The Business Research Company’s report on the Corrosion Protection Coating Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the corrosion protection coating market in recent years?
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, in March 2023, according to the US Energy Information Administration, a US-based federal statistical system for gathering, processing, and disseminating energy data, there is an increase in U.S. crude oil output to 12.4 million b/d in 2023 from the record high of 11.7 million b/d in 2022. Furthermore, in September 2022, the US consumed an average of 86.6 billion cubic feet of natural gas per day (Bcf/d), the highest annual consumption of natural gas in the U.S. as compared to the previous year. Therefore, the growing demand for oil and gas will drive the market for corrosion protection coatings.
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What is the projected market size of the corrosion protection coating industry, and how is it expected to grow?
The corrosion protection coating market size has grown strongly in recent years. It will grow from $17.82 billion in 2024 to $18.93 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. 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 $24.98 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. 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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Who are the key players driving competition in the corrosion protection coating market?
Major companies operating in the corrosion protection coating market 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
What key trends are expected to drive the corn wet-milling market during the forecast period?
Technological innovations have emerged as a key trend gaining popularity in the corrosion protection coating market. Major companies operating in corrosion protection coatings are focused on providing innovative corrosion coating products to strengthen their market position. For instance, in June 2022, Hempel, a Denmark-based coating solution company, introduced a new fast-drying CUI coating, Hempaprime CUI 275. Hempaprime CUI 275 is a fast-drying, alkylamine-cured epoxy paint that increases productivity and improves corrosion protection at energy generation and oil and gas facilities by having extremely short overcoating intervals and broad temperature resistance.
Which key geographies are driving the growth of the corrosion protection coating market?
Asia-Pacific was the largest region in the corrosion protection coating market in 2024. 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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What are the key segments driving growth in the corrosion protection coating market?
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
Subsegments:
1) By Epoxy: High-Performance Epoxy, Water-Based Epoxy, Solvent-Based Epoxy
2) By Polyurethane: Aliphatic Polyurethane, Aromatic Polyurethane, Water-Based Polyurethane
3) By Zinc: Zinc-Rich Primers, Zinc Dust Coatings
4) By Alkyd: Oil-Based Alkyd, Water-Based Alkyd
5) By Acrylic: Water-Based Acrylic, Solvent-Based Acrylic
6) By Chlorinated Rubber: High-Temperature Chlorinated Rubber, General Purpose Chlorinated Rubber
7) By Other Types: Silicate Coatings, Phenolic Coatings, Bituminous Coatings
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How is the corrosion protection coating market defined?
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.
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