WASHINGTON, June 20, 2023 (GLOBE NEWSWIRE) -- The Global Anti-Corrosion Coatings Market is valued at USD 29.6 Billion in 2022 and is projected to reach a value of USD 41 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 4.8% over the forecast period 2023-2030.
One of the most significant economic areas is the Anti-Corrosion Coatings business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Anti-Corrosion Coatings, including rising investment requirements, developing technology, and new laws.
Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/anti-corrosion-coatings-market-0329/request-sample
Market Overview
According to Vantage Market Research, some of the key factors anticipated to accelerate the Anti-Corrosion Coatings market growth over the forecast period. One of the main factors that favorably affect the demand for Anti-Corrosion Coatings is the increase in demand from end-use industries such as oil & gas, marine, and construction. These industries require high-performance coatings that protect their equipment, structures, and assets from corrosion, leading to safety hazards, downtime, and costly repairs.
Additionally, the increasing focus on sustainability and environmental regulations has led to the adoption of eco-friendly and low VOC (volatile organic compounds) coatings, which also drives the demand for anti-corrosion coatings.
The Asia Pacific Anti-corrosion coatings market is witnessing significant growth due to rising demand from end-use industries like oil & gas, marine, power generation, and manufacturing. The increasing investment in infrastructure development and rapid industrialization in emerging nations such as China, India, and Japan also drive market growth. Moreover, the growing stringency of regulations related to environmental protection and safety concerns is creating the need for advanced and eco-friendly anti-corrosion coatings, which further boosts the market growth. Additionally, the development of innovative and technologically advanced anti-corrosion coatings by manufacturers is expected to create new growth opportunities in the market. The key players operating in the market are focusing on strategic partnerships, collaborations, and mergers & acquisitions to enhance their market share.
Market Dynamics
Growth in Automotive Industry to Boost the Market
The automotive industry has been steadily growing and evolving with advancements in technology and innovation. With the increasing demand for automobiles, there has been a surge in the production of cars worldwide. Anti-corrosion coatings are essential in the automotive industry as they protect the car's metal parts from rust and deterioration caused by moisture, chemicals, and other environmental conditions. The growing demand for anti-corrosion coatings in the automotive industry can be attributed to their ability to enhance the lifespan of vehicles and improve their overall performance. As the automotive industry continues to grow, the demand for effective anti-corrosion coatings will likely increase, thereby driving the growth of the anti-corrosion coatings market.
Increasing Demand from the Oil & Gas Industry to Impact the Market
The anti-corrosion coatings market is expected to see increased demand from the oil & gas industry due to the increasing need to protect equipment and infrastructure from corrosion caused by harsh operating environments and corrosive materials. High investments in oil & gas exploration and production activities also drive the demand for anti-corrosion coatings. Additionally, regulations mandating using environment-friendly coatings push the industry towards innovative and sustainable coating solutions. The need for anti-corrosion coatings will likely grow in the coming years as the oil & gas industry expands globally.
Top Players in the Global Anti-Corrosion Coatings Market
- PPG Industries Inc. (U.S.)
- Akzo Nobel N.V. (Netherlands)
- The Sherwin-Williams Company (U.S.)
- Axalta Coating Systems LLC (U.S.)
- BASF SE (Germany)
- Hempel A/S (Denmark)
- Ashland Chemicals (U.S.)
- Jotun (Norway)
- RPM International Inc. (U.S.)
- Kansai Paint Co. Ltd. (Japan)
- Axalta Coating Systems LLC (U.S.)
Budget Limitation? Contact us for Special Discount and Pricing
Top Trends in Global Anti-Corrosion Coatings Market
- One trend that Vantage Market Research (VMR) expects to see in the Anti-Corrosion Coatings industry is the shift toward powder coatings. The use of powder coatings is gaining popularity due to their ease of application, durability, and eco-friendliness. The growth in the powder coatings market is expected to drive the anti-corrosion coatings market further.
- Another trend that VMR predicts will continue in the Anti-Corrosion Coatings industry is technological advancements. Advanced coating technologies such as nano-coatings and smart coatings are gaining popularity. These coatings offer improved corrosion protection and longer lifespan.
Top Report Findings
- Based on the Type, the Epoxy segment holds a significant share in the global anti-corrosion coatings market due to its unique properties like high adhesion, chemical resistance, and durability. It is widely used for industrial applications in the automotive, construction, and marine sectors. The increasing demand for eco-friendly and solvent-free epoxy coatings drives the market's growth.
