New York, NY, Aug. 28, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Anti Corrosion Coating Market by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, and Chlorinated Rubber), by Technology (Solvent-borne, Waterborne, and Powder Coating), and by End-Use Industry (Marine, Oil & Gas, Industrial, Infrastructure, Power Generation, Automotive & Transportation, and Other End-Use Industries): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, global anti corrosion coating market was valued at USD 24.75 billion in 2017 and is expected to reach USD 36.24 billion in 2024, growing at a CAGR of 5.6% between 2018 and 2024.
Anti corrosion coatings protect industrial equipment against degradation due to salt spray, moisture, exposure, or oxidation from industrial chemicals. Anti corrosion coating offers continuous protecting layers that assist to protect equipment from the harsh effects of corrosion and abrasion. Anti corrosion coating is one of the most trustworthy corrosion prevention methods used by industries today.
Browse through 88 Tables & 44 Figures spread over 110 Pages and in-depth TOC on “Global Anti Corrosion Coating Market Size 2017: Industry Type, Share, Trends, Growth Analysis, and Forecast, 2024”.
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Anti corrosion coating is formally known as a protective coating for equipment that is extensively utilized in marine, oil & gas, industrial, power generation, and infrastructure end-user industries. Anti corrosion coating is suitable for various end-user industries and had generated a huge demand in 2017. The rising end-user requirement for anti corrosion coating is expected to propel the market. The rising growth of end-user industries like marine is expected to be the major driver for the growth of the anti corrosion coating market.
Increasing requirement for anti corrosion coatings in marine, oil & gas, construction, power generation, and other industries are anticipated to positively impact the market growth in the forecast period. The rising investment in infrastructures in the construction and transportation sectors in the emerging economies is the major key factor driving the market growth. The fluctuating prices of crude oil may hamper the growth of the market.
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The manufacturing companies are focusing on inventive products thus anticipating to open a new opportunity for the market.
Depending on the type, global anti corrosion coating market includes polyurethane, epoxy, acrylic, zinc, alkyd, chlorinated rubber, and others. In terms of value, acrylic anti corrosion coating type is anticipated to grow at the highest CAGR of around 10.2% in the forecast period. Acrylics anti corrosion coatings are anticipated to grow at the fastest pace in the chemical industry.
Depending on the technology, the solvent-borne anti corrosion coating segment has above 60% share of the global anti corrosion coating market in 2017. Powder and waterborne anti corrosion coatings are getting popular as they have minimum levels of hazardous air pollutants (HAPs) and volatile organic compounds (VOCs).
In 2017, the marine end-user industry segment held a significant share of around 20% among other end-user industries. It is expected to continue its dominance in the forecast period. The major demand for the anti corrosion coatings is from the industrial, construction, automotive, and oil and gas end-user industries segment.
Browse the full "Anti Corrosion Coating Market by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, and Chlorinated Rubber), by Technology (Solvent-borne, Waterborne, and Powder Coating), and by End-Use Industry (Marine, Oil & Gas, Industrial, Infrastructure, Power Generation, Automotive & Transportation, and Other End-Use Industries): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/anti-corrosion-coating-market
In 2017, Asia Pacific dominated the anti corrosion coating market and counted for more than 35% share of the market. Increased investments in the construction, marine, automotive, and energy industries in China and India are responsible for changing industry trends, which is anticipated to boost the anti corrosion coating market. Region wise, China is the largest consumer of the anti corrosion coating. The growth in the region is mainly attributed to the growing demand of the need for maintenance in the transportation industry and increasing energy demand. Government rules and regulations are expected to encourage the utilization of anti corrosion coatings in several industries. The need for high-quality infrastructure in developing countries such as India and China has been driving the market in the recent years. In emerging economies such as India, increased foreign direct investments (FDI) are anticipated to enhance market growth. In China, demand for the automobile industry is anticipated to grow significantly over the forecast period and China is the one of the major producer as well as the consumer of anti corrosion coating. Rapid urbanizations have dominantly contributed towards the growth of construction, chemical, and power generation sectors which is further anticipated in propelling the anti corrosion coating market. The Asia Pacific has a rising demand for solvent-borne coatings and waterborne coatings specifically in India, Taiwan, and South Korea.
North America, was the second largest market of anti corrosion coating holding around 23% of the market share. The countries especially the U.S. and Canada have a major contribution to the anti corrosion coating market. North America is the second highest region for solvent borne coatings and waterborne coatings production. Moreover, the growth of anti corrosion market is supported by power generation end-user industry. Anti corrosion coating market is quite developed in North America and its production is enough to meet regional needs.
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In Europe, particularly the heavy governmental regulations for anti corrosion coatings are expected to observe comparatively stabilized growth over the forecast period. Furthermore, the rising industrial activities in the UK, France, and Germany are anticipated to propel the market’s profit margin in the forecast period. The UK, France, and Germany are the matured markets for anti corrosion coating suppliers. Moreover, emerging industries such as power generation and chemical processing industries in the region are projected to fuel the demand for the anti corrosion coating materials.
Latin America is expected to experience decent growth in the anti corrosion coatings in the near future due to significant investments by the international companies for anti corrosion coating projects in Brazil and Argentina.
Some of the major players of the global anti corrosion coating market are BASF SE, PPG Industries, Inc., Axalta Coating Systems Ltd., AkzoNobel N.V., Ashland Inc., Hempel A/S, RPM International Inc. Jotun, The Sherwin-Williams Company, and Kansai Paint Co., Ltd., among others.
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This report segments the global anti corrosion coating market as follows:
Global Anti Corrosion Coating Market: Type Analysis
- Epoxy
- Polyurethane
- Acrylic
- Alkyd
- Zinc
- Chlorinated Rubber
- Others
Global Anti Corrosion Coating Market: Technology Analysis
- Solvent-borne
- Waterborne
- Powder Coating
Global Anti Corrosion Coating Market: End-Use Industry Analysis
- Marine
- Oil & Gas
- Industrial
- Infrastructure
- Power Generation
- Automotive & Transportation
- Others
Global Anti Corrosion Coating Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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