Anti-Corrosion Coating Marketis expected to reach USD 41.37 Billion by 2026 from USD 24.92 Billion in 2016 at a CAGR of 5.2%.
An anti-corrosion coating advantages of corrosion coatings include increased lifespan, reduced operating costs, improved appearance, increased durability and abrasion protection is fueling the market growth. Increasing requirement for anti corrosion coatings in marine, oil & gas, construction, power generation, and other industries are anticipated to positively impact the market growth in the forecast period. Investment in infrastructures in the construction and transportation sectors in the emerging economies is the major key factor driving the market growth. Fluctuating prices of crude oil is about to restrain the growth of the market.
Anti-corrosion coating market based on type has been segmented into epoxy, acrylic, polyurethane, alkyd, chlorinated rubber, zinc and others. Epoxy segment is expected to be one of the major contributors for the market during the forecast period. This is due to the rising demand for epoxy coatings from oil & gas, marine and infrastructure industries.
Anti-corrosion coating market based on technology has been segmented into waterborne, solvent-borne and powder coating. Solvent-borne segment is expected to grow at a high CAGR during the forecast period. Solvent-borne formulations are largely used in industrial coatings, automotive coatings and printing inks.
Anti-corrosion coating market based on end-use industry has been segmented into marine, oil & gas, industrial, infrastructure, power generation, automotive & transportation and others.
Geographically, the anti-corrosion coatings market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is expected to be one of the largest markets for anti-corrosion coatings during the forecast period. This is due to the rising demand for anti-corrosion coating from power generation and automotive & transportation industries in this region.
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