End-user industries covered include marine, oil and gas, industrial manufacturing, construction, energy, automotive and others. These sectors consume anticorrosion coatings for applications such as heat exchangers, cooling towers, boilers, effluent water treatment plants, pipelines, drill equipment and rails that require specialized coating technologies to deal with corrosion resistance boosting for operational performance to be delivered by each of these major assets. Every component of an asset has a lifetime cost attached to it, and the life cycle purely depends on the regular maintenance work performed on the asset.
The market segmentation is further classified into technology-based waterborne, solvent-borne, powder coating and others. Solvent-based anticorrosion coatings contain a high amount of VOCs that are hazardous to human health and the environment. Water-borne coatings are gaining in popularity due to their properties, such as low VOC content in comparison with solvent-borne coatings. Powder coatings are used for metal protective coating applications as they deliver superior results, and in terms of color they stay bright and fresh for a long period.
Revenues are reported and estimated from 2021 to 2027 and given for each product type and end-user with estimated values derived from the companies’ total revenues.
The report also includes a discussion of the leaders in each regional market. Further, it explains the major drivers and regional dynamics of the global market for anti-corrosion coatings and current industry trends.
The report offers a focus on the vendor landscape and concludes with profiles of the major vendors in the global market.
Report Includes
- 52 data tables and 31 additional tables
- An updated overview of the global market for anticorrosion coatings
- Estimation of the market size and analyses of global market trends, with data from 2021, estimates for 2022, with projections of compound annual growth rates (CAGRs) through 2027
- Detailed insights into factors driving and restraining the growth of the global anti-corrosion coatings market and a country-level market value analysis for each segment
- Highlights of the market potential of anticorrosion coatings, along with global market share analysis on the basis of product type, technology, end-user with major regions and countries involved
- Information on market opportunities, prospects and threats, new and upcoming technologies, regulatory developments, and demographic shifts that are affecting the market
- Industry value chain analysis of global anti-corrosion coatings market providing a systematic study of the key intermediaries involved, which could further assist stakeholders in formulating appropriate strategies
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies
- Comprehensive company profiles of the leading players of the industry, including The Dow Chemical Company, The Sherwin-Williams Company, Wacker Chemie AG, Hempel A/S, AkzoNobel N.V. and 3M
Table of Contents
Executive Summary
The global market for anti-corrosion coatings is driven by its increasing penetration beyond conventional applications across industries such as construction, automotive, transportation, consumer durables and industrial machineries.The majority of these end-user applications are in turn driven by consumers who contribute to each of these growth engines of the economy. Macroeconomic factors such as consumer confidence, purchase power, investment climate, manufacturing base expansion and trade relations are among the specific parameters that decide the growth of the market.
Demand for water-based coatings is expected to rise over the forecast period due to increasing awareness about the ill effects of solvent-based coatings and various regulations regarding volatile organic compounds (VOCs) and air pollutants that are harmful to the environment. The guidelines provided by regulatory bodies applicable to coatings manufacturers are stringent due to the carcinogenic and flammable properties of solvents. Therefore, powder- and water-based coatings are expected to gain in popularity over the forecast period due to their VOC-free properties.
Asia is expected to remain the prominent consumer of coatings and is expected to observe the fastest growth in the coming years due to the strength of its manufacturing base. In addition, the increasing competitiveness of regional end-user demand fueled by government initiatives to secure the local economy is expected to drive countries’ specific industrial output over the forecast period.
The architectural application segment is expected to grow due to increasing construction and infrastructure activities in the Asia-Pacific and Middle East regions. An increasing application scope in the architectural industry such as for interior and exterior walls, doors, trims and facades is expected to further drive the market. Strict government regulations restricting VOC emissions and solvent content are expected to boost the demand for water-borne anticorrosion coatings in the architectural industry. Increasing demand for maintenance works and special primers for concrete and metal structures are expected to drive demand for high-performance coatings.
Increasing middle-class income levels coupled with rising living standards in the emerging economies of Asia-Pacific and Central and South America are projected to fuel automotive sales. The low cost of production of water-borne coatings, coupled with the longer shelf life of powder coatings, is expected to drive the demand. Automotive refinishes are also expected to exhibit significant growth over the forecast period. Government regulations on the VOC content for automotive refinish coatings in Europe and North America are widely accepted as the manufacturers are specifying them for repair work on all vehicles sold
Metal packaging or metal coil coat is one of the application segments in the “others” category expected to witness considerable growth over the forecast period. Increasing demand for beverage cans and food cans in the food and beverage industry is expected to drive the market for water-borne anticorrosion coatings. Rising content specifications in the food and beverage industry are further expected to boost the demand over the forecast period.
Companies Mentioned
- 3M
- Akzonobel N.V.
- Basf Se
- The Dow Chemical Company
- Dupont De Nemours Inc.
- Hempel A/S
- Jotun
- Rpm International Inc.
- The Sherwin-Williams Company
- Wacker Chemie AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | April 2022 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value ( USD | $ 28.4 Billion |
| Forecasted Market Value ( USD | $ 34 Billion |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
