Anti-corrosion Coatings Market – Growth, Trends, and Forecast (2019 – 2024)

The Market is Segmented by Resin Type (Epoxy, Polyester, Polyurethane, Vinyl Ester, and Other Resin Types), Technology (Water-borne, Solvent-borne, Powder, and UV-cured), End-user Industry (Oil and Gas, Marine, Power, Infrastructure, Industrial, Aerospace and Defense, Transportation, and Other End-user Industries), and Geography.

Market Snapshot

Anti-Corrosion C
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for anti-corrosion coatings is expected to register a CAGR of more than 5.20%, during the forecast period (2019-2024). Major factors driving the market studied include the expansion of oil and gas activities in Asia-Pacific and North America, modernization of infrastructure, etc.

  • Regulations related to VOCs, rise in prices of raw materials, etc., are expected to hinder the growth of the market studied.
  • Power plants are expected to boost the high-performance, anti-corrosion coatings, acting as an opportunity in the future.

Scope of the Report

The anti-corrosion coatings market report includes:

By Resin Type
Epoxy
Polyester
Polyurethane
Vinyl Ester
Other Resin Types
By Technology
Water-borne
Solvent-borne
Powder
UV-cured
By End-user Industry
Oil and Gas
Marine
Power
Infrastructure
Industrial
Aerospace and Defense
Transportation
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand from the Infrastructure Industry

  • The infrastructure segment accounts for the largest share in the market, and is estimated to be the fastest-growing segment.
  • Rails, bridges, and roads constitute major segments of the infrastructure. With increase in population, expansions in infrastructure have become an inevitable part of socio-economic development.
  • Various small-scale projects are spread across Asia-Pacific and North America.
  • Apart from being the most populous nation in the world, China also has the largest number of railroad passengers
  • Moreover, road projects in Asia-Pacific, North America, etc., are also set to help increase the consumption of anti-corrosion coatings.
  • Furthermore, the Bharathmala project, in India, and the ongoing Belt and Road project, in China, are some of the expansions observed in the market.
  • The aforementioned factors are expected to increase the demand for anti-corrosion coatings, over the forecast period.
Anti-Corrosion C

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Asia-Pacific Region to Dominate the Market

  • The global shipbuilding industry is expected to register a CAGR of 3-5% through the next five years, with Asia-Pacific registering the highest growth.
  • In Asia-Pacific, though China, Japan, and South Korea lead the shipbuilding industry, new shipping hubs are appearing in Vietnam, India, and the Philippines.
  • Australia and New Zealand are both island nations, and the geographical scale of Australia’s coastline and waterways has resulted in a large number of recreational, commercial, and defense vessels.
  • Furthermore, the oil and gas sector occupies a good share of the anti-corrosion coatings market, in terms of revenue.
  • China is the leading importer and exporter of crude oil in the world. Thus, any changes affecting the expansion activities related to the oil and gas sector are likely to have a significant impact on the coatings market in China.
  • Such developments in various end-user industries are expected to drive the anti-corrosion coatings market, during the forecast period.
Anti-Corrosion C

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Competitive Landscape

The anti-corrosion coatings market is consolidated, and the major companies include PPG Industries Inc., AkzoNobel NV, Nippon Paints, RPM International Inc., the Sherwin-Williams Company, etc.

Major Players

  1. PPG Industries Inc
  2. AkzoNobel NV
  3. Nippon Paints
  4. RPM International Inc.
  5. The Sherwin-Williams Company

* Complete list of players covered available in the table of contents below

Anti-Corrosion C

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Offshore Production Activities

      2. 4.1.2 Expansion of Oil and Gas Activities in Asia-Pacific and North America

      3. 4.1.3 Growing Marine Industry in Asia-Pacific

      4. 4.1.4 Modernization of Infrastructure

    2. 4.2 Restraints

      1. 4.2.1 Decline in the Mining Sector across Asia-Pacific and North America

      2. 4.2.2 Regulations Related to VOCs

      3. 4.2.3 Rise in Prices of Raw Materials

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Resin Type

      1. 5.1.1 Epoxy

      2. 5.1.2 Polyester

      3. 5.1.3 Polyurethane

      4. 5.1.4 Vinyl Ester

      5. 5.1.5 Other Resin Types

    2. 5.2 By Technology

      1. 5.2.1 Water-borne

      2. 5.2.2 Solvent-borne

      3. 5.2.3 Powder

      4. 5.2.4 UV-cured

    3. 5.3 By End-user Industry

      1. 5.3.1 Oil and Gas

      2. 5.3.2 Marine

      3. 5.3.3 Power

      4. 5.3.4 Infrastructure

      5. 5.3.5 Industrial

      6. 5.3.6 Aerospace and Defense

      7. 5.3.7 Transportation

      8. 5.3.8 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

        4. 5.4.2.4 Rest of North America

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AkzoNobel NV

      2. 6.4.2 Arkema Group

      3. 6.4.3 BASF SE

      4. 6.4.4 Beckers Group

      5. 6.4.5 H.B. Fuller Company

      6. 6.4.6 HEMPEL AS

      7. 6.4.7 Jotun

      8. 6.4.8 Kansai Paint Co. Ltd

      9. 6.4.9 Nippon Paints

      10. 6.4.10 PPG Industries Inc.

      11. 6.4.11 RPM International Inc.

      12. 6.4.12 Sika AG

      13. 6.4.13 The Sherwin-Williams Company

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Investments in the Infrastructure Industry in the Emerging Economies of Asia-Pacific and South America

    2. 7.2 Power Plants Expected to Provide Growth to High-performance Anti-corrosion Coatings

**Subject to Availability

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