In 2015 the global value of the anti-corrosion market was £11.4 million, this is forecast to increase to over £21.4 million by the year 2022!
Allied Market Research were responsible for the recently published a report. One of the key factors in the increase is globalisation. Growth in the Asia Pacific region is expected to be a contributing factor. Increased industrial activity, in this largely rural and humid part of the world, will drive higher demand for anti-corrosion products.
The solvent based anti-corrosion segment generated the largest revenue share in 2015 globally. Contrary to this, strict regulations imposed by European and North American governments will force a decrease in demand for solvent based anti-corrosion products. However powder-based and waterborne anti-corrosion products will see an increase in demand in North America and Europe.
Read “Why Metal Roofs Corrode” to find out more about the causes of corrosion.
Says Eswara Prasad at Chemicals & Materials at AMR :
Increased application of anti-corrosion coatings in the marine industry to reduce frictional resistance in the propellers and machinery parts of ships to improve its efficiency is expected to offer major opportunities to the market.
Key findings of the 2017 Anti-corrosion Coatings Market Report
- China is the leading market in the Asia-Pacific region, growing at a CAGR 10.4%.
- The acrylic anti-corrosion coating type is expected to witness the highest CAGR of 10.4%.
- Solvent-borne anti-corrosion coating segment accounted for more than three-fifths of the global anti-corrosion coating market in 2015.
- The marine end-user segment occupied the highest share in 2015, and is expected to grow at a CAGR of 9.9%, in terms of value, during the forecast period.
- Asia-Pacific is the leading consumer of anti-corrosion coatings, accounting for approximately more than one-third share of the global market, followed by North America.
Prominent Segmentations Involved in the Anticorrosion Coatings Market:
The Anticorrosion Coatings Market can be broken down into various segmentations on the basis of –
- Services: Epoxy, Alkyd, Acrylic, Urethanes, Vinyl and Others.
- Application: Oil & Gas, Marine, Energy and Power, Construction and Infrastructure, Automotive, Aerospace and Others.
- Geographic Location: Americas, Europe, Asia-Pacific and Rest of the world.
Some of the sample companies profiled in the Anticorrosion Coatings Market report are as follows:
- BASF SE
- General Paints
- Diamond Vogel Paints
- Metal Coatings
- J.P. Marketing
- CSL Silicones
- AkzoNobel NV
- Paraxair, Inc.