Anti Corrosion Coating Market
The Global Anti Corrosion Coating Market is expected to witness a significant growth of USD 33.27 Billion by 2023 with CAGR of 5.3% between 2018 and 2023.
The market witnessed a significant growth over the forecasted period owing to versatile applications such as into additives, flavor enhancers, acidity regulators, preservatives, and others across various industries.
Anti-corrosion coating used in various industry such as oil & gas, shipbuilding, marine, energy, transport, automotive, and others on the other hand, it is widely used in marine industry across various region including APAC, North America, Europe, and RoW. Among all the region it is led by the Asia-Pacific due to fast economic development, specially, in the marine, automotive & transportation end-use industry.
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The global anti corrosion coating market has been segmented into type, application, and end use industries. On the basis of types the market has been divided into epoxy, zinc, acrylic, silicone, polyurethane alkyd, chlorinated rubber, and others (fluorocarbons, co-polymers, graphene, ceramic, and glass flakes). Above all the types epoxy anti corrosion coating is highly in demand owing to its features such as water resistance, extensive corrosion protection, and adhesion to steel due to this it is extremely applicable in marine industry through numerous region. After epoxy anti corrosion coating polyurethane alkyd coating holds the second position due to applicable in various industry such as oil & gas, transport, and automotive.
On the basis of application, the market has been divided into water-based coating, solvent-based coating, powder coating, and others (antifouling coatings, high-energy cure coatings, nano-coatings). Among these applications, solvent-based anti-corrosion coating have coverd the largest market followed by water-based coating, powder coating, and others. The demand for solvent-based anti-corrosion coating is growing due to its feature such as lesser drying time, exceptional block resistance, and extensive applications.
In global anti corrosion market Europe region hold the third position. In Europe region, countries including Germany, Italy, France and the U.K. are expected to drive the growth of anti-corrosion coating market. The wide industrial application in coating of automotive, transportation, and energy in this region drives market growth. The UK led the market share in 2018 and is predicted to continue its dominance over the forecast period from 2018 to 2023. However, France and Germany is expected to grow at a considerably growing rate.
Furthermore, many manufacturing company are coming up in the region adding to the growth of the sector. Up-to-date research effort in anticorrosion coatings is focused on the development of more type of coatings that can fulfill more stringent environmental standards, particularly in North America and Europe. It is found that water-based coating are also being growing segment in this region, and acrylic-based Water-based coating has been rising swiftly. Latin America and Middle East also witnessed in growth of Anti Corrosion Coating market due to various application such as oil & gas, shipbuilding, marine, energy, transport, automotive, and others.
- 3M (US),
- BASF SE (Germany),
- Hempel Group (Europe),
- Kansai Paint Co.Ltd (Japan),
- PPG Industries (US),
- The Dow Chemical Company (US),
- Wacker Chemie AG (Germany),
- Valspar (US),
- Bluchem (South Africa),
- RPM International Inc.(US),
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