Anti-Corrosion Coatings Market Trends by Key Players: Akzonobel, Ashland, Axalta Coating, BASF, Hempel, Jotun, RPM International, Kansai Paints, PPG Industries and The Sherwin-Williams Company
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Global construction industry will reach USD 16 trillion by 2025, with CAGR more than 7%. This portrays future requirement for new infrastructure as well as the maintenance of present constructions. The industry is subjected to consistent technological innovation and exhibits rising demand for metal-based structures like prefabricated washrooms and walls. Anti-corrosion coatings market will be significantly driven by construction and architectural applications, for their capabilities to deliver structural strength and value added aesthetic appearance to the structure.
Robust growth in the oil & gas industry will further drive the market growth in the near future. The global oil & gas equipment market is projected to reach USD 278 billion by 2025. Also, the rising demand for energy production based on oil sands, oil shale, tar sands and shale gas will further propel the market.
The market is probable to witness certain growth restraints such as significant price volatility of petrochemical feedstock and severe environmental regulations which may undesirably influence anti-corrosion coatings market share in the near future. Also, stringent legislations towards (VOC) Volatile Organic Compounds ingredients used in the coatings applications such as toluene, ethylene, benzene and naphthalene might negatively affect the market growth. However, increasing demand and favorable government legislations for water based anti-corrosive coatings will generate new growth prospects.
Epoxy anti corrosion coatings are likely to grow with 4.5% over the forecast timeframe, holding the largest market share. The demand is attributed to the product features such as corrosion resistance, superior abrasion, higher bonding strength with concrete & steel. Polyurethane anti-corrosion coatings will also witness significant growth trends owing to their compatibility with wide temperature range up to 1100°C.
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Partial Chapter of the Table of Content
Chapter 1 Methodology and Scope
1.1. Research methodology
1.1.1. Initial data exploration
1.1.2. Statistical modeling and forecast
1.1.3. Industry insights and validation
1.1.4. Research scope & assumptions
1.2. Data sources
Chapter 2. Executive Summary
2.1. Anti-corrosion coatings industry 3600 synopsis, 2010 – 2025
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Mode of application trends
2.1.4. End use trends
Chapter 3. Anti-Corrosion Coatings Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2010 - 2025
3.3. Industry ecosystem analysis
3.4. Industry Impact forces
3.4.1. Growth drivers
126.96.36.199. Growing energy sector
188.8.131.52. Rise in commercial and military shipbuilding and maintenance activities in Asia Pacific
184.108.40.206. Increasing need for new infrastructure and maintenance of existing construction spaces along with growing demand for metal based structures
3.4.2. Industry pitfalls & challenges
220.127.116.11. Fairly high price volatility of petrochemical feedstock
18.104.22.168. Stringent environmental regulations associated with anti-corrosion coatings
3.5. Growth potential analysis
3.6. Porter's analysis
3.7 Company market share analysis, 2015
3.8. PESTEL analysis
3.9 Pricing trends
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Asia Pacific region is expected to witness CAGR over 5% in the forecast period. The growth was mainly driven by the thriving regional construction industry, easy accessibility to workable anti-corrosion solutions and regional lower labor costs. The rising military and commercial shipbuilding activities in the in the region will also propel the market growth. The U.S. market share is likely to grow with gains over 4.5% by 2025.The regional growth will be driven by growing government military investment. Budding oil & gas sector in the region will further propel the market growth
Major industry participants include BASF, Akzonobel, Hempel, Ashland, Jotun, Axalta Coating, Kansai Paints, The Sherwin-Williams Company, RPM International, PPG Industries and. Other prominent industry share contributors are Nippon Paints, Chugoku Marine Paints, Tnemec, Sokema, Valspar, AnCatt and AICA Kogyo.
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