Anti-Corrosion Coatings Market Global Overview and Research Report 2020 to 2030
The Global Anti-Corrosion Coatings Market size valued to USD 27.39 billion in 2019 is predicted to reach USD 63.72 billion by 2030, witnessing a CAGR of 7.9% from 2020-2030.
The anti-corrosion coatings help protect the
metal substrates from getting corroded due to extreme atmospheric conditions
like humidity, moisture, saline water, oxidation, as well as exposure to a
variety of aggressive chemicals. Anti-corrosion coatings ensure durability and
efficiency of the equipment by providing continuous protecting layers to
prevent it from corrosion and abrasion. These coatings hold wide applications
in aerospace & defense sector, building & construction sector, maritime
industries, oil & gas industries, automotive & transportation sector,
power generation industries and other industry verticals; as it offers superior
structural strength, high heat resistance, protection against harmful UV
radiations, lower coating costs as well as absolute ease-of-application.
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Top Companies: BASF SE, 3M Co., Wacker Chemie AG,
AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, The Dow
Chemical Company, Hempel A/S, Kansai Paints Co., Ltd, Nippon Paints Co. Ltd. and
others.
The anti-corrosion
coating market share analysis is based on technology, type, end user industry,
and geography. Based on technology, the market is segmented into solvent-borne,
water-borne, powder coating, and UV-cured. Based on type, the market covers
epoxy, acrylic, chlorinated rubber, alkyd, polyurethane, zinc, and others.
Based on end user industry, the market is classified into aerospace &
defense, industrial, marine, oil & gas, infrastructure, automotive &
transportation, power generation, and others. Geographic breakdown and analysis
of each of the previously mentioned segments include regions comprising North
America, Europe, Asia-Pacific, and RoW.
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Asia-Pacific
region is anticipated to grow with highest CAGR throughout the forecast period,
owing to growing demand for anti-corrosion coating from the power generation
industries, increasing demand for high-quality infrastructures, higher
requirements for maintenance in automotive & transportation industries, as
well as stringent government rules & regulations in this region. Moreover,
factors such as easily accessible anti-corrosion solutions, lower labor costs
and high shipping traffic in the region are fostering the maritime contribution
of Asia-Pacific region, hence supplementing the growth of anti-corrosion
coating market. North America shows a significant growth accounting for
second-largest market share. This is attributable to factors such as increasing
government military investments, presence of the largest naval base, as well as
vehemently growing oil & gas sector in this region.
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