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Corrosion Protection Rubber Linings and Coatings Market is expected at a CAGR of ~ 5.1 % & US$ 12,000 Mn during the forecast period 2017–2022

12-06-2021 08:56 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

/ PR Agency: Future Market Insights
Corrosion Protection Rubber Linings and Coatings Market

Corrosion Protection Rubber Linings and Coatings Market

According to a latest research by Future Market Insights (FMI), the global market for corrosion protection rubber linings and coatings will register a healthy expansion during the forecast period (2017-2022). The global corrosion protection rubber linings and coatings market is estimated to account for nearly US$ 12,000 Mn revenues by 2022-end.

Manufacturers focusing on Development of Highly-volatile Deterioration-resistant Materials

Shifting end-user preferences from solvent-borne solutions to water-borne solutions is a key trend being observed in the market currently. Manufacturers of corrosion protection products are increasingly focusing on safeguarding various end-use sector’s operational performance. These manufacturers are also taking steps to cater the imperative need of preventing exterior corrosion of industrial surfaces. In addition, the focus on development of highly-volatile deterioration-resistant materials is increasing on the back of growing inclination towards technologically-advanced corrosion coating.

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https://www.futuremarketinsights.com/reports/sample/rep-gb-5001

Industrial Facilities built from Carbon Steel at High Risk of Corrosion

Global leading manufacturers of corrosion protection rubber linings and coatings are making heavy investments in research and development activities, in a bid to develop new techniques for complete prevention of corrosion. Various industrial facilities, ranging from processing equipment, water treatment plants, oil & natural gas tank farms, to pipelines, are at huge risk of corrosion, especially the ones whose structures are made of carbon steel. This is mainly because carbon steel is highly prone to corrosion, which has resulted into production downtime, and repair & replacement activities.

Several proactive industries are therefore moving beyond traditional techniques that are only capable of slowing down the corrosion. The industries are further shifting towards adoption of novel techniques, which enable complete prevention from corrosion, thereby minimising cost, and production downtime needed to replace, repair, or recoat the corroded equipment or material. According to World Corrosion Organisation, over 3% of world’s GDP is spent on corrosion-related activities across the globe annually.

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Solvent-borne Form Type Segment to Account for over 40% Revenue Share of the Market

Projected to account for over 40% revenue share of the market during 2017 to 2022, solvent-borne segment by form type is expected to remain dominant in the global corrosion protection rubber linings and coatings market. In addition, water-borne segment is expected to witness a relatively faster expansion in sales through 2022. As solvents comprise of harmful chemicals, end-users are now preferring water-borne solutions over solvent-borne for corrosion protection.

Asia-Pacific Excluding Japan (APEJ) and North America will remain the largest markets for corrosion protection rubber linings and coatings. The markets in Japan, and Middle East & Africa (MEA) are also expected to witness a healthy expansion through 2022. In addition, the market in Europe is estimated to create an absolute $ opportunity of roughly US$ 560 Mn between 2017 and 2022.

Hard Rubber Lining Systems will Remain Preferred in the Market

Hard rubber lining systems are expected to remain preferred among products, with sales projected to account for nearly two-third revenue share of the market during 2017 to 2022. However, soft rubber lining systems’ sales are anticipated to reflect a comparatively higher CAGR than that of hard rubber lining systems through 2022.

Sales of corrosion protection rubber linings and coatings in marine, and construction end-use sectors are expected to collectively account for over one-third revenue share of the market in 2017. These end-use sectors will witness a rise in their market share through 2022. In addition, oil & gas is expected to remain the fastest growing end-use sector in the market, with sales poised to account for nearly US$ 2,000 Mn in revenues by 2022-end.

Key market players included in FMI’s report include The Sherwin Williams Company, STEULER – KCH GmbH, PPG Industries, Inc., Polycorp Limited, Koch Knight LLC, Jotun A/S, BASF SE, Axalta Coating Systems, Ashland Global Holdings, Inc., and Akzo Nobel NV.

Market Taxonomy

The report delivers a segmentation-wise forecast and analysis of the global corrosion protection rubber linings and coatings market. Each segment of the market is analysed discretely, with the provision of country-wise forecast and cross-sectional data. The market has been categorised on the basis of form type, product type, end-use, and region.

Region

North America
Latin America
Europe
Japan
APEJ
MEA

Product Type

Hard Rubber Lining Systems
Soft Rubber Lining Systems

End Use

Marine
Oil and Gas
Power Generation
Construction
Automotive
Transportation
Chemicals
Mining & Metallurgy
Others

Form Type

Solvent-borne
Waterborne
Powder-based
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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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