Global Corrosion Protective Coatings Market is majorly driven by the rise in industrial applications in numerous sectors, according to our research report “Global Corrosion Protective Coatings Market Outlook 2023”.
Technologically, the global corrosion protective coatings market is segmented into Solvent borne, Water borne and powder based technology. Among these technologies, Water borne corrosion protective coating is expected to be the fastest growing market in technology segment.
The corrosion protective coatings market is expected to register a CAGR of 6.65% over the forecast period i.e. 2015-2023. Moreover, the market of corrosion protective coatings is expected to reach USD 27.96 Billion by 2023.
Asia-Pacific accounted for the largest market share of 38.4% in 2015 of corrosion protective coatings market globally and it is expected to continue its dominance over the forecast period i.e. 2015-2023.
Growth in industries:
Rapid growth in automotive industry, wide scale applications of protective coatings, availability of efficient and less toxic corrosion protective coatings across the globe are some of the major factors for the driving growth of corrosion protective coatings market.
Growing concern towards protection and increasing life of metal equipment and assemblies of for better industrial processes are likely to foster the growth of corrosion protective coatings market over the forecast period .i.e. 2015-2023.
Advanced and effective protective coatings:
Introduction of advanced and efficient corrosion protective coatings and going on researches to develop less toxic or zero toxic protective coatings due to several environmental factors are some of the major driving factors for the corrosion protective coatings market.
However, High cost and toxic nature of efficient and high performance corrosion protective coatings are likely to hinder the growth of corrosion protective coatings market.
The report titled “Global Corrosion Protective Coatings Market Outlook 2023” delivers detailed overview of the Global Corrosion Protective Coatings Market in terms of market segmentation by Resin Type, by Technology, by End-user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the service providers of the Global Corrosion Protective Coatings Market which includes company profiling of AkzoNobel N.V., Hempel A/S, BASF Coatings, Jotun A/S, etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the Global Corrosion Protective Coatings Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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