Global Corrosion Protective Coatings Market by Types, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Corrosion Protective Coatings Market was valued at USD 12.5 Billion in 2015, growing at CAGR of 7.2% over 2020–2026. Growing use of epoxy-based paints and coatings in production industries, surging demand in ships and naval sector, rising demand for waterborne products on account of low flammability and reduced emissions of toxic gases are factors driving the market.

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Corrosion protective coatings are mainly used to protect various metal instruments against deterioration due to moisture, salt spray, oxidation or exposure to different industrial chemicals. Corrosion protective coatings create a thin coating on a surface which avoids moisture to come in contact with metal surface thus preventing corrosion. It offers excellent adhesion to resist abrasion and corrosion. Therefore, corrosion protective coatings are utilized on large scale in various end-use industries across the globe. Corrosion protective coatings are applied to increase the durability and performance of equipment. Owing to its multiple features, they are employed/used in multiple applications such as marine, automotive, construction and building, industrial, aerospace, defense, and others.

Corrosion protective coatings are no toxic or less content that is produced by considering environmental regulations are expected to reduce harmful gases emissions in environment. These are some additional factors help to endorse corrosion protective coatings globally. Corrosion protective coatings are utilized in marine applications and multiple industrial applications where atmosphere is deteriorating and corrosive.

Market Dynamics:

Increasing demand for corrosion protective coatings in the construction industry due to their low prices and effective application for the protection of metal is driving the market growth. Additionally, the boom in construction industries in Asia Pacific and the Middle East & Africa is fueling the demand for these coatings.
Factor such as the need to protect high-value assets from any external damages and rise in maintenance costs have resulted in increased demand for corrosion protective coatings. This, in turn, is projected to drive the market growth.