Press release
Global Anti-Corrosion Coatings Market to Reach USD 52.0 Billion by 2033, Driven by Infrastructure Growth and Demand for Eco-Friendly Solutions
Anti Corrosion Coatings Market
Anti-corrosion coatings are becoming increasingly essential across various sectors, including construction, automotive, oil & gas, and marine, as industries aim to protect their infrastructure and equipment from rust, moisture, salt, and chemicals. These coatings are critical in reducing repair costs and extending the lifespan of industrial assets.
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Key Drivers of Growth
One of the main growth drivers is the rising awareness of microbial induced corrosion (MIC), particularly in water infrastructure. This, along with the strict performance standards for coatings used in offshore energy units such as Floating Production Storage and Offloading (FPSOs) and Floating Liquefied Natural Gas (FLNGs), is accelerating the demand for advanced anti-corrosion solutions.
Additionally, there is a growing shift towards environmentally friendly coatings. Traditional coatings, often containing lead and harmful volatile organic compounds (VOCs), are being replaced with low-VOC and solvent-free alternatives in response to tightening global regulations. These sustainable products are gaining popularity among industries and consumers aiming to minimize their environmental footprint.
A recent report by the World Bank highlighted a surge in infrastructure investment in low and middle-income countries, with private sector participation reaching USD 91.7 billion in 2023 - a 23% increase from 2021. This trend is expected to boost demand for durable coatings in long-term infrastructure projects.
Industry Demand Across Sectors
Anti-corrosion coatings are in high demand in the construction sector, where infrastructure like bridges, pipelines, and buildings require long-term protection. Similarly, the automotive industry relies on these coatings to enhance vehicle durability and reduce maintenance costs. The oil and gas sector, especially offshore operations, depends on high-performance coatings to ensure safety and efficiency in extreme environments.
According to the Global Infrastructure Hub, global infrastructure investments are expected to hit USD 2.9 trillion by the end of 2024, with large-scale developments like the expansion of London Stansted Airport highlighting this growth. These investments further fuel the need for effective corrosion protection.
Challenges in the Market
Despite the growing demand, the market faces challenges due to the complex and expensive surface preparation required before applying these coatings. Especially in harsh environments like offshore platforms and manufacturing plants, proper surface cleaning and treatment are critical to ensure coating effectiveness. Inadequate preparation can lead to coating failure, increasing maintenance costs and reducing equipment life.
Product Insights: Epoxy and Polyurethane Lead the Market
Among coating types, epoxy-based coatings are currently leading the market due to their strong adhesion and excellent resistance to moisture, chemicals, and abrasion. Epoxy is widely used in construction, marine, and oil and gas applications due to its reliability and cost-effectiveness.
Polyurethane coatings, however, are the fastest-growing segment. They offer superior flexibility, UV resistance, and durability, making them ideal for outdoor and high-traffic applications, including in the automotive and marine industries. These coatings also retain their appearance over time, maintaining color and gloss even under harsh weather and pollution exposure.
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Anti Corrosion Coatings Market Top Companies and Competitive Landscape
The Anti-Corrosion Coatings Market is highly competitive, with key players focusing on innovation, product diversification, and strategic collaborations to strengthen their market position. Key companies profiled PPG Industries Inc., Azkonobel N.V, The Sherwin-Williams Company, Jotun, Kansai Paint Co. Ltd., Axalata Coating Systems Ltd., BASF SE, Hempel A/S, RPM International Inc., Nippon Paint Holdings Co. Ltd.
Anti Corrosion Coatings Market Latest Industry Updates
In June 2022, Hempel launched a novel CUI coating known for its fast-drying properties and effectiveness in combating corrosion under insulation. This coating offers corrosion protection and enhances productivity in oil and gas and energy generation facilities.
In September 2022, Hempel launched a new protective coating Hempablade Edge 171, for leading-edge protection (LEP) on wind turbine rotor blades. The product has the highest rain erosion performance data for a liquid LEP, and some of the lowest dry film thicknesses provide long-term protection against rain erosion and reduce time and costs during application.
Anti Corrosion Coatings Market Market Segmentation Analysis
Type Outlook (Revenue, USD Billion, 2021-2033)
Epoxy
Polyurethane
Acrylic
Alkyd
Zinc
Chlorinated Rubber
Others
Technology Outlook (Revenue, USD Billion, 2021-2033)
Solvent borne
Waterborne
Powder-based coating
Others
End-use Industry Outlook (Revenue, USD Billion, 2021-2033)
Marine
Oil & Gas
Industrial
Infrastructure
Power Generation
Automotive & Transportation
Others
Regional Outlook (Revenue, USD Billion, 2021-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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