COVID-19 Impact on Anti-Corrosion Coatings Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, and construction materials are facing a diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in the supply of raw materials, which directly affected the manufacturing process. Further, a halt in many end-use industries directly affected the chemical demand all around the world.
Anti-Corrosion Coatings Market Overview
The global Anti-Corrosion Coatings Market was valued at $23.5 billion in 2021 and is expected to rise at a 9.1% CAGR from 2023 to 2030, reaching $41.2 billion by 2027.
Anti-corrosion coatings are used to protect metal and concrete structures, tanks, pipes, and processing equipment from deterioration. Mostly, these coatings are used in oil refineries, chemical plants, pulp and paper mills, and others.
A few of the marine industry components such as container ships, offshore, cargos and onshore vessels, surface warships, and submarines that require protective coatings for their overall durability. Therefore, growth in the marine industry is facilitating market development. Growth in maintenance and repair activities in the global oil & gas industry, especially for oil drilling equipment, offshore installation machinery, process vessels, and transmission pipelines, is expected to propel the market growth in coming years.
In the Asia Pacific region, increasing construction associated with oil & gas industry expansion is likely to enlarge the global anti-corrosion market during the forecast period. The major reasons contributing to growth in market development are the increasing demand for steel in the construction & automotive industry, increase in offshore growth, growing marine industry as well as development in infrastructure across the different regions.
On the other hand, fluctuation in the prices of raw materials and strict rules and regulations of government may restrain the growth of the global anti-corrosion coatings market. However, research and development activities to produce bio-based anti-corrosion coatings will open new opportunities for the market over the forecast period.
Anti-Corrosion Coatings Market Segment Overview
Increasing demand for acrylic coatings is expected to fuel the market. These coatings offer higher structural and mechanical characteristics as compare to anti-corrosion coatings such as alkyd and vinyl coatings. Acrylic coatings are chemically inert and have a high color retention rate. Currently, epoxy coatings are extensively used as anti-corrosion coatings globally. Epoxy coatings protect substrates from deterioration and It has excellent adhesion and flexibility. Hence, they are highly in demand in various end-user industries.
The remarkable growth in transport infrastructure in the Asia Pacific is expected to drive the market during the forecast period. A huge amount of metal and steel in the construction of bridges, roadways, waterways, highways, railways, and airports is likely to provide good opportunities to the anti-corrosion coatings market in the forthcoming year.
Anti-Corrosion Coatings Regional Overview
North America is expected to provide lucrative opportunities for the Anti-corrosion Coatings market. Owing to development in the power generation sub-sectors such as hydroelectric, wind, solar, nuclear power, thermal, and shale gas. Also, expansions in energy-efficient smart grids and transmission systems are expected to rise the growth of the Anti-Corrosion Coatings Market. The U.S. has a larger opportunity for Anti-corrosion Coating’s market in the near future.
The market of the Asia Pacific is projected to grow at the fastest rate owing to the increasing development of pharmaceutical, health care industries, and the construction industry. Additionally, rapid infrastructure development in major countries of the Asia Pacific such as China, India, Indonesia, Singapore, and Malaysia are expected to boost the demand for anti-corrosion coatings.
Anti-Corrosion Coatings Market Competitor Overview
· In December 2019, RPM International Inc. announced that its Mantrose-Haeuser Co., Inc. business has acquired Profile Food Ingredients, LLC, a manufacturer of dry stabilizer and emulsifier blends for the food industry.
· In October 2019, AkzoNobel launched a range of high-performance primers for corrosion protection.
· In August 2018, RPM International Inc. announced that its Rust-Oleum group has acquired the Mean Green branded line of specialty cleaning products and the exclusive North American licensing for Roto-Rooter branded drain care products from CR Brands, which is based in Cincinnati, Ohio.
· In March 2018, RPM International Inc. declared that its Rust-Oleum Group had acquired Miracle Sealants Company.
· In October 2017, 3M declared that it has completed the acquisition of Scott Safety, a premier manufacturer of innovative products, such as self-contained breathing apparatus (SCBA) systems, gas and flame detection instruments, and other safety devices.
· In May 2017, AkzoNobel has opened a new Performance Coatings production facility in Chonburi, Thailand. With an investment of €31 million, AkzoNobel expands its footprint with this ninth production site in the South East Asia region.
· In November 2017, Nippon Paint Co., Ltd. was involved in a discussion with Axalta regarding a potential acquisition of Axalta.
Anti-Corrosion Coatings Market, Key Players
· Akzo Nobel N.V.
· Ashland
· Axalta Coating Systems, LLC
· BASF SE
· Hempel A/S
· Jotun
· Kansai Paint Co., Ltd.
· PPG Industries, Inc.
· RPM INTERNATIONAL INC.
· The Sherwin-Williams Company
· Nippon Paint Holdings Co., Ltd
· 3M.
