Corrosion Protection Coating Market by Cover Page

Corrosion Protection Coating Market by Technology (Powder-based, Solvent-based, Water-based, and Others), Resin Types (Chlorinated Rubber, Acrylic, Alkyd, Zinc, Polyurethane, Epoxy, and Others), End-users (Water Treatment, Power Generation, Infrastructure, Petrochemical, Oil & Gas, Marine, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

  • Report ID: MC-4541
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 198
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The corrosion protection coating market size was valued at USD 10 billion in 2021 and is projected to reach USD 12.5 billion by 2030, expanding at a CAGR of around 5% during the forecast period, 2022 – 2030. The growth of the market is attributed to the increasing demand from industries such as automotive, manufacturing, and oil & gas.


Corrosion Protection Coating Market by Summary

The purpose of a protective coating is to prevent or inhibit corrosion by adding a layer of substance to the surface of another material. A shielding layer could be non-metallic or metallic. In addition to preventing corrosion, protective coatings can be applied utilizing a variety of techniques. Polyurethanes, epoxies, and polymers are frequently used substances in non-metallic protective coatings. Zinc, aluminium, and chromium are among the materials used to make metallic protective coatings.

A large portion of the industrial coatings market is made up of corrosion protective coatings owing to its advantages. They consist of increased dimensional stability, improved toughness, chemicals & heat resistance, abrasion, and UV light. The improved adherence of these materials to steel structures at high temperatures, combined with superior weathering resistance to chemical spills and mild industrial atmosphere, is projected to increase demand.

The value chain for corrosion protection coatings is made up of raw material suppliers, producers, distributors, and end-use industries. In order to create corrosion protection, different resin components are combined with hardeners, adding value to the basic coating.

Market Trends, Drivers, Restraints, and Opportunities

  • Additional advantages of epoxy-based coatings, such as increased toughness and durability are projected to drive the market in the coming years.
  • Regional governments in developed economies like the U.S. and Europe are focusing more on reducing the VOC content of epoxy-based products, which is anticipated to fuel the market.
  • Increasing use of substitutes in the market is expected to hinder the market growth.
  • Strict environment laws to reduce VOC emission from coatings act a major factor that can hamper the market growth.
  • R&D investment and technological advancement is anticipated to create immense growth opportunities for the market players during the forecast period.

Scope of the Report

The report on the global corrosion protection coating market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Corrosion Protection Coating Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2022 – 2030

Segmentation

Technology (Powder-based, Solvent-based, Water-based, and Others), Resin Types (Chlorinated Rubber, Acrylic, Alkyd, Zinc, Polyurethane, Epoxy, and Others), End-users (Water Treatment, Power Generation, Infrastructure, Petrochemical, Oil & Gas, Marine, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

The Sherwin-Williams Company; Teknos; PPG Industries; Nippon Paint Holdings Co., Ltd.; Kansai Paint Co., Ltd.; Jotun Group, Inc.; Hempel Group; Chugoku Marine Paints; Axalta Coating Systems; and AkzoNobel N. V

Market Segment Insights

The water-based segment is projected to grow at a rapid pace during the forecast period

Based on technology, the market is segregated into powder-based, solvent-based, water-based, and others. The water-based segment is projected to grow at a rapid pace during the forecast period owing to increasing demand from the infrastructure and industrial sectors. Water serves as the main solvent in the water-based corrosion prevention coatings technology. With this method, there is no need for a solvent because the coating contains up to 80% water. Being less VOC-emitting, it is environmentally safe. However, more advancements in this technology are required to reduce production costs and improve the quality of water-based coatings relative to solvent-based coatings.


Corrosion Protection Coating Market by Technology

The epoxy segment held a major market share in 2021

On the basis of resin types, the market is fragmented into chlorinated rubber, acrylic, alkyd, zinc, polyurethane, epoxy, and others. The epoxy segment held a major market share in 2021. Epoxy has a higher demand because of its numerous uses, high corrosion resistance, and water resistance. Epoxies are resistant to the majority of pollutants and provide excellent coatings for corrosion prevention.

