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(IT-NEWSWIRE.COM, July 02, 2024 ) The report "Anti-Corrosion Coating Market by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc), Technology (Solvent borne, Waterborne, Powder-based), End-Use Industry (Marine, Oil & Gas, Industrial, Infrastructure, Power Generation), & Region - Global Forecast to 2028" The anti-corrosion coating market is projected to grow from USD 34.8 billion in 2022 to USD 43.3 billion by 2028, at a CAGR of 3.6% during the forecast period.
Browse in-depth TOC on "Anti-Corrosion Coating Market”
130 - Market Data Tables
71 - Figures
208 - Pages
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Epoxy segment is expected to hold largest share of the anti-corrosion coating market during the forecasted period.
Epoxy is widely used in anti-corrosion coating because of its excellent adhesion, corrosion protection, and chemical resistance properties. It is also easy to process, has a low shrinkage point, and is adhesive to a wide array of substrates. Epoxy’s versatile formulation property leads to its wide application in adhesives, laminates, and composites along with anti-corrosion coatings. Shipbuilding and repair in the marine sector are the major applications of epoxy anti-corrosion coating. Infrastructure, oil & gas, and automotive are the other significant end-use industries of epoxy anti-corrosion coating. Epoxies have longer cure time depending on the solid content. However, their extended range of properties makes them the preferred coating for critical applications such as fuel cell, gas turbine engines, and heat exchangers.
Solvent borne coating technology segment hold the largest segment in overall anti-corrosion coating market during forecast period.
The solvent borne technology is the largest segment in the overall anti-corrosion coating market. Due to end-use industries including the automotive, infrastructure, and marine have a growing demand for it, the dominance is anticipated to last. Most traditional coatings are solvent borne and comprise roughly 25% solids in addition to a significant amount of organic solvents. The VOC, smell, and flammability of this technology are released. The block resistance feature is fantastic though.
Marine end-use industry accounted largest share of the global anti-corrosion coating market during forecasted period.
Marine anti-corrosion coatings are made specifically to withstand the most extreme conditions, including salt water, high temperatures, high pressure, and organic compounds. The sector needs innovation in the form of the creation of new products to extend the lifespan and performance of anti-corrosion coatings and shorten maintenance intervals.
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Asia Pacific region likely to account the largest share of the global anti-corrosion coating market during forecasted period.
The Asia Pacific is the largest anti-corrosion coating market, in terms of both, value and volume, and is projected to be the fastest-growing market during the forecast period. Asia Pacific was driven by the economic growth, which was followed by significant investment in a variety of sectors, including infrastructure, automotive & transportation, industrial, and power generation. The market in Asia Pacific is now the most promising and is anticipated to remain so in the foreseeable future. As a result of the low cost of labor and to meet local market demand, international manufacturers are also moving their production facilities to Asia Pacific.
Anti-Corrosion Coating Market Key Players
The key companies profiled in this report are PPG Industries, Inc. (US), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), Jotun A/S (Norway), Kansai Paints Co., Ltd. (Japan).
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