A recent report published by
Infinium Global Research on the anti-corrosion coating market provides an in-depth
analysis of segments and sub-segments in the global as well as regional
anti-corrosion coating market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional anti-corrosion
coating market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of the global
anti-corrosion coating market. According to the report, the global
anti-corrosion coating market is projected to grow at a CAGR of 5.5% over the
forecast period of 2022-2028.
The global anti-corrosion coating
market was valued at more than USD 30 Billion in 2022 and is expected to reach about
USD 42 Billion in 2028, with a CAGR of 5.5% during the forecast period. Anti-corrosion
coating is the resistive coating used for the protection of metal components
within different environmental and industrial conditions such as moisture,
oxidation, salt spray, and others. The metals used in the various industries
can undergo corrosion, as they are in contact with various chemicals and
corrosive materials so to prevent them from corrosion anti-corrosion
coating is used. The anti-corrosion coating acts as the barrier to avert contact between the metal surface and the corrosive materials. The various
dyes, pigments, paints, and other materials are used in the anti-corrosion
coating. Furthermore increasing applications from the energy sector to reduce
corrosion impact on equipment will drive the market growth.
Rapidly growing demand for
anti-corrosion coating from various industries including marine, oil & gas,
construction, power generation, and others is driving the growth of the
anti-corrosion coating market worldwide. In addition, rising construction and
marine industries are contributing to the growth of the anti-corrosion coating
market all over the globe. In addition, an increase in ship repair and
maintenance activities all over the world is likely to boost the market for
anti-corrosion coating. However, crude oil is the key raw material used to
produce anti-corrosion coating materials. The fluctuations in the pricing of
this raw material are restraining the growth of the anti-corrosion coating
market. Moreover, the growing demand and the consumption of anti-corrosion
coating in the steel and construction industries are expected to create several
opportunities in the anti-corrosion coating market.
The outbreak of COVID-19 brought a
negative impact on the anti-corrosion coating market because of the imposition
of lockdown. The lockdown hampered the progress of the market because of the
temporary shutdown of several manufacturing units. The Coating industry is
observed as a highly affected industry within the world and faced serious
disruptions in terms of the supply chain, distribution cancellations, and
closures of companies as a result of the pandemic. The Lockdown situation in
major coating material manufacturing countries affected the supply of the raw
material. Because the situation was becoming more critical the demand for the
coating products decreased because it was not considered an essential
element during the pandemic. Because of these factors, the growth of the market
was restrained during the forecast period.
Based on the region, the worldwide
anti-corrosion coating market is segmented into the Asia Pacific, North
America, Europe, and also the Middle East & Africa. Among the regions,
North America is the second-largest region in the anti-corrosion coating market
owing to its wide use in various industry verticals. The US is the most
important sector and has captured the majority of the market share in the North
American region. However, The Asia Pacific region is anticipated to dominate
the expansion of the market because of the rapid growth of the market in
developing countries such as India and China during the forecast period.
Furthermore, the increasing use of the coating for marine, automotive,
construction, oil & gas, and other industries will enhance the growth of
the market within the Asia Pacific region.
The report on the global
anti-corrosion coating market covers segments such as product types,
application, and end user. On the basis of product types, the sub-markets
include acrylic coatings, epoxy, polyurethane, energy, silicone, alkyd
coatings, and inorganic resins. On the basis of application, the sub-markets
include new buildings, refurbishments, onboard maintenance (OBM), titanium, and
others. On the basis of end user, the sub-markets include marine, automotive,
construction, energy, industrial, oil & gas, and others.
The report provides profiles of
the companies in the market such as 3M Co, AkzoNobel N.V, BASF SE, The Dow
Chemical Company, Nippon Paints Co. Ltd, Kansai Paints Co. Ltd., The Sherwin
Williams Company, PPG Industries, Inc, Wacker Chemie AG, and Solvay S.A.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the anti-corrosion coating market. Moreover, the study highlights
current market trends and provides forecasts, from 2022-2028. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
Please Choose One of them.