The oil & gas segment is expected to account for a major market share

In terms of end-users, the market is divided into water treatment, power generation, infrastructure, petrochemical, oil & gas, marine, and others. The oil & gas segment is expected to account for a major market share. Growth of the segment is attributed to the extensive usage of corrosion protective coatings. The demand for corrosion protection coating is expected to rise as a result of developments in oil & gas infrastructure in India, Indonesia, Japan, and China as well as the expansion of oil reserves in the South China Sea.

Asia Pacific dominated the market in 2021

On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominated the market in 2021. Growth of the market in the region is attributed to expanding Petrochemical, infrastructural, and power generation industries. The market is also being driven by rapid industrialization and rising living standards in Asia Pacific. Decreasing prices and growing awareness about corrosion protection coatings is estimated to boost the market. China has experienced fast industrialization as a result of changes in industrial policies and the liberalization of foreign trade and investments. The market in Europe is anticipated to expand at a substantial rate during the forecast period due to increased investment by manufacturing enterprises in capacity expansion and development. The demand is anticipated to be fueled by growing R&D efforts in the transportation and automotive industries to enhance metal chemistry and extend the shelf life.


Corrosion Protection Coating Market by Regions

Segments

The global corrosion protection coating market has been segmented on the basis of

Technology
  • Powder-based
  • Solvent-based
  • Water-based
  • Others
Resin Types
  • Chlorinated Rubber
  • Acrylic
  • Alkyd
  • Zinc
  • Polyurethane
  • Epoxy
  • Others
End-users
  • Water Treatment
  • Power Generation
  • Infrastructure
  • Petrochemical
  • Oil & Gas
  • Marine
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • The Sherwin-Williams Company
  • Teknos
  • PPG Industries
  • Nippon Paint Holdings Co., Ltd.
  • Kansai Paint Co., Ltd.
  • Jotun Group, Inc.
  • Hempel Group
  • Chugoku Marine Paints
  • Axalta Coating Systems
  • AkzoNobel N.V

Competitive Landscape

Key players competing in the corrosion protection coating market include The Sherwin-Williams Company; Teknos; PPG Industries; Nippon Paint Holdings Co., Ltd.; Kansai Paint Co., Ltd.; Jotun Group, Inc.; Hempel Group; Chugoku Marine Paints; Axalta Coating Systems; and AkzoNobel N.V. Some of these players are using several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,

  • In June 2021, AkzoNobel announced that it has acquired the paint and coatings company Grupo Orbis in Colombia. The company has created a leading position globally due to the acquisition, which has also helped to fuel expansion in emerging areas.
  • In June 2021, A novel technology created by Das Lack Enertherm (DLE) was acquired by Hempel Group. The company was able to enter the insulation coatings market owing to the acquisition, which also brought new business opportunities.
Corrosion Protection Coating Market by Key Players
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Corrosion Protection Coating Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Corrosion Protection Coating Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Corrosion Protection Coating Market - Supply Chain
  4.5. Global Corrosion Protection Coating Market Forecast
     4.5.1. Corrosion Protection Coating Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Corrosion Protection Coating Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Corrosion Protection Coating Market Absolute $ Opportunity
5. Global Corrosion Protection Coating Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Corrosion Protection Coating Market Size and Volume Forecast by End Users
     5.3.1. Water Treatment
     5.3.2. Power Generation
     5.3.3. Infrastructure
     5.3.4. Petrochemical
     5.3.5. Oil & Gas
     5.3.6. Marine
     5.3.7. Others
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Corrosion Protection Coating Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Corrosion Protection Coating Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Corrosion Protection Coating Demand Share Forecast, 2019-2026
7. North America Corrosion Protection Coating Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Corrosion Protection Coating Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Corrosion Protection Coating Market Size and Volume Forecast by End Users
     7.4.1. Water Treatment
     7.4.2. Power Generation
     7.4.3. Infrastructure
     7.4.4. Petrochemical
     7.4.5. Oil & Gas
     7.4.6. Marine
     7.4.7. Others
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Corrosion Protection Coating Demand Share Forecast, 2019-2026
8. Latin America Corrosion Protection Coating Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Corrosion Protection Coating Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Corrosion Protection Coating Market Size and Volume Forecast by End Users
     8.4.1. Water Treatment
     8.4.2. Power Generation
     8.4.3. Infrastructure
     8.4.4. Petrochemical
     8.4.5. Oil & Gas
     8.4.6. Marine
     8.4.7. Others
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Corrosion Protection Coating Demand Share Forecast, 2019-2026
9. Europe Corrosion Protection Coating Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Corrosion Protection Coating Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Corrosion Protection Coating Market Size and Volume Forecast by End Users
     9.4.1. Water Treatment
     9.4.2. Power Generation
     9.4.3. Infrastructure
     9.4.4. Petrochemical
     9.4.5. Oil & Gas
     9.4.6. Marine
     9.4.7. Others
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Corrosion Protection Coating Demand Share Forecast, 2019-2026
10. Asia Pacific Corrosion Protection Coating Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Corrosion Protection Coating Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Corrosion Protection Coating Market Size and Volume Forecast by End Users
     10.4.1. Water Treatment
     10.4.2. Power Generation
     10.4.3. Infrastructure
     10.4.4. Petrochemical
     10.4.5. Oil & Gas
     10.4.6. Marine
     10.4.7. Others
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Corrosion Protection Coating Demand Share Forecast, 2019-2026
11. Middle East & Africa Corrosion Protection Coating Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Corrosion Protection Coating Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Corrosion Protection Coating Market Size and Volume Forecast by End Users
     11.4.1. Water Treatment
     11.4.2. Power Generation
     11.4.3. Infrastructure
     11.4.4. Petrochemical
     11.4.5. Oil & Gas
     11.4.6. Marine
     11.4.7. Others
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Corrosion Protection Coating Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Corrosion Protection Coating Market: Market Share Analysis
  12.2. Corrosion Protection Coating Distributors and Customers
  12.3. Corrosion Protection Coating Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. The Sherwin-Williams Company
     12.4.2. Teknos
     12.4.3. PPG Industries
     12.4.4. Nippon Paint Holdings Co., Ltd.
     12.4.5. Kansai Paint Co., Ltd.
     12.4.6. Jotun Group, Inc.
     12.4.7. Hempel Group
     12.4.8. Chugoku Marine Paints

