Asia-Pacific dominates the anticorrosion market with a share of approximately 50% in 2018 and is slated to generate a revenue of $1.54 billion in 2018.
Global Anticorrosion Coatings Market was valued at $2979.99 million in 2017, and is expected to grow at a CAGR of 5.48% to reach $4055.21 million by 2023.
In the Report “Anticorrosion Coatings Market: By Base Material (Epoxy, Alkyd, Acrylic, Urethanes, Vinyl and Others); By Applications (Oil & Gas, Marine, Energy And Power, Construction and Infrastructure, Automotive, Aerospace and Others), By Geography– With Forecast 2018-2023)” published by IndustryARC, the market is influencing the growth, due to the increasing adoption in power generation, automotive & transportation, construction and infrastructure industry.
Asia-Pacific with major share in the Anticorrosion Coatings Market
Asia-Pacific dominates the anticorrosion market with a share of approximately 50% in 2018 and is slated to generate a revenue of $1.54 billion in 2018. The market for APAC is forecast to grow at a CAGR of 7.24% and will reach $2.32 billion by 2023, which is mainly attributed to the growing demand from the construction industry. Europe anticorrosion coatings market is scrutinized with respect to countries including U.K, France, Germany, Russia, Turkey and others. These regions are poised on the basis of its modesty in the automotive and aerospace industry. The total market for anticorrosion protection in Europe was $673.04 million in 2018 and is estimated to grow with a CAGR of 4.03% to reach $842.93 million during the forecast period of 2018-2023.
Selected Base Material Analysis done in the full Report:
The global market for anticorrosion coating by base material was $18.79 billion in 2018 and is anticipated to see a surge during the prediction. The market will grow at a CAGR of 4.74% and to reach $24.40 billion till 2023. The major types of base materials used to protect from contact with water, high humidity, mist, salt and sand and other factors are as such epoxy, alkyd, acrylic and more. Epoxy coating based coating market is set to experience a surge due to the growing advancements in the oil & gas marine industry.
Acrylic resins is a type of material, which do not hold a significant share in the overall anticorrosion coating market, yet they are anticipated to have a high and fast growth rate to a surface and mainly depends on the resin which is used in its formulation.
Another type of material is alkyd based, which is applied to a surface and mainly depends on the resin which is used in its formulation. This type of material possesses properties Vinyl also provides maximum corrosion resistance to most fuels, vapors as well as chemicals. To purchase or browse the table of contents of the report follow the link below:
Excerpts on Market Growth Factors
Suppliers are working in the development of new improved product performance, by reducing the pricing factor coupled with product differentiation. This new entrant in the industry is prone to such fears for competitors and will be seen at a high growth rate.
The increasing oil and gas drilling and exploration activities in the recent past have been the indirect cause of the rising consumption of high performance anti-corrosion coatings. The upsurge of these activities has led to an urgent need for maintenance in the industrial equipment. This has spurred the demand for protective coatings that improve the lifespan of metal surfaces and prevent it from corroding or getting damaged due to weathering and harsh climatic conditions.
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Key players of the Anticorrosion Coatings Market
The key players operating in anticorrosion coatings market are AkzoNobel N.V., BASF SE, Diamond Vogel Paints, PPG Industries, The Sherwin-Williams Company and others. AkzoNobel N.V. is the leading supplier in the anticorrosion coatings market contributing to nearly 18% of the overall revenue. AkzoNobel through its broad range of products and constant product launches and innovation, such as Resicoat and Cromadex are consequently maintaining their hold over the market. PPG Industries Inc. has been successful in catering to industrial and manufacturing needs, but their strong hold in the oil and gas sector is the prime reason they are amongst the leading suppliers. Aqaupon, Speedhide, PITT-TECH, 8340/2320 are some of its products that are utilized across the globe. Companies Citied / Interviewed
1.Kansai Paint Co.,Ltd
3.Axalta Coating Systems, Llc
5.Nippon Paint Holdings Co., Ltd.
6.The Valspar Corporation
A.Antifouling Paints and Coatings Market
B.Abrasion Resistant Coating Market
What can you expect from the report?
The Anticorrosion Coatings Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application(Revenue & Volume)
2. Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
6.6. Top 10 End user Analysis
7.7. Product Benchmarking
8.8. Product Developments
9. 9. Mergers & Acquisition Analysis
10.10. Patent Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country or application based reports in Anticorrosion Coatings Market segment?
Response: Yes, we do have separate reports as mentioned below:
1. Americas Anticorrosion Coatings Market (2018-2023)
2. Asia Pacific Anticorrosion Coatings Market (2018-2023)
3. Europe Anticorrosion Coatings Market (2018-2023)
4. Base Material Type Anticorrosion Coatings Market (2018-2023)
5. Applications Anticorrosion Coatings Market (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interests.
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Source: EIN Presswire