Anti-Corrosion Coatings Market Size By Product (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, Chlorinated Rubber), By Mode Of Application (Solvent-based, Water-based, Powder), By End Use (Oil & Gas, Shipbuilding, Infrastructure, Industrial markets, Energy, Transport) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2025

Published Date: Oct 2016  |  Report ID: GMI808  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 150   |   Base Year: 2015




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Anti-Corrosion Coatings Market size was more than USD 12 billion in 2015 and is projected to expand at 5% CAGR from 2016 to 2025. The growing demand for energy production through shale gas, oil sands, oil shale, and tar sands will boost the industry growth during the forecast timeframe.
 

Anti-corrosion coatings are widely used in energy industry including oil, gas, coal, nuclear, hydro, biomass, and other renewable energy sources, as they provide protection to the equipment used in the industry from extreme weather conditions. For instance, equipment required in hydropower generation plants is in direct contact with water and atmospheric moisture, which makes them vulnerable to corrosion.
 

Anti-Corrosion Coatings Market Statistics

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Furthermore, the global population was approximately 6.89 billion in 2010 and is anticipated to reach approximately 9 billion by 2040. This growing population trend is likely to increase the clean energy demand, consequently driving the anti-corrosion coatings market.
 

These coatings are widely used in oil & gas equipment’s such as oil storage tanks, drill pipes and drill bits, which are broadly exposed to marshy lands and underground water. The global oil & gas equipment sector generated $130 billion in 2010 and is anticipated to reach USD 278 billion by 2025. Growing oil & gas equipment market will consequently boost the anti-corrosion coatings market.
 

Marine sector is one of the prominent end users contributing toward the global anti-corrosion coatings market share, to protect marine vessels, ships, boats, etc., with metal hulls and consequently results in low maintenance cost. In addition, these coatings also enhance the vessels aesthetic appearance. As of 2015, there were approximately 40,900 commercial vessels in operation globally. These ships require high maintenance as they are prone to corrosion during voyage.
 

The product is also extensively employed during the shipbuilding process and advanced forms of these coatings available in the market provide protection from corrosion, offer added durability, anti-static effect, and UV stability to the coated surfaces.
 

Key raw materials used in the anti-corrosion coatings manufacturing are obtained mainly from petrochemical derivatives such as benzene, toluene, ethylene, and naphthalene, oscillating raw material prices on account of the intermittent rise and fall of crude oil and natural gas prices may hamper anti-corrosion coatings market trends over the forecast timeframe. Stringent environment legislations on account of the VOC content of the product is likely to negatively impact business growth. However, increasing water-based product demand will create new growth opportunities.
 

Anti-Corrosion Coatings Market Report Coverage
Report Coverage Details
Base Year: 2015 Market Size in 2015: 12 Billion (USD)
Forecast Period 2016 to 2025 CAGR: 5% Value Projection: 20.21 Billion (USD)
Pages: 150 Tables, Charts & Figures: 301
Geographies covered (19): U.S., Canada, Germany, Russia, Italy, UK, France, Spain, China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Brazil, Mexico, South Africa, GCC
Segments covered: Product, Mode Of Application, End Use and Region
Companies covered (17): Akzonobel, Ashland, Axalta Coating, BASF, Hempel, Jotun, RPM International, Kansai Paints, PPG Industries, The Sherwin-Williams Company, Chugoku Marine Paints, Nippon Paints, Tnemec, Sokema, AICA Kogyo, AnCatt, Valspar
Growth Drivers:
  • Growing energy sector
  • Rise in commercial and military shipbuilding and maintenance activities in Asia Pacific
  • Increasing need for new infrastructure and maintenance of existing construction spaces along with growing demand for metal based structures
Pitfalls & Challenges:
  • Fairly high price volatility of petrochemical feedstock
  • Stringent environmental regulations associated with anti-corrosion coatings

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Market, By Product

Epoxy segment will see gains exceeding 4.5% through 2025. Epoxy coatings dominated the product base in 2015. It provides excellent corrosion and abrasion resistance from water, alkali and acids. It is also preferred for metal as well as concrete.
 

Polyurethane anti-corrosion coatings market was valued at over USD 3 billion in 2015. These coatings offer glossy appearance and wide color range along with anti-corrosion properties owing to propel the industry for the product segment. It is suitable for a wide range of temperatures up to 1100 Celsius.
 

