Global Anti-Corrosion Coating Market Size, Share & COVID-19 Impact Analysis, By Type (Epoxy, Acrylic, Alkyd, Zinc, Polyurethane, Chlorinated Rubber, and Other Types), By Technology (Solvent-borne, Waterborne, and Powder Coating), By Region (North America, Europe, APAC, and Others), and Segment Forecasts, 2024 – 2032
  • Published Date: Jan, 2024
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  • Pages: 200
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  • Table of Contents
  • Segmentation
  • Methodology
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Global Anti-Corrosion Coating Market was valued at US $ 22.8 billion in 2023 and is expected to reach US $ 41.2 billion by 2032 growing at a CAGR of 8.3% during the forecast period 2024 – 2032.

The anti-corrosion coatings industry was hit hard by the COVID-19 disease. This was a severe setback with most production hubs shutting down, all because of global lockdowns and strict rules enforced by governments. However, business has been bouncing back ever since 2021 and is set to increase dramatically in the subsequent years.

In the Anti-Corrosion Coatings market, smart coatings are becoming a hot trend. Such coatings are able to sense changes in the environment and respond appropriately, providing highly effective resistance to corrosion.

In recent years, particularly good anti-corrosion properties and high durability make nan-coatings increasingly popular in the Anti-Corrosion Coatings market. These coatings are more resistant to corrosion than traditional coatings.

The major factors are rapidly growing construction and an upswing in the marine industry. Meanwhile, oil and gas activities in Asia-Pacific as well as North America have been expanding. Regulations concerning volatile organic compounds (VOCs) are anticipated to restrict the growth of this market.

In the future, increasing investment in infrastructure and rising applications of water-borne coatings will create outstanding growth opportunities for anti-corrosion coating products. The anti-corrosion coatings markets in the Asia Pacific region are predicted to see growth because of rising investment flows into various end users industries over the forecast period.

The Anti-Corrosion Coating Market Trend Analysis

Volatile output: Rising demand from the oil & gas, marine, automotive and construction industries are fueling rapid growth in the global Anti-Corrosion Coatings market. This stems from the desire to preserve structures & equipment and increase their useful life.

As environmental concerns multiply, increasing numbers of people are demanding eco-friendly Anti-Corrosion Coatings. It has caused the emergence of water-based and bio- based coatings, both now accepted by end users.

Investments in research and development to develop advanced coatings with better anti-corrosion properties are booming within the Anti-Corrosion Coatings market. As a result, new coatings have been invented like self-healing coatings that can repair themselves after being damaged.

Segmentation Analysis of the Anti-Corrosion Coating Market

By Type

With excellent adhesion properties and superior durability, the epoxy type segment accounts for a significant share of global Anti-Corrosion Coatings market. Anti-Corrosion Coatings-- The epoxy type is more resistant to severe environmental conditions, chemicals and moisture. Most widely used in industrial & marine applications. Furthermore, these epoxy coatings are versatile and can be applied to many substrates like metals, concrete or otherwise. As such they're a common choice for end users as well. An expanding market for protective coatings in the oil & gas and chemical processing industries underpins market growth for epoxy type Anti-Corrosion Coatings. Moreover, the increasing volume of global infrastructure and construction projects will drive demand for epoxy type Anti-Corrosion Coatings in future years.

By Technology

The solvent-borne segment of the world market for Anti-Corrosion Coatings is set to witness healthy growth in coming years. Solvent-borne coatings are famous for their toughness, adhesion and resistance to weathering so they can handle the rough business of industrial use. They are also more resistant to cracking and peeling, which increases the life of coatings as well as what they protect. Solvent-borne coatings are particularly common in the marine and industrial fields, where their strength along with flexibility in adapting to different substrates is highly valued. Furthermore, rising demand for Anti-Corrosion Coatings due to strict environmental regulations should also help the solvent-borne segment increase its share of the overall market.

By end use Industry

The global Anti-Corrosion Coatings market is heavily affected by the infrastructure industry. Since corrosion naturally damages many kinds of infrastructure assets, such as bridges tunnels and pipelines, Anti-Corrosion Coatings are vital in protecting them. Moreover, global infrastructure projects are on the rise around growing urbanization and industrialization as well as a need for sustainable formulas. In the next few years, this trend will probably raise demand for Anti-Corrosion Coatings in the infrastructure industry. Further, the world Anti-Corrosion Coatings market is also being buoyed by new high grade coatings of increased longevity with better corrosion resistance. Consequently, enterprises in this segment push hard on R & D expenditure to develop leading-edge Anti-Corrosion Coatings.

Regional Analysis of the Anti-Corrosion Coating Market

Asia Pacific is Expected to Dominate the Market

The Asia Pacific, Anti-Corrosion Coatings market is set to see healthy growth in the coming years. This market has been growing steadily in the region thanks to rapid industrialization and heavy investment into infrastructure development. More specifically, the construction industry has led this market -- these coatings are used to protect steel and other metals from corrosion in severe environments. Increasingly, countries like China, India, Japan and South Korea have become the major sources of market growth with their various manufacturing and construction industries. Moreover, the growing emphasis on sustainability and environmental regulations in particular has spurred development of environmentally friendly Anti-Corrosion Coatings as well.

But the market is facing some difficulties, chief among them being rising costs for raw materials and alternatives that are cheaper. Hence, major market players are working hard to come up with new products and increase their presence in the classrooms through partnerships & collaborations.

