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Anti-Corrosion Coatings Market Size to witness substantial gains over 2019-2025, surging demand from oil & gas applications

Author : Ronak Bora | Published Date : 2019-08-08 

Anti-corrosion coatings market find extensive set of applications across various end-use sectors such as oil & gas, transport, shipbuilding, energy, and infrastructure. Global oil & gas equipment sector is anticipated to reach USD 278 billion by 2025. The expansion of this sector will create a positive roadmap for the anti-corrosion coatings industry, owing to its water proofing and corrosion resistance ability in oil storage tanks and in drilling pipes. Anti-corrosion coatings industry share in the energy sector is anticipated to register a CAGR of 5% over the period of 2016-2025.  The ability of these coatings to protect the surface against changing atmospheric conditions will drive its applications across hydropower, coal, biomass, solar power, and nuclear sector.

Shipbuilding is another lucrative application sector in anti-corrosion coatings industry which is predicted to witness a significant surge in the coming seven years. The ability of these coatings to provide corrosion protection, UV stability, anti-static, and durability effect to the ship surface will propel the anti-corrosion coatings market size across marine applications.

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The global construction industry was valued at over USD 8 trillion in 2015 and may reach USD 16 trillion by 2025, with estimated gains more than 7%. With technology innovation, the industry is witnessing escalating demand for metal-based structures, such as walls and prefabricated washrooms, in both commercial and residential constructions owing to boost anti-corrosion coatings market growth. Along with structural strength, it also offers value added aesthetic appearance to the overall structure.

Ethylene, benzene, toluene and naphthalene, are major raw materials for the industry and follow crude oil supply dynamics, which influence anti-corrosion coatings price trends. The industry is also directed by strict legislations towards VOC ingredients owing to hamper growth. Nevertheless, rising water based anti corrosive coatings demand will generate new growth avenues.

Based on the product segment, anti-corrosion coatings market size mainly comprises acrylic, chlorinated rubber, polyurethane, zinc, epoxy, and alkyd. Epoxy anti-corrosion coatings industry dominated the product segment in 2015 and is anticipated to grow significantly by recording a rate of 4.5% by 2025, owing to its notable corrosion resistance and excellent abrasive characteristics. Polyurethane based products collected a revenue of USD 3 billion in 2015 and will generate heavy demand over the coming timeline. The features such as broad color, shiny appearance, and anti-corrosive characteristics will fuel the demand for polyurethane anti-corrosion coatings.

Asia Pacific, particularly led by China, India and Japan, anti-corrosion coatings market will experience escalating gains more than 5%. The regional growth was mainly driven by robust growth in construction industry.

North America collected a revenue of USD 15 billion in 2015 and is expected to grow significantly over the coming years, owing to the high investment in the defense sector along with expanding oil & gas industry. U.S. will contribute noticeably towards the regional growth.

RPM International Incorporation, AkzoNobel, Hempel Group, Valspar Company, PPG Industries, Valspar Company, Ashland, Axalta Coating Systems, AICA Kogyo Company Limited, Chugoku Marine Paints Limited, BASF SE, Chugoku Marine Paints Limited, PPG Industries, and Nippon Paints are some prominent industry participants in the anti-corrosion coatings market.

Glimpse of Table of Content (ToC)

Chapter 4.        Anti-Corrosion Coatings Industry Product Insights

4.1.       Global anti-corrosion coatings market share by product, 2015 & 2025

4.2.       Epoxy

4.2.1.    Market estimates and forecast, 2010 - 2025

4.2.2.    Market estimates and forecast, by region, 2010 – 2025

4.3.       Polyurethane

4.3.1.    Market estimates and forecast, 2010 - 2025

4.3.2.    Market estimates and forecast, by region, 2010 – 2025

4.4.       Acrylic

4.4.1.    Market estimates and forecast, 2010 - 2025

4.4.2.    Market estimates and forecast, by region, 2010 – 2025

4.5.       Alkyd

4.5.1.    Market estimates and forecast, 2010 - 2025

4.5.2.    Market estimates and forecast, by region, 2010 – 2025

4.2.       Zinc

4.2.1.    Market estimates and forecast, 2010 - 2025

4.2.2.    Market estimates and forecast, by region, 2010 – 2025

4.6.       Chlorinated Rubber

4.6.1.    Market estimates and forecast, 2010 - 2025

4.6.2.    Market estimates and forecast, by region, 2010 – 2025

4.7.       Others

4.7.1.    Market estimates and forecast, 2010 - 2025

4.7.2.    Market estimates and forecast, by region, 2010 – 2025

Chapter 5.        Anti-corrosion coatings Industry Mode of Application Type Insights

5.1.       Global anti-corrosion coatings market share by mode of application, 2015 & 2025

5.2.       Solvent-Based

5.2.1.    Market estimates and forecast, 2010 - 2025

5.2.2.    Market estimates and forecast, by region, 2010 – 2025

5.3.       Water-Based

5.3.1.    Market estimates and forecast, 2010 - 2025

5.3.2.    Market estimates and forecast, by region, 2010 – 2025

5.4.       Powder

5.4.1.    Market estimates and forecast, 2010 - 2025

5.4.2.    Market estimates and forecast, by region, 2010 – 2025

5.5.       Others

5.5.1.    Market estimates and forecast, 2010 - 2025

5.5.2.    Market estimates and forecast, by region, 2010 – 2025

Browse complete Table of Contents (ToC) of this research report @ 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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