Anti-Corrosion Coatings Market by Competitive Landscape and Demand 2020 to 2030

Posted by Vedika on December 6th, 2020

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.

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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