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Corrosion Protection Coating Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: August, 2022
No of Pages: 153
Delivery Format: PDF + Excel

$2,950.00

The corrosion protection coating market size was valued at USD 10 billion in 2021 and is projected to reach USD 12.5 billion by 2030, expanding at a CAGR of around 5% during the forecast period, 2022 – 2030. The growth of the market is attributed to the increasing demand from industries such as automotive, manufacturing, and oil & gas.

The purpose of a protective coating is to prevent or inhibit corrosion by adding a layer of substance to the surface of another material. A shielding layer could be non-metallic or metallic. In addition to preventing corrosion, protective coatings can be applied utilizing a variety of techniques. Polyurethanes, epoxies, and polymers are frequently used substances in non-metallic protective coatings. Zinc, aluminium, and chromium are among the materials used to make metallic protective coatings.

A large portion of the industrial coatings market is made up of corrosion protective coatings owing to its advantages. They consist of increased dimensional stability, improved toughness, chemicals & heat resistance, abrasion, and UV light. The improved adherence of these materials to steel structures at high temperatures, combined with superior weathering resistance to chemical spills and mild industrial atmosphere, is projected to increase demand.

The value chain for corrosion protection coatings is made up of raw material suppliers, producers, distributors, and end-use industries. In order to create corrosion protection, different resin components are combined with hardeners, adding value to the basic coating.

Corrosion Protection Coating Market Report Scope and Segmentation

ATTRIBUTESDETAILS
ESTIMATED YEAR2022
BASE YEAR2021
FORECAST YEAR2030
HISTORICAL YEAR2017-2021
UNITValue (USD Million/Billion)
BY REGIONNorth America, Europe, Asia Pacific, Latin America, Middle East and Africa

Market Trends, Drivers, Restraints, and Opportunities

  • Additional advantages of epoxy-based coatings, such as increased toughness and durability are projected to drive the market in the coming years.
  • Regional governments in developed economies like the U.S. and Europe are focusing more on reducing the VOC content of epoxy-based products, which is anticipated to fuel the market.
  • Increasing use of substitutes in the market is expected to hinder the market growth.
  • Strict environment laws to reduce VOC emission from coatings act a major factor that can hamper the market growth.
  • R&D investment and technological advancement is anticipated to create immense growth opportunities for the market players during the forecast period.

Scope of the Report

The report on the global corrosion protection coating market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

AttributesDetails
Report TitleCorrosion Protection Coating Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year2021
Historic Data2017–2021
Forecast Period2022 – 2030
SegmentationTechnology (Powder-based, Solvent-based, Water-based, and Others), Resin Types (Chlorinated Rubber, Acrylic, Alkyd, Zinc, Polyurethane, Epoxy, and Others), End-users (Water Treatment, Power Generation, Infrastructure, Petrochemical, Oil & Gas, Marine, and Others)
Regional ScopeAsia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report CoverageCompany Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the ReportThe Sherwin-Williams Company; Teknos; PPG Industries; Nippon Paint Holdings Co., Ltd.; Kansai Paint Co., Ltd.; Jotun Group, Inc.; Hempel Group; Chugoku Marine Paints; Axalta Coating Systems; and AkzoNobel N. V

Market Segment Insights

The water-based segment is projected to grow at a rapid pace during the forecast period

Based on technology, the market is segregated into powder-based, solvent-based, water-based, and others. The water-based segment is projected to grow at a rapid pace during the forecast period owing to increasing demand from the infrastructure and industrial sectors. Water serves as the main solvent in the water-based corrosion prevention coatings technology. With this method, there is no need for a solvent because the coating contains up to 80% water. Being less VOC-emitting, it is environmentally safe. However, more advancements in this technology are required to reduce production costs and improve the quality of water-based coatings relative to solvent-based coatings.

The epoxy segment held a major market share in 2021

On the basis of resin types, the market is fragmented into chlorinated rubber, acrylic, alkyd, zinc, polyurethane, epoxy, and others. The epoxy segment held a major market share in 2021. Epoxy has a higher demand because of its numerous uses, high corrosion resistance, and water resistance. Epoxies are resistant to the majority of pollutants and provide excellent coatings for corrosion prevention.

