the extraction- unrefined and refined or virgin oil. Unrefined oil is unbleached and unprocessed and is rarely used in consumption, while virgin oil is used in consumption. Obtain Report Details @ https://www.transparencymarketresearch.com/coconut-oil-market.html The coconut oil market has seen tremendous potential in the personal
Cassava Flour Market: Global Size, Trends, Competitive, Historical and Forecast …
Cassava flour is gaining worldwide recognition as an alternative for wheat flour and other gluten-based flours. It contains more calories in comparison to other flours. Cassava flour is considered as a rich source of starch, which is the main source for carbohydrates and dietary fibers. In the global flour market, the demand for cassava flour is high, owing to its very less content of gluten in comparison to other varieties
Tiger Nuts Market - Growth Prospect and Future Scenario by 2026
The growing demand for healthy, plant-based snacks among consumers has fuelled the growth of tiger nuts in recent years. Tiger nuts are naturally occurring tuberous rhizome of sedge grass known as cyperus esculentus lativum. Tiger nuts do not belong to the nut family, but they have a texture similar to wrinkled crunchy granules. Tiger nuts are natively cultivated and consumed in Egypt and Spain as a part of the Mediterranean
Understanding Impact of COVID-19 on Wound Closure Products Market
The global wound closure products market is a highly competitive market with a high number of global and local players operating in it around the world, states a new market research study by Transparency Market Research. The key players in the market are focusing on the expansion of the product portfolio and the innovations, which is expected to support the growth of the overall market in the next few years.
More Releases for Infrastructural
Global Roofing Market - Rampant Infrastructural Development to Provide Robust Gr …
The global roofing market is anticipated to grow at a significant rate owing to rise in construction activities all across the world, notices ResearchMoz.us in their report titled, Roofing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”. The 302-pages report offers a detailed analysis on the recent happenings in the market. Analysts of the report have provided various potential aspects banking on which the
Software Defined Data Center Market - Infrastructural changes and challenges 202 …
Global Software Defined Data Center Market: Snapshot The drive for software defined data center (SDDC) stems from the need to dynamically provision networking compute resources. The need is prominent in virtualized cloud infrastructure for securing cost optimizations and bolstering process efficiencies in managing a myriad hardware requirements. SDDC offers data storage facility for providing a kind of virtualized environment wherein the various infrastructural elements can be delivered as a service. The
Affective Computing Market Infrastructural Growth over 2025
Global Affective Computing Market: Snapshot The global affective computing market is envisioned to create high growth prospects on the back of the rising deployment of machine and human interaction technologies. With enabling technologies already making a mark with their adoption in a range of industry verticals, it could be said that the market has started to evolve. Facial feature extraction software collecting a handsome demand in the recent years is expected
Structural Health Monitoring Market - Surging Infrastructural Works Boost Demand
In order to steal a march over their competitors, success-hungry players in the global structural health monitoring market are seen expending money on product development. They are also resorting to mergers and acquisitions to grow their shares. This is making the market consolidated. Some of the prominent participants in the global structural health monitoring market are COWI A/S, Digitexx Data Systems, Inc., Wiss, Janney, Elstner Associates, Inc., ACELLENT TECHNOLOGIES, INC., National
Infrastructure Construction Market Outlook – Need for Infrastructural Developm …
Netscribes, Inc. launches a report on the Infrastructure Construction Market in India 2017 covering a market with strong growth potential. It is a part of Netscribes’ Manufacturing Industry Series. Mumbai, India – September 19, 2017 – Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Infrastructure Construction Market in India 2017’ https://www.researchonindia.com/infrastructure-construction-market-in-india-2021.html. The increasing level of migration to cities from rural areas is escalating the demand for urban
Infrastructural Investment By Government To Drive U.K. Hydraulic Manifold Market
The market report, titled, “Hydraulic Manifold Market in the UK 2016–2020,” delves into the existing market scenario and projects its growth trajectory. The research report estimates that the hydraulic manifold market in the UK will expand at an impressive CAGR of 10.42% during the period from 2016 and 2020. Hydraulic manifolds are an integral part of all sorts of hydraulic machinery and equipment. They regulate the flow of fluid between the pumps