Anti-Corrosion Coatings Market Segmentation
Anti-Corrosion Coatings Market, By Type
· Epoxy
· Polyurethane
· Acrylic
· Alkyd
· Zinc
· Chlorinated Rubber
· Others
Anti-Corrosion Coatings Market, By Technology
· Solvent-Borne
· Waterborne
· Powder
· Others (High-Energy Cure Coatings and Nanocoatings)
Anti-Corrosion Coatings Market, By End-User Industry
· Marine
· Oil & Gas
· Industrial
· Construction
· Energy
· Automotive
· Others
Anti-Corrosion Coatings market, By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
List of Figures
Figure 1: Global Anti-Corrosion Coatings Market Revenue Breakdown (USD Billion, %) by Region, 2023 & 2030
Figure 2: Global Anti-Corrosion Coatings Market Value Share (%), By Segment 1, 2023 & 2030
Figure 3: Global Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 4: Global Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 5: Global Anti-Corrosion Coatings Market Value Share (%), By Segment 2, 2023 & 2030
Figure 6: Global Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 7: Global Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 8: Global Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 9: Global Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 10: Global Anti-Corrosion Coatings Market Value Share (%), By Segment 3, 2023 & 2030
Figure 11: Global Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 12: Global Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 13: Global Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 14: Global Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 15: Global Anti-Corrosion Coatings Market Value (USD Billion), by Region, 2023 & 2030
Figure 16: North America Anti-Corrosion Coatings Market Value Share (%), By Segment 1, 2023 & 2030
Figure 17: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 18: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 19: North America Anti-Corrosion Coatings Market Value Share (%), By Segment 2, 2023 & 2030
Figure 20: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 21: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 22: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 23: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 24: North America Anti-Corrosion Coatings Market Value Share (%), By Segment 3, 2023 & 2030
Figure 25: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 26: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 27: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 28: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 29: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by U.S., 2021-2030
Figure 30: North America Anti-Corrosion Coatings Market Forecast (USD Billion), by Canada, 2021-2030
Figure 31: Latin America Anti-Corrosion Coatings Market Value Share (%), By Segment 1, 2023 & 2030
Figure 32: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 33: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 34: Latin America Anti-Corrosion Coatings Market Value Share (%), By Segment 2, 2023 & 2030
Figure 35: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 36: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 37: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 38: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 39: Latin America Anti-Corrosion Coatings Market Value Share (%), By Segment 3, 2023 & 2030
Figure 40: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 41: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 42: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 43: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 44: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Brazil, 2021-2030
Figure 45: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Mexico, 2021-2030
Figure 46: Latin America Anti-Corrosion Coatings Market Forecast (USD Billion), by Rest of Latin America, 2021-2030
Figure 47: Europe Anti-Corrosion Coatings Market Value Share (%), By Segment 1, 2023 & 2030
Figure 48: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 49: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 50: Europe Anti-Corrosion Coatings Market Value Share (%), By Segment 2, 2023 & 2030
Figure 51: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 52: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 53: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 54: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 55: Europe Anti-Corrosion Coatings Market Value Share (%), By Segment 3, 2023 & 2030
Figure 56: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 57: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 58: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 59: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 60: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by U.K., 2021-2030
Figure 61: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Germany, 2021-2030
Figure 62: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by France, 2021-2030
Figure 63: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Italy, 2021-2030
Figure 64: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Spain, 2021-2030
Figure 65: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Russia, 2021-2030
Figure 66: Europe Anti-Corrosion Coatings Market Forecast (USD Billion), by Rest of Europe, 2021-2030
Figure 67: Asia Pacific Anti-Corrosion Coatings Market Value Share (%), By Segment 1, 2023 & 2030
Figure 68: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 69: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 70: Asia Pacific Anti-Corrosion Coatings Market Value Share (%), By Segment 2, 2023 & 2030
Figure 71: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 72: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 73: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 74: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 75: Asia Pacific Anti-Corrosion Coatings Market Value Share (%), By Segment 3, 2023 & 2030
Figure 76: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 77: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 78: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 79: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 80: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by China, 2021-2030
Figure 81: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by India, 2021-2030
Figure 82: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Japan, 2021-2030
Figure 83: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Australia, 2021-2030
Figure 84: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Southeast Asia, 2021-2030
Figure 85: Asia Pacific Anti-Corrosion Coatings Market Forecast (USD Billion), by Rest of Asia Pacific, 2021-2030
Figure 86: Middle East & Africa Anti-Corrosion Coatings Market Value Share (%), By Segment 1, 2023 & 2030
Figure 87: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 88: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 89: Middle East & Africa Anti-Corrosion Coatings Market Value Share (%), By Segment 2, 2023 & 2030
Figure 90: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 91: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 92: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 93: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 94: Middle East & Africa Anti-Corrosion Coatings Market Value Share (%), By Segment 3, 2023 & 2030
Figure 95: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 96: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 97: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 98: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Others, 2021-2030
Figure 99: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by GCC, 2021-2030
Figure 100: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by South Africa, 2021-2030
Figure 101: Middle East & Africa Anti-Corrosion Coatings Market Forecast (USD Billion), by Rest of Middle East & Africa, 2021-2030
List of Tables
Table 1: Global Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 2: Global Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 3: Global Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 4: Global Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Region, 2021-2030
Table 5: North America Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 6: North America Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 7: North America Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 8: North America Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 9: Europe Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 10: Europe Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 11: Europe Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 12: Europe Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 13: Latin America Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 14: Latin America Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 15: Latin America Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 16: Latin America Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 17: Asia Pacific Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 18: Asia Pacific Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 19: Asia Pacific Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 20: Asia Pacific Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 21: Middle East & Africa Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 22: Middle East & Africa Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 23: Middle East & Africa Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 24: Middle East & Africa Anti-Corrosion Coatings Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Research Process
Data Library Research are conducted by industry experts who offer insight on
industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager
and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
