Press release
Anti-corrosion Coatings Market Production, Revenue, Demand and Status Forecast 2021-2030
The anti-corrosion coating market observed a volumetric sale of 7,046.9 kilotons in 2019 and it is projected a hike up to 13,940.5 kilotons by 2030, witnessing a CAGR of 6.3% from 2019-2030.
The anti-corrosion coatings help protect the metal substrates from getting corroded due to extreme atmospheric conditions like humidity, moisture, saline water, oxidation, as well as exposure to a variety of aggressive chemicals. Anti-corrosion coatings ensure durability and efficiency of the equipment by providing continuous protecting layers to prevent it from corrosion and abrasion.
These coatings hold wide applications in aerospace & defense sector, building & construction sector, maritime industries, oil & gas industries, automotive & transportation sector, power generation industries and other industry verticals; as it offers superior structural strength, high heat resistance, protection against harmful UV radiations, lower coating costs as well as absolute ease-of-application.
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Top Companies: BASF SE, 3M Co., Wacker Chemie AG, AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, The Dow Chemical Company, Hempel A/S, Kansai Paints Co., Ltd, Nippon Paints Co. Ltd.
Market Dynamics and Trends
Global anti-corrosion coating market observes lucrative growth due to factors such as increasing government initiatives to improve public infrastructures, favorable regulatory standards for products with low Volatile Organic Compound (VOC), rising awareness about ecofriendly products, as well as augmentation in residential and commercial projects.
Besides, market trends such as modernization of infrastructure, increasing losses due to corrosion, and growing demand for anti-corrosion coatings in the end-use industries are expected to supplement the growth of global anti-corrosion coating market throughout the forecast period.
However, stringent environmental regulations towards use of several aggressive chemicals, limitations of epoxy anti-corrosion coating, fluctuations in the cost of crude-oil and high cost of raw materials may limit the growth of the global anti-corrosion coating market.
Moreover, growing use of anti-corrosion coating in solar and wind energy industry as well as increasing demand for high-efficiency anti-corrosion coatings, are anticipated in creating new opportunities for the anti-corrosion coating market growth in future.
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Market Segmentations and Scope of the Study:
The anti-corrosion coating market share analysis is based on technology, type, end user industry, and geography.
Based on technology, the market is segmented into solvent-borne, water-borne, powder coating, and UV-cured. Based on type, the market covers epoxy, acrylic, chlorinated rubber, alkyd, polyurethane, zinc, and others. Based on end user industry, the market is classified into aerospace & defense, industrial, marine, oil & gas, infrastructure, automotive & transportation, power generation, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
Asia-Pacific region is anticipated to grow with highest CAGR throughout the forecast period, owing to growing demand for anti-corrosion coating from the power generation industries, increasing demand for high-quality infrastructures, higher requirements for maintenance in automotive & transportation industries, as well as stringent government rules & regulations in this region. Moreover, factors such as easily accessible anti-corrosion solutions, lower labor costs and high shipping traffic in the region are fostering the maritime contribution of Asia-Pacific region, hence supplementing the growth of anti-corrosion coating market.
North America shows a significant growth accounting for second-largest market share. This is attributable to factors such as increasing government military investments, presence of the largest Naval base, as well as vehemently growing oil & gas sector in this region.
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Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
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