The global Corrosion Protective Coatings Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Corrosion Protective Coatings Market is estimated to grow significantly in the forecast period owing to its wide applications in industries like marine, oil & gas, automotive, etc. Corrosion protective coatings are available in the form of powder coatings or paints, which are applied to steel to offer protection from corrosion, abrasion, chemical, thermal and ultraviolet degradation. They are used in areas of extreme environments like salt water, heat or any kind of severe climatic conditions.
Key Players:
- PPG Industries Inc.
- The Sherwin-Williams Company
- Ashland
- Hempel A/S
- International Paint Limited
- Jotun A/S
- Steuler-KCH GmbH
- Axalta Coating System
- BASF Coatings
- Koch Knight LLC
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Growth Drivers:
Corrosion protective coatings industry is driven by wide application of the product in several end use industries. Emerging economies of Asia Pacific region are using corrosion protective coatings for defense sectors like navy (ships). Investments for the same is witnessing progress over the recent years. These factors are expected to drive corrosion protective coatings market substantially in the near future. Implementation of strict government policies is impelling research and development activities in the market. However, introduction and growth of eco-friendly waterborne items as an alternative to solvent borne coatings are hampering the market growth of corrosion protective coatings.
Material Outlook:
- Alkyd
- Acrylic
- Epoxy
- Polyurethane
- Zinc
Soft rubber lining segment is expected to hold larger market share of corrosion protective coatings owing to increasing number of application.
Technology Outlook:
- Solvent Borne Epoxy
- Waterborne Epoxy
- Solids Epoxy
Water borne protective coatings are expected to the market of lead corrosion protective coatings since they are extensively used in multiple industrial applications like oil & gas, marine and others.
Application Outlook:
- Marine
- Oil & Gas
- Construction
- Industrial
- Automotive
Owing to the increase in demand for commercial ships due to growing tourism and automobile industry due to increase in demand, marine, transportation and automotive industries are expected to lead corrosion protective coatings market in the coming years.
Regional Insights:
Geographically, corrosion protective coatings industry is segmented as North America, Europe, Asia Pacific and Middle East & Africa. Asia Pacific is predicted to dominate the market of corrosion protective coatings owing to the speedy developments in shipbuilding, construction, manufacturing and automotive industries.
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