The oil & gas segment is expected to account for a major market share

In terms of end-users, the market is divided into water treatment, power generation, infrastructure, petrochemical, oil & gas, marine, and others. The oil & gas segment is expected to account for a major market share. Growth of the segment is attributed to the extensive usage of corrosion protective coatings. The demand for corrosion protection coating is expected to rise as a result of developments in oil & gas infrastructure in India, Indonesia, Japan, and China as well as the expansion of oil reserves in the South China Sea.

Asia Pacific dominated the market in 2021

On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominated the market in 2021. Growth of the market in the region is attributed to expanding Petrochemical, infrastructural, and power generation industries. The market is also being driven by rapid industrialization and rising living standards in Asia Pacific. Decreasing prices and growing awareness about corrosion protection coatings is estimated to boost the market. China has experienced fast industrialization as a result of changes in industrial policies and the liberalization of foreign trade and investments. The market in Europe is anticipated to expand at a substantial rate during the forecast period due to increased investment by manufacturing enterprises in capacity expansion and development. The demand is anticipated to be fueled by growing R&D efforts in the transportation and automotive industries to enhance metal chemistry and extend the shelf life.

Segments

The global corrosion protection coating market has been segmented on the basis of

Technology

  • Powder-based
  • Solvent-based
  • Water-based
  • Others

Resin Types

  • Chlorinated Rubber
  • Acrylic
  • Alkyd
  • Zinc
  • Polyurethane
  • Epoxy
  • Others

End-users

  • Water Treatment
  • Power Generation
  • Infrastructure
  • Petrochemical
  • Oil & Gas
  • Marine
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • The Sherwin-Williams Company
  • Teknos
  • PPG Industries
  • Nippon Paint Holdings Co., Ltd.
  • Kansai Paint Co., Ltd.
  • Jotun Group, Inc.
  • Hempel Group
  • Chugoku Marine Paints
  • Axalta Coating Systems
  • AkzoNobel N.V

Competitive Landscape

Key players competing in the corrosion protection coating market include The Sherwin-Williams Company; Teknos; PPG Industries; Nippon Paint Holdings Co., Ltd.; Kansai Paint Co., Ltd.; Jotun Group, Inc.; Hempel Group; Chugoku Marine Paints; Axalta Coating Systems; and AkzoNobel N.V. Some of these players are using several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,

  • In June 2021, AkzoNobel announced that it has acquired the paint and coatings company Grupo Orbis in Colombia. The company has created a leading position globally due to the acquisition, which has also helped to fuel expansion in emerging areas.
  • In June 2021, A novel technology created by Das Lack Enertherm (DLE) was acquired by Hempel Group. The company was able to enter the insulation coatings market owing to the acquisition, which also brought new business opportunities.

CHAPTER 1:INTRODUCTION

1.1.Report description

1.2.Key benefits for stakeholders

1.3.Key market segments

1.4.Research methodology

1.4.1.Secondary research

1.4.2.Primary research

1.5.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study

2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope

3.2.Key findings

3.2.1.Top investment pockets

3.3.Porter’s five forces analysis

3.4.Market dynamics

3.4.1.Drivers

3.4.1.1.Increase in awareness about ecofriendly products

3.4.1.2.Increase in investment across end user industries

3.4.1.3.Superior performance of anti-corrosion powder coatings

3.4.2.Restraint

3.4.2.1.Limitations of epoxy anti-corrosion coating

3.4.2.2.Government regulations

3.4.3.Opportunity

3.4.3.1.Increase in demand for anti-corrosion coating in marine industry to improve efficiency

3.4.3.2.Increase in applications of anti-corrosion coating in solar and wind energy industry

