Anti-corrosion coatings are imperative for protecting a surface from rusting which occurs on account of exposure to water,air and various forms of chemicals. Some of the key attributes of this form of coating include heightened resistance to chemicals, light weight, abrasion resistance and gloss retention among others. Metals such as titanium and zin care some of the major rat materials that are used for the production of such types of coatings. Rising application of anti-corrosion coatings from several end-use industries is one of the key factors responsible for the growth of the anti-corrosion coatings market size at present.
Anti-CorrosionCoatings Market, By Type (Polyurethane, Acrylic, Alkyd, Zinc, Epoxy, and Others),By Technology (Water-Borne, Solvent-Borne, Powder, UV-Cured, and Others), ByEnd-Use Industry (Oil & Gas, Aerospace & Marine, Energy & Power,Automotive, Construction, Others) – Global Industry Insights, Trends andForecast, 2017-2025
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Burgeoning growth of the ship building industry is one of the key factors augmenting market growth of anti-corrosion coatings at present. China is spearheading the growth of the ship building industry. According to the Ministry of Industry and Information Technology(MIIT), the completion rate of ships in China accounted for 41.9% of the world total, while it also accounted for 45.5% of the global orders and 44.6% of the holding orders. Further, emerging shipping hubs are appearing in countries such as India, Vietnam, and Philippines among others. Further, according to NACE International, costs due to corrosion amounted to US$ 2.5 trillion annually,which is also equivalent to 3.4% of the global Gross Domestic Product (GDP).These factors have paved the way for the growth of the anti-corrosion coating market. However, high demand for Fiberglass Reinforced Plastic (FRP) is resulting market slowdown of anti-corrosion coatings.
Based on technology, solvent borne coatings emerged as the leading segment in 2017, majorly due to its heightened block resistance feature, wide application, and less drying time. However, water-borne coatingsare expected to exhibit the fastest growth during the forecast period due toits low VOC content.
The global anti-corrosion coatings market is divided into regions that are North America - U.S, Canada, Other) (Asia-Pacific-India, Japan, China, Australia, Other) (Europe - UK, Russia, France, Brazil,Other) (Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. Asia Pacific is expected to continue leading the anti-corrosion coatings market throughout the forecast period. Rapid penetration of several end-use industries such as automotive, marine, construction and defense among others is one of the key factors pushing the growth of the anti-corrosion coatings market size in the region. In Europe and North America,the advancement in anti-corrosion coatings is anticipated to be gradual due to market maturation. Rapid growth in the military and automotive industries is amajor driving factor for these regions.
Anti-Corrosion Coatings Market: Secondary Research
To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers,companies annual reports, investor presentations, and articles present on trust worthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare there port. The data collected as secondary data have been obtained from various reliable journals and associations such as Smart Ticketing Alliance,Association of Professional Social Compliance Auditors, General Service Administration, Department of Transportation, and Association for Intelligent Transport Systems to reach to the market numbers or size. The data obtained through secondary sources has been validated through primary research.
Anti-Corrosion Coatings Market: Primary Research
For conducting primary research, several primary sources of the demand as well as supply sides have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers,Marketing Directors and other executives of giant market players and organizations operating in anti-corrosion coatings market are included as primary sources of the supply side.
After performing comprehensive engineering o anti-corrosion coatings market (which includes market size estimations,calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research hasbeen carried out to collect information along with verifying and validating thesignificant and critical market numbers arrived at.
Notable players operating in the field of anti-corrosion coatings include BASF S.E., AkzoNobel N.V., PPG Industries, TheSherwin Williams Company, and Axalta Coating Systems LLC among others.
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