Anti-corrosion Coating Market (Product Type - Acrylic Coatings, Epoxy, Polyurethane, Inorganic Resins, Silicone, Alkyd Coatings, and Others; Application - 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 2030

A recent report published by Infinium Global Research on anti-corrosion coating market provides 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, forecast and dollar values of global anti-corrosion coating market.

Market Insight:

The global anti-corrosion coating market was valued at USD 30.06 billion in 2022 and is expected to reach USD 46.20 billion in 2030, with a CAGR of 5.52% during the forecast period of 2023-2030.

Anti-corrosion coatings are used to protect metal components from degradation caused by moisture, salt spray, oxidation, and exposure to various environmental or industrial chemicals in different industries. These coatings create a barrier that prevents contact with corrosive materials. They also offer abrasion resistance, non-stick performance, and chemical protection. The anti-corrosion coatings enhance the performance and lifespan of metals and other substrates. The coating acts as a sacrificial material, forming a "barrier layer" to protect the material surface from corrosion. There are several benefits to using these coatings, including improving the efficiency of metals and other components, creating new material surfaces with enhanced functional features and properties, refining industrial operations, reducing maintenance and replacement costs, conserving scarce natural resources, and minimizing polluting releases.

The anti-corrosion coating market is experiencing significant growth due to the escalating demand from various industries. This rise in demand can be attributed to the increasing awareness and need for protecting infrastructure and machinery from the damaging effects of corrosion. Industries such as marine, oil and gas, automotive, and power generation are particularly driving this growth as they require robust protective solutions to extend the lifespan of their assets and ensure operational efficiency. The application of anti-corrosion coatings helps reduce maintenance costs and prevent downtime, making them an essential component in these sectors. Additionally, the rise in repair and maintenance activities is further fueling the growth of the anti-corrosion coating market. As infrastructure ages and industrial machinery undergoes wear and tear, the need for regular maintenance and repair becomes imperative. Anti-corrosion coatings play a crucial role in these activities by providing a protective barrier that mitigates the impact of corrosion, thereby preserving the integrity of structures and machinery. However, the stringent environmental regulations can impede the growth of the market. Many anti-corrosion coatings contain volatile organic compounds (VOCs) and other hazardous substances that can be detrimental to the environment. Regulatory bodies across the globe are enforcing strict guidelines to limit the use of such substances, which can hamper the growth of the market. Nonetheless, the increasing consumption of anti-corrosion coatings in the steel and construction industries presents significant growth opportunities. Steel is a fundamental material used in construction, and it is highly susceptible to corrosion, especially in harsh environments. Anti-corrosion coatings are vital for protecting steel structures, including bridges, buildings, and pipelines, ensuring their durability and safety. As the construction industry continues to expand, particularly in emerging economies, the demand for effective anti-corrosion solutions is expected to rise, providing opportunities for the growth of the market.

The global anti-corrosion coating market is geographically segmented into North America, Europe, Asia Pacific, and the rest of the world. Among these regions, the Asia Pacific region is anticipated to hold the largest market share during the forecast period. This dominance is primarily attributed to the rapid growth in developing countries such as India and China. The robust economic expansion in these nations has led to increased industrial activities, thereby boosting the demand for anti-corrosion coatings. These coatings are extensively used in various industries, including marine, automotive, construction, and oil & gas, which are all experiencing substantial growth in the Asia Pacific region. The growing infrastructure development and urbanization further drive the demand for anti-corrosion coatings. Further, the North America region is expected to secure a significant share of the global market during the forecast period. This is due to the widespread application of anti-corrosion coatings across multiple industry verticals. In North America, the United States stands out as the leading market, capturing the majority of the regional market share. The U.S. market benefits from advanced industrial practices mandating the use of protective coatings to extend the lifespan of industrial equipment and structures. This has led to a growing demand for high-performance anti-corrosion coatings in sectors such as automotive, marine, and oil & gas.

Report Scope of the Anti-corrosion Coating Market:

Segment wise revenue contribution in the global anti-corrosion coating market

The report on global anti-corrosion coating market provides a detailed analysis of segments in the market based on Product Type, Application, and End User.

Segmentation Based on Product Type

·       Acrylic Coatings

·       Epoxy

·       Polyurethane

·       Inorganic Resins

·       Silicone

·       Alkyd Coatings

·       Others

Segmentation Based on Application

·       New Building

·       Refurbishments

·       On Board Maintenance (OBM)

·       Titanium

·       Others

Segmentation Based on End User

·       Marine

·       Automotive

·       Construction

·       Energy

·       Industrial

·       Oil & Gas

·       Others

Company Profiled:

·       3M

·       Akzo Nobel N.V.

·       BASF SE

·       Dow Inc.

·       NIPPON PAINT (M) SDN. BHD.

·       Kansai Paint Co.,Ltd.

·       The Sherwin-Williams Company

·       PPG Industries, Inc.

·       Wacker Chemie AG

·       Sika AG

Report Highlights:

The report provides deep insights into 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 2023-2030. 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.