Anticorrosion Coatings Market is expected to reach US$ 38,175.87 million by 2030

Strong Growth of Building & Construction Industry Drives Global Anticorrosion Coatings Market Growth

According to the latest market study on “Global Anticorrosion Coatings Market Analysis & Forecast to 2030 –Global Analysis – by Resin Type, Technology, and End-Use," the market was valued at US$ 24,837.37 million in 2022 and is expected to reach US$ 38,175.87 million by 2030; it is estimated to register a CAGR of 5.5% from 2022 to 2030. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

The anticorrosion coatings market is a vital segment within the global coatings industry, driven by the need to protect metal surfaces from corrosion and degradation caused by environmental factors. Anticorrosion coatings are formulated to provide a protective barrier against moisture, chemicals, saltwater, UV radiation, and other corrosive agents, extending the lifespan and performance of metal substrates across various industries. The market for anticorrosion coatings is propelled by several key factors, including the expansion of infrastructure development projects, increasing demand from end-use industries such as oil & gas, marine, automotive, aerospace, and construction, and growing awareness about the benefits of corrosion prevention in enhancing asset longevity and reducing maintenance costs. The global anticorrosion coatings market size is likely to surge by 2030 owing to the strong growth of the building & construction industry. Major factors driving the market growth are the strong presence of oil & gas industry and the growing demand for anticorrosion coatings from the automotive industry.

Global Anticorrosion Coatings Market Breakdown – by Region

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In the oil and gas sector, anticorrosion coatings are essential for protecting pipelines, storage tanks, offshore platforms, and equipment from corrosion caused by exposure to harsh environments, corrosive chemicals, and high-pressure conditions. Further, the growing prominence of marine applications, including shipbuilding and offshore structures, has been contributing significantly to the anticorrosion coatings market growth. Similarly, in the marine industry, anticorrosion coatings are used to safeguard ship hulls, maritime structures, and marine equipment from corrosion and fouling, ensuring vessel integrity and operational efficiency. The automotive and aerospace industries utilize anticorrosion coatings to protect vehicle components, aircraft structures, and aerospace equipment from corrosion, enhancing safety, reliability, and performance. As infrastructure projects continue to expand globally, particularly in emerging economies, the demand for high-performance anticorrosion coatings is expected to surge. Thus, the automotive industry is also one of the major contributor to the growing anticorrosion coatings market size.

The global anticorrosion coatings market trends include growing demand for eco-friendly solutions. With increasing environmental awareness and stringent regulations governing VOC emissions and hazardous chemicals, there is a growing demand for eco-friendly anticorrosion coatings. Manufacturers are investing in the development of water-borne, solvent-free, and low-VOC coatings to meet sustainability goals and comply with regulatory standards.

RPM International Inc, The Sherwin-Williams Co, Akzo Nobel NV, Jotun AS, PPG Industries Inc, 3M Co, The Progressive Center Co for Construction Chemicals Ltd, Nippon Paint Holdings Co Ltd, BASF SE, and HB Fuller Co are among the prominent players profiled in the anticorrosion coatings market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The anticorrosion coatings market report also includes company positioning and concentration to evaluate the performance of competitors/players in the market.

The report aims to provide an overview of the market with detailed market segmentation. The market is segmented on the basis of resin type, technology, and end-use. Based on resin type, the market is segmented into epoxy, polyurethane, acrylic, alkyd, vinyl ester, and others. The epoxy segment accounts for the largest anticorrosion coatings market share. Epoxy anticorrosion coatings, coatings are formulated using epoxy resins, which provide a strong and durable barrier against corrosive elements such as moisture, chemicals, and saltwater. One of the key advantages of epoxy-based anticorrosion coatings is their excellent adhesion properties. They form a tight bond with various substrates, including steel, concrete, and aluminum, ensuring long-lasting protection against corrosion. This adhesion also helps to prevent the penetration of moisture and other corrosive agents into the metal surface. Based on technology, the market is segmented into solvent-borne, water-borne, and others. The water-borne segment accounts for the largest anticorrosion coatings market share. Water-borne anticorrosion coatings represent a significant advancement in coating technology, offering environmentally friendly and sustainable solutions for corrosion protection across various industries. These coatings, formulated with water as the primary solvent instead of traditional solvents like volatile organic compounds (VOCs), provide numerous benefits such as reduced environmental impact, improved worker safety, and compliance with stringent regulatory standards. Water-borne anticorrosion coatings form a protective barrier on metal surfaces, inhibiting corrosion and extending the lifespan of infrastructure assets, equipment, and machinery exposed to corrosive environments. One of the key advantages of water-borne anticorrosion coatings is their low VOC content, which significantly reduces air emissions and environmental pollution during application and curing. This aligns with the increasing focus on sustainability and green initiatives within the coatings industry, driving the adoption of water-borne coatings as a preferred choice for corrosion protection. Based on end-use, the market is segmented into marine, oil and gas, power, automotive, building and construction, aerospace and defense, and others. The utilization of anticorrosion coatings in the marine industry is imperative for preserving the structural integrity and longevity of vessels and marine structures subjected to harsh and corrosive marine environments. Seawater, with its high salt content, poses a significant threat to metal components, making corrosion a pervasive challenge. To overcome this, anticorrosion coatings are applied to these components. These coatings are precisely formulated to withstand the corrosive effects of saltwater, moisture, and atmospheric conditions. In marine applications, anticorrosion coatings find extensive use on ship hulls, offshore platforms, pipelines, and other submerged or exposed metallic structures. The coatings act as protective barriers, preventing direct contact between corrosive elements and the metal surface. The implementation of anticorrosion coatings in the oil & gas industry is critical for safeguarding infrastructure and equipment from the corrosive challenges posed by harsh operating environments. Pipelines, storage tanks, drilling equipment, and various components in the oil & gas sector are constantly exposed to corrosive elements such as moisture, corrosive gases, and chemicals.

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