Anti-Corrosion Coatings Market-2017, Competitive Analysis & Forecast by 2025
Anti-Corrosion Coatings Market boasts of an extensive application landscape encompassing the biomass, oil & gas, nuclear, solar, and hydropower sectors. These coatings find widespread usage in drill bits, oil storage tanks, and drill pipes as they supposedly help prevent the accumulation of rust that occurs as a result of their contact with underground water as well as marshlands. In addition, the oil & gas equipment sector, which accumulated a revenue of USD 130 billion in 2010, is projected to hit the revenue margin of USD 278 billion by 2025, which in turn, will push the market trends. The ability of these coatings to provide an aesthetic value to the surface along with their beneficial features such as rust resistance, longevity, and UV resistance will provide numerous opportunities to large scale corporations to exploit the opportunities offered by anti-corrosion coatings market.
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Anti-corrosion coatings are extensively used across the transportation, manufacturing, construction, aerospace, oil & gas, infrastructure, chemical, energy, marine, and shipbuilding sectors. Infrastructure sector, which contributed more than USD 2 billion towards anti-corrosion coatings market revenue in 2015, is predicted to boost the business expansion. The development can be credited to government legislations supporting public infrastructural growth along with the escalation in the number of residential and commercial ventures. Anti-corrosion coatings market size in the energy sector is set to register substantial gains of 5% from the period of 2016 to 2025, driven by the product’s ability to protect the instruments from corroding.
Considering the topographical trends, Asia Pacific anti-corrosion coatings industry will witness notable gains of over 5% from 2016 to 2025, driven by the expanding construction sector along with a rise in the number of ship maintenance & repair activities. Easy accessibility of cost effective labor force and viable anti-corrosion services coupled with thriving shipping business will further steer the business expansion. Japan, China, Singapore, South Korea, India, Indonesia, Hong Kong, Philippines, and Thailand are likely to drive the regional share.
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North America anti-corrosion coatings market, which was estimated at USD 1.5 billion in 2015, is projected to experience a noteworthy surge over the next few years, subject to high government funding across the military sector along with the flourishing oil & gas sector. U.S. anti-corrosion coatings industry is set to record a CAGR of more than 4.5% in the years ahead.
Anti-Corrosion Coatings Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2010 - 2025
3.3. Industry ecosystem analysis
3.4. Industry Impact forces
3.4.1. Growth drivers
126.96.36.199. Growing energy sector
188.8.131.52. Rise in commercial and military shipbuilding and maintenance activities in Asia Pacific
184.108.40.206. Increasing need for new infrastructure and maintenance of existing construction spaces along with growing demand for metal based structures
3.4.2. Industry pitfalls & challenges
220.127.116.11. Fairly high price volatility of petrochemical feedstock
18.104.22.168. Stringent environmental regulations associated with anti-corrosion coatings
3.5. Growth potential analysis
3.6. Porter's analysis
3.7 Company market share analysis, 2015
3.8. PESTEL analysis
3.9 Pricing trends
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Akzo Nobel N.V., Kansai Paint Company Limited, Nippon Paints Holdings Company Limited, Sokema, Axalta Coating Systems, PPG Industries Incorporation, Ashland Incorporation, Hempel A/S, BASF SE, RPM International Incorporation, The Valspar Corporation, AnCatt Company, The Jotun Group, The Sherwin-Williams Company, AICA Kogyo Company Limited, and Chugoku Marine Paints Limited are the major participants of anti-corrosion coatings industry.
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