Market Size –
The zinc rich coating market size has grown rapidly in recent years. It will grow from $1.33 billion in 2023 to $1.47 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to the rise of industrialization, infrastructure development, a growing focus on maintenance and repair, advancements in chemical engineering, and early adoption in heavy industries like construction and manufacturing.
The zinc rich coating market size is expected to see rapid growth in the next few years. It will grow to $2.21 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to increasing infrastructure projects, growing industrial maintenance needs, rising demand for corrosion protection, advancements in coating technology, and stricter environmental regulations. Major trends in the forecast period include increased use in sustainable construction, growth in marine and offshore applications, advancements in eco-friendly formulations, rising demand in emerging markets, and enhanced performance characteristics.
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Scope Of Zinc Rich Coating Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Zinc Rich Coating Market Overview
Market Drivers –
The increasing demand for maritime vessels is expected to propel the growth of the zinc-rich coating market going forward. Maritime vessels encompass ships and boats built for navigation on oceans, seas, and other water bodies, serving diverse functions such as cargo transport, passenger travel, and naval operations. The demand for marine vessels has expanded due to global trade and the need for efficient, cost-effective transportation of goods over international waters. The harsh marine environment exposes ships and other structures to seawater, salt spray, and humidity, which accelerate the corrosion of metal surfaces. Zinc-rich coatings protect marine vessels from corrosion and act as a multi-coating system’s primer layer. For instance, in January 2023, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, the global merchant fleet or vessel registrations rose to 105,000 in 2023, marking a 2.4% increase from 103,000 in 2022. Moreover, shipbuilding activities were predominantly driven by China, the Republic of Korea, and Japan, collectively accounting for 93% of the global market share. Therefore, increasing demand for maritime vessels will drive the growth of the zinc-rich coating market.
Market Trends –
Major companies operating in the zinc-rich coating market are focused on developing eco-friendly protective solutions, such as isocyanate-free coatings, to enhance corrosion resistance and extend asset lifespan. Isocyanate-free coatings are innovative protective solutions that improve corrosion resistance while prioritizing safety and environmental compliance by eliminating harmful isocyanates from their formulations. For instance, in April 2023, Tnemec Company, Inc., a US-based architectural and industrial coatings manufacturer, introduced a water-based zinc-rich epoxy primer, Series 90-75 Tneme-Zinc. This primer offers enhanced protection for steel surfaces in various environments and is designed to meet LEED v4.1 Low-Emitting Materials credit requirements. This isocyanate-free primer features an ultra-low VOC formulation that cures quickly and creates an open network polymer structure in the dry film, enhancing conductivity between zinc particles for superior galvanic corrosion protection. Tneme-Zinc complies with AISC Class B surface standards and is available in a reddish-gray color.
The zinc rich coating market covered in this report is segmented –
1) By Type: Organic Zinc Rich Coating, Inorganic Zinc Rich Coating
2) By Application: Medical Instruments, Aerospace Components, Auto Parts, Other Applications
3) By End User: Automotive, Marine, Oil And Gas, Construction, Infrastructure
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Regional Insights –
North America was the largest region in the zinc rich coating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the zinc rich coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the zinc rich coating market are BASF SE, The Sherwin-Williams Company, PPG Industries Inc., Akzo Nobel N.V., Sika AG, Axalta Coating Systems Ltd., Kansai Paint Co. Ltd., Hempel A/S, Jotun Group, Carboline Company, ChemPoint Inc., Pioneer Metal Finishing LLC, KTA-Tator Inc., Grand Polycoats Company, Specialized Coating Systems Pty Ltd., Dulux Protective Coatings, Rainbow Technology Corp, Anochrome Group, Baril Coatings USA, Advance Paints Pvt Ltd., ZRC Worldwide, J Harlen, Rust Bullet Australia, Thomas Howse Ltd., Toa Chugoku Paints Pvt Ltd., Zigma Paints Pvt Ltd
Table of Contents
1. Executive Summary
2. Zinc Rich Coating Market Report Structure
3. Zinc Rich Coating Market Trends And Strategies
4. Zinc Rich Coating Market – Macro Economic Scenario
5. Zinc Rich Coating Market Size And Growth
…..
27. Zinc Rich Coating Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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