At 5.5% CAGR, Anti-Corrosion Coating Market Size Worth USD $24.7 billion by 2026: IndustryARC

September 01 22:05 2022
At 5.5% CAGR, Anti-Corrosion Coating Market Size Worth USD $24.7 billion by 2026: IndustryARC
Market Research Reports, Business Consulting Services & Analytics
As anti-corrosion coatings are extensively used in the oil & gas industry for coating various equipment’s including oil storage tanks, drill bits, and drill pipes, the growth in the oil & gas industry will drive anticorrosion coatings market growth.

IndustryARC, in one of its latest reports, predicted that the anti-corrosion coating market size is forecast to reach $24.7 billion by 2026, after growing at a CAGR of 5.5% during 2021-2026. The growing demand of Chlorinated Rubber, Epoxy coating, and Polyurethane-alkyd resin coatings due to growing use for maintenance paints, traffic marking, swimming pool paint, adhesives, and fire retardants further drive the growth of anticorrosion coatings market. The anticorrosion coatings market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.


Competitive Landscape:

The top 5 players in the anticorrosion coatings industry are:


2. Hempel A/S

3. PPG Industries

4. Kansai Paint Co., Ltd.

5. Jotun


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Segmental Analysis:

1. Resin Type segment held the largest share in the anti-corrosion coatings market in 2020 and is anticipated to grow at a CAGR of 6.3% through the forecast period. 

2. Solvent-borne technology held the largest share of around 45% in the anti-corrosion coatings market in 2020, as these coatings are widely used in several applications and exhibit more toughness among others.

3. Oil & Gas is the dominant application for anticorrosion coatings market and is anticipated to grow at a CAGR of 3.86% through the forecast period. In the oil & gas industry, corrosion in the pipelines or storage system due to reactive chemicals or organic salt in the oil can eventually cause a loss of containment of process fluids or can lead to a serious accident affecting workers, the environment, and the economy.

4. APAC dominated the anti-corrosion coatings market with a share of approximately 56% in 2019, owning to growing investments in the infrastructure and construction industry in emerging countries such as China, India, and Japan. In 2019, China approved to invest $142 billion in 26 infrastructure projects.


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Market Drivers and Challenges:

1. Anti-corrosion coatings are extensively used in the iron pillars of the building, which reduces the risk of damage caused by rusting or corrosion, as well as it is also used as roof-top coating preventing any reaction from the atmospheric pollutants. A surge in economic losses owning to corrosion of structure has increased the usage of anticorrosion coatings in the construction and infrastructure sector.

2. Due to the increasing expectations of consumers, the automotive manufacturing industries are required to extend vehicle warranties. Thus improvements in corrosion protection are becoming increasingly important, which is driving anticorrosion coatings usage. Therefore, the growth in automotive production is supporting anticorrosion coating market growth.

3. Growing demand for durable and wear-resistant metals increasing the demand of anticorrosion coating market.

4. Fluctuations in crude oil prices impact the cost of raw materials such as acrylic, epoxies, polyurethanes, and alkyds which are used in the production of anti-corrosion coatings. Therefore, the fluctuation in raw materials prices is affecting anticorrosion coatings price which is limiting its market growth.


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B. Coating Additives Market

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