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Anti-corrosion Coating Market (Product Types - Acrylic Coatings, Epoxy, Polyurethane, Energy, Silicone, Alkyd Coatings, and Inorganic Resins; Applications - New Building, Refurbishments, On Board Maintenance (OBM), Titanium, and Others ; End User - Marine, Automotive, Construction, Energy, Industrial, Oil & Gas, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

  • Published : June, 2022

  • Rep Id : CM0244

  • Category : Chemicals & Materials

  • Status : Published

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.

 

Market Insight

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 the anti-corrosion coating is used. The anti-corrosion coating acts as the barrier to avert the 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 was 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.

 

Segment Covered

The report on the global anti-corrosion coating market covers segments such as product types, applications, 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 applications, 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.

 

Companies Profiled:

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.

 

Report Highlights:

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.


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