Anticorrosion Coatings Market

The global anticorrosion coatings market was valued at approximately US$ 27.93 billion in 2024 and is projected to reach around US$ 41.36 billion by 2031, with an estimated CAGR of 5.9% from 2025 to 2031.

MARKET ANALYSIS

The growth of the industrial sector, especially in oil and gas, petrochemicals, power generation, and water and wastewater treatment, drives the demand for anticorrosion coatings. The oil & gas sector is a significant contributor to the expanding anticorrosion coatings market. With substantial oil reserves in nations like Saudi Arabia, Iraq, Iran, and the UAE, there is a persistent need for corrosion protection in pipelines, storage tanks, offshore platforms, and refineries. The extreme environmental conditions in these regions, characterized by high temperatures and humidity, further amplify the demand for effective anticorrosion coatings. The need for high-performance coatings has surged globally, as this region serves as a central hub for oil & gas production. The global anticorrosion coatings market is expected to grow significantly by 2031, driven by the robust expansion of the building & construction industry. Key factors propelling market growth include the strong presence of the oil & gas sector and the increasing demand for anticorrosion coatings from the automotive industry.

Ongoing infrastructure developments worldwide, including construction projects and industrial facilities, are fueling the demand for high-performance anticorrosion coatings. Additionally, the rising importance of marine applications, such as shipbuilding and offshore structures, has been a significant factor in the growth of the anticorrosion coatings market. As the industry progresses, there is a noticeable trend towards eco-friendly formulations and coatings with advanced features like self-healing and sensing capabilities.

GROWTH DRIVERS AND CHALLENGES

The strong presence of the oil & gas industry and the increasing demand for anticorrosion coatings from the automotive sector are key contributors to the growth of the anticorrosion coatings market. Various regions globally play a crucial role in oil production. Countries like Saudi Arabia, Iran, the UAE, and other oil-producing nations in the Middle East & Africa are among the largest oil producers. The availability of oil reserves is vital for the economic development of these countries, as their economies heavily rely on the oil sector. Furthermore, the building & construction industry is consistently expanding worldwide. In April 2016, Saudi Arabia introduced its Vision 2030 initiative to diversify its economy, modernize governance, and implement significant reforms across various sectors, aiming to enhance the construction sector's contribution to the overall GDP. However, there are health and safety concerns associated with anticorrosion coatings that may impede market growth. Volatile organic compounds (VOCs) present in these coatings can evaporate into the air, posing inhalation risks to individuals nearby.

Strategic Insights

REPORT SEGMENTATION AND SCOPE

The Global Anticorrosion Coatings Market Analysis and Forecast to 2031 is a comprehensive study focusing on global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed segmentation based on resin type, technology, end-use, and country. It includes key statistics on the use of anticorrosion coatings across regions and their demand in major countries. Additionally, it offers a qualitative assessment of various factors influencing the growth of the anticorrosion coatings market in key countries. A thorough analysis of leading market players and their strategic developments is also included. The report analyzes market dynamics to identify key driving factors, trends, and lucrative opportunities that can help pinpoint major revenue pockets.

The ecosystem analysis and Porter’s five forces analysis provide a comprehensive view of global anticorrosion coatings market trends, aiding in understanding the entire supply chain and various factors affecting market growth.

SEGMENTAL ANALYSIS

The global anticorrosion coatings market is segmented by resin type, technology, and end-use. By resin type, the market includes epoxy, polyurethane, acrylic, alkyd, vinyl ester, and others. The epoxy segment holds the largest market share in anticorrosion coatings. Epoxy anticorrosion coatings, made primarily from epoxy resins, are thermosetting polymers that provide strength and durability to the protective layer they form. Used across various industries such as oil & gas, maritime, automotive, and infrastructure, epoxy coatings act as a primary defense for metal surfaces. The application process involves mixing epoxy resins with curing agents to create a chemically resistant and adhesive compound. Once applied, these coatings harden into a robust, impermeable barrier that protects metal surfaces from corrosive agents, preventing oxidation and degradation over time. By technology, the market is divided into solvent-borne, water-borne, and others, with the water-borne segment holding the largest market share. Solvent-borne anticorrosion coatings are advanced formulations designed to offer strong protection against corrosion, particularly on metal surfaces. These coatings utilize organic solvents to carry a carefully crafted blend of components, including resins, pigments, and corrosion inhibitors.

