Corrosion Protection Coating Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
The corrosion protection coating refers to a solution used to avoid metal degradation due to environmental exposure, degradation, oxidation, and moist air. Corrosion protective coatings add a layer to metal surfaces. These coatings can be produced from materials like zinc or iron and applied using a variety of approaches as a base layer, primer, or topcoat.

Sizing and Forecast
The corrosion protection coating market size has grown strongly in recent years. It will grow from $16.84 billion in 2023 to $17.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to infrastructure development, automotive sector growth, increased focus on sustainable construction, rise in industrial manufacturing, aerospace industry requirements..

The corrosion protection coating market size is expected to see strong growth in the next few years. It will grow to $23.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to demand for eco-friendly coatings, expansion of the energy sector, growing focus on asset longevity, water and wastewater treatment, stringent environmental regulations.. Major trends in the forecast period include shift towards waterborne coatings, advancements in nanotechnology, adoption of smart coatings, demand for uv-curable coatings, shift towards powder coatings, development of anti-corrosion coating technologies..

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Segmentation & Regional Insights
The corrosion protection coating market covered in this report is segmented –

1) By Resin Type: Epoxy, Polyurethane, Zinc, Alkyd, Acrylic, Chlorinated Rubber, Other Types
2) By Technology: Water-based, Solvent-based, Powder-based, Other Technologies
3) By End-Use Industries: Marine, Oil and Gas, Petrochemical, Infrastructure, Power Generation, Water Treatment, Other End-users

Asia-Pacific was the largest region in the corrosion protection coating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the corrosion protection coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing oil and gas industry is expected to propel the corrosion protection coatings market. Economic growth is a significant factor influencing demand for oil and gas products. This rising demand for oil and gas increases demand for corrosion protection coatings that aid in protecting steel structures in the oil and gas and petrochemical industries from corrosion. For instance, according to the U.S. Energy Information Administration, in 2021, the United States’ petroleum consumption averages about 19.78 million barrels per day (b/d), including about a million b/d of biofuels. The total petroleum consumption in the United States was approximately 8% higher in 2021 than in 2020. Therefore, the growing demand for oil and gas will drive the market for corrosion protection coatings.

Key Industry Players
Major companies operating in the corrosion protection coating market report are Jotun A/S, Hempel A/S, RPM International Inc., Akzo Nobel N.V., The Sherwin-Williams Company, BASF SE, Axalta Coating Systems LLC, PPG Industries Inc., 3M Company, Koninklijke DSM N.V., Heubach GmbH, Renner Herrmann S.A., The Magni Group Inc., Wacker Chemie AG, Bluechem Group, Nippon Paint Holdings Co. Ltd., Rust-Oleum Corporation, Krylon Products Group, Valspar Corporation, Henkel AG & Co. KGaA, Sika AG, The Dow Chemical Company, Covestro AG, Berger Paints India Limited, Chugoku Marine Paints Ltd., Hempel (USA) Inc., Carboline Company, International Paint Ltd., Sherwin-Williams Protective & Marine Coatings, Tnemec Company Inc., Ameron International Corporation

The corrosion protection coating market report table of contents includes:

1. Executive Summary

2. Corrosion Protection Coating  Market Characteristics

3. Corrosion Protection Coating  Market Trends And Strategies

4. Corrosion Protection Coating  Market – Macro Economic Scenario

5. Global Corrosion Protection Coating  Market Size and Growth

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31. Global Corrosion Protection Coating  Market Competitive Benchmarking

32. Global Corrosion Protection Coating  Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Corrosion Protection Coating  Market

34. Corrosion Protection Coating  Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Jotun A/S,

Hempel A/S,

RPM International Inc.,

Akzo Nobel N.V.,

The Sherwin-Williams Company,

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