The Corrosion Protection Coatings market is projected to grow to USD 12.4 billion by 2028 from USD 10.4 billion in 2023, at a CAGR of 3.5% between 2023-2028. Rising demand for efficient processes and longer life of equipment in the industrial sectors boosts the Corrosion Protection Coatings market. This report provides a comprehensive analysis of the industry, including market size, share, corrosion protection coatings market trends, drivers and constraints, Competitive Aspects, and prospects for future growth.
Epoxy is the largest segment of the overall Corrosion protection coatings market.
Epoxy-based corrosion protection coatings have been widely used and are in high demand in various industries. Epoxy coatings are known for their excellent corrosion resistance and durability, making them suitable for applications in sectors such as infrastructure, marine, and oil and gas. Such coatings offer durability, versatility, adhesion, ease of application, and aesthetics along with good corrosion resistance. In many end-use industries, there are strict regulations and standards regarding corrosion protection. Epoxy coatings often meet or exceed these requirements, ensuring compliance and maintaining the integrity of structures or equipment.
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Water-based technology is the fastest-growing segment in the market during the forecast period.
Water is the main solvent in the water-based corrosion prevention coatings technology. Up to 80% of the coating is made of water. Therefore, when employing this technology, a solvent is not needed. In accordance with US and European laws, it produces fewer VOCs, which are less than 3.5 pounds per gallon of water, making it environmentally friendly.
To increase the performance of water-based coatings over solvent-based coatings and lower the cost of production, this technology is continuously developing. Currently, water-based corrosion protection coatings are costlier than solvent-based corrosion protection coatings. Polyacrylates, polyvinyl ethers, and polyurethane resins serve as the coating technology's binder materials.
Asia Pacific is the largest market for Corrosion Protection coatings globally during the forecast period
The global market for corrosion protection coatings is expanding at the quickest rate in Asia Pacific. Economic growth, followed by significant investment in a variety of sectors, including petrochemical, oil & gas, infrastructure, power generation, and industrial, are primarily responsible for this. The most potential market is in Asia Pacific, and it is likely to be the case in the foreseeable future. Additionally, to take advantage of the cheap labor and meet local market demand, international businesses are moving their production plants to Asia Pacific.
Corrosion Protection Coatings Companies
Major players in the global Corrosion Protection Coatings market have made many research breakthroughs across the value chain to focus on shifting client demands. Mergers and acquisitions, partnerships and agreements, and new product launches have all occurred at the companies. Some of the prominent market participants include Akzo Nobel NV (Netherlands), PPG Industries, Inc. (US), Jotun A/S (Norway), The Sherwin-Williams Company (US), and Kansai Paint Co., Ltd. (Japan).
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AkzoNobel N.V. is a a diversified chemical company operating its business through two major segments, namely, Decorative Coatings and Performance Coatings. Corrosion protection coating is produced under both segments. AkzoNobel N.V. has a strong customer base and operates in countries in Europe, North America, Asia Pacific, South America, and the Middle East. The company has over 28 manufacturing facilities and sales activities in more than 150 countries across the globe. It has a wide product portfolio which includes brands such as Dulux, Sikkens, Butanox, Elotex, International, and Interpon.
PPG Industries Inc. is a global manufacturer and supplier of paints, coatings, optical products, and specialty materials. It serves customers in the industrial, consumer products, transportation, and construction markets. PPG provides industrial and automotive coatings to manufacturing companies, adhesives & sealants to the automotive industry, metal pretreatments & related chemicals for industrial and automotive applications, and packaging coatings to aerosol, food & beverage container manufacturers. The company also delivers protective coating solutions for a wide range of industries. It has 156 manufacturing facilities worldwide. The company operates through two major segments, namely, Performance Coatings and Industrial Coatings. The company offers corrosion protection coatings through the Performance Coatings segment.
The company offers advanced coating systems that provide proven protection from corrosion, high temperatures, and fire; ensure durability and esthetic performance which protect valuable assets and meet the specific needs of any environment.
The global Corrosion Protection Coatings Market size is projected to grow from USD 6.9 billion in 2020 to USD 8.9 billion by 2025, at a CAGR of 5.3%.Worldwide, corrosion causes huge financial losses in many industries.Browse 111 market data Tables and 66 Figures spread through 236 Pages and in-depth TOC on "Corrosion Protection Coating Market by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, Chlorinated Rubber), Technology (Solvent, Water, Powder), End-Use Industry (Marine, Oil & Gas, Petrochemical, Infrastructure),And Region – Global Forecast to 2025"The epoxy based corrosion protection coatings to lead the market, by type, during the forecast period.Epoxy is estimated to lead the market during the forecast period.
It is widely used in corrosion protection coating because of its excellent adhesion, corrosion protection, and chemical resistance properties.
The properties of epoxy-based coatings can be enhanced by the suitable addition of additives and modifiers to meet the required specifications.
These properties make them ideal for use in metallic surfaces such as cast iron and aluminium.Shipbuilding and maintenance & repair in the marine sector are the major applications of epoxy corrosion protection coating.