The solvent component is crucial for application, allowing for easy spreading and ensuring uniform coverage on the substrate. Upon application, solvents help distribute the coating evenly, penetrating surface irregularities to create a seamless protective film. By end-use, the market is segmented into marine, oil and gas, power, automotive, building and construction, aerospace and defense, and others. The use of anticorrosion coatings in the marine sector is essential for maintaining the structural integrity and longevity of vessels and marine structures exposed to harsh and corrosive environments. Seawater, with its high salt content, poses a significant threat to metal components, making corrosion a widespread issue. To combat this, anticorrosion coatings are applied to these components, specifically formulated to resist the corrosive effects of saltwater, moisture, and atmospheric conditions.

In marine applications, anticorrosion coatings are extensively used on ship hulls, offshore platforms, pipelines, and other submerged or exposed metallic structures. These coatings serve as protective barriers, preventing corrosive elements from contacting the metal surface. In the oil & gas industry, anticorrosion coatings are vital for protecting infrastructure and equipment from the corrosive challenges presented by harsh operating environments. Pipelines, storage tanks, drilling equipment, and various components in the oil & gas sector are continually exposed to corrosive elements such as moisture, corrosive gases, and chemicals.

REGIONAL ANALYSIS

The report offers a detailed overview of the global anticorrosion coatings market concerning major regions, including North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). Asia Pacific held the largest market share in anticorrosion coatings, in 2024. The Middle East & Africa is home to numerous oil & gas manufacturers and serves as a hub for mid-sized businesses in the region. The market in Europe is projected to grow at a significant rate by 2031. The anticorrosion coatings market in the Middle East & Africa is expected to grow at a CAGR of approximately 5% from 2025 to 2031. The demand for high-performance coatings has significantly increased globally due to the expansion of oil & gas infrastructure. According to the National Iranian Oil Company, Iran possesses around 158 billion barrels of crude oil reserves. Data from Gachsaran Oil & Gas Production Company indicates that the oil field, operational since 1930, currently produces 650,000 bpd (Barrels Per Day) of oil.

Anticorrosion Coatings Market Report Scope

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Prominent players profiled in the anticorrosion coatings market report include RPM International Inc, The Sherwin-Williams Co, Akzo Nobel NV, Jotun AS, PPG Industries Inc, 3M Co, The Progressive Center Co for Construction Chemicals Ltd, Nippon Paint Holdings Co Ltd, BASF SE, and HB Fuller Co. Additionally, several other companies have been analyzed to provide a comprehensive view of the market and its ecosystem. The report also includes company positioning and concentration to assess the performance of competitors in the market.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Key initiatives undertaken by major players in the anticorrosion coatings market are outlined below:

In September 2023, H.B. Fuller Company acquired the UK-based Sanglier Limited, one of Europe's largest manufacturers and fillers of sprayable industrial adhesives. This acquisition enhances H.B. Fuller's innovation capabilities and product portfolio across the UK and Europe, particularly in the Construction Adhesives and Engineering Adhesives sectors. It complements technologies acquired through previous acquisitions and spray capabilities developed in the US. A team of nearly 60 employees will join H.B. Fuller's existing Construction Adhesives global business unit.

In March 2023, PPG Industries launched the PPG ENVIROCRON Primeron primer powder portfolio, designed to offer high corrosion resistance for metal substrates, including steel, hot-dip galvanized steel, metalized steel, and aluminum. These products are tested according to corrosivity categories and are approved by the QUALISTEELCOAT international quality label for coated steel. The product range includes ZINC coating, PRO coating, EDGE coating, and FLEX coating.

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