Anti-corrosion Coating Market Share, Latest Innovative Growing Trends and Forecasts from 2020-2027

As per the new research report by Allied Market Research, Global Anti-Corrosion Coating Market size was $22.8 billion in 2019, and is expected to hit $41.2 billion by 2027, growing at a CAGR of 8.3% from 2020 to 2027. Anti-corrosion coatings are protective coatings applied to surfaces to prevent corrosion, which is the gradual deterioration of materials due to chemical reactions with the environment. These coatings form a barrier between the surface and corrosive elements such as moisture, chemicals, and atmospheric gases, thereby inhibiting or slowing down the corrosion process.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/1592

The industry is driven by factors such as increasing infrastructure development, the need to extend the service life of assets, stringent environmental regulations, and the growing awareness of the economic impact of corrosion. As industries strive to reduce maintenance costs and enhance the durability of their assets, the demand for effective anti-corrosion coatings continues to grow.

The report offers key drivers that propel the growth in the global anti-corrosion coating market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions. The global anti-corrosion coating market is segmented on the basis of type, technology, end-user industry, and region.

Based on type, the market is further divided into epoxy, polyurethane, acrylic, alkyd, zinc, chlorinated rubber, and others. The epoxy segment accounted for around two-fifths of the total share of the global anti-corrosion coating market in 2019. Whereas, the acrylic segment is expected to portray the largest CAGR of 9.4% from 2020 to 2027.

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Based on technology, the market is segmented on the basis of solvent-borne, waterborne, powder, and other anti-corrosion coatings. The solvent-borne segment accounted for the largest market share with more than three-fifths of the total share in 2019, and is estimated to maintain its lead position throughout the forecast period. Contrarily, the water-borne segment is expected to register the fastest CAGR of 9.5% from 2020 to 2027.

Based on region, Asia-Pacific accounted for the highest share, holding more than one-third of the total share in 2019, and is estimated to maintain its dominant share during the forecast period. Furthermore, the region is also anticipated to manifest the fastest CAGR of 8.7% from 2020 to 2027. The market also analyses regions including Europe, North America, and LAMEA.

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Increase in awareness about eco-friendly products, rise in investment across end-user industries, and superior performance of anti-corrosion powder coatings propel the growth of the global anti-corrosion coating market. However, limitations of epoxy anti-corrosion coating and government impede the market growth. On the other hand, increase in demand for anti-corrosion coating in the marine industry to improve efficiency and rise in applications of anti-corrosion coating in the solar and wind energy industry offer lucrative opportunities to the market players.

The key market players analyzed in the report involves BASF SE, NIPPON PAINT HOLDINGS CO. LTD, PPG Industries Inc., The Sherwin-Williams Company, AkzoNobel N.V, Hempel Holdings A/S, Kansai Paints Co. Ltd, The Dow Chemical Company, WackerChemie AG, and 3M.

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