Anti-Corrosion Coating Market Targets to reach $26,627 Million with a CAGR of 9.7% by 2022

An anti-corrosion coating protects the metal substrate from humidity, moisture, salt water, oxidation, and exposure to a variety of environmental or industrial chemicals.

Global anti-corrosion coating market was valued at $14,276 million in 2015, and is expected to grow at a CAGR of 9.7% to reach $ 26,627 million by 2022.

The global anti-corrosion coating market is segmented based on type, technology, end-user industry, and geography.

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By type, the market is divided into epoxy, polyurethane, acrylic, alkyd, zinc, chlorinated rubber, and others (silicates, fluorocarbons, co-polymers, graphene, ceramic, and glass flakes). Technology-based classification includes solvent-borne, waterborne, powder, and other anti-corrosion coatings.

By end-user industry, the market is classified into marine, oil & gas, industrial, construction, energy, automotive, and others. The energy segment is further subsegmented into power plants, solar energy, and wind turbines. The epoxy anti-corrosion coating segment generated the highest revenue in 2015, accounting for 45.1% share, owing to its characteristics such as high corrosion resistance, water resistance, adhesiveness to steel, and compatibility with other coating materials.

Solvent-borne anti-corrosion coating segment was the largest revenue generator in 2015, as these coatings are widely used in several applications. However, it is expected to witness a downturn due to the stringent regulations imposed by government bodies such as Environmental Protection Agency (EPA) of U.S. and Registration Evaluation Authorization and Restriction of Chemicals (REACH) of Europe. Waterborne and powder anti-corrosion coatings are gaining popularity owing as they possess low levels of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs).

Asia-Pacific accounted for the largest market share in 2015, and is projected to grow at the highest CAGR, owing to high economic growth, which is expected to boost the ongoing urbanization. Rise in investments in marine, construction, automotive, and energy industries in India and China, owing to shift in the industry trends, is projected to drive the anti-corrosion coating market.

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Key findings of the Anti-Corrosion Coating Market :

• Asia-Pacific is the leading consumer of anti-corrosion coatings, accounting for approximately more than one-third share of the global market, followed by North America.
• The acrylic anti-corrosion coating type is expected to witness the highest CAGR of 10.4%.
• Solvent-borne anti-corrosion coating segment accounted for more than three-fifths of the global anti-corrosion coating market in 2015.
• China is the leading market in the Asia-Pacific region, growing at a CAGR 10.4%.
• The marine end-user segment occupied the highest share in 2015, and is expected to grow at a CAGR of 9.9%, in terms of value, during the forecast period.

The prominent players profiled in this report include 3M Co., Akzo Nobel N.V., BASF SE, Hempel A/S, Kansai Paints Co., Ltd, Nippon Paints Co. Ltd., PPG Industries, Inc., The Sherwin-Williams Company, The Dow Chemical Company, and Wacker Chemie AG.

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