Anti-corrosion Coating Market Presents Lucrative Opportunities for Key Stakeholders | Global Industry Size Worth $54.4 billion by 2033

Allied Market Research published a report, titled, "Anti-corrosion Coating Market by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, Chlorinated Rubber, and Others), Technology (Solvent-Borne, Waterborne, Powder Coating, and Others), and End-Use Industry (Marine, Oil and Gas, Industrial, Construction, Energy, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the anti-corrosion coating market was valued at $32.6 billion in 2023, and is estimated to reach $54.4 billion by 2033, growing at a CAGR of 5.4% from 2024 to 2033.

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Prime determinants of growth

The global anti-corrosion coating market is experiencing growth due to several factors such as increase in demand for infrastructure development and surge in focus on sustainable coatings. However, VOC emissions and environmental impact hinder market growth. Moreover, technological advancements in coating formulations present additional opportunities for anti-corrosion coating. Advancements in environmentally friendly formulations create new market opportunities, especially as industries face growing pressure to reduce their environmental footprint. Water-based coatings, low-VOC solutions, and bio-based materials are increasingly replacing traditional solvent-based formulations, addressing both regulatory pressures and the rising demand for sustainable products. These innovations allow industries such as construction, automotive, and marine to meet stricter environmental standards while still providing reliable corrosion protection.

The epoxy segment to maintain its dominance by 2033

By type, the epoxy segment held the highest market share in 2023, accounting for less than two-fifths of the global anti-corrosion coating market revenue and is estimated to maintain its leadership status throughout the forecast period. The growing emphasis on infrastructure development and maintenance drives the demand for epoxy-based anti-corrosion coatings. As many countries prioritize infrastructure upgrades, particularly in developing economies, the need for durable, long-lasting coatings for bridges, highways, and industrial facilities has surged. Moreover, epoxy coatings are also recognized for their cost-effectiveness, providing long-term corrosion protection and reducing the need for frequent maintenance and repairs that make them a preferable choice for public and private sector projects.

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The solvent-borne segment is expected to dominate by 2033

By technology, the solvent-borne segment held the highest market share in 2023, accounting for more than half of the global anti-corrosion coating market revenue and is estimated to dominate during the forecast period. Solvent-borne coatings contain higher levels of resins, binders, and additives that provide enhanced protection against chemicals, abrasion, and mechanical impact. This makes them especially effective in environments where surfaces are exposed to aggressive chemicals or require a highly durable protective barrier. Industries such as petroleum refining, chemical processing, and industrial manufacturing rely heavily on solvent-borne coatings to extend the life span of their equipment and structures, preventing costly corrosion-related failures.

The marine segment is expected to maintain its dominance by 2033

By end-use industry, the marine segment held the highest market share in 2023, accounting for less than one-fourth of the global anti-corrosion coating market revenue and is estimated to maintain its leadership status throughout the forecast period. Increase in demand for offshore energy infrastructure such as offshore oil rigs, wind farms, and platforms drives the demand for the anti-corrosive coating. These structures operate in highly corrosive marine environments and require advanced anti-corrosion coatings that withstand extreme temperatures, constant moisture, salt exposure, and UV radiation. Ensuring the structural integrity of these assets is vital for energy production and safety, making robust and long-lasting coatings indispensable.

Asia-Pacific is expected to grow faster throughout the forecast period

By region, Asia-Pacific was the fastest growing region in terms of revenue in 2023 representing 5.6% of the CAGR. Asia-Pacific region is a global hub for automotive production, with countries such as China, Japan, South Korea, and India leading in vehicle manufacturing. Automotive manufacturers demand anti-corrosion coatings to protect critical vehicle components, enhance aesthetic appeal, and meet durability standards. This trend is supported by rising consumer expectations for high-quality and long-lasting automotive finishes, which boosts demand for specialized anti-corrosion solutions. Moreover, rising awareness about the cost-effectiveness and long-term benefits of using anti-corrosion coatings is driving adoption across various sectors such as construction, marine, energy, and others. Anti-corrosion coatings extend the lifespan of assets, reduce the frequency of repairs and replacements, and lower overall maintenance costs. Industries are increasingly recognizing the value proposition offered by these coatings, leading to a higher adoption rate across both traditional and emerging sectors.

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Leading Market Players: -

AkzoNobel N.V.
PPG Industries, Inc.
Sherwin-Williams Company
BASF SE
Nippon Paint Holdings Co., Ltd.
Hempel A/S
Axalta Powder Coating Systems GmbH
Kansai Paint Co., Ltd.
Sika AG
3M

The report provides a detailed analysis of these key players in the global anti-corrosion coating market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario

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