Anti-Corrosion Coating Market Forecasted to Reach USD 43.3 Billion by 2028, Driven by Strong Demand Across Industries
Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Anti-Corrosion Coating Market by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc), Technology (Solvent Borne, Waterborne, Powder-Based), End-Use Industry (Marine, Oil & Gas, Industrial, Infrastructure, Power Generation), & Region - Global Forecast to 2028" report has been added to * ResearchAndMarkets.com's* offering.
In a significant publication update, a comprehensive analysis has been released pertaining to the global anti-corrosion coating market, which is expected to ascend from USD 34.8 billion in 2022 to USD 43.3 billion by 2028.
This remarkable growth, forecasted at a compound annual growth rate (CAGR) of 3.6% over the period, can be attributed to the *Epoxy* segment securing the largest market share. Epoxy anti-corrosion coatings are renowned for their durability and compatibility with other materials, leading to extensive use in various end-use industries, including marine, oil & gas, infrastructure, and automotive & transportation.
*Solvent Borne* technology has been identified as the dominant segment within the market, driven by its considerable adoption in industries such as automotive and infrastructure. Nonetheless, solvent-borne coatings are typically high in VOCs and possess potential flammability, which raises environmental concerns. Despite these challenges, the segment maintains its position owing to their superior block resistance qualities.
With particular emphasis on the *Marine industry*, anti-corrosion coatings have been indispensable in protecting assets against the rigors of extreme marine environments. These specialized coatings are essential for enhancing the longevity and reducing maintenance needs of marine equipment.
The *Asia Pacific region* shines as the fastest-growing market, stimulating the global anti-corrosion coating demand. Economic expansion in this region, coupled with substantial investments in automotive, infrastructure, and power generation sectors, has paved the way for this exponential market growth.
A detailed market breakdown based on factors like *Type*, *Technology*, and *End-Use Industry* has been presented alongside an elaborate regional analysis. This extensive research document aims to deliver a panoramic view of the market landscape, highlighting the industry trends, market dynamics, and competitive analysis.
*Key Market Insights:*
· Identification of primary market drivers, emphasizing the need for efficient processes and equipment longevity.
· Examination of key market constraints, including stringent environmental regulations and raw material costs.
· Spotlight on significant opportunities such as demand for high-efficiency coatings and growth potential in emerging economies.
· Analysis of major challenges facing the market, including the presence of local competitors and rise of alternative products.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 334
Forecast Period 2023 - 2028
Estimated Market Value (USD) in 2023 $34.8 Billion
Forecasted Market Value (USD) by 2028 $43.3 Billion
Compound Annual Growth Rate 3.6%
Regions Covered Global
*Companies Mentioned*
· 3M
· Advanced Nanotech Lab
· Akzonobel N.V.
· Ancatt Inc.
· Axalta Coating Systems Ltd.
· BASF SE
· Diamond Vogel
· Eoncoat, LLC
· Greenkote plc
· Hempel A/S
· Heubach Color
· Jotun
· Kansai Paint Co., Ltd
· Nippon Paint Holdings Co., Ltd.
· Noroo Paint & Coatings
· Nycote Laboratories, Inc.
· PPG Industries, Inc.
· Renner Herrmann Sa
· RPM International Inc.
· Secoa Metal Finishing
· SK Formulations India Pvt. Ltd.
· The Dow Chemical Company
· The Magni Group, Inc.
· The Sherwin-Williams Company
· Wacker Chemie Ag
For more information about this report visit https://www.researchandmarkets.com/r/kljguj
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*Attachment*
· Global Anticorrosion Coatings Market
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