A recent report published by Infinium Global Research on anti-corrosion coating market provides an in-depth analysis of segments and sub-segments in 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, forecast and dollar values of global anti-corrosion coating market. According to the report, the global anti-corrosion coating market is projected to grow at a CAGR of 4.7% over the forecast period of 2018-2024.
Anti-corrosion coating is the resistive coating used for the protection of metal components within the 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 material so to prevent them from corrosion the anti-corrosion coating is used. The anti-corrosion coating acts as the barrier to avert the contact of the metal surface and the corrosive materials. The various dyes, pigments, paints and other materials are used in the anti-corrosion coating.
Rapidly growing demand for anti-corrosion coating from various industries including marine, oil & gas, construction, power generation, and others is driving the growth of 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 across all over the world likely to boost the market of 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 retraining the growth of 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 anti-corrosion coating market.
Geographically, Asia-Pacific dominates the market of anti-corrosion coating followed by North America. The rising urbanization in Asia-Pacific region results in the rapid growth of various end use industries such as construction, automotive, steel and others are likely to boost the growth of anti-corrosion coating market in this region. The increasing oil and gas drilling and exploration activities contribute to the market of anti-corrosion coating in Asia- Pacific region. Furthermore, 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.
The report on global anti-corrosion coating market covers segments such as product types, applications, and end-user. On the basis of product types, the global anti-corrosion coating market is categorized into acrylic coatings, epoxy, polyurethane, energy, silicone, alkyd coatings, and inorganic resins. On the basis of applications, the global anti-corrosion Coating market is categorized into new building, refurbishments and on board maintenance (OBM). On the basis of end-user, the global anti-corrosion coating market is categorized into marine, automotive, construction, energy, industrial, oil & gas, and others.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global anti-corrosion 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 on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global anti-corrosion coating market. Moreover, 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 anti-corrosion coating market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the anti-corrosion coating market that will impact 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. This report will help manufacturers, suppliers, and distributors of the anti-corrosion coating market to understand the present and future trends in this market and formulate their strategies accordingly.