Anti-Corrosion Coatings Market by Product

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Market, By Mode of Application

Solvent-based anti-corrosion coatings was dominant in 2015. It offers superior properties as compared to other mode of application. However, water based anti-corrosion coatings market is anticipated to witness highest gains owing to favoring government regulations towards product with low volatile organic compound (VOC) constituents.
 

Market, By End Use

Infrastructure end use generated more than USD 2 billion in 2015. Increasing government initiatives to improve public infrastructure along with rising commercial and residential projects is analyzed to be the key factor propelling the anti-corrosion coatings market for infrastructure over the forecast timeframe. These coatings in construction industry offer simple ways of surface preparation, superior bonding strength with concrete and steel promising anti-corrosion properties, lower coating costs, and provide absolute ease-of-application. It also offers heat resistance, superior structural strength, and restricts harmful UV radiations, which affect buildings.
 

Energy sector will witness highest gains over 5% CAGR over the coming years. Increasing population has resulted in increasing energy demand. The product finds widespread applications in energy sector as it offers an effective way to reduce this corrosion effect and protect the equipment, improving both product/equipment life as well as cost reduction from reduced maintenance activities during the product life cycle.
 

Market, By Regional Trends

North America mainly led by the U.S. was valued at over USD 1.5 billion in 2015. The regional growth was mainly driven by increasing government military investment (Navy). The U.S. has one of the largest fleet base globally owing to boost industry growth by 2025. Growing oil & gas sector in the region will further complement the anti-corrosion coatings market growth.
 

Asia Pacific is projected to witness substantial gains over 5% over the forecast timeframe. Southeast Asian countries including the Philippines, Indonesia, Thailand, Singapore, Hong Kong, South Korea, Japan, and China were major hubs for ship maintenance and repair in 2015. Lower labor costs, easy availability of viable anti-corrosion solutions, and high shipping traffic in the region have boosted Asia Pacific maritime contribution to the anti-corrosion coatings market.
 

Competitive Market Share

Major participants include in the anti-corrosion coatings industry are Akzonobel, Ashland, Axalta Coating, BASF, Hempel, Jotun, RPM International, Kansai Paints, PPG Industries and The Sherwin-Williams Company. Other prominent industry share contributors are Chugoku Marine Paints, Nippon Paints, Tnemec, Sokema, AICA Kogyo, AnCatt and Valspar.
 

Industry Background

Various industries face the common challenge of corrosion, wherein machineries and equipment come in direct contact with water, heat, sunlight, etc. Corrosion, which can be caused by several physical and chemical factors, severely damages metal and concrete-based structures. Thus, corrosion has been arising concern for major industries such as chemical manufacturing, oil & gas, transportation, aerospace, marine, building & construction, and power generation. This signifies high product usage in these industries owing to drive the anti-corrosion coatings market.
 

Anti-corrosion coatings market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2010 to 2025, for the following segments:
 

By Product

  • Epoxy
  • Polyurethane
  • Acrylic
  • Alkyd
  • Zinc
  • Chlorinated Rubber
  • Others

By Mode of Application

  • Solvent-Based
  • Water-Based
  • Powder
  • Others

By End Use

  • Oil & Gas
  • Shipbuilding
  • Infrastructure
  • Industrial markets
  • Energy
  • Transport
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Russia
    • Italy
    • UK
    • France
    • Spain
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Thailand
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • GCC
       

Frequently Asked Questions (FAQ) :

According to the report published by Global Market Insights Inc., the anti-corrosion coatings business is supposed to attain $20.21 billion by 2025.
Growing energy sector, rise in commercial and military shipbuilding and maintenance activities, increasing need for new infrastructure, and maintenance of existing construction spaces along with growing demand for metal-based structures are major factors expected to drive the growth of global market.
Akzonobel, Ashland, Axalta Coating, BASF, Hempel, Jotun, RPM International, Kansai Paints, PPG Industries, The Sherwin-Williams Company, Chugoku Marine Paints, Nippon Paints, Tnemec, Sokema, AICA Kogyo, AnCatt, Valspar are some of the top contributors in the industry.
The epoxy segment registered a major share in 2015 and is projected to record a remarkable growth rate throughout the forecast period.

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Premium Report Details

  • Published Date: Oct 2016
  • Pages: 150
  • Tables: 282
  • Charts / Figures: 19
  • Companies covered: 17
  • Countries covered: 19

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