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Surface Protection Service: A Leading Driver Behind Renewable Energy Growth Propelling Surface Protection Services Market Expansion Market Expansion in 2025
Surface Protection Service
What Will the Surface Protection Service Industry Market Size Be by 2025?
The size of the surface protection service market has been rapidly expanding in recent years. It is projected to increase from $17.06 billion in 2024 to $20.26 billion in 2025, featuring a compound annual growth rate (CAGR) of 18.7%. The reasons for this substantial growth during the historic period include an increased understanding of asset protection, stringent safety and environmental rules, economic efficiency and profitability, the demand for high-quality goods from customers, and a growing acceptance in the automotive industry.
What's the Long-Term Growth Forecast for the Surface Protection Service Market Size Through 2029?
In the coming years, the market size of surface protection services is anticipated to experience an accelerated growth. By 2029, it will expand to $39.77 billion, with a compound annual growth rate (CAGR) of 18.4%. The growth in the projected period can be ascribed to factors such as escalating urbanization and industrialization, advancement in technology, expansion of the aerospace and defense industry, the end-use sector's upturn, and an increasing awareness regarding asset protection. Key trends to watch during the forecast period encompass technological innovation, the advent of eco-friendly technologies, specialization across various applications, automation and technological improvements, and increased investment in research and development activities.
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What Are the Key Growth Drivers Fueling the Surface Protection Service Market Expansion?
The growth of the surface protection services market is anticipated to be driven by the expansion of the renewable energy sector. The renewable energy sector comprises industries, technologies and services focused on the production, distribution and use of energy from renewable resources. The rise of this sector can be attributed to a heightened awareness and concern about climate change, advancements in battery technology and other energy storage solutions, as well as various subsidies, tax credits, and grants provided by governments. Surface protection services are pivotal to the renewable energy sector as they offer protective coatings and treatments for components such as solar panels, wind turbine blades, and hydroelectric equipment. For example, as per the Office for National Statistics, a UK government agency, the turnover for the UK low carbon and renewable energy economy (LCREE) saw a hike of 28.0% from £54.2 ($68.63) billion in 2021 to £69.4 ($87.88) billion in 2022. As a result, the burgeoning renewable energy sector is fueling the growth of the surface protection service market.
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What Are the Key Trends Driving Surface Protection Service Market Growth?
Leading businesses in the surface protection service market are introducing cutting-edge products, such as copper nozzles, to deliver unique material properties and functionalities in the thermal spraying process. These copper nozzles offer efficient surface defense with their traits of corrosion resistance, antimicrobial features, thermal conductivity, and visual attractiveness, making them ideal for various industrial uses. For instance, Hardide Coatings, an American firm specializing in advanced surface coating technology, launched the first product from its new line of Hardide-enhanced components in March 2024. This product, a 4-inch JP-5000 copper nozzle, is specifically designed for high-velocity oxy-fuel (HVOF) thermal spray coating. Utilizing this copper nozzle allows for the creation of robust, high-quality surface coatings on parts, demonstrating the effectiveness of copper in delivering surface protection services.
How Is the Surface Protection Service Market Segmented?
The surface protection service market covered in this report is segmented -
1) By Service Type: Corrosion Protection Coating, Mechanical Protection Coating, Electroplating, Thermal Spray, Other Service Types
2) By Application: Pipelines, Hydraulic Shafts And Cylinders, Process And Vessel Equipment, Other Applications
3) By End-User: Manufacturing, Oil And Gas, Mining, Power And Energy, Aerospace And Defense, Other End-Users
Subsegments:
1) By Corrosion Protection Coating: Epoxy Coatings, Polyurethane Coatings, Zinc-Rich Coatings, Alkyd Coatings
2) By Mechanical Protection Coating: Abrasion-Resistant Coatings, Impact-Resistant Coatings, Wear-Resistant Coatings
3) By Electroplating: Chrome Plating, Nickel Plating, Copper Plating, Zinc Plating
4) By Thermal Spray: Flame Spray, Plasma Spray, High-Velocity Oxy-Fuel Spray, Arc Spray
5) By Other Service Types: Powder Coating, Anodizing, Hot-Dip Galvanizing
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Which Companies Are Leading the Charge in Surface Protection Service Market Innovation?
Major companies operating in the surface protection service market are BASF SE, 3M Company, The Sherwin-Williams Company, PPG Industries Inc., DuPont, Akzo Nobel N.V., Sulzer Ltd., Oerlikon Management AG, SMS group GmbH, POLIFILM, Fisher Barton, TWI Ltd., Integrated Global Services Inc., T.F. Warren Group, Praxair Technology Inc., Plasma Technology Incorporated, ASB Industries, Spence Corrosion Services Ltd., A&A Thermal Spray Coatings, PARAGON PROTECTIVE COATINGS (PPC) LTD.
Which Regions Are Leading the Global Surface Protection Service Market in Revenue?
Asia-Pacific was the largest region in the surface protection services market in 2024. The regions covered in the surface protection service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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