The future of the North American Anti-Corrosion Coatings market looks rosy. The market is fueled by a variety of end-use industries, including marine, oil & gas, power and infrastructure. In North America the need for anti-corrosion coatings will be stimulated by maintenance and repair activities related to existing infrastructure, as well as layers of new construction projects. The growing demand for environmentally friendly and sustainable finishes are stimulating market growth. The major players competing in the market are also investing heavily into research and development, as well as working on collaborations to develop environmentally friendly coatings that are efficient yet economical; this should fuel further expansion of the market. In North America the dominant position is held by the United States, where major market players are factors and development of oil & gas as well as marine industries has been rapid.

Top Key Players Covered

  1. Akzo Nobel N.V.
  2. Ashland
  3. Axalta Coating Systems, LLC
  4. BASF SE
  5. Hempel A/S
  6. Jotun
  7. Kansai Paint Co., Ltd.
  8. PPG Industries, Inc.
  9. RPM INTERNATIONAL INC.
  10. The Sherwin-Williams Company

Key Industry Developments in the Anti-Corrosion Coating Market

  • In January 2017, AkzoNobel expanded its powder coatings facility in Chengdu, China. The new site will help the company to meet the growing demand of product and also offer a wide range of powder products to its customers from automotive, construction, furniture, and IT industries.
  • In January 2017, PPG acquired DEUTEK S.A., which is a leading Romanian paint and architectural coatings manufacturer. The acquisition adds the fastest-growing paint brands in Romania, where PPG has only a small presence in architectural coatings.

Report Components Details
Base Year 2022
Forecast Period 2021-2029
Quantitative Units Revenue in US $
Segments Covered By Type: Epoxy, Acrylic, Alkyd, Zinc, Polyurethane, Chlorinated Rubber, Other Types; By Technology: Solvent-borne, Waterborne, Powder Coating; By End-Use Industry: Oil & Gas, Marine, Infrastructure, Industrial, Automotive & Transportation, Power Generation, Other End-User Industries
Countries Covered U.S. and Canada in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the APAC, Others include Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA), Brazil, Argentina, Mexico, and Rest of South America as part of South America
Market Players Covered Akzo Nobel N.V., Ashland, Axalta Coating Systems, LLC, BASF SE, Hempel A/S, Jotun, Kansai Paint Co., Ltd., PPG Industries, Inc., RPM INTERNATIONAL INC., The Sherwin-Williams Company

Table of Contents

  1. Introduction Of Global Anti-Corrosion Coating Market
    1. Overview of the Market
    2. Scope of Report
    3. Assumptions
  2. Executive Summary
  3. Research Methodology
    1. Data Mining
    2. Validation
    3. Primary Interviews
    4. List of Data Sources
  4. Global Anti-Corrosion Coating Market Outlook
    1. Overview
    2. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
    3. Porters Five Force Model
      1. Bargaining Power of Suppliers
      2. Threat of New Entrants
      3. Threat of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power among Buyers
    4. Value Chain Analysis
  5. Global Anti-Corrosion Coating Market, By Technology
    1. Overview
    2. Solvent-borne
    3. Waterborne
    4. Powder Coating
  6. Global Anti-Corrosion Coating Market, By Type
    1. Overview
    2. Epoxy
    3. Acrylic
    4. Alkyd
    5. Zinc
    6. Polyurethane
    7. Chlorinated Rubber
    8. Other Types
  7. Global Anti-Corrosion Coating Market, By End Use Industry
    1. Overview
    2. Oil & Gas
    3. Marine
    4. Infrastructure
    5. Industrial
    6. Automotive & Transportation
    7. Power Generation
    8. Other End-User Industries
  8. Global Anti-Corrosion Coating Market, By Region
    1. North America
      1. U.S.
      2. Canada
    2. Europe
      1. Germany
      2. U.K.
      3. France
      4. Rest of Europe
    3. Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Singapore
      6. Malaysia
      7. Australia
      8. Thailand
      9. Indonesia
      10. Philippines
      11. Rest of Asia Pacific
    4. Others
      1. Saudi Arabia
      2. U.A.E.
      3. South Africa
      4. Egypt
      5. Israel
      6. Rest of Middle East and Africa (MEA)
      7. Brazil
      8. Argentina
      9. Mexico
      10. Rest of South America
  9. Company Profiles
    1. Akzo Nobel N.V.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    2. Ashland
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    3. Axalta Coating Systems, LLC
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    4. BASF SE
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    5. Hempel A/S
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    6. Jotun
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    7. Kansai Paint Co., Ltd.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    8. PPG Industries, Inc.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    9. RPM INTERNATIONAL INC.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
    10. The Sherwin-Williams Company
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News

Global Anti-Corrosion Coating Market Segmentation

Anti-Corrosion Coating by Type: Market Size & Forecast 2024-2032

  • Epoxy
  • Acrylic
  • Alkyd
  • Zinc
  • Polyurethane
  • Chlorinated Rubber
  • Other Types

Anti-Corrosion Coating by Technology: Market Size & Forecast 2024-2032

  • Solvent-borne
  • Waterborne
  • Powder Coating

Anti-Corrosion Coating by End-Use Industry: Market Size & Forecast 2024-2032

  • Oil & Gas
  • Marine
  • Infrastructure
  • Industrial
  • Automotive & Transportation
  • Power Generation
  • Other End-User Industries

Anti-Corrosion Coating by Geography: Market Size & Forecast 2024-2032

  • North America (USA, Canada, Mexico)
  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
  • South America (Brazil, Argentina, Columbia, Rest of South America)
  • Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

  • Akzo Nobel N.V.
  • Ashland
  • Axalta Coating Systems, LLC
  • BASF SE
  • Hempel A/S
  • Jotun
  • Kansai Paint Co., Ltd.
  • PPG Industries, Inc.
  • RPM INTERNATIONAL INC.
  • The Sherwin-Williams Company

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