Global Anti Corrosion Coating Market Is Likely to Grow at A CAGR Value of Around 4.9% By 2028

The global anti corrosion coating market was worth around USD 27,928.50 million in 2021 and is estimated to grow to about USD 37,213.50 million by 2028, with a compound annual growth rate (CAGR) of approximately 4.9 percent over the forecast period. The report analyzes the anti-corrosion coatings market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the anti-corrosion coatings market.

Anti-Corrosion Coating is crucial for multiple applications in avoiding corrosion and losses that are associated with corroded elements. The increasing use of metallic elements is driving the demand for anti-corrosion coatings through the forecast period.  Industrialization has exponentially increased across the world and is a prominent trend favouring anti corrosion coatings market potential through 2028

Rapid urbanization and industrialization in emerging economies are creating new opportunities for the anti-corrosion coatings market players and aiding the market growth. Increasing demand for light metallic components and increasing focus on safety is expected to propel anti corrosion coatings market growth through the forecast period.

Hazardous effects of certain chemicals used in anti-corrosion coatings are expected to constrain the adoption of these coatings and have a negative impact on the market growth. Stringent government mandates are expected to further constrain anti corrosion coatings companies from using such elements in formulation and hence hinder anti corrosion coatings market potential through 2028

Anti-Corrosion Coating companies have the opportunity of capitalizing on the sustainability trend as not many eco-friendly coatings are present in the current Anti Corrosion Coating market. Fluctuations in raw material pricing are also expected to act as a major restraining factor for the anti-corrosion coatings market growth in the long run.

The pandemic resulted in halted industrial activity on a global scale and this led to a downfall for the anti-corrosion coatings market growth in 2020. Shortage of raw materials and disrupted logistic operations were major concerns hindering the anti-corrosion coatings market potential in this period as they hampered the industrial sector.

The demand for anti-corrosion coatings is expected to make a comeback at a steady pace as industries resume their operations and lockdowns are lifted woing to subsiding coronavirus infections. With the world coming back to normal and economies trying to recover from losses industrial activity will see an increase and hence will propel anti corrosion coatings sales through the post-pandemic era and drive potential through 2028.

The global Anti Corrosion Coating market is segregated based on type, technology, end use industry, and region. Based on application, the global market is distinguished into Marine, Oil & Gas, Industrial, Infrastructure, Power Generation, and Automotive & Transportation. The oil and gas industry will be a major end use vertical for anti-corrosion coatings over the forecast period. Prolonged exposure to corrosive elements in this industry and high use of metal elements are expected to drive the demand for anti-corrosion coatings in this industry vertical over the forecast period.

Browse the full “Anti-Corrosion Coating Market by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, Chlorinated Rubber, Others), By Technology (Solvent-borne, Waterborne, Powder Coating), By End-Use Industry (Marine, Oil & Gas, Industrial, Infrastructure, Power Generation, Automotive & Transportation), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/anti-corrosion-coating-market

Asia Pacific region is expected to be the most rewarding market for anti-corrosion coatings companies over the forecast period. Increasing industrial activity and the rising establishment of chemical processing and manufacturing facilities is anticipated to be a major driver for the anti-corrosion coatings marketplace through 2028. Increasing infrastructure development activities in China and India are also expected to boost the anti-corrosion coatings market potential in this region. Increasing urbanization and supportive government initiatives will also favor the anti-corrosion coatings market growth over the forecast period.

Key players functioning in the global Anti Corrosion Coating market include AkzoNobel N.V. (Netherlands), PPG Industries, Inc. (US), Axalta Coating Systems Ltd. (US), BASF SE (Germany), The Sherwin-Williams Company (US), Ashland Inc. (US), Hempel A/S (Denmark), Jotun (Norway), RPM International Inc. (US), and Kansai Paint Co., Ltd. (Japan).

Recent developments:

• In January 2020, Micro Powders Inc. a leading name in the paints and coatings industry announced the launch of its new Advantage Graphene liquid coatings roofing system that is equipped with anti-corrosion properties and expected to see high demand in industrial construction applications.

Global Anti Corrosion Coating market is segmented as follows:

By Type

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

By Technology

• Solvent-borne
• Waterborne
• Powder Coating

By End-Use Industry

• Marine
• Oil & Gas
• Industrial
• Infrastructure
• Power Generation
• Automotive & Transportation

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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