Global Anti-corrosion and Corrosion Resistant Coatings Market Insight

The Anti-corrosion and Corrosion Resistant Coatings is forecast to crazy increase over the next few years. According to the WK-chem Research “Global Anti-corrosion and Corrosion Resistant Coatings Professional Survey Report 2022, Forecast to 2027”, The increasing market demand in end-use industries such as marine, oil and gas, infrastructurehas a positive effect on the development of the global anti-corrosion coatings market. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.3% base on WK-chem Research regression analysis model.

Analysts’ Viewpoint：

"There are many leading companies in the anti-corrosion and corrosion coatings market, occupying a dominant position in the market. With the continuous expansion of the application range of anti-corrosion coatings, its technical requirements are also constantly improving. Providing excellent corrosion protection while maintaining environmental and human health will become the new trend." said Daniel, Senior analyst, Chemical & Material Market Research Center in WK-chem Research.

Market insight:

Anti-corrosion coatings are an indispensable tool in fighting the battle against rust. Used on everything from automobiles to bridges and tunnels, anti-corrosion coatings protect structures in some of the harshest environments. Anti-corrosion coatings protect metal components against degradation due to moisture, salt spray, oxidation, or exposure to a variety of environmental or industrial chemicals in a range of industries. Anti-corrosion coatings allow for added protection of metal surfaces and acts as a barrier to inhibit the contact between chemical compounds or corrosive materials. The global anti-corrosion coating market growth is expected to witness profitable opportunities during the forecast period, owing to factors such as increase is demand for steel in the construction & automotive industry. In addition, growing marine industry in Asia-Pacific and North America, and infrastructure upgrading across different regions boost the global demand for anti-corrosion coating during the forecast period. Unfortunately, many of these traditional coatings and paints carry health and safety risks for the industrial workers who come in contact with them. The risks also led to increase in government regulations which restrain the growth of anti corrosion coatings.?

Competition Landscape:

Some of the major players in the Anti-corrosion and Corrosion Resistant Coatings market are 3M, AkzoNobel, BASF, Hempel, Kansai Paints, Nippon Paints, PPG Industries, The Sherwin-Williams, Wacker Chemie, Clariant International, Ashland among others. May 26, 2022 – The Surface Treatment global business unit of BASF’s Coatings division, operating under the Chemetall brand, introduces a non-chrome pretreatment technology newly developed for the Asia Pacific market – Gardobond X 4802/2 RFU. It reduces VOC (volatile organic compounds) emission and meets the highest market standards for pre-painted coils used in construction and home appliance industries.

Segmentation of Anti-corrosion and Corrosion Resistant Coatings Market:

Based on product type, the Anti-corrosion and Corrosion Resistant Coatings market segment includes Water-Based Coatings and Solvent-Based Coatings. The water-based segment was the largest segment. The water-based corrosion protection coatings technology uses water as the primary solvent. The coating includes up to 80% water; therefore, no solvent is required when using this technology. It is environmentally friendly, as it emits lesser VOC. However, this technology needs to be further improved to enhance the performance of water-based coatings over solvent-based coatings and to decrease the cost of production. The solvent-based coatings have better adhesion, faster drying property, and widespread applications. However, the technology is being replaced by water-based technology due to environmental regulations that restrict the VOC emissions from solvents in coating systems. Moreover, with more and more emphasis on environmental-friendly coatings, various industry participants are seen to invest in research & development activities for the development of efficient and durable water-based anti-corrosion coatings. Based on Application, the market is segmented into Marine, Oil & Gas, Industrial, Construction, Energy, Automotive, Others. Oil & gas is projected to account for the largest share during the forecast period.?In this industry, corrosion protection coatings are used in the oil & gas pipelines (new & repair), which include land-based & offshore activities. The development of oil fields in the South China Sea and investments in oil & gas infrastructure in China, Japan, Indonesia, India, and other countries are projected to increase the demand for corrosion protection coatings. Anti-corrosion coatings are widely used in the infrastructure industry owing to their growing need to prevent the corrosion of metal structures. Steel and metal structures are widely prone to harsh environmental conditions and hence are coated in various combinations of anti-corrosion coatings to extend their durability.?

Anti-corrosion and Corrosion Resistant Coatings Market: Regional Analysis

On the basis of Geography, the Anti-corrosion and Corrosion Resistant Coatings market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia Pacific was the largest and fastest-growing region in the anti-corrosion coatings market. China led the Asia Pacific market, in terms of production and consumption. Some of the huge multinational giants and manufacturing ships have production bases in China, making it a major exporter to the rest of the world. Anti-corrosion coatings have a huge demand in Asia Pacific, particularly in South Korea, Japan, and China, due to the extensive demand from the shipping, energy, and infrastructural industries.

Cagr: 4.3%

Largest share area：Asia Pacific

Largest share country：China

Product Type：Water-Based Coatings and Solvent-Based Coatings

Application：Marine, Oil & Gas, Industrial, Construction, Energy, Automotive, Others

Leading Company：3M, AkzoNobel, BASF, Hempel, Kansai Paints