The global anti-corrosion coating market was valued at $14,276 million in 2015, and is expected to reach $26,627 million by 2022, growing at a CAGR of 9.7% from 2016 to 2022. Corrosion leads to spontaneous reaction between a material and its environment, resulting in deterioration of mechanical properties of the material. Anti-corrosion coatings prevent this deterioration of materials, such as composites, alloys, metals, polymers, and ceramics, which occurs due to oxidation, moisture, salt spray, industrial chemicals, or exposure to various environmental conditions. These coatings possess properties such as abrasion resistance, gloss retention, and are lightweight, thus improving the lifespan and performance of the materials. Use of these coatings results in increased efficiency of industrial operations, cost reduction, conservation of scarce material resources, and reduction in pollutant emissions. An anti-corrosion coating functions by forming a barrier between the substrate material and environment, inhibiting the corrosion processes.
Steel is among the major raw materials employed in the construction & automotive industry. Increase in investment in construction activities across emerging economies, such as India, China, and Brazil, and development of automotive market drive the market growth. Rapid urbanization has transformed these regions into manufacturing hubs of chemical plants, oil refineries, paper mills, and others, which are major consumers of these coatings.
Usage of solvent-borne anti-corrosion coatings containing other toxic heavy metals has declined progressively in the last decade due to stringent environmental regulations from agencies such as Environmental Protection Agency (EPA) of the U.S. and Registration Evaluation Authorization and Restriction of Chemicals (REACH) of Europe.
High energy demand is expected to create new opportunities for anti-corrosion coating manufacturers in the energy sector, including oil & gas, power plants, wind turbines, solar, and others. These coatings protect oil & gas containers, pipes, rotor blades, towers, solar panels, and other equipment from extreme environmental conditions.
The global anti-corrosion coating market is segmented based on type, technology, end-user industry, and geography. By type, the market is classified into epoxy, polyurethane, acrylic, alkyd, zinc, chlorinated rubber, and others (silicates, fluorocarbons, co-polymers, graphene, ceramic, and glass flakes). On the basis of technology, it is categorized into solvent-borne, waterborne, powder, and other anti-corrosion coatings. According to end-user industry, it is divided into marine, oil & gas, industrial, construction, energy, automotive, and others. The energy end-user industry is subsegmented into power plants, solar energy, and wind turbines. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players profiled in this study are as follows:
Akzo Nobel N.V.
Kansai Paints Co. Ltd.
Nippon Paints Co. Ltd.
PPG Industries, Inc.
The Sherwin-Williams Company
The Dow Chemical Company
Wacker Chemie AG
KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global anti-corrosion coating market to elucidate the growth opportunities and the probable investment pockets.
It offers qualitative trends as well as quantitative analysis from 2014 to 2022 to assist the stakeholders to understand the market scenario.
In-depth analysis of the key segments demonstrates the consumption of anti-corrosion coatings across various end-user industries.
Competitive intelligence highlights the business practices followed by key business players across the geographies and the prevailing market opportunities.
Key players are profiled along with their strategies and developments to portray the competitive market outlook.
KEY MARKET SEGMENTS
Others (Silicates, Fluorocarbons, Copolymers, Graphene, Ceramic, and Glass Flakes)
Others (High-Energy Cure Coatings and Nanocoatings)
By End-User Industry
Oil & Gas
Others (Pipes & Tanks and Wastewater Treatment Plants)
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
1.1.1. Key Benefits For Stakeholders
1.1.2. Key Market Segments
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
1.2.3. Analyst Tools And Models
Chapter 2 Executive Summary
2.1. Key Findings Of The Study
2.2. CXO Perspective
Chapter 3 Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top Investment Pocket, By Type
3.3. Porter's Five Forces Analysis
3.3.1. Bargaining Power Of Suppliers
