Global Anti Corrosion Coatings Market

Over the years, a lot of financial damage has occurred due to corrosion of metals used in machinery and parts in the marine, transportation, construction and consumer appliance industries. Risk associated with metal corrosion in components has therefore ranged from destroying the visible aesthetics to structural instability. A rising demand for high performance anti corrosion coatings in industries like marine, power generation and construction are presumably the absolute business drivers to positively impact the market growth in the forthcoming decade.

Corrosion resistant coatings are primarily used to prevent any kind of degradation of metal components due to exposure to moisture, salt spray or to a variety of chemicals. Such coatings thereby provides an added protection to the metal surfaces and prevents them from interaction with reactive chemical components or corrosive material.

The primary chemicals utilised for the manufacture of the coatings include epoxy, polyurethane, polysiloxane, acrylic, and alkyds. The requirement of corrosion protection varies on the basis of the environment to which the substrate is expected to be subjected. Anti-corrosion coatings are classified into categories as per the ISO 12944-2 classification with C1,C2 being the low range coatings, c3 being the medium ranged one and C4,C5 being the higher end protective coatings that finds their applications in the end user industries of oil and gas, manufacturing,water and wastewater, commercial architecture. Anti-corrosion coatings also have the ability to provide abrasion resistance, non-stick performance and protection from chemicals. Thus these coatings ensure a longer life span in metals operating in a harsh applications.

Market Dynamics:

The market for anti-corrosion coatings is subjected to enormous competition in the lower range coating products used in commercial architectures and manufacturing, infrastructure industries. A significantly high number ofproducers of low range anti-corrosion coatings, compel the market players to lower their prices due to price sensitive customers, in developing countries like Asia-Pacific. However, the high range protective coatings, utilised primarily for protection of substrates in harsh marine and off shore and chemical exposure conditions, experience lesser competition and price sensitivity. The epoxy segment of coatings is expected to be the largest segment type in the market by 2022 while the solvent-borne segment is expected to be the largest technology segment during the same.

A gradual increase in the population and disposable income of consumers in the developing nations like China, India and other countries in APAC region are more likely to enhance the development of oil & gas, marine and power generation industries. This inturn will enhance the demand for high performance anti-corrosion coatings due to their wide functionality. Usage of coatings in major markets like construction of steel and metal infra for transport acts as another major driver of increased demands.

However, these coatings face regulatory pressures from government organisations like US EPA (US Environmental Protection Agency) that mandates the usage of products with low VOC (Volatile organic compounds) emissions and eliminates the usage of heavy metals. Consumers are thereby migrating towards usage of waterborne coatings instead of solvent-borne ones, for desirably low VOC emissions, better durability and aesthetics. They are also preferring products with quicker drying times, ease of application and longevity.

Market Segments:

Global anti-corrosion coatings market is segmented on the basis of their end user industries, the technology kind of coatings, geographies and chemical composition type

Segmentation on the basis of Geographies can be listed down as below:

--> APAC

--> North America

--> Latin America

--> Europe

--> Middle East and Africa

Segmentation on the basis of Chemical Composition Type can be listed down as below:

--> Acrylic

--> Polyurethane

--> Epoxy

--> Alkyd

--> Chlorinated rubber

--> Zinc

--> Others

Segmentation on the basis of End User Industries can be listed down as below:

--> Marine

--> Industrial

--> Oil and Gas

--> Construction

--> Automotive

--> Energy

--> Others

Segmentation on the basis of Coatings Technology can be listed down as below:

--> Solvent Borne

--> Water Borne

--> Powder coating

--> Others

Geographical Analysis

APAC region is the one with the forecast of fastest growing market with the highest CAGR during the forecasted period owing to the economic development and significant investments in industries such as oil & gas, infrastructure, automotive and transportation. Middle East countries (UAE, Qatar, Iraq, and Saudi Arabia) are some of the major revenue generators of the anti-corrosion coatings market with extensive production of oil over years.

Key Players:

Few key players of the global anti-corrosion coatings market can be listed down:

--> Kansal Paints Co., Nippom Paints Co. Ltd, The Sherwin-Williams Company, 3M Co

--> BASF SE, AkzoNobel N.V., Hempel A/S, The Dow Chemical Company

--> Axalta Coating System Ltd, Ashland Inc, Wacker Chemie AG, Clariant International Ltd

--> Diamond Vogel Paints, Jotun A/S, RPM International and etc.

Report Contents:

> Anti Corrosion Coatings Market segments

> Market Drivers, Restraints and Opportunities

> Anti Corrosion Coatings Market Size & Forecast 2016 to 2022

> Supply & Demand Value Chain

> Market - Current Trends

> Competition & Major Companies

> Technology and R&D Status

> Porters Five Force Analysis

> Strategic and Critical Success Factor Analysis of Key Players

Regional Analysis:

> North America

>> US and Canada

> Latin America

>> Mexico, Brazil, Argentina and Rest of Latin America

> Western Europe

>> EU5 (Germany, France, Italy, Spain, U.K.)

>> Nordic Countries (Denmark, Finland, Norway, and Sweden)

>> Benelux (Belgium, The Netherlands, and Luxembourg)

>> Rest of Western Europe

> Eastern Europe

>> Russia

>> Poland

>> Rest of Eastern Europe

> Asia Pacific

>> China

>> India

>> Japan

>> Australia and New Zealand

>> Rest of Asia Pacific

> Middle East and Africa

>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)

>> South Africa

>> North Africa

>> Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

Report Highlights:

> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)

> Consumer and Pricing Analysis

> Market dynamics of the industry

> Market Segmentation

> Estimated Market Sizing in terms of volume and value

> Recent trends in Anti Corrosion Coatings Market and impact

> Research Status and Technology Overview

> Extensive Industry Structure Coverage