The report "Anti-Corrosion Coating Market
by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc), Technology
(Solvent, Water, Powder), End-Use Industry (Marine, Oil & Gas,
Industrial, Infrastructure, and Power Generation) - Global Forecast to
2022", The global anti-corrosion coating market is estimated
to be USD 24.84 Billion in 2017 and is projected to reach USD 31.73
Billion by 2022, at a CAGR of 5.0% from 2017 to 2022.
Rising losses due to corrosion are one of the most significant factors influencing the growth of the global anti-corrosion coating market. In addition, the growth of end-use industries such as power generation and automotive & transportation is further driving the demand for anti-corrosion coatings.
Based on region, the global anti-corrosion coating market has been segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and South America. The anti-corrosion coating market in the Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the increasing demand for anti-corrosion coating from the power generation and automotive & transportation industries in this region.
This research study involves the extensive use of secondary sources,
directories, and databases (such as Hoovers, Bloomberg BusinessWeek, and
Factiva) to identify and collect information useful for this technical,
market-oriented, and commercial study of the global anti-corrosion
coating market. Primary sources mainly include several industry experts
from core and related industries and preferred suppliers, manufacturers,
distributors, service providers, and organizations related to all
segments of the industry’s supply chain. After arriving at the overall
market size, the total market was split into several segments and
subsegments.
The fluctuating raw material cost is one of the major factors
restraining the growth of the global anti-corrosion coating market. A
majority of raw materials used for the production of anti-corrosion
coatings are derived from petroleum. Fluctuations in crude oil prices
impact the cost of raw materials such as acrylic, epoxies,
polyurethanes, and alkyds used in the production of anti-corrosion
coatings. Key players operating in the 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).
Rising losses due to corrosion are one of the most significant factors influencing the growth of the global anti-corrosion coating market. In addition, the growth of end-use industries such as power generation and automotive & transportation is further driving the demand for anti-corrosion coatings.
- The acrylic segment is expected to grow at the highest CAGR between 2017 and 2022
- The power generation segment is anticipated to be the fastest-growing end-use industry segment of the global anti-corrosion coating market
- Asia Pacific is anticipated to be the fastest-growing market for anti-corrosion coating during the forecast period
Based on region, the global anti-corrosion coating market has been segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and South America. The anti-corrosion coating market in the Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the increasing demand for anti-corrosion coating from the power generation and automotive & transportation industries in this region.
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| anti-corrosion coating market |
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