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High-performance anti-corrosion coatings are used to protect metal and concrete structures, tanks, pipes, and processing equipment from deterioration caused by exposure to corrosive environments including acid rain. These coatings are primarily used in chemical plants, oil refineries, public utility works, and pulp and paper mills. High-performance anti-corrosion coatings are also employed to protect ships, offshore oil drilling rigs and production platforms, and other structures used in marine environments.
Based on product, the global high-performance anti-corrosion coatings market has been segmented into epoxy, urethane, acrylic, and others. Epoxy coatings protect substrates from deterioration caused by corrosive surroundings. These coatings have excellent adhesion and flexibility. Therefore, they are highly preferred in various end-user industries. Presently, epoxy coatings are widely used high-performance anti-corrosion coatings across the globe. Rise in the demand for acrylic coatings is expected to fuel the high-performance anti-corrosion coatings market between 2018 and 2026. These coatings offer superior structural and mechanical characteristics than other anti-corrosion coatings such as alkyd and vinyl coatings. Acrylic coatings have high color retention rate and they are chemically inert.
Additionally, these are eco-friendly. In terms of application, the global high-performance anti-corrosion coatings market can be segmented into oil & gas, marine, construction, tanks & pipes, power generation, and others. High-performance anti-corrosion coatings are widely used in the oil & gas industry. In terms of demand, the oil & gas segment is expected to present growth opportunities to the high-performance anti-corrosion coatings market between 2018 and 2026. Rise in maintenance and repair activities in the global oil & gas industry, especially for oil drilling equipment, offshore installation machinery, process vessels, and transmission pipelines, is likely to be a major driver of the market from 2018 to 2026. The power generation segment is estimated to present lucrative opportunities to the high-performance anti-corrosion coatings market between 2018 and 2026. High-performance anti-corrosion coatings are required for coating applications in insulated wires, electricity generating components, turbine blades, and hydraulic systems used in nuclear, geothermal, and solar power sectors.
Based on region, the global high-performance anti-corrosion coatings market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominates the global market, due to growth of pharmaceutical and health care industries in the region. Rapid infrastructure development in major countries of Asia Pacific such as China, India, Indonesia, Vietnam, Singapore, and Malaysia is expected to boost the consumption of high-performance anti-corrosion coatings in the region between 2018 and 2026.
High-performance anti-corrosion coatings are extensively consumed in the construction industry. These coatings have a wide range of applications in infrastructure development in this industry. Some of the key uses of high-performance anti-corrosion coatings include their application on steel, metal, and concrete substrates used in extraction, utilities, manufacturing, and transport infrastructure. Development of the transport infrastructure in Asia Pacific is anticipated to be the key driving factor for the market in the region during forecast period. Use of metal and steel in the construction of bridges, roadways, highways, waterways, airports, and railways is likely to provide immense growth opportunities to the high-performance anti-corrosion coatings market in the next few years. Growth of the marine industry in Asia Pacific is projected to boost the high-performance anti-corrosion coatings market in the region during the forecast period. Container ships, cargos, offshore and onshore vessels, surface warships, and submarines are a few of the marine industry components that require protective coatings for their durability.
Constantly improving trade ties between Asia Pacific and other regions, primarily Europe and North America, are expected to boost bulk transport of commodities in the next few years. This rising trend of seaway transport in Asia Pacific is projected to increase shipbuilding and repair activities, primarily in China, Japan, and South Korea in the near future. Thus, growth of the shipbuilding sector in the marine industry would require incorporation of enhanced performance coatings, especially in container ships and onshore vessels. Hence, demand for high-performance anti-corrosion coatings in the marine industry in Asia Pacific is likely to increase in the next few years.
The report analyzes and forecasts the high-performance anti-corrosion coatings market at the global and regional levels. The market has been projected in terms of revenue (US$ Bn) and Volume (Kilo Tons) for the period from 2018 to 2026. The study includes drivers and restraints of the global high-performance anti-corrosion coatings market. It also covers the expected impact of these drivers and restraints on the demand for high-performance anti-corrosion coatings during the forecast period. The report also highlights growth opportunities for the high-performance anti-corrosion coatings market at the global and regional levels.
The report comprises detailed value chain analysis, which provides a comprehensive view of the global high-performance anti-corrosion coatings market. Porter’s Five Forces model for the high-performance anti-corrosion coatings market has also been included to help understand the competition landscape. The study encompasses market attractiveness analysis, wherein product segments and application segments have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global high-performance anti-corrosion coatings market by segmenting it in terms of product, application, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes current and future demand for high-performance anti-corrosion coatings in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers individual product segments and application segments of the market in all regions.
The study includes profiles of major companies operating in the global high-performance anti-corrosion coatings market. Key players profiled in the report are Akzo Nobel N.V., PPG Industries Inc., Jotun A/S, Hempel A/S, Nippon Paint Holdings Co., Ltd., and 3M. Market players have been profiled in terms of company overview, business strategies, and recent developments.
The report provides the estimated market size of the global high-performance anti-corrosion coatings market for 2017 and forecast for the next nine years. The size of the global market has been provided in terms of revenue and volume. Market numbers have been estimated based on product, application, and regional segments. The market size and forecast for each product and application segment have been provided for the global and regional markets.
The global high-performance anti-corrosion coatings market has been segmented as follows:
Global High-performance Anti-corrosion Coatings Market, by Product
- Epoxy
- Urethane
- Acrylic
- Others
Global High-performance Anti-corrosion Coatings Market, by Application
- Oil & Gas
- Marine
- Construction
- Tanks & Pipes
- Power Generation
- Others
Global High-performance Anti-corrosion Coatings Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
Key Takeaways
- The report provides extensive analysis of market trends from 2018 to 2026 to identify growth opportunities and market developments
- It provides analysis of various products and applications wherein high-performance anti-corrosion coatings are used
- It identifies key factors useful to build a roadmap of upcoming opportunities for the high-performance anti-corrosion coatings market at the global, regional, and country levels
- The report offers comprehensive analysis with respect to investments and regulatory scenario that would subsequently impact the outlook and forecast for the global high-performance anti-corrosion coatings market between 2018 and 2026
- The report provides detailed competition landscape of key players operating in the market to understand the competition level
- The report offers Porters’ Five Forces analysis that highlights the power of buyers and suppliers operating in the market
