Anti-Corrosion Coating Market worth $43.3 billion by 2028 | Key players PPG Industries, Inc. (US), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), Jotun A/S (Norway).

According to recent market research the "Anti-Corrosion Coating Market by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc), Technology (Solvent borne, Waterborne, Powder-based), End-Use Industry (Marine, Oil & Gas, Industrial, Infrastructure, Power Generation), & Region - Global Forecast to 2028", is growing at a high rate due to the increased demand from various sectors. The global anti-corrosion coating market size was USD 34.8 billion in 2022 and is projected to reach USD 43.3 billion by 2028, at a CAGR of 3.6% between 2023 and 2028. The Asia Pacific accounted for the major share of the overall market in 2022. Heavy investment in sectors including automotive & transportation, infrastructure, power generation, and industrial is credited with contributing to economic development in Asia Pacific. The most potential market is currently in the Asia Pacific region, and this is likely to continue. Furthermore, to take advantage of the cheap labour and meet local market demand, multinational corporations are moving their production plants to Asia Pacific.

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Epoxy is widely used in anti-corrosion coating because of its excellent adhesion, corrosion protection, and chemical resistance properties. It is also easy to process, has a low shrinkage point, and is adhesive to a wide array of substrates. Epoxy's versatile formulation property leads to its wide application in adhesives, laminates, and composites along with anti-corrosion coatings. Shipbuilding and repair in the marine sector are the major applications of epoxy anti-corrosion coating. Infrastructure, oil & gas, and automotive are the other significant end-use industries of epoxy anti-corrosion coating. Epoxies have longer cure time depending on the solid content. However, their extended range of properties makes them the preferred coating for critical applications such as fuel cell, gas turbine engines, and heat exchangers.

The solvent borne technology is the largest segment in the overall anti-corrosion coating market. Due to end-use industries including the automotive, infrastructure, and marine have a growing demand for it, the dominance is anticipated to last. Most traditional coatings are solvent borne and comprise roughly 25% solids in addition to a significant number of organic solvents. The VOC, smell, and flammability of this technology are released. The block resistance feature is fantastic though.

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The Asia Pacific is the largest anti-corrosion coating market, in terms of both, value and volume, and is projected to be the fastest-growing market during the forecast period. Asia Pacific was driven by the economic growth, which was followed by significant investment in a variety of sectors, including infrastructure, automotive & transportation, industrial, and power generation. The market in Asia Pacific is now the most promising and is anticipated to remain so in the foreseeable future. As a result of the low cost of labor and to meet local market demand, international manufacturers are also moving their production facilities to Asia Pacific.

The key companies profiled in this report are PPG Industries, Inc. (US), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), Jotun A/S (Norway), Kansai Paints Co., Ltd. (Japan).

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PPG Industries, Inc. manufactures and distributes coatings, paints, optical products, and specialty materials. The company operates in two segments, namely, performance coatings, and industrial coatings. The company offers anti-corrosion coatings through the Performance Coatings segment. It also provides industrial and automotive coatings to the manufacturing industries; adhesives and sealants to the automotive industry; metal pretreatments and related chemicals for the industrial & automotive applications; and packaging coatings to aerosol and food & beverage container manufacturers. In addition, the company offers architectural coatings used by painting and maintenance contractors and by consumers to decorate and maintain residential and commercial building structures. PPG Industries Inc. has a strong customer base and operates in many countries in Europe, North America, Asia-Pacific, the Middle East & Africa, and South America. The company has 156 manufacturing facilities, globally.

AkzoNobel N.V. is a leading manufacturer of decorative paints and industrial coatings, globally. The company operates its business through two segments, namely, Decorative Coatings and Performance Coatings. It offers anti-corrosion coating through both the segments. AkzoNobel N.V. has a strong customer base and operates in countries in Europe, North America, Asia Pacific, South America, and the Middle East. The company has over 28 manufacturing facilities and sales activities in more than 150 countries across the globe. It has a wide product portfolio which includes brands such as Dulux, Sikkens, Butanox, Elotex, International, and Interpon.

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