Anti Corrosion Coatings Market Size, Share, Growth Analysis, By Product(Epoxy, Polyurethane, Acrylic, Alkyd), By Method(Solvent-based, Water-based, Powder), By End-User(Oil & Gas, Shipbuilding, Infrastructure, Industrial markets), By Region - Industry Forecast 2024-2031

Anti Corrosion Coatings Market size was valued at USD 30.91 billion in 2019 and is poised to grow from USD 32.56 billion in 2023 to USD 49.69 billion by 2031, growing at a CAGR of 5.21% in the forecast period (2024-2031).

The Anti Corrosion Coatings market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. 'AkzoNobel N.V.', 'PPG Industries, Inc.', 'The Sherwin-Williams Company', 'Jotun A/S', 'Hempel A/S', 'Kansai Paint Co., Ltd.', 'BASF SE', 'RPM International Inc.', 'Axalta Coating Systems LLC', 'Nippon Paint Holdings Co., Ltd.', 'Chugoku Marine Paints, Ltd.', '3M Company', 'Carboline Company', 'AICA Kogyo Co., Ltd.', 'Wacker Chemie AG', 'KCC Corporation', 'Teknos Group Oy', 'Valspar Corporation', 'Tnemec Company, Inc.', 'Arkema S.A.'

These coatings shield the surface against corrosion, impact, and abrasion. The Asia-Pacific marine coatings market is driven by high demand for marine coatings, particularly as China emerges as a significant participant in the shipbuilding sector. Energy will see maximum earnings in the next years. Furthermore, as the population has grown, so has the need for power.

The infrastructure category has the biggest market share and is expected to be the fastest-growing segment.

In 2019, Asia Pacific led the market, accounting for more than 36% of worldwide sales. This large percentage might be attributed to increased demand for Electric Vehicles (EVs) in nations like China, India, and Japan. Over the projected period, the expansion of the construction sector in emerging nations such as Brazil, China, India, and Mexico is likely to increase product demand for components such as insulation, fixtures, structural lumber, windows, fences, and others. Demand for anti-corrosion coatings in the building & construction market may be ascribed to growing foreign investment in these nations' construction industries as a consequence of an increase in the number of redevelopment projects of public and industrial infrastructure. In terms of revenue, Europe comes next. The rise of the primary application areas, such as oil and gas and marine applications, is driving the regional market.

Anti Corrosion Coatings Market size was valued at USD 30.91 billion in 2021 and is poised to grow from USD 32.56 billion in 2022 to USD 49.69 billion by 2030, growing at a CAGR of 5.21% in the forecast period (2023-2030).

The Anti Corrosion Coatings market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. 'AkzoNobel N.V.', 'PPG Industries, Inc.', 'The Sherwin-Williams Company', 'Jotun A/S', 'Hempel A/S', 'Kansai Paint Co., Ltd.', 'BASF SE', 'RPM International Inc.', 'Axalta Coating Systems LLC', 'Nippon Paint Holdings Co., Ltd.', 'Chugoku Marine Paints, Ltd.', '3M Company', 'Carboline Company', 'AICA Kogyo Co., Ltd.', 'Wacker Chemie AG', 'KCC Corporation', 'Teknos Group Oy', 'Valspar Corporation', 'Tnemec Company, Inc.', 'Arkema S.A.', 'PPG stated in April 2022 that it would mark 300 years of business in the Netherlands, as well as the anniversary of the SIGMA COATINGS trademark, one of Europe's most well-known architectural coatings brands.', 'In April 2022, PPG announced the completion of its acquisition of Arsonsisi, a powder coatings manufacturing subsidiary based in Milan, Italy.', 'Ashland will launch a new water-based pressure-sensitive adhesive (PSA) technology in February 2022 that is fully compatible with ISO 10993 direct skin contact applications.'

These coatings shield the surface against corrosion, impact, and abrasion. The Asia-Pacific marine coatings market is driven by high demand for marine coatings, particularly as China emerges as a significant participant in the shipbuilding sector. Energy will see maximum earnings in the next years. Furthermore, as the population has grown, so has the need for power.

The infrastructure category has the biggest market share and is expected to be the fastest-growing segment.

In 2019, Asia Pacific led the market, accounting for more than 36% of worldwide sales. This large percentage might be attributed to increased demand for Electric Vehicles (EVs) in nations like China, India, and Japan. Over the projected period, the expansion of the construction sector in emerging nations such as Brazil, China, India, and Mexico is likely to increase product demand for components such as insulation, fixtures, structural lumber, windows, fences, and others. Demand for anti-corrosion coatings in the building & construction market may be ascribed to growing foreign investment in these nations' construction industries as a consequence of an increase in the number of redevelopment projects of public and industrial infrastructure. In terms of revenue, Europe comes next. The rise of the primary application areas, such as oil and gas and marine applications, is driving the regional market.