The global corrosion protection coating market has been segmented on the basis of

Technology
  • Powder-based
  • Solvent-based
  • Water-based
  • Others
Resin Types
  • Chlorinated Rubber
  • Acrylic
  • Alkyd
  • Zinc
  • Polyurethane
  • Epoxy
  • Others
End-users
  • Water Treatment
  • Power Generation
  • Infrastructure
  • Petrochemical
  • Oil & Gas
  • Marine
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • The Sherwin-Williams Company
  • Teknos
  • PPG Industries
  • Nippon Paint Holdings Co., Ltd.
  • Kansai Paint Co., Ltd.
  • Jotun Group, Inc.
  • Hempel Group
  • Chugoku Marine Paints
  • Axalta Coating Systems
  • AkzoNobel N.V

Key players competing in the corrosion protection coating market include The Sherwin-Williams Company; Teknos; PPG Industries; Nippon Paint Holdings Co., Ltd.; Kansai Paint Co., Ltd.; Jotun Group, Inc.; Hempel Group; Chugoku Marine Paints; Axalta Coating Systems; and AkzoNobel N.V. Some of these players are using several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,

  • In June 2021, AkzoNobel announced that it has acquired the paint and coatings company Grupo Orbis in Colombia. The company has created a leading position globally due to the acquisition, which has also helped to fuel expansion in emerging areas.
  • In June 2021, A novel technology created by Das Lack Enertherm (DLE) was acquired by Hempel Group. The company was able to enter the insulation coatings market owing to the acquisition, which also brought new business opportunities.
Corrosion Protection Coating Market by Key Players

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FAQ Section

Some frequently asked quetions about this report!

The purpose of a protective coating is to prevent or inhibit corrosion by adding a layer of substance to the surface of another material. A shielding layer could be non-metallic or metallic.

The corrosion protection coating market size was valued at USD 10 billion in 2021 and is projected to reach USD 12.5 billion by 2030.

Asia Pacific dominated the corrosion protection coating market in 2021.

Water Treatment, Power Generation, Infrastructure, Petrochemical, Oil & Gas, Marine, and Others are the end-users in the corrosion protection coating market.

Hempel Group; Chugoku Marine Paints; Axalta Coating Systems; and AkzoNobel N.V are some of the key players in the corrosion protection coating market.