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Anti-Corrosion Coatings Market in construction industry to cross US$ 16 trillion by 2025

Author : Ronak Bora | Published Date : 2019-04-10 

The size of Anti-Corrosion Coatings Market was anticipated as 12 billion in the year 2018 and is predicted to touch 20.21 billion till 2025, rising with a CAGR of 5% between the years 2018 to 2025 as per the research done by Global Market Insights, Inc.

Global Anti-Corrosion Coatings Market in construction industry will grow at CAGR more than 7% by 2025. This portrays future requirement for new infrastructure as well as the maintenance of present constructions. The industry is subjected to consistent technological innovation and exhibits rising demand for metal-based structures like prefabricated washrooms and walls. Anti-corrosion coatings market will be significantly driven by construction and architectural applications, for their capabilities to deliver structural strength and value added aesthetic appearance to the structure.

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Robust growth in the oil & gas industry will further drive the market growth in the near future. The global oil & gas equipment market is projected to reach USD 278 billion by 2025. Also, the rising demand for energy production based on oil sands, oil shale, tar sands and shale gas will further propel the market.

The market is probable to witness certain growth restraints such as significant price volatility of petrochemical feedstock and severe environmental regulations which may undesirably influence anti-corrosion coatings market share in the near future. Also, stringent legislations towards (VOC) Volatile Organic Compounds ingredients used in the coatings applications such as toluene, ethylene, benzene and naphthalene might negatively affect the market growth. However, increasing demand and favorable government legislations for water based anti-corrosive coatings will generate new growth prospects.

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The key driver propelling the anti-corrosion coatings market is the globally escalating energy demand. The global population is expected to surpass 9.7 billion by 2050, which is likely to rouse demand for clean energy, consequently forging the industry growth. These coatings provide protection to the equipment associated with energy sector including solar, oil & gas, coal, biomass, hydro and nuclear. The market will witness high demand from these sectors in the forecast period.

Epoxy anti corrosion coatings are likely to grow with 4.5% over the forecast timeframe, holding the largest market share. The demand is attributed to the product features such as corrosion resistance, superior abrasion, higher bonding strength with concrete & steel. Polyurethane anti-corrosion coatings will also witness significant growth trends owing to their compatibility with wide temperature range up to 1100°C.

Asia Pacific region is expected to witness CAGR over 5% in the forecast period. The growth was mainly driven by the thriving regional construction industry, easy accessibility to workable anti-corrosion solutions and regional lower labor costs. The rising military and commercial shipbuilding activities in the in the region will also propel the market growth. The U.S. market share is likely to grow with gains over 4.5% by 2025.The regional growth will be driven by growing government military investment. Budding oil & gas sector in the region will further propel the market growth.

Major industry participants include BASF, Akzonobel, Hempel, Ashland, Jotun, Axalta Coating, Kansai Paints, The Sherwin-Williams Company, RPM International, PPG Industries and. Other prominent industry share contributors are Nippon Paints, Chugoku Marine Paints, Tnemec, Sokema, Valspar, AnCatt and AICA Kogyo

Browse key industry insights spread across 150 pages with 283 market data tables & 19 figures & charts from the report, “Anti-Corrosion Coatings Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/anti-corrosion-coatings-market

Glimpse of Table of Content (ToC)

 

Chapter 3.        Anti-Corrosion Coatings Industry Insights

3.1.       Industry segmentation

3.2.       Industry Size and forecast, 2010 - 2025

3.3.       Industry ecosystem analysis

3.4.       Industry Impact forces

3.4.1.    Growth drivers

3.4.1.1. Growing energy sector

3.4.1.2. Rise in commercial and military shipbuilding and maintenance activities in Asia Pacific

3.4.1.3. Increasing need for new infrastructure and maintenance of existing construction spaces along with growing demand for metal based structures

3.4.2.    Industry pitfalls & challenges

3.4.2.1. Fairly high price volatility of petrochemical feedstock

3.4.2.2. Stringent environmental regulations associated with anti-corrosion coatings

3.5.       Growth potential analysis

3.6.       Porter's analysis

3.7        Company market share analysis, 2015

3.8.       PESTEL analysis

3.9        Pricing trends

 

Browse Full TOC @ https://www.gminsights.com/toc/detail/anti-corrosion-coatings-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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