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. They are hard and offer resistance to humidity, abrasion, water, acid, alkali, and seawater. They possess low volatility and are water cleanable. 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. Infrastructure, oil & gas, and petrochemical are the other significant end-use industries of epoxy corrosion protection coatings. Fusion bonded epoxy powder coatings are used for corrosion protection in steel pipes and fittings in the oil & gas industry and water transmission lines.
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PPG Industries is the second most active company in the corrosion protection coatings market. The company manufactures and distributes industrial and automotive coatings to manufacturing companies, adhesives & sealants to the automotive industry, metal pre-treatments & related chemicals for industrial and automotive applications, and packaging coatings to aerosol, food, and beverage container manufacturers. 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 partnership focuses on advances in anti-corrosion coating products for steel designed to deliver reduced greenhouse gas (GHG) emissions through increased energy efficiency while helping to lessen the high maintenance costs of steel infrastructure.
Major players operating in the corrosion protection coatings market include Akzo Nobel N.V. (Netherlands), PPG Industries, Inc., (US), Jotun A/S (Norway), The Sherwin-Williams Company (US), Kansai Paint Co., Ltd (Japan), Hempel A/S (Denmark), Chugoku Marine Paints (Japan), Axalta Coating Systems (US), Nippon Paint Co., Ltd. (Japan) and Teknos (Finland).
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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 corrosion protection coatings market in APAC is expected to register the highest CAGR during the forecast period.The market for corrosion protection coatings in APAC is projected to register high growth, and the trend is projected to continue during the forecast period.
This is mainly attributed to economic development, followed by heavy investment across industries such as petrochemical, oil & gas, infrastructure, power generation, and industrial.
Additionally, global manufacturers are shifting their production facilities to APAC to take advantage of the low labor cost and cater to the demand in the local market.Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=150815310Oil & gas industry to lead the corrosion protection coatings market during the forecast periodCorrosion protection coatings are widely used in end-use industries such as marine, oil & gas, petrochemical, infrastructure, power generation, and water treatment.
Hence, the rapid growth of these industries is expected to contribute to the growth of the corrosion protection coatings market.
The development of oil fields in the South China Sea and investments in oil & gas infrastructure in China, Japan, Indonesia, India, and other countries are projected to increase the demand for corrosion protection coatings.
The rapidly growing biofuel industry is also expected to add value to the demand for a large number of corrosion protection coatings products, which would drive the market.
Corrosion Protection Coatings Market is anticipated to grow at a CAGR of 5.7% during the forecast period from 2020 to 2028.
A corrosion protection coating is a covering applied to the surface of a material to stop corrosion.
"This Global Corrosion Protection Coatings Market report provides a thorough assessment of the industry and future prospects by : By Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, and Chlorinated Rubber), By Technology (Solvent, Water, and Powder), By End-Use Industry (Oil and Gas, Marine, Infrastructure, Petrochemical, Power Generation, and Others (Aerospace and Defense, Primary Metal and Mining Operations, and Others), import, key countries, export, and market dynamics.
Global Corrosion Protection Coatings Market report comprises growth drivers, market size, market opportunities, forecast, investment risks, and, emerging trends in numerous segments in the Global Corrosion Protection Coatings Market.
It offers a broad understanding of the Global Corrosion Protection Coatings Market subtleties in terms of both returns and capacity.Get More Information About This Report: https://www.quincemarketinsights.com/industry-analysis/corrosion-protection-coatings-marketCompanies Covered: Akzo Nobel N.V., PPG Industries, Inc., Jotun A/S, The Sherwin-Williams Company, Kansai Paint Co. Ltd., Hempel A/S, Chugoku Marine Paints, Axalta Coatings Systems, Nippon Paint Co., Ltd., Teknos, Advanced Nanotech labs, Ancatt Inc., The Magni Group, Inc., Secoa Metal Finishing LLCThe report also offers a complete outline of the market, along with SWOT analysis and tactics of each company in the Global Corrosion Protection Coatings Market, to offer understanding about the industry strengths and how these can be thoroughly studied to generate future growth prospects.Significant application areas of the Global Corrosion Protection Coatings Market are also valued on the basis of their performance.
Market forecasts along with numerical figures and analysis offered in the report render an assessment of the Global Corrosion Protection Coatings Market.
