South Africa corrosion protection coatings and acid proof linings market will expand at a CAGR of 5.7% during the forecast period 2016-2026

Introduction

As per International Union of Pure and Applied Chemistry (IUPAC) “Corrosion is an irreversible interfacial of material (polymer, ceramic and metal) with its environment resulting in consumption of the material or in dissolution into the material of a component of the environment.” Corrosion protection is a major concern for various end-use industries across the globe and significant methods have been incorporated over the time to prevent and as well as treat corrosion. Protective coatings are highly preferred for preventing equipment against corrosion. The mechanism of corrosion protective coatings can be generally differentiated into creation of barrier between the environment and the substrate material, inhibition of the corrosion processes and coating acting as a sacrificial material. The corrosion protective coatings in general are available as waterborne, solvent borne and powder coatings.

Acid proof lining are coatings that protect concrete, plastic piping, fiber glass and steel structures against strong acids, solvents and alkalis. Acid proof lining also provides protection against mechanical abuse and elevated temperatures. They are employed in several of end-use industries wherein the floors, walls and equipment constantly exposed to strong chemicals and acids. Acid proof lining benefits the EPCMs working in these industries by saving on long-term maintenance costs.

South Africa corrosion protective coatings and acid proof linings market is anticipated to register healthy CAGR of 4.1% in terms of volume and 5.7% in terms of value over the forecast period (2016–2026). Growth of market is attributed to various factors, regarding which FMI offers detailed insights in the report.

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Drivers, Restraints and Trends

Growth of market in South Africa is influenced by several factors, primarily increasing infrastructural expenditure in public sector and robust performance of automotive sector, despite recent downturns in economic growth. These factors are anticipated to result significant upsurge in consumption of corrosion protective coatings and acid proof linings. Further, implementation of stringent emissions regulations worldwide and increasing demand for high performance coatings across various industries is influencing development of environmental-friendly coating technologies such as the waterborne and powder-based technologies that lead to low VOC emission, this is expected to drive future growth of the market.

Mining and quarrying industry account for significant/dominant share in South Africa economic output and is a major end user of corrosion protection coatings and acid proof lining. However, in the recent past, the mining industry has failed to perform well and is still declining, leading to slow down of South Africa’s economy. This factor is anticipated to adversely affect the consumption pattern of corrosion protective coatings and acid proof linings in the country. Moreover, increasing raw material costs is also a challenge for growth of the market.

Key trends identified in the market are preference for technologically-advanced and environment-friendly products and collaboration of international leaders with local players to establish manufacturing facilities in the country to fulfill domestic demand.

Market Segmentation

South Africa corrosion protection coatings and acid proof linings market has been segmented into product type and end-user industry.

On the basis of end-use, the South Africa corrosion protective coatings and acid proof linings market is segmented into marine industry, oil & gas industry, power generation industry, transportation industry, chemicals industry, mining and metallurgy industry, water treatment industry and others (automotive, construction, etc.). Mining and metallurgy segment is estimated to account for maximum demand for corrosion protection coatings and acid proof lining. The segment is anticipated to expand at a volume CAGR of 3.6% over the forecast period. However, with the ongoing decline in mining output, the segment is estimated to witness decline in y-o-y growth in 2016. Other Industry segment which includes automotive and construction industry is anticipated to be the fastest growing segment expanding at a volume CAGR of 5.4% over the forecast period, followed by power generation industry expanding at a volume CAGR of 51%.

By product type, the market has been segmented into polymer coatings, rubber lining systems and acid proof linings. Polymer coatings segment is anticipated to create significant dollar opportunity over the forecast period. With increasing VOC emission regulations, waterborne polymer coatings are gaining traction over solvent-based coatings. The polymer coating segment is expected to expand at a volume CAGR of 4.4% over the forecast period. Acid proof lining segment is anticipated to expand at a volume CAGR of 3.8% over the forecast period.

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Competitive Landscape

The report includes company profiles of key players across value chain and includes raw material suppliers, manufacturers, supplier/service provider/contractors and key research institution.

Some of the key players included in the report are The Dow Chemical Company, Ashland Inc., Croda International Plc., AMPA Plastics (AMPA Group), BASF SE, Akzo Nobel N.V., Jotun A/S, E. I. du Pont de Nemours and Company, Steuler KCH GmbH, The Weir Group PLC., SGS South Africa (Pty) Ltd., Corrocoat SA (Pty) Ltd, Ferro South Africa (Pty) Ltd, Flowcrete SA (PTY) Ltd, REMA TIP TOP South Africa/Dunlop Industrial Products Pty Ltd, POWDER-LAK (PTY) Ltd, StonCor Africa (Pty) Ltd., WEBLOR, AKS Lining Systems (Pty) Ltd, Macbean Beier Plastics (PTY) Ltd, Kal-Gard (Pty) Ltd, Dura Seal, Bulldog Projects (PTY) Ltd, Rand Sandblasting and Coatings (PTY) Ltd, IAP International (Pty) Ltd., PUMBA LININGS, J&J Rubber Linings (PTY) LTD, Thermalloy (PTY) LTD and The Corrosion Institute of South Africa

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This release was published on openPR.