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Corrosion Protection Coating Market Report 2023 - By Industry Trends, Growth Drivers, Opportunity Assessment And Key Players Analysis Till 2032
Corrosion Protection Coating Market
The Business Research Company's Corrosion Protection Coating Global Market Report 2023 identifies growing oil and gas industry as the major driver for the Corrosion Protection Coating market's growth in the forecast period. Economic growth is a significant factor influencing demand for oil and gas products. This rising demand for oil and gas increases demand for corrosion protection coatings that aid in protecting steel structures in the oil and gas and petrochemical industries from corrosion.
The global corrosion protection coating market size is expected to grow from $15.97 billion in 2022 to $17.00 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The corrosion protection coating market size is expected to grow to $21.47 billion in 2027 at a CAGR of 6.0%.
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Major competitors in the Corrosion Protection Coating market are Jotun, Hempel A/S, RPM International, AkzoNobel NV, The Sherwin-Williams Company, BASF SE.
A key trend in the Corrosion Protection Coating market includes technological innovations. Major companies operating in corrosion protection coatings are focused on providing innovative corrosion coating products to strengthen their market position. For instance, in June 2022, Hempel, a Denmark-based coating solution company, introduced a new fast-drying CUI coating, Hempaprime CUI 275. Hempaprime CUI 275 is a fast-drying, alkylamine-cured epoxy paint that increases productivity and improves corrosion protection at energy generation and oil and gas facilities by having extremely short overcoating intervals and broad temperature resistance.
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The Corrosion Protection Coating market is segmented -
• By Resin Type: Epoxy, Polyurethane, Zinc, Alkyd, Acrylic, Chlorinated Rubber, and Other Types
• By Technology: Water-based, Solvent-based, Powder-Based, and Other Technologies
• By End-Use Industries: Marine, Oil and Gas, Petrochemical, Infrastructure, Power Generation, Water Treatment, Other End-users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Corrosion Protection Coating market.
The Business Research Company's "Global Corrosion Protection Coating Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Corrosion Protection Coating Market Include:
1. Executive Summary
2. Corrosion Protection Coating Market Characteristics
3. Corrosion Protection Coating Market Trends And Strategies
4. Corrosion Protection Coating Market - Macro Economic Scenario
5. Corrosion Protection Coating Market Size And Growth
………………………………………………………….
26. Africa Corrosion Protection Coating Market
27. Corrosion Protection Coating Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Corrosion Protection Coating Market
29. Corrosion Protection Coating Market Future Outlook and Potential Analysis
30. Appendix
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