3.5.Parent peer market overview

3.6.Patent analysis, 2015–2018

3.6.1.Patent analysis by country

3.6.2.Patent analysis by applicant, 2015–2018

3.7.Impact of government rules and regulations

3.7.1.Environmental Protection Agency’s (EPA) regulation for VOC in coating

3.8.Pricing analysis

CHAPTER 4:ANTI-CORROSION COATING MARKET, BY TYPE

4.1.Overview

4.1.1.Market size and forecast

4.2.Epoxy

4.2.1.Key market trends, growth factors, and opportunities

4.2.2.Market size and forecast, by region

4.2.3.Market share analysis, by country

4.3.Polyurethane

4.3.1.Key market trends, growth factors, and opportunities

4.3.2.Market size and forecast, by region

4.3.3.Market share analysis, by country

4.4.Acrylic

4.4.1.Key market trends, growth factors, and opportunities

4.4.2.Market size and forecast, by region

4.4.3.Market share analysis, by country

4.5.Alkyd

4.5.1.Key market trends, growth factors, and opportunities

4.5.2.Market size and forecast, by region

4.5.3.Market share analysis, by country

4.6.Zinc

4.6.1.Key market trends, growth factors, and opportunities

4.6.2.Market size and forecast, by region

4.6.3.Market share analysis, by country

4.7.Chlorinated Rubber

4.7.1.Key market trends, growth factors, and opportunities

4.7.2.Market size and forecast, by region

4.7.3.Market share analysis, by country

4.8.Others

4.8.1.Key market trends, growth factors, and opportunities

4.8.2.Market size and forecast, by region

4.8.3.Market share analysis, by country

CHAPTER 5:ANTI-CORROSION COATING MARKET, BY TECHNOLOGY

5.1.Overview

5.1.1.Market size and forecast

5.2.Solvent-borne

5.2.1.Key market trends, growth factors, and opportunities

5.2.2.Market size and forecast, by region

5.2.3.Market share analysis, by country

5.3.Waterborne

5.3.1.Key market trends, growth factors, and opportunities

5.3.2.Market size and forecast, by region

5.3.3.Market share analysis, by country

5.4.Powder Coatings

5.4.1.Key market trends, growth factors, and opportunities

5.4.2.Market size and forecast, by region

5.4.3.Market share analysis, by country

5.5.Others

5.5.1.Key market trends, growth factors, and opportunities

5.5.2.Market size and forecast, by region

5.5.3.Market share analysis, by country

CHAPTER 6:ANTI-CORROSION COATINGMARKET, BY END-USE INDUSTRY

6.1.Overview

6.1.1.Market size and forecast

6.2.Marine

6.2.1.Key market trends, growth factors, and opportunities

6.2.2.Market size and forecast, by region

6.2.3.Market share analysis, by country

6.3.Oil & gas

6.3.1.Key market trends, growth factors, and opportunities

6.3.2.Market size and forecast, by region

6.3.3.Market share analysis, by country

6.4.Industrial

6.4.1.Key market trends, growth factors, and opportunities

6.4.2.Market size and forecast, by region

6.4.3.Market share analysis, by country

6.5.Construction

6.5.1.Key market trends, growth factors, and opportunities

6.5.2.Market size and forecast, by region

6.5.3.Market share analysis, by country

6.6.Energy

6.6.1.Key market trends, growth factors, and opportunities

6.6.2.Market size and forecast, by region

6.6.3.Market share analysis, by country

6.7.Automotive

6.7.1.Key market trends, growth factors, and opportunities

6.7.2.Market size and forecast, by region

6.7.3.Market share analysis, by country

6.8.Others

6.8.1.Key market trends, growth factors, and opportunities

6.8.2.Market size and forecast, by region

6.8.3.Market share analysis, by country

CHAPTER 7:ANTI-CORROSION COATING MARKET, BY REGION

7.1.Overview

7.1.1.Market size and forecast, by region

7.2.North America

7.2.1.Key market trends, growth factors, and opportunities

7.2.2.Market size and forecast, by type

7.2.3.Market size and forecast, by technology

7.2.4.Market size and forecast, by end-use industry

7.2.5.Market size and forecast by country

7.2.6.U.S.