3.3.2. Bargaining Power Of Buyers
3.3.3. Threat Of New Entrants
3.3.4. Threat Of Substitutes
3.3.5. Intensity Of Competitive Rivalry
3.4. Market Dynamics
188.8.131.52. Increase In Awareness Regarding Ecofriendly Products
184.108.40.206. Increase In Investment Across End User Industries
220.127.116.11. Superior Performance Of Anti-Corrosion Powder Coating
18.104.22.168. Limitations Of Epoxy Anti-Corrosion Coating
22.214.171.124. Government Regulations
126.96.36.199. Increase In Demand Of Anti-Corrosion Coating In Marine Industry To Improve Efficiency
188.8.131.52. Increase In Application Of Anti-Corrosion Coating In Solar And Wind Energy Industry
3.5. Patent Analysis
3.5.1. Patent Analysis By Year
3.5.2. Patent Analysis By Region
3.5.3. Patent Analysis By Company
3.5.4. Regulatory Scenario
Chapter 4 Global Anti-Corrosion Coating Market, By Type
4.1.1. Market Size And Forecast
4.2. Epoxy Anti-Corrosion Coating
4.2.1. Key Market Trends, Growth Factors And Opportunities
4.2.2. Market Size And Forecast
4.3. Polyurethane Anti Corrosion Coating
4.3.1. Key Market Trends, Growth Factors And Opportunities
4.3.2. Market Size And Forecast
4.4. Acrylic Anti-Corrosion Coating
4.4.1. Key Market Trends, Growth Factors And Opportunities
4.4.2. Market Size And Forecast
4.5. Alkyd Anti-Corrosion Coating
4.5.1. Key Market Trends, Growth Factors And Opportunities
4.5.2. Market Size And Forecast
4.6. Zinc Anti-Corrosion Coating
4.6.1. Key Market Trends, Growth Factors And Opportunities
4.6.2. Market Size And Forecast
4.7. Chlorinated Rubber Anti-Corrosion Coating
4.7.1. Key Market Trends, Growth Factors And Opportunities
4.7.2. Market Size And Forecast
4.8.1. Key Market Trends, Growth Factors And Opportunities
4.8.2. Market Size And Forecast
Chapter 5 Anti-Corrosion Coating Market, By Technology
5.1.1. Market Size And Forecast
5.2. Solvent-Borne Anti-Corrosion Coating
5.2.1. Key Market Trends, Growth Factors And Opportunities
5.2.2. Market Size And Forecast
5.3. Water-Borne Anti-Corrosion Coating
5.3.1. Key Market Trends, Growth Factors And Opportunities
5.3.2. Market Size And Forecast
5.4. Power Coating
5.4.1. Key Market Trends, Growth Factors And Opportunities
5.4.2. Market Size And Forecast
5.5.1. Key Market Trends, Growth Factors And Opportunities
5.5.2. Market Size And Forecast
Chapter 6 Anti-Corrosion Coating Market, By End-User Industry
6.1.1. Market Size And Forecast
6.2.1. Key Market Trends, Growth Factors And Opportunities
6.2.2. Market Size And Forecast
6.3. Oil & Gas
6.3.1. Key Market Trends, Growth Factors And Opportunities
6.3.2. Market Size And Forecast
6.4.1. Key Market Trends, Growth Factors And Opportunities
6.4.2. Market Size And Forecast
6.5.1. Key Market Trends, Growth Factors And Opportunities
6.5.2. Market Size And Forecast
6.6.1. Key Market Trends, Growth Factors And Opportunities
6.6.2. Power Plants
6.6.3. Solar Energy
6.6.4. Wind Energy
6.6.5. Market Size And Forecast
6.7.1. Key Market Trends, Growth Factors And Opportunities
6.7.2. Market Size And Forecast
6.8.1. Key Market Trends, Growth Factors And Opportunities
6.8.2. Market Size And Forecast
Chapter 7 Anti-Corrosion Coating Market, By Geography
7.1.1. Market Size And Forecast
7.2. North America
7.2.1. Key Market Trends, Growth Factors, And Opportunities
7.2.2. Market Size And Forecast
7.2.4. Market Size And Forecast, By Type
7.2.6. Market Size And Forecast, By Type
7.2.8. Market Size And Forecast, By Type
7.3.1. Key Market Trends, Growth Factors, And Opportunities
7.3.2. Market Size And Forecast
7.3.4. Market Size And Forecast, By Type
7.3.6. Market Size And Forecast, By Type
7.3.8. Market Size And Forecast, By Type
7.3.10. Market Size And Forecast, By Type
7.3.12. Market Size And Forecast, By Type
7.3.13. Rest Of Europe
7.3.14. Market Size And Forecast, By Type
7.4.1. Key Market Trends, Growth Factors, And Opportunities
7.4.2. Market Size And Forecast
7.4.4. Market Size And Forecast, By Type
7.4.6. Market Size And Forecast, By Type
7.4.8. Market Size And Forecast, By Type
7.4.10. Market Size And Forecast, By Type
7.4.11. Rest Of Asia-Pacific
7.4.12. Market Size And Forecast, By Type
7.5.1. Key Market Trends, Growth Factors, And Opportunities
7.5.2. Market Size And Forecast
7.5.4. Market Size And Forecast, By Type
7.5.6. Market Size And Forecast, By Type
7.5.8. Market Size And Forecast, By Type
7.5.10. Market Size And Forecast, By Type
7.5.11. Rest Of Lamea
7.5.12. Market Size And Forecast, By Type
Chapter 8 Company Profile
8.1. 3M Co.
