ID: MRFR/CnM/4242-HCR | February 2021 | Region: Global | 140 pages
Anti-corrosion coatings are a distinct family of materials that exhibit superior impact resistance, as well as corrosion and abrasion resistance. Water-based, epoxy-based, or powder-based coatings are available. These coatings contribute to the formation of a barrier between metal surfaces, thereby preserving the substrate from corrosion. The increase in corrosion-related losses and the upgrading of infrastructure are likely to drive the anti-corrosion coating market's growth over the forecast period. Additionally, rise in end-use industries is expected to drive the anti-corrosion coating market. Additionally, there is an increasing demand for thin-walled robust metallic components in the fabrication of lightweight items used in a variety of industries, including building and construction, automotive, marine, and oil and gas. On the other hand, fluctuating crude oil prices are expected to restrain the growth of the anti-corrosion coating market over the forecast period.
Additionally, research and development efforts to produce bio-based anti-corrosion coatings will generate additional prospects for the anti-corrosion coating market to grow in the future years. However, the increase in government regulations may provide a significant impediment to the anti-corrosion coating market's growth in the near future.
Some of the prominent manufacturers in the global market of anti-rust coating are Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (U.S.), Axalta Coating Systems Ltd. (U.S.), BASF SE (Germany), The Sherwin-Williams Company (U.S.), Ashland Inc. (U.S.), Kansai Paint Co., Ltd. (Japan), Hempel A/S (Denmark), Nippon Paints Co. Ltd (Japan), Jotun (Norway), RPM International Inc. (U.S.), DowDupont (U.S.), Bluechem (Africa), Chugoku Marine Paints Ltd. (Japan), and Clariant (Switzerland).
Anti-Rust Coating Market is expected to witness healthy growth during the forecast period (2017-2023). Anti-rust coating is a preventive coating used for protecting metal components against degradation due to moisture, humidity, salt spray, and oxidation to a variety of environmental or industrial chemicals. Anti-rust coating inhibits the contact between chemical compounds or corrosive materials.
The global anti-rust coating market is majorly driven by its growing demand in various sectors such as marine, infrastructure, transportation, aerospace & defense, and others. Among these, the marine is the leading segment due to the high demand for anti-rust coating in shipbuilding and boat repairing. Additionally, the increasing demand for residential construction by the growing population is expected to propel the market growth further. The use of anti-rust coating for durable, scratch resistant, and finished appearance in an automobile is another driver of the market. The transportation of oil & gas through pipelines increases the demand for anti-rust coating, which is expected to drive the market growth during the review period. The increasing use of anti-rust coating in above mentioned end-use industries coupled with technological advances is likely to propel the market growth during the assessment period 2017-2023. However, fluctuating raw material price and stringent environmental regulations may hamper the market growth over the review period.
Global Anti-rust Coatings Share by the Technology (%)
The global anti-rust coating market is segmented into five key regions Asia Pacific, Latin America, North America, the Middle East & Africa and Europe.
The Asia Pacific is the leading region in the global anti-rust coating due to the increasing demand from end-use industries such as infrastructure, automotive, and transportation. Developing countries such as China, India, Japan, and Indonesia are expected to fuel the market growth on account of modernization of infrastructure, growing demand from end-use industries coupled with growing population. China is the largest market in the regional market, terms of value due to its rapidly growing building and construction industry in this region. China is followed by India, Japan, Thailand, Vietnam, and others due to the huge demand for the product in shipbuilding, marine, infrastructure, and automotive, sectors.
Latin America is expected to showcase positive growth owing to the increasing industrial activities in the marine and oil & gas industries, especially for on & offshore drilling machinery and the presence of a large number of oil deposits in Brazil and Venezuela.
The U.S. is the major contributor to the anti-rust coating market due to its expanding applications in the automotive industries in the North American region.
The Middle East & Africa is projected to witness a considerable market growth on account of the presence of abundant oil & gas reserves and petrochemical resources during the forecast period.
Europe is expected to experience slow growth owing to the stringent environmental regulations. For instance, under Directive 2004/42/CE of the European Parliament on the limitation of emissions of volatile organic compounds due to the use of organic solvents in certain paints and varnishes and vehicle refinishing products. These regulations are cited as European Union (Paints, Varnishes, Vehicle Refinishing Products and Activities) Regulations 2012. Nevertheless, Eastern Europe wherein Russia is the only driver of the anti-rust coating market due to the growing demand from industrial, decorative, and others applications.
October 2021: Scientists at Rice University in the United States developed a novel alloy with a unique and diverse collection of properties that may prove extremely successful at preventing corrosion in steel. Not only did the new coating prevent corrosion in submerged slabs of ordinary steel, but it also proved to be flexible and capable of self-healing when injured. The new anti-rust coating is composed of a lightweight sulfur-selenium alloy that, according to the material scientists who developed it, combines beneficial properties from existing solutions. This includes the capacity of zinc- and chromium-based coatings to repel moisture and chlorine, the ability of polymer-based coatings to preserve steel under seawater-like circumstances, and the ability to ward against microbe-induced corrosion.
|Market Size||2030 : Significant Value|
|CAGR||2030: Significant Value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Technology, End-use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (U.S.), Axalta Coating Systems Ltd. (U.S.), BASF SE (Germany), The Sherwin-Williams Company (U.S.), Ashland Inc. (U.S.), Kansai Paint Co., Ltd. (Japan), Hempel A/S (Denmark), Nippon Paints Co. Ltd (Japan), Jotun (Norway), RPM International Inc. (U.S.), DowDupont (U.S.), Bluechem (Africa), Chugoku Marine Paints Ltd. (Japan), and Clariant (Switzerland)|
|Key Market Opportunities||Increasing demand for residential construction by the growing population|
|Key Market Drivers||Growing demand in various sectors such as marine, infrastructure, transportation, aerospace & defense, and others|
Frequently Asked Questions (FAQ) :
The Asia Pacific market would lead the charge for the anti-rust coating market.
The marine segment would lead the global anti-rust coating market charge.
Dwindling raw material price and stringent measures to maintain safe environmental standards can hold back the anti-rust coating market from achieving normal growth?
Eminent players like Axalta Coating Systems Ltd. (U.S.), Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), BASF SE (Germany), Hempel A/S (Denmark), Ashland Inc. (U.S.), Kansai Paint Co., Ltd. (Japan), Jotun (Norway), RPM International Inc. (U.S.), Chugoku Marine Paints Ltd. (Japan), Nippon Paints Co. Ltd (Japan), Bluechem (Africa), DowDupont (U.S.), and Clariant (Switzerland) would take the global anti-rust coating market further ahead by implementing strategic changes.
The effective measures would be acquisition, bio-friendly product launch, collaboration, better innovation, merger, brand positioning, a surge in R&D investment, and others. These would help players to lead the market ahead.