Hyderabad, Aug. 10, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Anti-corrosion Coatings Market Report (2023-2028)," the market is estimated at USD 24.71 billion in 2023. It is expected to register a CAGR of 4.41% during the forecast period.
Anti-corrosion coatings are used to protect metal components from salt spray, rust, oxidation, moisture, and other corrosive elements. These coatings’ anti-corrosive properties provide a longer lifespan for metal components.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 24.71 billion |
| Market Size (2028) | USD 30.66 billion |
| CAGR (2023-2028) | 4.41% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growth of the infrastructure industry. |
| The increasing adoption of water-borne coatings. |
Who are the Top Companies in the Anti-corrosion Coatings Market?
The anti-corrosion coatings market is consolidated in nature. The market consists of several companies which are enhancing their product offerings by developing innovative anti-corrosion coatings to further expand their market reach.
Significant players in the anti-corrosion coatings market are,
- Akzo Nobel NV
- Axalta Coating Systems LLC
- BASF SE
- H.B. Fuller Company
- Hempel A/S
- Jotun
- Kansai Paint Co. Ltd
- Nippon Paint Holdings Co. Ltd
- PPG Industries Inc.
- RPM International Inc.
- Sika AG
- The Sherwin-Williams Company
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Key Highlights from the Anti-corrosion Coatings Market Report:
Demand the Infrastructure Industry to Drive the Market
- Rails, bridges, and roads are the major segments of infrastructure. The infrastructure segment is growing rapidly due to the growing population and increase in infrastructure projects, thereby increasing the demand for anti-corrosion coatings.
- Several small-scale projects are spread across Asia-Pacific and North America. China, a country with a large population, also has the largest number of railroad passengers, which is increasing the development of such projects and increasing the use of anti-corrosion coatings.
Asia-Pacific to Register Significant Market Growth
- In Asia-Pacific, anti-corrosion coatings are significant in infrastructure applications. Therefore, to maintain its growth, respond to climate change, and reduce poverty, the Asia-Pacific region must invest in infrastructure development, thereby leading to massive demand for anti-corrosion coatings.
- Australia and New Zealand are island nations, and Australia’s coastline and waterways have led to the need for several recreational, commercial, and defense vessels, thereby leading to the use of anti-corrosion coatings.
What are the Latest Developments in the Anti-corrosion Coatings Market?
- In March 2023, PPG Industries launched the PPG ENVIROCRON Primeron primer to protect and provide quality anti-corrosive properties to aluminum, metalized steel, and hot-dip galvanized steel.
- In June 2022, Hempel launched a novel CUI coating that has fast-drying properties. The coating provides protection against corrosion and enhances productivity in oil and gas facilities.
Mordor Intelligence has Segmented the Anti-corrosion Coatings Market Based on Resin Type, Technology, End-User Industry, and Geography:
- By Resin Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Epoxy
- Alkyds
- Polyester
- Polyurethane
- Vinyl Ester
- Other Resin Types
- By Technology (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Water-borne
- Solvent-borne
- Powder
- UV-cured
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Oil and Gas
- Marine
- Power
- Infrastructure
- Industrial
- Aerospace and Defense
- Transportation
- Other End-user Industries
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- Italy
- France
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Anti-corrosion Coatings Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
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- Mexico Automotive OEM Coatings Market Report - The Mexican automotive OEM coatings market is expected to register a CAGR of 4.7% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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