NEWARK, Del, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The global corrosion protective coating and acid proof lining market size is poised to reach US$ 47,928.96 million by 2023. The corrosion protective coatings and acid proof lining sales are expected to witness a steady CAGR of 5.7% between 2023 and 2033. By 2033, the corrosion protective coatings and acid proof lining demand is anticipated to attain a sum of US$ 83,434.92 million.
Due to rising industrial activity and the need for robust and long-lasting protection options, the corrosion protective coating market has been advancing significantly. Many factors spur the corrosion protective coating and acid proof lining market, including infrastructure construction and the demand for efficient maintenance and protection solutions in sectors like chemical processing and water treatment.
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Market Trends in Corrosion Prevention Coatings and Acid Resistant Lining Solutions
- Developing eco-friendly and sustainable coatings and linings is one of the ongoing corrosion protective coating and acid proof lining market trends.
- The corrosion protective coating and acid proof lining manufacturers are concentrating on creating products that are low in VOC content and do not harm the environment in response to growing environmental concerns.
- Another trend is adopting innovative corrosion protective coating technologies, which offer exceptional resistance against solid chemicals and extreme temperatures. As nanotechnology improves the performance and durability of corrosion protective coating and acid proof lining, it garners traction in the coating formulations.
Obstacles in the Corrosion Resistant Coatings and Acid Proof Linings Sector
- Due to the strict regulatory framework, the corrosion protective coating and acid proof lining market faces severe constraints. The corrosion protective coatings and acid proof lining manufacturers must handle complicated safety and environmental requirements, which might change from place to region.
- Competition in the corrosion protective coating and acid proof lining sector is fierce. Established corrosion protective coating, acid-proof lining providers, and new competitors always look for ways to edge out.
- On the corrosion protective coating and acid proof lining market, the state of the economy can have a significant effect. Economic downturns can result in decreased investment by sectors, which affects the demand for corrosion protective coatings and acid proof lining goods.
Key Takeaways
- The polymer coating segment in the product type category will grab a share of 66.5% from 2023 to 2033.
- In the technology category, the waterborne segment will acquire a market share of 45.8% between 2023 and 2033.
- The Canada corrosion protective coating market is anticipated to accelerate at a CAGR of 6.7% from 2023 to 2033.
- The United States corrosion protective coating and acid proof lining sales is anticipated to surge at a CAGR of 7.3% by 2023.
- The corrosion protective coating and acid proof lining demand in the United Kingdom is to witness a growth of 6.8% from 2023 to 2033.
- The France corrosion protective coating and acid proof lining market is expected to develop a CAGR of 6.5% between 2023 and 2033.
- The Italy corrosion protective coating market is expected to continue to spur at a CAGR of 4.6% through 2023.
- The Spain acid proof lining market expects to evolve from 2023 to 2033 at a CAGR of 6.2%.
- The Germany corrosion protective coating market forecasts a CAGR of 6.6% through 2023.
- India acid proof lining market is anticipated to rise at a CAGR of 8.0% by 2023.
- China corrosion protective coating and acid proof lining sales are expected to climb at a CAGR of 7.5% until 2033.
- Japan's market may exhibit a CAGR of 3.0% by 2023.
- ASEAN corrosion protective coating and acid proof lining sales to record a CAGR of 7.2% between 2023 and 2033.
- Australia and New Zealand (ANZ) corrosion protective coating market to register a CAGR of 5.9% through 2023.
“The corrosion protective coatings and acid proof lining sales continue to expand progressively, driven by augmenting industrialization and the need to safeguard infrastructure. Technological advancements boost the performance and durability of the products, while stringent environmental regulations push for sustainable and eco-friendly solutions. The corrosion protective coatings and acid proof lining demand indicates optimistic opportunities for constant expansion.” Opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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Regional Market Growth Patterns in the Corrosion Protective Coatings and Acid Proof Lining
- North America's corrosion protective coating and acid proof lining market is driven by strict environmental regulations, emphasizing safety and sustainability.
- Oil and gas, industrial, and infrastructure development are some industries driving the continuous market expansion of corrosion protective coatings and acid proof lining in the United States and Canada.
- A significant focus on quality and durability in applications across numerous industries characterizes the Europe corrosion protective coatings and acid proof lining sector.
- Due to their established industrial sectors, nations like Germany, and the United Kingdom, significantly contribute to the Europe corrosion protective coating market.
- Significant market growth of corrosion protective coatings and acid proof lining is seen in Asia Pacific, primarily due to the region's quick industrialization and infrastructure development.
- Economies like China and India are in the foreground of the growth, concentrating on corrosion protection in the chemical, petrochemical, and construction sectors.
Competitive Landscape
Several competitors are active in the fiercely competitive corrosion protective coating and acid proof lining market. The corrosion protective coating and acid proof lining manufacturers cater to numerous industries, including oil and gas, automotive, marine, construction, and power generation, by providing a broad range of corrosion protection products and solutions.
To achieve sustainability, prominent corrosion protective coating and acid proof lining providers are concentrating on research and development efforts to deliver advanced and environmentally friendly products.
Recent Breakthroughs
- With an emphasis on animal welfare, sustainability, and productivity, BASF and Cargill are expanding their collaboration to offer cutting-edge enzyme solutions to United States animal protein producers. The partnership aims to develop advanced products for the United States by combining Cargill's market reach and BASF's enzyme research and development expertise.
- The US$ 2.7 million extension of PPG's powder coatings factory in Brazil was just completed. The project featured cutting-edge automation for greater quality control and speedier color matching, increasing manufacturing capacity by 40%. With this investment, PPG will be able to meet the growing local demand for environmentally friendly powder coatings used in various industries.
Corrosion Protective Coating and Acid Proof Lining Manufacturers
- BASF Coatings GmbH
- PPG Industries Inc.
- Sherwin-Williams
- Ashland Inc.
- Axalta Coatings Ltd.
- Hempel A/S
- International Paint Limited
- Jotun A/S
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Key Segments
By End Use:
- Marine
- Oil and Gas
- Power Generation
- Construction
- Automotive
- Transportation Vehicles
- Chemicals
- Mining and Metallurgy
- Others
By Product Type:
- Corrosion Protective Coating
- Polymer Coatings
- Rubber Lining Systems
- Acid Proof Lining
- Ceramic and Carbon Brick Lining
- Tile Lining
- Thermoplastics Lining
By Technology:
- Solvent-Borne
- Waterborne
- Powder-Based
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- The Middle East and Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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