Anti Corrosion Coating Market is expected to grow at ~5.3 % CAGR during 2016-2023

“Anti Corrosion Coating Market”
Global Anti Corrosion Coating Market Information- by Type (Epoxy, Zinc, Acrylic, Silicone, Polyurethane Alkyd, Chlorinated Rubber, and Others), by Application (Water-Based Coating, Solvent-Based Coating, Powder Coating, and Others), by End User Industry (Oil & Gas, Shipbuilding, Marine, Energy, Transport, Automotive, and Others) and by Region – Forecast till 2023

Market Research Future (MRFR) Announces the Publication of its Research Report – Global Anti Corrosion Coating Market 2016-2023.

Market Research Future (MRFR) recognizes the following companies as the key players in the Global Anti Corrosion Coating Market: 3M (US), BASF SE (Germany), Hempel Group (Europe), Kansai Paint Co., Ltd (Japan), PPG Industries (US), The Dow Chemical Company (US), Wacker Chemie AG (Germany), Valspar (US), Bluchem (South Africa), RPM International Inc.(US), and Others. 

Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, “Global Anti Corrosion Coating Market size is expected to grow at USD ~33.27 billion by 2023. The market witnessed a significant growth over the forecasted period owing to versatile applications such as into additives, flavor enhancers, acidity regulators, preservatives, and others across various industries.

Anti-Corrosion Coating used in various industry such as oil & gas, shipbuilding, marine, energy, transport, automotive, and others on the other hand,  it is widely used in marine industry across various region including APAC, North America, Europe, and RoW. Among all the region it is led by the Asia-Pacific due to fast economic development, specially, in the marine, automotive & transportation end-use industry. 

Segment Analysis:

The Global Anti Corrosion Coating Market has been segmented into type, application, and end use industries. On the basis of types the market has been divided into epoxy, zinc, acrylic, silicone, polyurethane alkyd, chlorinated rubber, and others (fluorocarbons, co-polymers, graphene, ceramic, and glass flakes). Above all the types epoxy anti corrosion coating is highly in demand owing to its features such as water resistance, extensive corrosion protection, and adhesion to steel due to this it is extremely applicable in marine industry through numerous region. After epoxy Anti Corrosion coating

polyurethane alkyd coating holds the second position due to applicable in various industry such as   oil & gas, transport, and automotive. 

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On the basis of application, the market has been divided into water-based coating, solvent-based coating, powder coating, and others (antifouling coatings, high-energy cure coatings, nano-coatings).

Among these applications, solvent-based Anti-Corrosion Coating have coverd the largest market followed by water-based coating, powder coating, and others. The demand for solvent-based anti-corrosion coating is growing due to its feature such as lesser drying time, exceptional block resistance, and extensive applications. 

Furthermore, on the basis of end user industry Anti-Corrosion Coating is segmented into oil & gas, shipbuilding, marine, energy, transport, automotive, and others (pipes & tanks, power plants, wastewater treatment plants, wind turbines, construction). Among all end user industry marine end-use industry accounted for the major share of the anti-corrosion coating market due to the large volume of coatings used in marine industry coatings applications. Anti-Corrosion Coatings are predominantly used in the marine sector and are specially formulated to counter extremely harsh environment such as salt water, temperature, pressure, and organic formation among others through various application such as water-based coating, solvent-based coating, powder coating, and others. The growing demand from end use industries have augmented the market for Anti-Corrosion coating which will further have a positive impact during the forecast period. 

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