Corrosion Protective Coatings Market : Global Demand Analysis & Opportunity Outlook 2021

Global Corrosion Protective Coatings Market Overview

Corrosion protective coatings are used to protect the manufactured and processed equipment such as metal and concrete assemblies from deterioration due to revelation to corrosive atmosphere. Researches on corrosion protective coatings are carried out across the globe in order to develop more effective and thin-film protective coatings. Introduction of advanced corrosion protective coatings with minimum friction and less content of volatile organic compounds are beneficial for the environment.

Emerging economies across the globe leads to upsurge the process of export and import through shipments and cargos increase the demand of ships for commercial purposes, properties of corrosion protective coatings such as thermal resistance, dimensional stability and advanced toughness, etc.  are some of the major driving factors for the growth of corrosion protective coating market. Corrosion protective coatings with less content or no toxic content which are manufactured by considering the environmental regulations are likely to reduce emissions of harmful gases in the environment. These are some of the major factors which help to endorse the corrosion protective coatings across the globe.These coatings are generally used in marine applications and several industrial applications where the atmosphere is corrosive and deteriorate the equipment with high levels of chemicals.

Market size and forecast

The global corrosion protective coatings market is expected to expand significantly at a CAGR of >5% over the forecast period i.e. 2016-2023. However, the market of corrosion protective coatings is expected to reach USD 27.96 Billion by 2023.

The demand for corrosion protective coatings is expected to reach 10,254.3 Kilo tons by 2023 from 5,725.2 Kilo tons in 2015. The extensive applications of protective coatings are expected to upsurge the demand for corrosion protective coatings globally.

Asia-Pacific accounted for the largest market share in 2015 of corrosion protective coatings market globally. The market of Asia-Pacific region is expected to continue its dominance by witnessing the highest growth of 7.4% over the forecast period i.e. 2016-2023. After Asia-Pacific, Latin America is expected to be the second largest share contributor across the globe in the market of corrosion protective coatings. Rising automotive and marine applications across the region are some of the major factors anticipated to expand the market of corrosion protective coatings market during the forecast period i.e. 2016-2023.

Market Segmentation

The Global Corrosion Protective Coatings Market is segmented on the basis of:

Demand Analysis By Resin Type

• Acrylic
• Epoxy
• Polyurethane
• Alkyd
• Polyester
• Other Resin type

Demand Analysis By Technology Type

• Solvent Borne
• Water Borne
• Powder Based

Demand Analysis By End-User

• Infrastructure & Construction
• Oil & Gas
• Marine
• Automotive
• Power Generation
• Aerospace

By Region

Global Corrosion Protective Coatings Market is further classified on the basis of region as follows:

• North America (United States / U.S., Canada) Market Size and Y-O-Y Growth Analysis
• Latin America (Mexico, Brazil, Rest of Latin America) Market Size and Y-O-Y Growth Analysis
• Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size and Y-O-Y Growth Analysis
• Asia-Pacific (China, India, Singapore, Japan, Australia and New Zealand and Rest of Asia) Market Size and Y-O-Y Growth Analysis
• Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
• Rest of World  Market Size and Y-O-Y Growth Analysis

Growth Drivers and challenges

Rapid growth in automotive industry and growing application opportunity for prevention of vehicle body and other metal assemblies is likely to foster the demand for corrosion protective markets in automotive industries.  Further, wide application of corrosion protective coatings in oil and gas industry to prevent leakage of harmful gases and oil in working environment are expected to propel the demand for corrosion protective coatings. Apart from this, 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 of efficient and high performance corrosion protective coatings is likely to hinder the growth of corrosion protective coatings market.

Moreover, rising concern towards the toxic nature of corrosion protective coatings and strict government regulations on protective coatings are expected to restrain the market growth of corrosion protective coatings market globally during the forecast period i.e. 2016-2023.

Key Players

The key players of corrosion protective coatings market are as follows:

• AkzoNobel N.V.
  • Company Overview
  • Key Product Offerings
  • Business Strategy
  • SWOT Analysis
  • Financials

• Hempel A/S
• BASF Coatings
• Jotun A/S
• PPG Industries Inc.
• BASF

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The Global Corrosion Protective Coatings Market is segmented as follows:

• By Resin type Market Size and Y-O-Y Growth Analysis
• By Technology type Market Size and Y-O-Y Growth Analysis
• By End-user Market Size and Y-O-Y Growth Analysis

By Regions

• North America (U.S., Canada) Market Size and Y-O-Y Growth Analysis
• Latin America (Mexico, Brazil, Rest of Latin America) Market Size and Y-O-Y Growth Analysis
• Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size and Y-O-Y Growth Analysis
• Asia-Pacific (China, India, Singapore, Japan, Australia and New Zealand and Rest of Asia) Market Size and Y-O-Y Growth Analysis
• Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
• Rest of World  Market Size and Y-O-Y Growth Analysis

Market Dynamics

Supply and Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

                  Key Answers Captured in Report?