Global Anti-corrosion Coatings Market Outlook to 2026

Anti-corrosion coatings are used in the protection and maintenance of exterior and interior substrates against corrosion from agents such as moisture, chemical, and salt. According to BlueQuark Research & Consulting, the global Anti-corrosion coatings market is expected to witness considerable growth rate during the forecast period. An increase in construction activities globally, especially in Asian countries such as China and India, and growing demand in the oil & gas industry is the primary market driving factor. Further, high demand in the marine industry also affects the anti-corrosion coatings market positively. However, environmental regulations, such as constraints related to volatile organic compounds (VOCs) is expected to hinder the market growth in the forecasted period.

Asia-Pacific is expected to lead the market owing to rising marine industries in countries like China Japan, and South Korea as well as new shipping hubs emerging in Vietnam, India, and the Philippines. Furthermore, the oil and gas industries occupy a good share of the anti-corrosion coating market, in terms of revenue in the Asia-Pacific region. Therefore, the market for Anti-corrosion coatings in Asia-Pacific is expected to witness a significant growth rate during the forecast period.

Building and construction is one of the largest end-users of anti-corrosion coatings due to rapid urbanization which has positively contributed to the growth of various sectors like construction, chemical, and power generation. Further, according to the United Nations, as of 2020, 33 megacities in the world requires planned habitation for the rapidly growing urban population rate of 1.84%. Moreover, corrosion of reinforcing steel in concrete is a persistent problem worldwide that has led to structure deterioration at an extremely high rate. The corrosion issue makes up for more than 80% of all damage to reinforced concrete structures leading to further drive the studied market.

In the year 2019, the market was found to be consolidated. Some of the key players in the market are PPG Industries Inc., AkzoNobel NV, Nippon Paints, RPM International Inc., and The Sherwin-Williams Company, among others.

In June 2020, PPG Industries announced that its PPG NOVAGUARD® 810ER coating had been qualified by the US Naval Sea Systems Command (NAVSEA®) for use on potable water tanks. This qualification makes it the only coating that passes NAVSEA tests for six classes of tanks: fuel tanks, seawater ballast tanks, chemical holding tanks, bilges, well deck overheads, and potable or freshwater tanks. Moreover, In March 2020, a new wave of water-based paint, Hammerite Ultima, is being launched by AkzoNobel. It is suitable for use on all types of metal and provides a supreme protective barrier. It can also be applied directly onto any metal surface and rust without the need for a primer. Suitable for anything from gates and fences to railings and garden furniture, the new product is now available in Germany, Spain, and France.

GlobalAnti-corrosion Coatings Marketreport provides deep insight into the current and future state of the Anti-corrosion coatings market across various regions.The study comprehensively analyzes theAnti-corrosion coatings market by segmenting based on geography, By Resin (Epoxy, Acrylic, Polyurethane, Alkyd, Zinc, and Others), By Technology (Water-borne, Solvent-borne, Powder, and UV-cured), and By End-User Industry (Oil & Gas, Transportation, Construction, Power Generation, Water & Sewage, and Others). The report examines the market drivers and restraints that are influencing the growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with profiles of major companies including their market shares and projects.