The global high-performance anticorrosion coatings market size was valued at USD 14.9 Million in 2021 and is projected to reach USD 21.9 Million by 2028, expanding at a CAGR of 5.70% during the forecast period.
Anticorrosion coatings are widely used to prevent the formation of a corrosive layer on metals and other substances that generally occurs, due to moisture in air, chlorine, salt water, and by other chemicals. Anticorrosion coatings are applied on the metal and other surface area to make them strong in terms of durability and strength, and to avoid rusting due to environmental conditions. Coatings such as paint, binders, resins, anti-corrosive pigments, and solvents are called as high-performance anticorrosion coatings. Anticorrosion coatings are mostly used in coatings of oil tanks, water tanks, pipes, and in marine machineries. Anticorrosion coatings are highly used in industries such as water resources, oil & gas, and marine.
The report on the global high-performance anticorrosion coatings market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
High-Performance Anticorrosion Coatings Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018 & 2019 |
Forecast Period |
2021–2028 |
Segmentation |
Types (Solvent-based Coatings, Water-Based Paint Coatings, and Powder Coatings), Categories (Urethane Coatings, Epoxy Coatings, Alkyd Coatings, Acrylic Coatings, and Latex Coatings), Applications (Oil & Gas, Marine Construction, Tanks and Pipes, Power Generation, Paper & Pulp, and Others) |
Regional Scope |
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa |
Report Coverage |
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
Key Players Covered in the Report |
Akzo Nobel N.V., The 3M Company, Chugoku Marine Paints, Ltd., Nippon Paint Co., Ltd., Hempel A/S, Jotun A/S, PPG Industries Inc., and The Sherwin-Williams Company |
Based on types, the high-performance anticorrosion coatings market is segmented into solvent-based coatings, water-based paint coatings, and powder coatings. The solvent-based coatings segment is projected to hold a major market share. Solvent-based coatings are chemicals that are used to prevent corrosion on the surface area of materials. These chemicals have a thin layer that protects the material surface and increases its durability. Solvent-based coatings are highly adopted by industries such as oil & gas, marine construction, pulp & paper, and power generation to impart high durability to machines and equipment.
On the basis of categories, the high-performance anticorrosion coatings market is segmented into urethane coatings, epoxy coatings, alkyd coatings, acrylic coatings, and latex coatings. The acrylic coatings segment held a substantial market share in 2020. Acrylic coatings are high in performance and prevents rusting of material. Acrylic coatings are high in quality and have more physical properties than any other coatings. Acrylic coatings allow metal material to maintain its colour for a long time, as these coatings are chemically active in nature.
In terms of applications, the high-performance anticorrosion coatings market is segmented into oil & gas, marine construction, tanks and pipes, power generation, paper & pulp, and others. The oil & gas segment held a substantial market share in 2020. The oil & gas industry deals with heavy work and equipment such as oil drilling work machines and equipments, process vessels, pipes, and offshore installation machine. High-performance anticorrosion coatings are used to avoid corrosion and rusting of equipment and increase the life and durability.
Based on regions, the global high-performance anticorrosion coatings market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is anticipated to dominate the global high performance anti-corrosion coatings market during the forecast period, owing to high growth in nuclear power, thermal, wind, solar, and hydroelectric sectors. Extensive developments in energy-efficient smart grids and transmission systems in North America is expected to drive the market in the region.
Segments Covered in the Report:
By Types
By Categories
By Applications
By Regions
By Key Players
Key players in the global high-performance anticorrosion coatings market include Akzo Nobel N.V., The 3M Company, Chugoku Marine Paints, Ltd., Nippon Paint Co., Ltd., Hempel A/S, Jotun A/S, PPG Industries Inc., and The Sherwin-Williams Company. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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