7.2.6.1.Market size and forecast, by type

7.2.6.2.Market size and forecast, by technology

7.2.6.3.Market size and forecast, by end-use industry

7.2.7.Canada

7.2.7.1.Market size and forecast, by type

7.2.7.2.Market size and forecast, by technology

7.2.7.3.Market size and forecast, by end-use industry

7.2.8.Mexico

7.2.8.1.Market size and forecast, by type

7.2.8.2.Market size and forecast, by technology

7.2.8.3.Market size and forecast, by end-use industry

7.3.Europe

7.3.1.Key market trends, growth factors, and opportunities

7.3.2.Market size and forecast, by type

7.3.3.Market size and forecast, by technology

7.3.4.Market size and forecast, by end-use industry

7.3.5.Market size and forecast by country

7.3.6.Germany

7.3.6.1.Market size and forecast, by type

7.3.6.2.Market size and forecast, by technology

7.3.6.3.Market size and forecast, by end-use industry

7.3.7.UK

7.3.7.1.Market size and forecast, by type

7.3.7.2.Market size and forecast, by technology

7.3.7.3.Market size and forecast, by end-use industry

7.3.8.France

7.3.8.1.Market size and forecast, by type

7.3.8.2.Market size and forecast, by technology

7.3.8.3.Market size and forecast, by end-use industry

7.3.9.Italy

7.3.9.1.Market size and forecast, by type

7.3.9.2.Market size and forecast, by technology

7.3.9.3.Market size and forecast, by end-use industry

7.3.10.Spain

7.3.10.1.Market size and forecast, by type

7.3.10.2.Market size and forecast, by technology

7.3.10.3.Market size and forecast, by end-use industry

7.3.11.Rest of Europe

7.3.11.1.Market size and forecast, by type

7.3.11.2.Market size and forecast, by technology

7.3.11.3.Market size and forecast, by end-use industry

7.4.Asia-Pacific

7.4.1.Key market trends, growth factors, and opportunities

7.4.2.Market size and forecast, by type

7.4.3.Market size and forecast, by technology

7.4.4.Market size and forecast, by end-use industry

7.4.5.Market size and forecast by country

7.4.6.China

7.4.6.1.Market size and forecast, by type

7.4.6.2.Market size and forecast, by technology

7.4.6.3.Market size and forecast, by end-use industry

7.4.7.Japan

7.4.7.1.Market size and forecast, by type

7.4.7.2.Market size and forecast, by technology

7.4.7.3.Market size and forecast, by end-use industry

7.4.8.India

7.4.8.1.Market size and forecast, by type

7.4.8.2.Market size and forecast, by technology

7.4.8.3.Market size and forecast, by end-use industry

7.4.9.Korea

7.4.9.1.Market size and forecast, by type

7.4.9.2.Market size and forecast, by technology

7.4.9.3.Market size and forecast, by end-use industry

7.4.10.Rest of Asia-Pacific

7.4.10.1.Market size and forecast, by type

7.4.10.2.Market size and forecast, by technology

7.4.10.3.Market size and forecast, by end-use industry

7.5.LAMEA

7.5.1.Key market trends, growth factors, and opportunities

7.5.2.Market size and forecast, by type

7.5.3.Market size and forecast, by technology

7.5.4.Market size and forecast, by end-use industry

7.5.5.Market size and forecast by country

7.5.6.Brazil

7.5.6.1.Market size and forecast, by type

7.5.6.2.Market size and forecast, by technology

7.5.6.3.Market size and forecast, by end-use industry

7.5.7.Argentina

7.5.7.1.Market size and forecast, by type

7.5.7.2.Market size and forecast, by technology

7.5.7.3.Market size and forecast, by end-use industry

7.5.8.UAE

7.5.8.1.Market size and forecast, by type

