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Anti-Corrosion Coatings Market Study – Oil & gas sector will rise exponentially to 2025

Author : Ravi Chawat | Published Date : 2020-09-04 

The oil & gas sector has remained to be a constant contributor for the anti-corrosion coatings market as it finds substantial use in different instruments like drill pipes, oil storage tanks, and drill bits. These instruments are usually exposed to marshy land and underground water, making the use of anti-corrosion coatings vital to avert potential equipment damage.

Earlier in 2010, the oil & gas equipment business accounted for more than USD130 billion and is anticipated to cross USD 278 billion by 2025. Rapid growth and demand from this sector could massively benefit the anti-corrosion coating industry, currently led by players like Axalta Coating, Ashland, Hempel, AkzoNobel, Jotun, BASF, Kansai Paints, RPM International and PPG Industries.

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On the regional front, Asia Pacific is considered to be a lucrative ground for anti-corrosion coating companies. Countries like India, Japan, and China would play a significant role in driving the demand for these coatings, helping the region register gains over 5% by 2025. This remarkable growth can majorly be contributed to the region’s prospering construction sector.

Anti-corrosion coatings market is poised to garner lucrative growth owing to the rapidly developing global renewable energy sector. These coatings are used to protect energy-generating instruments from severe climatic conditions. For example, solar power, which is emerging as a promising energy sector, is mostly impacted by ambient air moisture.

Anti-corrosion coatings help mitigate such weathering effects in order to protect important and expensive instruments. Experts predict that the demand for clean energy would skyrocket over the coming years as the global population crosses 9 billion by the year 2040. This could present new growth opportunities for anti-corrosion coatings companies in the long run.

Get Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/anti-corrosion-coatings-market

According to a report published by Global Market Insights, Inc., the anti-corrosion coatings market might surpass USD 20.21 billion by the end of 2025. However, complex product development process for specific application and the requirement to meet necessary performance standards as well as various stringent environmental regulations may impede market size.

In terms of end-use, the anti-corrosion coatings market is majorly segmented into shipbuilding, oil & gas, industrial markets, infrastructure, construction, transport, energy, and others. The global construction sector is projected to record huge revenues and is estimated to touch USD 16 trillion by 2025, while registering gains over 7%. Earlier in 2015, the sector was valued more than USD 8 trillion.

Major key players are in market are Akzonobel, Ashland, Axalta Coating, BASF, Hempel, Jotun, RPM International, Kansai Paints, PPG Industries, The Sherwin-Williams Company, Chugoku Marine Paints, Nippon Paints, Tnemec, Sokema, AICA Kogyo, AnCatt, Valspar.

Browse More News;

https://www.prnewswire.com/news-releases/powder-coating-market-to-exceed-usd-17-bn-by-2025-global-market-insights-inc-300940763.html

https://www.prnewswire.com/news-releases/coil-coatings-market-value-to-hit-4-5-billion-by-2026--says-global-market-insights-inc-300977365.html

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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