Allied Market Research Says, Global anti-corrosion coatings market is set to surpass $41.2 billion by 2027, and registering a CAGR of 8.3% from 2020 to 2026. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Based on region, Asia-Pacific accounted for the highest share, holding more than one-third of the total share in 2019, and is estimated to maintain its dominant share during the forecast period. Furthermore, the region is also anticipated to manifest the fastest CAGR of 8.7% from 2020 to 2027. The market also analyses regions including Europe, North America, and LAMEA.
The report offers key drivers that propel the growth in the global anti-corrosion coatings market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
The global anti-corrosion coatings market is segmented on the basis of type, technology, end-user industry, and region. Based on type, the market is further divided into epoxy, polyurethane, acrylic, alkyd, zinc, chlorinated rubber, and others. The epoxy segment accounted for around two-fifths of the total share of the global anti-corrosion coating market in 2019. Whereas, the acrylic segment is expected to portray the largest CAGR of 9.4% from 2020 to 2027.
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Increase in awareness about eco-friendly products, rise in investment across end-user industries, and superior performance of anti-corrosion powder coatings propel the growth of the global anti-corrosion coatings market. However, limitations of epoxy anti-corrosion coating and government impede the market growth. On the other hand, increase in demand for anti-corrosion coating in the marine industry to improve efficiency and rise in applications of anti-corrosion coating in the solar and wind energy industry offer lucrative opportunities to the market players.
Based on technology, the market is segmented on the basis of solvent-borne, waterborne, powder, and other anti-corrosion coatings. The solvent-borne segment accounted for the largest market share with more than three-fifths of the total share in 2019, and is estimated to maintain its lead position throughout the forecast period. Contrarily, the water-borne segment is expected to register the fastest CAGR of 9.5% from 2020 to 2027.
By Type:
Epoxy
Polyurethane
Acrylic
Alkyd
Zinc
Chlorinated Rubber
Others
The key market players analyzed in the anti-corrosion coatings market report involves BASF SE, NIPPON PAINT HOLDINGS CO. LTD, PPG Industries Inc., The Sherwin-Williams Company, AkzoNobel N.V, Hempel Holdings A/S, Kansai Paints Co. Ltd, The Dow Chemical Company, WackerChemie AG, and 3M.
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