As per the report published by Allied
Market Research, the global anti-corrosion coating industry garnered $22.8 billion in 2019, and is projected to garner $41.2
billion by 2027, witnessing a CAGR of 8.3% from 2020 to 2026. The report
provides a detailed analysis of the top investment pockets, top winning
strategies, drivers & opportunities, market size & estimations,
competitive landscape, and changing market trends.
Increase in awareness about
eco-friendly products, rise in investment across end-user industries, and
superior performance of anti-corrosion powder coatings propel the growth of the
global anti-corrosion coating market. However, limitations of epoxy
anti-corrosion coating and government impede the market growth. On the other
hand, increase in demand for anti-corrosion coating in the marine industry to
improve efficiency and rise in applications of anti-corrosion coating in the
solar and wind energy industry offer lucrative opportunities to the market
players.
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COVID-19
Scenarios:
The global pandemic has caused the complete anti-corrosion coating industry to
a standstill. COVID-19 has damagingly impacted the global anti-corrosion
coating industry, due to pauses of other supporting industries including oil
& gas, marine, and infrastructure companies, as per government
restrictions. On the other hand, the stringent rules and global lockdown have
also urged other stakeholders in coating industries to curtail down
businesses.
The global anti-corrosion coating
market is segmented on the basis of type, technology, end-user industry, and
region. Based on type, the market is further divided into epoxy, polyurethane,
acrylic, alkyd, zinc, chlorinated rubber, and others. The epoxy segment
accounted for around two-fifths of the total share of the global anti-corrosion
coating market in 2019. Whereas, the acrylic segment is expected to portray the
largest CAGR of 9.4% from 2020 to 2027.
Based on technology, the market is
segmented on the basis of solvent-borne, waterborne, powder, and other anti-corrosion
coatings. The solvent-borne segment accounted for the largest market share with
more than three-fifths of the total share in 2019, and is estimated to maintain
its lead position throughout the forecast period. Contrarily, the water-borne
segment is expected to register the fastest CAGR of 9.5% from 2020 to 2027.
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Based on region, Asia-Pacific
accounted for the highest share, holding more than one-third of the total share
in 2019, and is estimated to maintain its dominant share during the forecast
period. Furthermore, the region is also anticipated to manifest the fastest
CAGR of 8.7% from 2020 to 2027. The market also analyses regions including
Europe, North America, and LAMEA.
The key market players analyzed in
the report involves BASF SE, NIPPON PAINT HOLDINGS CO. LTD, PPG Industries
Inc., The Sherwin-Williams Company, AkzoNobel N.V, Hempel Holdings A/S, Kansai
Paints Co. Ltd, The Dow Chemical Company, WackerChemie AG, and 3M.
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