The global Anti-Corrosion Coatings Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers.
Global Anti-Corrosion Coatings Market Escalating industrialization and urbanization across the globe is also one of the key factors propelling anti-corrosion coatings industry share. As per the report by Global Market Insights, Inc., “Anti-corrosion coatings market will record an annual growth rate of 5% over the period of 2016 to 2025.”
will collect a remarkable revenue over the years ahead, owing to the increasing usage of the product to enhance the external appearance of industrial equipment. The product finds prominent applications across the marine sector to increase the durability of various parts of the vessels.
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1. Anti-Corrosion Coatings Market size & share forecast by product & application 2016-2025
2. Growth drivers, pitfalls & industry challenges
3. Key Anti-Corrosion Coatings Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
The differentiating factor of Anti-Corrosion Coatings Market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook.
Based on the end-use trends, anti-corrosion coatings market is primarily divided into shipbuilding, energy, industrial markets, transport, infrastructure, and oil & gas. Energy end-use segment will register the highest annual growth rate of more than 5% over the coming years of 2016 to 2025, primarily driven by the extensive use of the product to reduce the maintenance cost along with the need to enhance the life cycle of the equipment. Increasing infrastructure development across various residential and commercial sectors will propel anti-corrosion coatings market from the infrastructural sector.
Powder, water-based, and solvent-based are the applications of anti-corrosion coatings industry. Water-based application segment will collect significant revenue over the coming timeframe. The growth can be attributed to the deployment of supportive governmental rules and regulations. Solvent-based product dominated the application segment of anti-corrosion coatings market in 2015.
Chlorinated rubber, acrylic, polyurethane, zinc, alkyd, and epoxy are the various kinds of anti-corrosion coatings. Polyurethane product segment generated a revenue of more than USD 3 billion in 2015 and will grow substantially over the coming eight years. Polyurethane based coating provides glossy appearance, which will stimulate the product demand significantly.
Due to the excellent abrasion and corrosion resistance capability of epoxy based products, they are used in applications that have an alkali-based and acidic environment. Epoxy product segment will register a CAGR of more than 4.5% over the period of 2016 to 2025.
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Asia Pacific is projected to witness substantial gains over 5% over the forecast timeframe. Southeast Asian countries including the Philippines, Indonesia, Thailand, Singapore, Hong Kong, South Korea, Japan, and China were major hubs for ship maintenance and repair in 2015. Lower labor costs, easy availability of viable anti-corrosion solutions, and high shipping traffic in the region have boosted Asia Pacific maritime contribution to the anti-corrosion coatings market.
North America, mainly led by the U.S. anti-corrosion coatings market size was valued at over USD 1.5 billion in 2015. The regional growth was mainly driven by increasing government military investment (Navy). The U.S. has one of the largest fleet base globally owing to boost industry growth by 2025 Growing oil & gas sector in the region will further complement growth.
Global anti-corrosion coatings market share is competitive. Major industry participants include Akzonobel, Ashland, Axalta Coating, BASF, Hempel, Jotun, RPM International, Kansai Paints, PPG Industries and The Sherwin-Williams Company. Other prominent industry share contributors are Chugoku Marine Paints, Nippon Paints, Tnemec, Sokema, AICA Kogyo, AnCatt and Valspar.
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