Anti-corrosion Coatings Market (By Product: Water-based, Solvent-based, Powder and Others; By Material: Polyurethane, Epoxy, Acrylic, Alkyd, Zinc and Others; By End User: Building & Construction, Oil & Gas, Marine, Aerospace and Defense, Automotive & Rail and Others) - Global Market Size, Share, Trends Analysis, Segment Forecasts, Regional Outlook 2021 - 2030

Precedence Research announced, the global anti-corrosion coatings market was valued at US$ 29.84 billion in 2020 and is predicted to surpass around US$ 47.88 billion by the end of 2030, representing impressive CAGR of 4.84% during the forecast period 2021 to 2030.

Anti Corrosion Coatings Market Size 2017 to 2030

Key market Insights:

Anti-corrosion coatings are crucial tool for preventing challenges of rust across several industries. This type of coating finds application under several areas including automobiles tunnels, bridges, and protection of structures in few of the toughest environments. Anti-corrosion coatings have become an inevitability for businesses to defend the enormous investments they make in terms of property, money, and protection of workforces. These coatings are employed extensively in sectors like oil and gas, marine, petrochemical, power generation, infrastructure, and others.

Crucial factors accountable for market growth are:

  • Escalating requirement for thin-walled durable metallic components in the engineering of lightweight products
  • Development of oil and gas exploration operations in North America and Asia-pacific
  • Power plants anticipated to deliver development outlook to high-performance anti-corrosion coatings

Significant Market Trends:

Solvent-Based Technology Segment Recorded Prime Market Share in 2020

The solvent-based technology segment led the global anti-corrosion coatings market and reported for above 40% share in terms of revenue in 2020. This high market stake is responsible to the intensifying demand for manufacturing machines, industrial tanks, pipes, chemical storage tanks, ballast tanks, gas ducts, smoke stacks and cooling towers. Furthermore, solvent-based corrosion protection coating needs low drying time, displays humidity, enhanced temperature, and abrasion resistance.

Oil and Gas Application Sector Foretold to Emerge as Dominant Segment during Estimate Period

Anti-corrosion coating finds usage in care homes, hospitals, and drop-in centers for the product such as handles, floors, beds, ceiling paints and walls.Among all, oil & gas application segment dominated the overall market and seized above 35% share of the total revenue in 2020. This high market cut is credited to the high importance and widespread practice of corrosion protection coating in this application segment. Further, the anti-corrosion coating reduces the risk of microbes and expands surface finish and abrasion resistance.

Acrylic Material Segment is Projected to Govern the Anti-corrosion Coatings Market Revenue

Out of different material segment covered in the report, acrylic material segment conquered the market revenue with over 40% share in 2020. This high share is credited to outstanding properties offered by these materials including resistance to oxidation and weathering. Acrylic coatings are principally water-based, which bid comfort of handling and improved performance in a extensive range of areas such as roof coating, wall coating, and less cost in comparison with other materials

North America is Estimated to be the Largest Market for Anti-corrosion Coatings

The research report covers key inclinations and forecasts of anti-corrosion coatings products across diverse top graphical regions such as North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa. In the past few years, the U.S. has exceeded both Saudi Arabia and Russia as the world’s one of the leading producers of natural gas and oil. As the installation of pipelines upsurges, so does the risk of corrosion that emphasizes the necessity for pipeline protection. As per, National Association of Corrosion Engineers, global cost of corrosion was around USD 2.5 trillion in 2016. If the industry endures its upward path, the influence of corroded steel pipelines on the financial data is anticipated to increase.

Augmented investments in the marine, construction, and energy sectors in India and China are responsible for changing industry tendencies, which is projected to stimulate the growth of anti-corrosion coatings market. China is the largest user of anti-corrosion coatings across the world. This is mainly due to the increasing energy demand and necessity of maintenance in the transportation sector.

Global Anti Corrosion Coatings Market 2021 to 2030

Top Players contending in the Market:

Prominent market participants are emphasizing on tactics such as novel product launch, business development, collaborations and acquisition to withstand the strong market rivalry. Leading competitors contending in global anti-corrosion Coatings market are as follows:

  • Akzo Nobel N.V.
  • Axalta Coating Systems, LLC
  • Kansai Paint Co., Ltd.
  • BASF SE
  • Ashland
  • Hempel A/S
  • Jotun
  • PPG Industries, Inc.
  • The Sherwin-Williams Company

In order to better recognize the current status of acceptance of Anti-corrosion Coatings, and policies adopted by the foremost countries, Precedence Research predicted the future evolution of the Anti-corrosion Coatings market. This research study bids qualitative and quantitative insights on Anti-corrosion Coatings market and assessment of market size and growth trend for potential market segments.

Major Market Segments Covered:

By Type

  • Water-based
  • Solvent-based
  • Powder
  • Others

By End-User

  • Building & Construction
  • Oil & Gas
  • Marine
  • Aerospace and Defense
  • Automotive & Rail
  • Others

By Material

  • Polyurethane
  • Epoxy
  • Acrylic
  • Alkyd
  • Zinc
  • Others

By Geography

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • France
      • United Kingdom
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Southeast Asia
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Rest of Latin America
    • Middle East & Africa (MEA)
      • GCC
      • North Africa
      • South Africa
      • Rest of Middle East & Africa
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FAQ's

How much is the anti-corrosion coatings market worth?
According to Precedence Research, the global anti-corrosion coatings market size was valued at US$ 29.84 billion in 2020 and is expected to reach around US$ 47.88 billion by 2030.
The global anti-corrosion coatings market is growing at a impressive CAGR of 4.84% during the forecast period 2021 to 2030.
Increasing need for anti-corrosion coatings in sectors like building & construction, oil & gas, and marine, is predictable to push the growth of the market during years to come.
In 2020, the oil & gas application sector stated for the greater share of over 35% and will hold the leading position during the estimated timeframe
The acrylic material segment conquered the market revenue with over 40% share in 2020.
The solvent-based technology segment led the global anti-corrosion coatings market and reported for above 40% share in terms of revenue in 2020.
Anti-corrosion coatings are one of the most efficient and reasonable solutions for handling corrosion. Anti-corrosion coatings are employed to defend metal or other surfaces from natural degradation instigated by diverse corrosive agents including chemicals, moisture,and salt.
Anti-corrosion coatings are categorized into polyurethane, epoxy, acrylic, alkyd, zinc, chlorinated rubber. Other coatings include fluorocarbons, silicates, co-polymers, graphene glass flakes and ceramic.
North America is estimated to be the largest market for anti-corrosion coatings.

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