8.1.1. Company Overview
8.1.2. Operating Business Segments
8.1.3. Business Performance
8.1.4. Key Strategies And Developments
8.2. Akzonobel N.V.
8.2.1. Company Overview
8.2.2. Operating Business Segments
8.2.3. Business Performance
8.2.4. Key Strategies And Developments
8.3. Basf Se
8.3.1. Company Overview
8.3.2. Operating Business Segments
8.3.3. Business Performance
8.3.4. Key Strategies And Developments
8.4. Hempel A/S
8.4.1. Company Overview
8.4.2. Operating Business Segments
8.4.3. Business Performance
8.4.4. Key Strategies And Developments
8.5. Kansai Paints Co. Ltd.
8.5.1. Company Overview
8.5.2. Operating Business Segments
8.5.3. Business Performance
8.5.4. Key Strategies And Developments
8.6. Nippon Paints Co. Ltd.
8.6.1. Company Overview
8.6.2. Operating Business Segments
8.6.3. Business Performance
8.6.4. Key Strategies And Developments
8.7. Ppg Industries, Inc.
8.7.1. Company Overview
8.7.2. Operating Business Segments
8.7.3. Business Performance
8.7.4. Key Strategies And Developments
8.8. The Sherwin Williams Company.
8.8.1. Company Overview
8.8.2. Operating Business Segments
8.8.3. Business Performance
8.8.4. Key Strategies And Developments
8.9. The Dow Chemical Company
8.9.1. Company Overview
8.9.2. Operating Business Segments
8.9.3. Business Performance
8.9.4. Key Strategies And Developments
8.10. Wacker Chemie Ag
8.10.1. Company Overview
8.10.2. Operating Business Segments
8.10.3. Business Performance
8.10.4. Key Strategies And Developments
Anti-corrosion coatings are used to combat the occurrence and progression of corrosion on a metal substrate. In addition, it offers high mechanical strength, high chemical & temperature resistance, wear & tear resistance, high permeability, and superior finishing ability to the metal structures.
Increased globalization is a key factor that affects the anti-corrosion coating industry. Rapid economic growth in India and China has led to increased construction activities, resulting in high consumption of anti-corrosion coatings. As majority of the countries in Asia-Pacific are still largely rural, the economic growth is set to fuel the ongoing urbanization, transforming India and China into manufacturing hubs for marine, automobile, food & beverages, pharmaceutical, and chemical industries. Moreover, increase in population in these countries is expected to boost the demand for housing & commercial infrastructure, which in turn is projected to drive the anti-corrosion coatings market growth.
Solvent-borne anti-corrosion coating segment was the largest revenue generator in 2015, as these coatings are widely used in several applications. However, it is expected to witness a downturn due to the stringent regulations imposed by government bodies such as Environmental Protection Agency (EPA) of U.S. and Registration Evaluation Authorization and Restriction of Chemicals (REACH) of Europe. Waterborne and powder anti-corrosion coatings are gaining popularity owing as they possess low levels of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs).
Key findings of the Anti-Corrosion Coating Market :
The marine end-user segment occupied the highest share in 2015, and is expected to grow at a CAGR of 9.9%, in terms of value, during the forecast period.
Asia-Pacific is the leading consumer of anti-corrosion coatings, accounting for approximately more than one-third share of the global market, followed by North America.
The acrylic anti-corrosion coating type is expected to witness the highest CAGR of 10.4%.
Solvent-borne anti-corrosion coating segment accounted for more than three-fifths of the global anti-corrosion coating market in 2015.
China is the leading market in the Asia-Pacific region, growing at a CAGR 10.4%.
Asia-Pacific accounted for the largest market share in 2015, and is projected to grow at the highest CAGR, owing to high economic growth, which is expected to boost the ongoing urbanization. Rise in investments in marine, construction, automotive, and energy industries in India and China, owing to shift in the industry trends, is projected to drive the anti-corrosion coating market.
The prominent players profiled in this report include 3M Co., Akzo Nobel N.V., BASF SE, Hempel A/S, Kansai Paints Co., Ltd, Nippon Paints Co. Ltd., PPG Industries, Inc., The Sherwin-Williams Company, The Dow Chemical Company, and Wacker Chemie AG.
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.