Anti-corrosion coating can be described as the material utilized to safeguard the surfaces of metallic objects from chemical damage in harsh or dangerous external environments. Metals tend to react with air or water when constantly exposed to harsh weather elements. Such wear and tear results in a shortening of operation life and reduction in performance or efficiency. By utilizing anti-corrosive paint, manufacturers can circumvent extra expenses without compromising on quality of the end-product. Anti-corrosion is a significant factor when the material used in settings like oil and gas drilling activities are considered. Anti-corrosion coatings end up protecting various metallic equipment for a long time and play a big part in effectively improving their lifespan. Thus, the Anticorrosion Coatings Market is in a tremendous shape to register strong growth during the forecast period of 2016-2022.
Scope & Regional Forecast of the Anticorrosion Coatings Market
The Anticorrosion Coatings Market has witnessed that corrosion resistant coatings based on polymer are extremely popular for protecting aircraft equipment and bodies. They also help aircraft manufacturers in reducing the overall structural weight and emissions, while also improving the mileage. The popularity for corrosion protection coatings eventually caught the eye of the wider aerospace and automotive industries.
Anticorrosive coating based on nanotechnology is also being integrated into the process of vehicle manufacturing in an effort to decrease the influence of pinhole impact. As regulations on chemical usage keep getting tightened, the Anticorrosion Coatings Market is gradually increasing its dependence on anti-corrosion protection which is more eco-friendly. Bio-based protective coatings are expected to drive future market growth as governments across the world take environmental protection more seriously.
The Anticorrosion Coatings Market is currently dominated by demand originating from Asia-Pacific which is expected to register a CAGR of 6.43% till at least 2021. The presence of huge manufacturing hubs for energy, power and marine purposes in this region is the prime growth driver.
Segmentations & Key Players Involved in the Anticorrosion Coatings Market
The Anticorrosion Coatings Market can be broken down into various segmentations on the basis of –
Service: Epoxy, Alkyd, Acrylic, Urethanes, Vinyl and Others.
Application: Oil & Gas, Marine, Energy and Power, Construction and Infrastructure, Automotive, Aerospace and Others.
Geographical Location: Americas, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Anticorrosion Coatings Market are as follows:
Jotun Protective Coatings
E.I. du Pont de Nemours and Company
RPM International Inc.
Axalta Coating Systems, LLC
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