Anti-Corrosion Coatings Market Top Manufacture, Growth, Share Report, Size, Regional Analysis, Opportunities and Forecast to 2028

(The Express Wire via Comtex)

The global anti-corrosion coatings market size is estimated to register a healthy growth owing to increasing infrastructural activities. Fortune Business Insights, in its latest report, titled, “Anti-Corrosion Coatings Market Size, Share and Industry Analysis, By Type (Epoxy, Polyurethane, Acrylic, Alkyd), By Technology (Solvent-Borne, Water-Borne, Powder Coating), By Application (Marine, Industrial, Oil and Gas, Infrastructural, Automotive and Transportation) Others and Regional Forecast, 2021-2028.”, states that the rising automotive sector is driving the growth of the market during the forecast period.

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Anti-corrosion coatings are mainly used to protect several metal and other types of surfaces from natural degradation. Corrosive agents that include chemicals, moisture, or salt cause this natural degradation such as rust due to reaction. Globally, the industries such as oil and gas, petrochemicals, marine, and others suffer huge financial losses owing to corrosion. In addition to this, corrosion degrades the durability of structures rendering them weak and posing a threat to the property and life. However, anti-corrosion coating provides a barrier between the surface and the corrosion agents, while prolonging the structural built and improving its efficiency.

What are the Objectives of the Report?

The report covers quantitative and qualitative data at the global and regional level for the anti-corrosion coatings market. Furthermore, the report provides in-depth details about the factors such as drivers and restraints, challenges, and the opportunities that the market will go through 2019 and 2026. Moreover, the report provides a comprehensive analysis of the key companies proliferating in the market, and detailed information about the strategies adopted by the companies to gain market stronghold during the projected horizon. The information is obtained by trusted sources with key insights from industry experts by our lead research analyst using several methodologies such as PESTEL analysis, SWOT analysis, and other that will contribute to the growth of the market during the forecast period.

Drivers and Restraints:

Increasing Adoption of Epoxy-based Coating to Drive Market

Epoxy-based anti-corrosion coating have been in huge demand for several industrial as well as engineering application across the globe. Remarkable attributes such as superior adhesive properties, improved stability, and solvent resistance properties have propelled the use of epoxy-based coating across several industries. Furthermore, rising demand for epoxy coating specially the waterborne coatings from end-use industries is expected to drive the growth of the market during the forecast period. Moreover, increasing demand for the automotive industry is likely to drive the growth of the market in the forthcoming years.

On the contrary, the market may face restrictions considering fluctuation in process of raw materials and crude oil to some extent during the projected horizon.

Regional Analysis:

Boost in Automotive Sector in Europe to Surge Demand

Among the regions, Europe will witness significant growth for the market owing to improving automotive sector during the forecast period. On the other hand, North America is expected to register promising growth for the market in the forthcoming years. This is attributable to factors such as rising demand for oil and gas, marine, and power generation industries. In Latin America, increasing infrastructural and industrial activities will contribute to the growth of the market during the forecast period. Overall, the market in the Middle East and Africa is anticipated to boost owing to increasing oil exploration activities in the forthcoming years.

Competitive Landscape:

PPG Acquiring DEUTEK S.A. to Promote Growth

On January 2017, PPG Industries, a Pittsburg-based company, announced its acquisition of DEUTEK S.A., a leading Romanian coating manufacturer. The acquisition will expand the paint coating market for PPG, which was confined to a small presence for architectural coatings market before the deal. Several companies operating in the market are trying to maintain market presence. Adoption of strategies by the companies to gain major anti-corrosion coatings market revenue will drive the growth of the market during the forecast period. Additionally, to maintain market stronghold the companies are expanding their horizon through merger and acquisition that will contribute for the growth of the market between 2019 and 2026.

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Industrial Developments:

  • January 2017: AkzoNobel announces its expansion of powder coatings facility located in Chengdu, China. According to the company, the new site is anticipated to boost its production to cater the growing demand for its clients comprising several sectors such as automotive, furniture, construction, and IT industries.

List of the Companies Operating in the Market:

  • Akzo Nobel N.V.
  • PPG Industries Inc.
  • Axalta Coating Systems
  • The Sherwin-Williams Company
  • BASF SE
  • Kansai Paint Co. Ltd.
  • Valspar Corporation
  • Asland Inc.
  • Jotun
  • RPM International Inc.
  • Among others

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