PPG also delivers protective coating solutions for a wide range of industries.
The company has advanced coating systems that have proven protection from corrosion, high temperatures, and fire; ensures durability and aesthetic performance that will protect valuable assets and meets the specific needs of any environment.In February 2020, PPG collaborated with Dow on Sustainable Future Program to reduce carbon impacts.
OCT 09 2020: The global Aerospace and Defense Materials market size is expected to reach USD 28.37 billion by 2027, registering a revenue-based CAGR of 4.0% during the forecast period, according to a new report published by Grand View Research, Inc. Increasing investment in modernization along with expansion of combat aircraft fleet in countries, such as India and China is expected to drive the growth.The market is expected to benefit from the strong demand for aircraft in the foreseeable future.
The number of commercial and cargo fleets around the world is expected to double over the forecast period.
The huge surge in passenger and freight traffic is also anticipated to contribute significantly to the increase in aircraft production and demand for aerospace & defense materials.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/aerospace-and-defense-materials-market/request-sampleThe aerospace & defense industry has been a long-term promoting factor for the development and application of advanced materials.
Leading manufacturers are increasingly adopting a variety of advance materials such as carbon fiber composites and titanium alloys.
The material manufacturers provide highly customized solutions to the component and aircraft manufacturer.
Aircraft manufacturers are often involved in monitoring the materials throughout the value chain from design to component manufacturing to ensure the quality.Further key findings from the report suggest: Composites is expected to register the highest CAGR of 3.8% in terms of revenue, from 2020 to 2027, owing to the lightweight, high strength, and impact resistance characteristics of the productAerostructure is estimated to be the largest application segment.
Corrosion Protection Coatings Market is anticipated to grow at a CAGR of 5.7% during the forecast period from 2020 to 2028.
A corrosion protection coating is a covering applied to the surface of a material to stop corrosion.
"This Global Corrosion Protection Coatings Market report provides a thorough assessment of the industry and future prospects by : By Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, and Chlorinated Rubber), By Technology (Solvent, Water, and Powder), By End-Use Industry (Oil and Gas, Marine, Infrastructure, Petrochemical, Power Generation, and Others (Aerospace and Defense, Primary Metal and Mining Operations, and Others), import, key countries, export, and market dynamics.
Global Corrosion Protection Coatings Market report comprises growth drivers, market size, market opportunities, forecast, investment risks, and, emerging trends in numerous segments in the Global Corrosion Protection Coatings Market.
It offers a broad understanding of the Global Corrosion Protection Coatings Market subtleties in terms of both returns and capacity.Get More Information About This Report: https://www.quincemarketinsights.com/industry-analysis/corrosion-protection-coatings-marketCompanies Covered: Akzo Nobel N.V., PPG Industries, Inc., Jotun A/S, The Sherwin-Williams Company, Kansai Paint Co. Ltd., Hempel A/S, Chugoku Marine Paints, Axalta Coatings Systems, Nippon Paint Co., Ltd., Teknos, Advanced Nanotech labs, Ancatt Inc., The Magni Group, Inc., Secoa Metal Finishing LLCThe report also offers a complete outline of the market, along with SWOT analysis and tactics of each company in the Global Corrosion Protection Coatings Market, to offer understanding about the industry strengths and how these can be thoroughly studied to generate future growth prospects.Significant application areas of the Global Corrosion Protection Coatings Market are also valued on the basis of their performance.
Market forecasts along with numerical figures and analysis offered in the report render an assessment of the Global Corrosion Protection Coatings Market.
Anti-corrosion and Corrosion Resistant Coatings market is segmented by region (country), players, by Type, and by Application.
Players, stakeholders, and other participants in the global Anti-corrosion and Corrosion Resistant Coatings market will be able to gain the upper hand as they use the report as a powerful resource.
The segmental analysis focuses on revenue and forecast by region (country), by Type and by Application in terms of revenue and forecast for the period 2015-2026.Segment by Type, the Anti-corrosion and Corrosion Resistant Coatings market is segmented into:Water-Based CoatingsSolvent-Based CoatingsDownload FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/59360/global-china-anticorrosion-corrosion-resistant-coatings-2026-544Segment by Application, the Anti-corrosion and Corrosion Resistant Coatings market is segmented into:MarineOil & GasIndustrialConstructionEnergyAutomotiveOthersRegional and Country-level Analysis:The Anti-corrosion and Corrosion Resistant Coatings market is analysed and market size information is provided by regions (countries).The key regions covered in the Anti-corrosion and Corrosion Resistant Coatings market report are North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
It also covers key regions (countries), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.The report includes country-wise and region-wise market size for the period 2015-2026.
It also includes market size and forecast by Type, and by Application segment in terms of sales and revenue for the period 2015-2026.Competitive Landscape and Anti-corrosion and Corrosion Resistant Coatings Market Share Analysis:Anti-corrosion and Corrosion Resistant Coatings market competitive landscape provides details and data information by players.
The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020.
