As per Market Research Future Analysis, the Global Anti-Rust Coating Market was valued at USD 29.89 Billion in 2022 and is projected to grow from USD 30.5 Billion in 2023 to USD 43.56 Billion by 2030, with a CAGR of 6.4% during the forecast period. The market is driven by increasing demand across various sectors, particularly marine, automotive, and construction. The epoxy segment leads the market due to its high demand in maritime and infrastructure applications. Technological advancements in coating types, including solvent-borne and waterborne technologies, are also contributing to market growth. However, challenges such as fluctuating raw material prices and stringent environmental regulations may hinder progress.
Key trends influencing the Anti-Rust Coating Market include technological advancements and sector-specific demands.
Key players include Akzo Nobel N.V., PPG Industries, Inc., Axalta Coating Systems Ltd., BASF SE, and The Sherwin-Williams Company.
The 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 a 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 market growth during the review period.
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Additionally, The increasing use of the 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 prices and stringent environmental regulations may hamper the market growth over the review period.
The Anti-Rust Coating market segmentation, based on type, includes Acrylic, Epoxy, Zinc, Polyurethane, and Others. Because of the increasing demand for epoxy coatings from the maritime, oil & gas, and infrastructure industries, the epoxy segment accounted for the largest market.
Based on Technology, the Anti-Rust Coating market segmentation includes Waterborne Anti-Corrosion coating, Solventborne Anti-Corrosion Coating. The rising use of solvent-borne technology to develop anti-corrosion coatings fuels the expansion of the market.
Based on End-user, the Anti-Rust Coating market segmentation includes Automotive & Transportation, Oil and Gas, Marine, Chemical & fertilizers, and Others. The marine type of end-user industry is accounted for a high share extending the market.
Figure 2: Anti-Rust Coating Market, by Technology, 2023 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific is the leading region in 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 the modernization of infrastructure, growing demand from end-use industries coupled with a growing population. China is the largest market in the regional market, in 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 the shipbuilding, marine, infrastructure, and automotive, sectors.
Figure 3: ANTI-RUST COATING MARKET SHAREÂ BY REGION 2023 (%)
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.
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, in 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.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Anti-Rust Coating market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Anti-Rust Coating industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Anti-Rust Coating. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Anti-Rust Coating industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Anti-Rust Coating industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Anti-Rust Coating market players, including Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (U.S.), Axalta Coating Systems Ltd. (U.S.), BASF SE (Germany), and others, are attempting to increase market demand by funding R&D initiatives.
AkzoNobel is a company that manufactures paints and coatings. It offers products such as decorative paints, automotive, specialty, marine, protective, yacht, industrial, and powder coatings. The company operates several brands, such as AkzoNobel, Alabastine, Alba, Apla, Cetol, Coral, Dulux, Flexa, Glitsa, Herbol, and Lesonal.
Also, BASF is a company that provides petrochemicals, intermediates, performance materials, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals. It conducts its operations through six business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions.
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.)
Dow Dupont (U.S.)
Bluechem (Africa)
Chugoku Marine Paints Ltd. (Japan)
Clariant (Switzerland)
Anti-Rust Coating Type Outlook
Acrylic
Epoxy
Zinc
Polyurethane
Others
Anti-Rust Coating Technology Outlook
Waterborne Anti-Corrosion Coatings
Solventborne Anti-Corrosion Coating
Anti-Rust Coating End-user Outlook
Automotive & Transportation
Oil and Gas
Marine
Chemical & Fertilizer
Others
Anti-Rust Coating Regional Outlook
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 29.89 Billion |
| Market Size 2023 | USD 30.5 Billion |
| Market Size 2030 | USD 43.56 Billion |
| Compound Annual Growth Rate (CAGR) | 6.4% (2023-2030) |
| Base Year | 2023 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Coating type, Technology, End-user, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 Dynamics | Growing demand in various sectors such as marine, infrastructure, transportation, aerospace & defense, and others. |
Anti-Rust Coating Market Highlights:
Frequently Asked Questions (FAQ):
The Anti-Rust Coating market size was valued at USD 29.89 Billion in 2022
The market is projected to grow at a CAGR of 6.4% during the forecast period, 2023-2030
Asia Pacific had the largest share of the Anti-Rust Coating market.
The key players in the market 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)
The epoxy categories dominated the market in 2023
The solvent-borne had the largest share in the market for Anti-Rust Coating
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Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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