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Anti-corrosion Coatings Market Trends

Report ID: GMI808
Published Date: Jun 2024
Report Format: PDF

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Anti-Corrosion Coatings Market Trends

The development and adoption of nanotechnology and smart coatings to offer enhanced protection and self-healing properties will favor the industry expansion. The increasing focus on sustainability is driving the development of environmentally friendly, low VOC products and corrosion resistant water coatings that comply with environmental regulations. In renewable energy sectors, such as wind and solar, where multiple equipment face harsh environmental conditions, the demand for high-performance coatings will increase.

For instance, in February 2024, Covestro created high-performance waterborne resins for industrial coatings like wood furniture and building products, leading to a transformation in the industry. Rising investments in manufacturing industries, especially in emerging markets, is also increasing the demand for durable coatings.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The market size for anti-corrosion coatings was valued at over USD 24.8 billion and is expected to reach over USD 35.3 billion by the end of 2032, driven by the rising demand from industries, such as oil & gas, marine, automotive, and construction.

The epoxy segment of the anti-corrosion coatings market held a decent share in 2023 and is expected to exceed USD 13.9 billion by 2032, due to its exceptional protective properties and versatility across various applications.

North America market will record more than USD 5 billion by 2032, attributed to the strong industrial base along with the growing need to protect critical infrastructure and industrial equipment from corrosion.

Ashland, Axalta Coating, BASF, Chugoku Marine Paints, Hempel, Jotun, Kansai Paints, Nippon Paints, PPG Industries, and RPM International among others.