Anticorrosive Coatings Market Size : Industry Insights, Major Key Players and Current Trends Analysis

The global anti-corrosion coating market is projected to reach USD 31.73 billion by 2031, at a CAGR of 5.0% from 2023 to 2031. This growth can be attributed to the rising losses due to corrosion and the increasing demand for anti-corrosion coatings from various end-use industries. However, fluctuating raw material costs and stringent environmental regulations are restraining the growth of the market.

“The epoxy segment is anticipated to be the largest type segment of the global anti-corrosion coating market”
The epoxy segment is expected to be the largest type segment of the global anti-corrosion coating market. Epoxy is the most widely used anti-corrosion coating owing to its increasing applicability across various end-use industries. Moreover, the rising demand for epoxy coatings from the marine and oil & gas industries is also fueling the growth of the epoxy segment.

“The solvent-borne segment is anticipated to be the largest technology segment of the global anti-corrosion coating market during the forecast period”
The solvent-borne segment is expected to be the largest technology segment of the global anti-corrosion coating market. The growth of the solvent-borne technology segment is mainly attributed to the increasing demand for solvent-borne coatings from the automotive, infrastructure, and marine industries.

“The marine segment is anticipated to be the largest end-use industry segment of the global anti-corrosion coating market during the forecast period”
The marine segment is projected to be the largest end-use industry segment of the global anti-corrosion coating market. The increasing use of anti-corrosion coatings in marine and offshore applications is anticipated to drive the growth of the anti-corrosion coating market. Moreover, emerging countries such as India and China are witnessing a high demand for new ships for both, military and commercial purposes, which, in turn, is anticipated to drive the demand for anti-corrosion coatings from the marine industry.

“Asia Pacific is projected to be the fastest-growing market for anti-corrosion coating during the forecast period”

The anti-corrosion coating market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. Economic development and substantial investments in industries such as oil & gas, infrastructure, and automotive & transportation are key factors fueling the growth of the anti-corrosion coating market in the Asia Pacific region.

Breakdown of profiles of primary interviews for the report
• By Company Type: Tier 1 – 30%, Tier 2 – 43%, and Tier 3 – 27%
• By Designation: C Level – 21%, Director Level – 23%, and Others – 56%
• By Region: North America – 37%, Europe – 23%, Asia Pacific – 26%, and RoW – 14%
Key companies profiled in this report include AkzoNobel N.V. (Netherlands), PPG Industries, Inc. (US), Axalta Coating Systems Ltd. (US), BASF SE (Germany), The Sherwin-Williams Company (US), Ashland Inc. (US), Hempel A/S (Denmark), Jotun (Norway), RPM International Inc. (US), and Kansai Paint Co., Ltd. (Japan).

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