Anti-Corrosion Coating Market by Type, Technology, End-Use Industry - Global Forecast to 2022
LONDON, Sept. 4, 2017 /PRNewswire/ --
"The global anti-corrosion coating market is projected to grow at a CAGR of 5.0% during the forecast period"
The global anti-corrosion coating market is projected to reach USD 31.73 billion by 2022, at a CAGR of 5.0% from 2017 to 2022. This growth can be attributed to the rising losses due to corrosion and the increasing demand for anti-corrosion coatings from various end-use industries. However, fluctuating raw material costs and stringent environmental regulations are restraining the growth of the market.
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"The epoxy segment is anticipated to be the largest type segment of the global anti-corrosion coating market"
The epoxy segment is expected to be the largest type segment of the global anti-corrosion coating market from 2017 to 2022. Epoxy is the most widely used anti-corrosion coating owing to its increasing applicability across various end-use industries. Moreover, the rising demand for epoxy coatings from the marine and oil & gas industries is also fueling the growth of the epoxy segment.
"The solvent-borne segment is anticipated to be the largest technology segment of the global anti-corrosion coating market during the forecast period"
The solvent-borne segment is expected to be the largest technology segment of the global anti-corrosion coating market from 2017 to 2022. The growth of the solvent-borne technology segment is mainly attributed to the increasing demand for solvent-borne coatings from the automotive, infrastructure, and marine industries.
"The marine segment is anticipated to be the largest end-use industry segment of the global anti-corrosion coating market during the forecast period"
The marine segment is projected to be the largest end-use industry segment of the global anti-corrosion coating market from 2017 to 2022. The increasing use of anti-corrosion coatings in marine and offshore applications is anticipated to drive the growth of the anti-corrosion coating market. Moreover, emerging countries such as India and China are witnessing a high demand for new ships for both, military and commercial purposes, which, in turn, is anticipated to drive the demand for anti-corrosion coatings from the marine industry.
"Asia Pacific is projected to be the fastest-growing market for anti-corrosion coating during the forecast period"
The anti-corrosion coating market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. Economic development and substantial investments in industries such as oil & gas, infrastructure, and automotive & transportation are key factors fueling the growth of the anti-corrosion coating market in the Asia Pacific region.
Breakdown of profiles of primary interviews for the report
• By Company Type: Tier 1 – 30%, Tier 2 – 43%, and Tier 3 – 27%
• By Designation: C Level – 21%, Director Level – 23%, and Others – 56%
• By Region: North America – 37%, Europe – 23%, Asia Pacific – 26%, and RoW – 14%
Key companies profiled in this report include AkzoNobel N.V. (Netherlands), PPG Industries, Inc. (US), Axalta Coating Systems Ltd. (US), BASF SE (Germany), The Sherwin-Williams Company (US), Ashland Inc. (US), Hempel A/S (Denmark), Jotun (Norway), RPM International Inc. (US), and Kansai Paint Co., Ltd. (Japan).
Study Coverage
The global anti-corrosion coating market has been segmented on the basis of type, technology, end-use industry, and region. Based on type, the market has been classified into epoxy, polyurethane, acrylic, alkyd, zinc, chlorinated rubber, and others. Based on technology, the market has been categorized into solvent-borne, waterborne, and powder coating. Based on end-use industry, the market has been segmented into marine, oil & gas, industrial, infrastructure, power generation, automotive & transportation, and others. Based on region, the global anti-corrosion coating market has been segmented into Asia Pacific, Europe, North America, South America, and the Middle East & Africa.
Key Benefits:
This report covers the following aspects that will benefit the client:
• Market segmentation on the basis of type, technology, end-use industry, and region
• Market dynamics including drivers, restraints, opportunities, and challenges
• Porter's Five Forces Analysis
• Profile of key players in the global anti-corrosion coating market
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