High-performance Anti-corrosion Coatings Market Product Development Survey 2027 | Akzo Nobel N.V., PPG Industries Inc.

The global high-performance anti-corrosion coatings market has grown significantly as a result of aspects such as increased application in marine, oil and gas, construction, tanks and pipes, power generation, and others. Chemical plants, pulp and paper mills, oil refineries, public utility installations, and other facilities generally use these coatings. High-performance anti-corrosion coatings are also used to safeguard ships, offshore oil drilling rigs and production platforms, and other marine-related structures. Some of the most important coating applications in the power generation industry are transition pieces, turbomachinery, and compressor blades. However, raw material price fluctuation and strict government regulations may stymie the expansion of the global high-performance anti-corrosion coatings market.

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Nonetheless, developed regions such as North America are expected to provide revenue-generation opportunities in high-performance anti-corrosion coatings market. This is due to growth in power generation sub-sectors such as wind, hydroelectric, solar, nuclear, shale gas, and thermal. The global high-performance anti-corrosion coatings market is expected to reach US$ 22.78 billion during the forecast period (2019 to 2027).

Epoxy Coatings to be Dominant Product Type
Based on the product, the global high-performance anti-corrosion coatings market is split into epoxy, urethane, and acrylic. The epoxy segment is expected to be the largest revenue generator in high-performance anti-corrosion coatings market. Epoxy coatings prevent substrates from corrosion induced by corrosive environments. These coatings offer a high level of stickiness and flexibility. As a result, they are considered valuable in a variety of end-user sectors. Epoxy coatings are now commonly utilized as high-performance anti-corrosion coatings all over the world.
Moreover, the acrylic segment is likely to witness growth during the forecast period. These coatings outperform other anti-corrosion coatings such as vinyl and alkyd in terms of mechanical and structural properties. Acrylic coatings are chemically inert and have a good color retention rate.

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Asia Pacific to Dominate Global Market
Asia Pacific is projected to dominate the global high-performance anti-corrosion coatings market due to the region's growing pharmaceutical and healthcare industries. Increasing infrastructure development in major Asian Pacific countries such as India, China, Indonesia, Singapore, Vietnam, and Malaysia are estimated to increase demand for high-performance anti-corrosion coatings in the region. In the construction business, high-performance anti-corrosion coatings are widely used. Such coatings have a broad array of applications in the infrastructure development business.
Moreover, the development of transportation infrastructure in Asia Pacific is expected to increase market demand. In the coming years, the strong usage of steel and metal in building roadways, bridges, highways, canals, railways, and airports is expected to present enormous potential prospects for the high-performance anti-corrosion coatings market. Furthermore, growth in the Asia Pacific marine industry is also expected to boost the market over the forecast period. Container ships, offshore and onshore vessels, cargo ships, submarines, and surface warships are just a few of the marine sector components that need protective coatings to last.
Additionally, improving trade linkages between Asia Pacific and other regions, particularly North America and Europe, are likely to improve bulk commodity transport in the coming years. This expanding trend of seaborne transport in Asia Pacific is expected to boost shipbuilding and repair activity in the coming years, mainly in Japan, China, and South Korea. Improved performance coatings would be required in the shipbuilding industry, particularly onshore boats and cargo ships. As a result, demand for high-performance anti-corrosion coatings in the Asia Pacific marine industry is expected to rise in the coming years.

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Market Players to Witness Intense Competition
The global high-performance anti-corrosion coatings market is characterized by intense competition among industry participants. The market is highly concentrated, with well-established firms accounting for a sizable market share. Due to their interconnected value chains, established firms are projected to compete fiercely during the forecast period.
Leading players in the high-performance anti-corrosion coatings market are Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd, PPG Industries Inc., Hempel A/S, Jotun A/S, and 3M.

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The global high-performance anti-corrosion coatings market is segmented as follows:

By Product

• Epoxy
• Urethane
• Acrylic
• Others

By Application

• Oil & gas
• Marine
• Construction
• Tanks & pipes
• Power generation
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

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