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  • Anti-Corrosion Coatings Market Forecast | 2023-28

    Anti-Corrosion Coatings Market Forecast | 2023-28

    Anti-Corrosion Coatings Market Forecast | 2023-28
    Report code - SRAM728 Delivery - 2 Weeks
    Anti-Corrosion Coatings Market Size, Share & Forecast & Industry Analysis | 2023-2 See more...

    Market Insights

    The Anti-Corrosion Coatings Market is estimated to grow from USD 32.57 billion in 2023 to USD 41.25 billion by 2028 at a CAGR of 4.83% during the forecast period.

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    What are anti-corrosion coatings?

    Anti-corrosion coatings allow for added protection of metal surfaces which acts as a barrier for inhibiting contact between chemical compounds or corrosive materials. Anti-corrosion coating slows or prevents the electrochemical reactions that degrade the structural integrity of metals and alter their corrosion-induced appearance.

    Anti-Corrosion Coatings Market Report Overview

    Market Size in 2028

    USD 41.25 Billion

    Market Size in 2023

    USD 32.57 Billion

    Market Growth (2023-2028)

    CAGR of 4.83%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Some of the key players in the Market are

    Market Dynamics

    The market is driven by a host of factors, some of which are noted below:

    • The growing energy sector, increasing demand for new infrastructure, and maintenance of existing construction spaces.
    • Rising commercial and military shipbuilding activities in the Asia-Pacific region, are some of the key factors expected to drive the overall industry growth during the forecast period.

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    Segment Analysis

    By Product Type

    The market is segmented as epoxy, polyurethane, acrylic, alkyd, zinc, chlorinated rubber, and others. Acrylic material segment share more than 41% in 2021. Polyurethane, on the other hand, is estimated to account for a significant share of the market over the forecast period. Polyurethane anti-corrosion coatings are extensively used in a wide range of end-user industries on account of properties such as durability and quick curing time.

    By Mode of Application Type

    The market is segmented as water-based, solvent-based, and powder. Solvent-based technology shares more than 45% in 2021. The presence of various environmental regulations on the use of solvent-based coatings has resulted in an increase in the use of water-based coatings, which has increased the market revenue of the segment.

    By End-User Type

    The market is segmented into oil & gas, shipbuilding, infrastructure, industrial markets, energy, transport, and others. Oil & gas application share more than 35% in 2021. The segment is expanding as a result of the rising population, increasing investment in the construction sector, and the growing need to protect metal structures from corrosion.

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    By Region

    Asia Pacific holds more than 35% of the market share in 2021. The growth of the region’s market is owing to the presence of some of the major players in China. Growing demand from the shipping, energy, and infrastructural industries, specifically in South Korea, China, and Japan is further expected to fuel the regional market growth over the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities over the forecast period.

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    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market

    The market is segmented into the following categories.

    By Product Type:

    • Epoxy 
    • Polyurethane 
    • Acrylic
    • Alkyd
    • Zinc
    • Chlorinated Rubber
    • Others

    By Mode of Application Type:

    • Water-based 
    • Solvent-based
    • Powder

    By End-User Type:

    • Oil & Gas
    • Shipbuilding 
    • Infrastructure 
    • Industrial Markets
    • Energy
    • Transport
    • Others

    By Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Anti-Corrosion Coatings Market 

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by mode of application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Anti-corrosion coatings allow for added protection of metal surfaces which acts as a barrier for inhibiting contact between chemical compounds or corrosive materials. Anti-corrosion coating slows or prevents the electrochemical reactions that degrade the structural integrity of metals and alter their corrosion-induced appearance.

    Some of the key players in the market are Akzo Nobel N.V., Ashland Global, Axalta Coating Systems, Ltd., BASF SE, Hempel Group, Jotun, Kansai, PPG Industries, Inc., RMP International, and The Sherwin-Williams Company.

    Asia-pacific is expected to be the leading region in the anti-corrosion coatings market during the forecast period.

    The Market was likely to grow at a CAGR of 4.83% from 2023-2028

    The market is estimated to grow from USD 32.57 billion in 2023 to USD 41.25 billion by 2028.

    Asia Pacific is estimated to grow at the fastest pace in the market in the coming years

    Growing anti-corrosion coatings demand in tag and label applications, growing per capita consumption of metal due to strong economic push and rising per capita income are the factors driving the growth of anti-corrosion coatings market.

    The study period of this market report is 2016-28.

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