Anti-corrosion Coatings Market Size Expected to Reach Nearly 47.88 Billion by 2027

The anti-corrosion coatings market size is projected to reach a revenue of US$ 47.88 billion by 2027 and is expected to register a CAGR of 4.84% from 2020 to 2027, According to Precedence Research. The research report contains 150+ pages with detailed analysis.

The report provides the overall revenue of the global anti-corrosion coatings market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year. This research report evaluates the anti-corrosion coatings market on a global and regional level.

Anti-corrosion coatings are one of the most efficient and reasonable solutions for handling corrosion. Anti-corrosion coatings are employed to defend metal or other surfaces from natural degradation instigated by diverse corrosive agents including chemicals, moisture, and salt. Corrosion leads enormous financial losses in a great number of businesses. It also slowly deteriorates structures, posturing a hazard to life and property. They work as a barricade amid the corrosion agent and the surface, and extend the life of the structure and also augment its competence. Anti-corrosion coatings are categorized into polyurethane, epoxy, acrylic, alkyd, zinc, chlorinated rubber.

Other coatings include fluorocarbons, silicates, co-polymers, graphene glass flakes and ceramic. The type of anti-corrosion coating employed is dependent on the properties essential for the precise application. These coatings find widespread application in numerous areas including marine, oil and gas, petrochemical, power generation, infrastructure, and others. Anti-corrosion coating are employed in and drop-in centers for the product such as handles, floors, beds, ceiling paints and walls and care homes, hospitals.

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These coatings act as a barrier to avert the contact between the corrosive compounds, materials, chemicals from the surfaces. Further, these coatings improve the surface finish of the metal components. The intensifying demand for supportable and robust metallic products, especially in the oil & gas and construction sector is predictable to accelerate the growth of anti-corrosion coatings market during years to come.

Report Highlights

Globally, Asia Pacific gathered maximum market share in terms of revenue in 2019 on account of influences including government initiatives such as construction of a silk route project connecting Xian, Make in India, Italy via both road and marine transportation China to Trieste.

Out of different application sectors, oil & gas application sector stated for the greater share of over 35% in 2020 and will hold the leading position during the estimated timeframe

Solvent-borne formulations are progressively employed in industrial coatings, automotive coatings, and printing inks. Hence, snowballing application of solvent-borne technology to manufacture anti-corrosion coatings is expected to push the solvent-borne technology growth

Market Scope:

The anti-corrosion coatings market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenarios and forecasts (revenue/volume) and categorizes the market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rates market dynamics such as drivers, restraints and opportunities, and distributors and sales channels.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

Growth Factors

In the past few years, need for green and advanced technologies has been rising constantly. Consumer requirement for ecologically friendly products has formed an enormous impact on the product innovation and value in the high-performance anti-corrosion coatings industry. Today, consumers of high-performance anti-corrosion coatings favor those products that deliver chemical, water, acid, and hydrocarbon resistance. Also, those products provide enhanced productivity and improved service life of the component; less maintenance costs and ease of cleaning and application. An upsurge in demand has assisted novelties in technologies, surpassing consumer hopes. Government rules and guidelines are anticipated to inspire the utilization of anti-corrosion coatings in several industries.

Increasing need for anti-corrosion coatings in sectors like building & construction, oil & gas, and marine, is predictable to push the growth of the market during years to come. The main motive of the anti-corrosion coating is to defend the metal substrates from environment acquaintances, like moisture, humidity, and oxidation. Among the worldwide COVID-19 outbreak, the demand for anti-corrosion coatings has amplified mainly in the marine application and oil & gas and industries on account of decreased marine and exploration operation. Further, the automotive & rail application sector is anticipated to observer substantial growth due to snowballing need for smart EVs which needs durable and lightweight components to augment the vehicular competence.

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Regional Snapshots

The requirement for high-quality infrastructure in emerging nations such as China and India has been lashing the market in the recent years. In developing economies such as India, augmented foreign direct funds are awaited to improve market growth. China is one of the major consumers and producers of anti-corrosion coatings around the world. Speedy urbanization has highly donated toward the development of construction, power generation and chemical sectors. All these influences are accelerating the anti-corrosion coatings market advancement in China. China is the foremost exporter and importer of crude oil across the globe thus, any changes upsetting the expansion activities connected to the oil and gas segment are possible to have a noteworthy influence on the coating market in China.

Key Players & Strategies

APAC offers as strategic position for manufacturer’s anti-corrosion coatings. The global anti-corrosion coating market was conquered by Asia Pacific due to number of end-use sectors along with the growth in this region. The Middle East and Africa are also evolving as tactical locations for anti-corrosion coating producers after Asia Pacific. Some of the leading major corporations involved in this market comprise AkzoNobel NV, PPG Industries Inc., Nippon Paints, the Sherwin-Williams Company, RPM International Inc. and others.

Market Segmentation

By Type

Water-based
Solvent-based
Powder
Others

By End-User

Building & Construction
Oil & Gas
Marine
Aerospace and Defense
Automotive & Rail
Others

By Material

Polyurethane
Epoxy
Acrylic
Alkyd
Zinc
Others

Regional Segmentation

North America (U.S. and Canada)

Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

Latin America (Brazil and Rest of Latin America)

Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Why should you invest in this report?

If you are aiming to enter the global anti-corrosion coatings market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for anti-corrosion coatings are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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