Global Market Analysis for Anti-Corrosion Coating Market by Type, Technology and End-User Industry: Forecast 2020–2025
The global Anti-Corrosion Coating market size valued at $22.8 billion in 2020, and is projected to reach $41.2 billion by 2025, growing at a CAGR of 8.3% from 2020 to 2025.
Anti-corrosion coating slowdowns or prevents the electrochemical reactions that adversely decorate metals’ structural integrity and change their corrosion-induced appearance. This anti-corrosion coating property makes them applicable across diverse end-user industries such as marine, oil & gas, industrial, construction, energy (power plants, solar, wind turbines), automotive, and others. In addition, the report includes a detailed description of the different technologies used to produce anti-corrosion coating. Solvent borne, water borne, powder anti-corrosion coating, and high-energy cure coating are widely used technologies.
The global Anti-Corrosion Coating market growth is expected to witness profitable opportunities during the forecast period due to factors such as increasing demand for steel in the construction and automotive industries. In addition, increasing coastal growth, growth in the maritime industry in Asia Pacific and North America, and infrastructure upgrades in several regions are driving global demand for corrosion protection coatings over the expected period. However, the risk has also led to an increase in government regulations that inhibit the growth of anti-corrosion coatings. Moreover, research and development to produce bio-based anti-corrosion coatings is expected to provide profitable growth opportunities for the market.
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The global Anti-Corrosion Coating market is segmented on the basis of type, technology, end-user industry, and region. By type, the market is classified into epoxy, polyurethane, acrylic, alkyd, zinc, chlorinated rubber, and others (silicates, fluorocarbons, co-polymers, graphene, ceramic, and glass flakes). On the basis of technology, it is categorized into solvent-borne, waterborne, powder, and other anticorrosion coatings.
Some of the key players operating in the global Anti-Corrosion Coating market are AkzoNobel N.V., BASF SE, Hempel Holdings A/S, Kansai Paints Co. Ltd., NIPPON PAINT HOLDINGS CO. LTD., PPG Industries Inc., The Dow Chemical Company, The Sherwin-Williams Company, WackerChemie AG, and 3M.
According to end-user industry, it is divided into marine, oil & gas, industrial, construction, energy, automotive, and others. The energy end-user industry is sub segmented into power plants, solar energy, and wind turbines. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
This report clearly shows that the Anti-Corrosion Coating industry has grown significantly. Based on an in-depth assessment of the industry. The analysis provided in this report reveals key segments and strong insights that can help you determine new strategies that hold a strong position in the industry. In conclusion, the report is valued by stakeholders, investors, product managers, marketing executives, analysts who value unbiased information about supply, demand and future forecasts.
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