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Report Overview

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Global Anti-Corrosion Coating Market Outlook

The global anti-corrosion coating market size reached nearly USD 31.84 billion in 2023. The market is projected to grow at a CAGR of 6.5% between 2024 and 2032 to reach a value of around USD 56.13 billion by 2032.

Global Anti-Corrosion Coating Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 31.84
Market Size 2032 USD Billion 56.13
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 6.5%
CAGR 2024-2032 - Market by Region Asia Pacific 7.2%
CAGR 2024-2032 - Market by Country India 7.3%
CAGR 2024-2032 - Market by Country Saudi Arabia 6.9%
CAGR 2024-2032 - Market by Technology Waterborne 7.1%
CAGR 2024-2032 - Market by End Use Oil and Gas 7.6%
Market Share by Country 2023 Italy 2.3%

Key Trends in the Market

Anti-corrosion coating refers to a type of coating which shields a surface from moisture, salt, and oxidation, among several chemicals. Anti-corrosion coating is usually applied to a metal surface to provide a barrier against corrosive materials.

  • The heightened demand for anti-corrosion coatings, such as polyurethane, in consumer electronics, like power refrigerators, freezers, water heaters, and washing machines, among others, is driving the anti-corrosion coating market growth.
  • Rapid development of automobiles with specialised coatings to improve their performance and prevent the corrosion of metal surfaces is a crucial driver of the market.
  • One of the significant anti-corrosion coating market trends include the rising usage of the product in the production of marine vessels and warships. Moreover, the increasing naval expenditure of sovereign military powers is contributing to the expansion of the market for anti-corrosion coatings.
  • Anti-corrosion coatings are gaining traction in the construction sector to protect steel and other metallic structures from aggressive influences of the surrounding atmosphere. In this regard, the rapid urbanisation across developed and developing economies is further aiding the anti-corrosion coating market demand.

Market Analysis

Based on product type, the market is segmented into epoxy, polyurethane, acrylic, alkyd, zinc, and chlorinated rubber, among others. On the basis of technology, the anti-corrosion coating market segmentations include solvent-borne, waterborne, and powder coatings, among others.

By end use, the market is classified into marine, oil and gas, industrial, construction, energy, and automotive, among others. The major regional markets for anti-corrosion coating include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

CAGR 2024-2032 - Market by Country
India 7.3%
Saudi Arabia 6.9%
China 6.9%
Mexico 6.7%
UK 6.4%
USA 6.1%
Canada XX%
Germany XX%
Italy XX%
Japan XX%
Australia XX%
Brazil XX%
France 6.0%

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global anti-corrosion coating market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

  • BASF SE
  • Axalta Coating Systems LLC
  • PPG Industries, Inc.
  • The Dow Chemical Company
  • Hempel A/S
  • Nippon Paint Holdings Co., Ltd.
  • The Sherwin-Williams Company
  • Akzo Nobel N.V.
  • Wacker Chemie AG
  • 3M Co.
  • Others

Market Share by Product Type

Epoxy coating accounts for a significant portion of the anti-corrosion coating market share. This can be attributed to the durability and high resistance to chemicals offered by epoxy coating. It is also an ideal floor coating material as it provides a smooth finished surface with high aesthetic appeal.

In addition, epoxy coating is easy to clean, eco-friendly, and offers resistance to oil, stains, and water. Over the forecast period, the anticipated increase in the demand for high-gloss surfaces across the commercial and residential sectors is likely to heighten the growth of this segment.

Market Share by End Use

As per the anti-corrosion coating market analysis, the energy sector holds a sizeable share due to the thriving power generation sector across emerging economies amid the global increase in demand for energy. Additionally, anti-corrosion coatings are witnessing a heightened application across solar and wind power plants to enhance their operability and efficiency.

Furthermore, the rising investments towards the development of power plants to meet the growing energy demand from the industrial sector are expected to further generate the demand for anti-corrosion coatings in the forecast period.

Competitive Landscape

BASF SE is a leading chemicals company that manufactures and markets chemicals, plastics, special corrosion protection coatings, and crop protection products, among others. It was founded in 1865 and is headquartered in Ludwigshafen, Germany.

Axalta Coating Systems LLC is a renowned paint and coating manufacturer thar caters to the coating demands of various sectors, including industrial and commercial. It was established in 1866 and is headquartered in Pennsylvania, the United States.

PPG Industries, Inc. is a leading paints and coatings manufacturer which supplies paints, coatings, and speciality materials, among others. The company was founded in 1883 and is headquartered in Pennsylvania, the United States.

Other anti-corrosion coating market players include The Dow Chemical Company, Hempel A/S, Nippon Paint Holdings Co., Ltd., The Sherwin-Williams Company, Akzo Nobel N.V., Wacker Chemie AG, and 3M Co., among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Technology
  • End Use
  • Region
Breakup by Product Type
  • Epoxy
  • Polyurethane
  • Acrylic
  • Alkyd
  • Zinc
  • Chlorinated Rubber
  • Others
Breakup by Technology
  • Solvent-borne
  • Waterborne
  • Powder Coatings
  • Others
Breakup by End Use
  • Marine
  • Oil and Gas
  • Industrial
  • Construction
  • Energy
  • Automotive
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • BASF SE
  • Axalta Coating Systems LLC
  • PPG Industries, Inc.
  • The Dow Chemical Company
  • Hempel A/S
  • Nippon Paint Holdings Co., Ltd.
  • The Sherwin-Williams Company
  • Akzo Nobel N.V.
  • Wacker Chemie AG
  • 3M Co.
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market reached a value of nearly USD 31.84 billion in 2023.

The market is estimated to grow at a CAGR of 6.5% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 56.13 billion by 2032.

The thriving construction sector across developed and developing economies, the rising demand for anti-corrosion coatings from the automotive sector, and the increasing application of the product in power and solar plants are the major drivers of the market.

The key trends in the market include the growing demand for anti-corrosion coatings in the production of marine vessels and warships and the increasing naval expenditure across the sovereign military powers.

Epoxy, polyurethane, acrylic, alkyd, zinc, and chlorinated rubber, among others, are the different product types considered in the market report.

Solvent-borne, waterborne, and powder coatings, among others, are the major segments based on the technology of anti-corrosion coating considered in the market report.

BASF SE, Axalta Coating Systems LLC, PPG Industries, Inc., The Dow Chemical Company, Hempel A/S, Nippon Paint Holdings Co., Ltd., The Sherwin-Williams Company, Akzo Nobel N.V., Wacker Chemie AG, and 3M Co., among others, are the key market players.

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63 Fiona Drive, Tamworth, NSW

+61-448-061-727

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+91-858-608-1494

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+44-753-713-2163

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