- Based on the Technology, the Solvent-borne category in the global anti-corrosion coatings market will likely grow in the coming years. This type of coating is composed of organic solvents and resins, which provide excellent adhesion, durability, and protection against corrosion. Solvent-borne coatings are widely used in the automotive and industrial sectors due to their high resistance to harsh environmental conditions.
- Based on the End-User, the Infrastructure category controls most of the Anti-Corrosion Coatings market's revenue. Anti-corrosion coatings are widely used in building and construction industries, such as bridges, tunnels, airports, and railway stations. These coatings provide long-lasting protection against corrosion, which enhances the structural integrity and lifespan of infrastructure assets. The increasing demand for infrastructure development and renovation projects in developing countries is driving the growth of the anti-corrosion coatings market in the infrastructure segment.
Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/anti-corrosion-coatings-market-0329/0
Top 10 Players Generates Most of the Revenue of Global Anti-Corrosion Coatings Market
The market is highly competitive and fragmented, with numerous players operating. The report found that the most prominent players in the Anti-Corrosion Coatings market include PPG Industries Inc. (U.S.), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (U.S.), Axalta Coating Systems LLC (U.S.), BASF SE (Germany), Hempel A/S (Denmark), Ashland Chemicals (U.S.), Jotun (Norway), RPM International Inc. (U.S.), Kansai Paint Co. Ltd. (Japan), and Axalta Coating Systems LLC (U.S.). Moreover, the key players focus on product innovation, developing new technologies, and expanding into new geographies to maintain their market position. As per the latest report published by Vantage Market Research, the top 10 companies are responsible for generating most of the revenue of the global market.
Acrylic Material Category in Anti-Corrosion Coatings Market Expected to Generate Nearly Half the Total Global Segment Revenue
The Acrylic segment in this market is expected to observe significant growth due to the increasing demand for high-performance coatings with excellent weatherability and durability. Acrylic coatings offer excellent resistance against corrosion, UV degradation, and chemicals, making them ideal for use in harsh environmental conditions. They are also easy to apply, have good adhesion properties, and provide an attractive finish.
The growth in the construction industry is also expected to drive the demand for acrylic coatings in the anti-corrosion coatings market. The growth in the construction of residential & commercial buildings in developing countries, coupled with the need to protect infrastructure from corrosion, is expected to increase the demand for anti-corrosion coatings in the construction industry.
North America and Europe are the major markets for anti-corrosion coatings, with a significant presence of major manufacturers in these regions. However, the Asia Pacific region is projected to grow substantially due to the booming construction industry and increasing industrialization in countries such as China and India. The acrylic segment is expected to grow strongly in this region due to the rising demand for anti-corrosion coatings in the marine and oil & gas industries.
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on Anti-Corrosion Coatings Market Forecast Report (2023-2030).
Global Anti-Corrosion Coatings Market Segmentation
By Type
- Epoxy
- Acrylic
- Alkyd
- Zinc
- Polyurethane
- Chlorinated Rubber
- Other Types
By Technology
- Solvent-borne
- Waterborne
- Powder Coating
By End-User
- Oil & Gas
- Marine
- Infrastructure
- Industrial
- Automotive & Transportation
- Power Generation
- Other End-User Industries
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/anti-corrosion-coatings-market-0329
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 29.6 Billion |
| Revenue Forecast by 2030 | USD 41 Billion |
| CAGR | 4.8% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | PPG Industries Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Axalta Coating Systems LLC, BASF SE, Hempel A/S, Ashland Chemicals, Jotun, RPM International Inc., Kansai Paint Co. Ltd., Axalta Coating Systems LLC |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/anti-corrosion-coatings-market-0329/request-sample |
Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/anti-corrosion-coatings-market-0329/0
Browse More Reports from Vantage Library:
- Powder Metallurgy Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/powder-metallurgy-market-2107
- Self-healing Materials Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/selfhealing-materials-market-2100
- Paraffin Wax Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/paraffin-wax-market-2096
- Textile Recycling Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/textile-recycling-market-2094
- Fire Resistant Lubricants Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/fire-resistant-lubricants-market-2091
- Silanes Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/silanes-market-2090
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
Follow Us on: LinkedIn | Twitter | Facebook | YouTube
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website:
https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases
Latest Vantage Market Research Blog
Vantage Market Research All Reports
Blog:
