Oil & gas industry to lead the corrosion protection coatings market

The global Corrosion Protection Coatings Market size is projected to grow from USD 6.9 billion in 2020 to USD 8.9 billion by 2025, at a CAGR of 5.3%.Worldwide, corrosion causes huge financial losses in many industries.Browse 111 market data Tables and 66 Figures spread through 236 Pages and in-depth TOC on "Corrosion Protection Coating Market by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, Chlorinated Rubber), Technology (Solvent, Water, Powder), End-Use Industry (Marine, Oil & Gas, Petrochemical, Infrastructure),And Region – Global Forecast to 2025"The epoxy based corrosion protection coatings to lead the market, by type, during the forecast period.Epoxy is estimated to lead the market during the forecast period.

It is widely used in corrosion protection coating because of its excellent adhesion, corrosion protection, and chemical resistance properties.

The properties of epoxy-based coatings can be enhanced by the suitable addition of additives and modifiers to meet the required specifications.

These properties make them ideal for use in metallic surfaces such as cast iron and aluminium.Shipbuilding and maintenance & repair in the marine sector are the major applications of epoxy corrosion protection coating.

PPG also delivers protective coating solutions for a wide range of industries.

The company has advanced coating systems that have proven protection from corrosion, high temperatures, and fire; ensures durability and aesthetic performance that will protect valuable assets and meets the specific needs of any environment.In February 2020, PPG collaborated with Dow on Sustainable Future Program to reduce carbon impacts.

The total market for anticorrosion protection in Europe was $673.04 million in 2018 and is estimated to grow with a CAGR of 4.03% to reach $842.93 million during the forecast period of 2018-2023.Research activities are beingcarried out to innovate and are responsible to drive the anti-corrosion protection market.Selected Base Material Analysis done in the full Report:The global market for anticorrosion coating by base material was $18.79 billion in 2018 and is anticipated to see a surge during the prediction.The market will grow at a CAGR of 4.74% and to reach $24.40 billion till 2023.

Thistype of material possesses properties likehardness, flexibility, abrasion resistance, alkali and adhesion resistance.

The material used in services has shown abetter functionality, thus playinga very important role in the coating formulation.

The upsurge of these activities has led to an urgent need for maintenance inthe industrialequipment.This has spurred the demand for protective coatings that improve the lifespan of metal surfaces and prevent it from corroding or getting damaged due to weathering and harsh climatic conditions.• Recent developments in raw materials for these coatings might automate the product differentiation process, which going further will act as a serious threat for the current providers.

Aqaupon, Speedhide, PITT-TECH, 8340/2320 are some of its products thatare utilized across the globe.

Nippon Paint Holdings Co., Ltd. 6.

Anti-corrosion coating is defined as a coating material in liquid or solid which when spread on a surface adheres and hardens forms a film that protect the surface form corrosion.

Global Anti-Corrosion Coating key players include Sherwin-Williams, PPG, Henkel, AkzoNobel, RPM International, etc.

Global top five manufacturers hold a share over 40%.

China is the largest market, with a share about 35%, followed by Europe, and North America, both have a share about 35 percent.

In terms of product, Solvent-Based Coating is the largest segment, with a share about 70%.

And in terms of application, the largest application is Chemical Industrial, followed by Marine, Offshore Constructions, Containers, etc.Market Analysis and Insights: Global Anti-Corrosion Coating Market In 2020, the global Anti-Corrosion Coating market size was US$ 83650 million and it is expected to reach US$ 115400 million by the end of 2027, with a CAGR of 4.7% during 2021-2027.