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Anti-corrosion Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 110 Pages
  • April 2021
  • Region: Global
  • Mordor Intelligence
  • ID: 4772045
The market for anti-corrosion coatings is expected to expand at a CAGR of more than 5% during the forecast period. Major factors driving the market studied includes expansion of oil and gas activities in Asia-pacific and North America, modernization of infrastructure etc.
  • Regulations related to the VOCs, rise in prices of raw materials etc. are expected to hinder the growth of the market studied.
  • Power plants expected to provide growth to high-performance anti-corrosion coatings is likely to act as an opportunity in the future.

Key Market Trends

Increasing Demand from the Infrastructure Industry
  • The infrastructure segment accounts for the largest share in the market and is also estimated to be the fastest-growing segment.
  • Rails, bridges, and roads constitute major segments of the infrastructure. With the increase in population, expansions in infrastructure have become an inevitable part of socio-economic development.
  • There are various small-scale projects spread across Asia-Pacific and North America.
  • Apart from being the most populous nation in the world, China also has the largest number of railroad passengers.
  • Moreover, road projects in Asia-pacific are also set to help increase the consumption of anti-corrosion coatings. Bharathmala project, in India, and the ongoing Belt and Road project, in China, are some of the expansions observed in the market.
  • The aforementioned factors are expected to increase the demand for anti-corrosion coatings in the forecast period.

Asia-Pacific Region to Dominate the Market
  • The global shipbuilding industry is expected to register a CAGR of 3% to 5% through the next five years, with Asia-Pacific registering the highest growth.
  • In Asia-Pacific, though China, Japan, and South Korea lead the shipbuilding industry, new shipping hubs are appearing in Vietnam, India, and the Philippines.
  • Australia and New Zealand are both island nations and the geographical scale of Australia’s coastline and waterways have resulted in a large number of recreational, commercial, and defense vessels.
  • Furthermore, the oil and gas sector occupies a good share of the anti-corrosion coating market, in terms of revenue.
  • China is the leading importer and exporter of crude oil in the world, thus, any changes affecting the expansion activities related to the oil and gas sector are likely to have a significant impact on the coating market in China.
  • Thus, the various industry is growing in the region. Such development in varied activities is expected to drive the anti-corrosion coatings market in the forecast period.

Competitive Landscape

The anti-corrosion coatings market is consolidated, and the major companies include PPG Industries Inc., AkzoNobel NV, Nippon Paints, RPM International Inc., the Sherwin-Williams Company, etc.

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Table of Contents

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Drivers
4.1.1 Increasing Offshore Production Activities
4.1.2 Expansion of Oil and Gas Activities in Asia-Pacific and North America
4.1.3 Growing Marine Industry in Asia-Pacific
4.1.4 Modernization of Infrastructure
4.2 Restraints
4.2.1 Decline in the Mining Sector across Asia-Pacific and North America
4.2.2 Regulations Related to VOCs
4.2.3 Rise in Prices of Raw Materials
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 By Resin Type
5.1.1 Epoxy
5.1.2 Polyester
5.1.3 Polyurethane
5.1.4 Vinyl Ester
5.1.5 Other Resin Types
5.2 By Technology
5.2.1 Water-borne
5.2.2 Solvent-borne
5.2.3 Powder
5.2.4 UV-cured
5.3 By End-user Industry
5.3.1 Oil and Gas
5.3.2 Marine
5.3.3 Power
5.3.4 Infrastructure
5.3.5 Industrial
5.3.6 Aerospace and Defense
5.3.7 Transportation
5.3.8 Other End-user Industries
5.4 Geography
5.4.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.4.2 North America United States Canada Mexico Rest of North America
5.4.3 Europe Germany United Kingdom Italy France Rest of Europe
5.4.4 South America Brazil Argentina Rest of South America
5.4.5 Middle East & Africa Saudi Arabia South Africa Rest of Middle East & Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AkzoNobel NV
6.4.2 Arkema Group
6.4.3 BASF SE
6.4.4 Beckers Group
6.4.5 H.B. Fuller Company
6.4.7 Jotun
6.4.8 Kansai Paint Co. Ltd
6.4.9 Nippon Paints
6.4.10 PPG Industries Inc.
6.4.11 RPM International Inc.
6.4.12 Sika AG
6.4.13 The Sherwin-Williams Company
7.1 Increasing Investments in the Infrastructure Industry in the Emerging Economies of Asia-Pacific and South America
7.2 Power Plants Expected to Provide Growth to High-performance Anti-corrosion Coatings

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AkzoNobel NV
  • Arkema Group
  • Beckers Group
  • H.B. Fuller Company
  • Jotun
  • Kansai Paint Co. Ltd
  • Nippon Paints
  • PPG Industries Inc.
  • RPM International Inc.
  • Sika AG
  • The Sherwin-Williams Company