7.5.8.2.Market size and forecast, by technology

7.5.8.3.Market size and forecast, by end-use industry

7.5.9.Qatar

7.5.9.1.Market size and forecast, by type

7.5.9.2.Market size and forecast, by technology

7.5.9.3.Market size and forecast, by end-use industry

7.5.10.Rest of LAMEA

7.5.10.1.Market size and forecast, by type

7.5.10.2.Market size and forecast, by technology

7.5.10.3.Market size and forecast, by end-use industry

CHAPTER 8:COMPETITIVE LANDSCAPE

8.1.Introduction

8.1.1.MARKET PLAYER POSITIONING, 2019

8.2.TOP WINNING STRATEGIES

8.2.1.Top winning strategies, by year

8.2.2.Top winning strategies, by development

8.2.3.Top winning strategies, by company

8.3.PRODUCT MAPPING OF TOP 10 PLAYER

8.4.COMPETITIVE DASHBOARD

8.5.COMPETITIVE HEATMAP

8.6.KEY DEVELOPMENTS

8.6.1.New product launches

8.6.2.Expansions

8.6.3.Mergers and acquisition

CHAPTER 9:COMPANY PROFILES

9.1.AkzoNobel N.V.

9.1.1.Company overview

9.1.2.Company snapshot

9.1.3.Operating business segments

9.1.4.Product portfolio

9.1.5.Business performance

9.1.6.Key strategic moves and developments

9.2.BASF SE

9.2.1.Company overview

9.2.2.Company snapshot

9.2.3.Operating business segments

9.2.4.Product portfolio

9.2.5.Business performance

9.2.6.Key strategic moves and developments

9.3.Hempel Holdings A/S

9.3.1.Company overview

9.3.2.Company snapshot

9.3.3.Product portfolio

9.3.4.Business performance

9.3.5.Key strategic moves and developments

9.4.Kansai Paints Co. Ltd.

9.4.1.Company overview

9.4.2.Company snapshot

9.4.3.Product portfolio

9.4.4.Business performance

9.4.5.Key strategic moves and developments

9.5.NIPPON PAINT HOLDINGS CO. LTD.

9.5.1.Company overview

9.5.2.Company snapshot

9.5.3.Operating business segments

9.5.4.Product portfolio

9.5.5.Business performance

9.5.6.Key strategic moves and developments

9.6.PPG Industries Inc.

9.6.1.Company overview

9.6.2.Company snapshot

9.6.3.Operating business segments

9.6.4.Product portfolio

9.6.5.Business performance

9.6.6.Key strategic moves and developments

9.7.The Dow Chemical Company

9.7.1.Company overview

9.7.2.Company snapshot

9.7.3.Product portfolio

9.7.4.Business performance

9.7.5.Key strategic moves and developments

9.8.The Sherwin-Williams Company

9.8.1.Company overview

9.8.2.Company snapshot

9.8.3.Operating business segments

9.8.4.Product portfolio

9.8.5.Business performance

9.8.6.Key strategic moves and developments

9.9.WackerChemie AG.

9.9.1.Company overview

9.9.2.Company snapshot

9.9.3.Operating business segments

9.9.4.Product portfolio

9.9.5.Business performance

9.9.6.Key strategic moves and developments

9.10.3M

9.10.1.Company overview

9.10.2.Company snapshot

9.10.3.Operating business segments

9.10.4.Product portfolio

9.10.5.Business performanc

 

Technology

  • Powder-based
  • Solvent-based
  • Water-based
  • Others

Resin Types

  • Chlorinated Rubber
  • Acrylic
  • Alkyd
  • Zinc
  • Polyurethane
  • Epoxy
  • Others

End-users

  • Water Treatment
  • Power Generation
  • Infrastructure
  • Petrochemical
  • Oil & Gas
  • Marine
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
  • The Sherwin-Williams Company
  • Teknos
  • PPG Industries
  • Nippon Paint Holdings Co., Ltd.
  • Kansai Paint Co., Ltd.
  • Jotun Group, Inc.
  • Hempel Group
  • Chugoku Marine Paints
  • Axalta Coating Systems
  • AkzoNobel N.V

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