Anti-Corrosion Coatings Market Size & Share | Growth Analysis 2035

Anti-Corrosion Coatings Market Size and Forecast

Explore the growth, trends, and applications of anti-corrosion coatings in automotive, marine, and construction industries. The global anti-corrosion coatings market Size is estimated to be valued at USD 64.85 billion by 2035 and is expected to grow at a compound annual growth rate (CAGR) of 5.95% in the forecast period of 2023-2035. The growing need for thin-walled, durable metallic parts in the manufacturing of lightweight products, which are used across industries such as building & construction, oil & gas, automotive, and marine, is anticipated to drive the market growth over the forecast period. During the COVID-19 pandemic across the globe, the demand for anti-corrosion coatings has increased only in oil & gas and marine applications owing to the reduced exploration and marine operations. Machines & equipment that are not in operation are subject to maintenance to prevent degradation and rusting as such equipment has crude oil residual, water, salt, and other chemicals, which cause corrosion.

The Executive Office of the President of the United States reports that the U.S. federal government intends to invest 2 trillion dollars in infrastructure development over 10 years. The country has a low-risk environment, a sustainable economy before COVID-19, and a solid financial sector.

In recent years, these factors have provided a plethora of opportunities for investors, which could activate infrastructure spending, including new infrastructure works and refurbishment of old buildings in the country. According to estimates, this will contribute positively to the demand for anti-corrosion coatings in the U.S. construction industry.

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Anti-Corrosion Coatings Market Key Highlights

• Based on the Type, the Acrylic category accounted for a significant market share in the Anti-Corrosion Coatings market industry at 41.20% in 2024
• In 2024, by Technology, the Solvent-based dominated the Anti-Corrosion Coatings market with 45.30% of market share
• Based on the End-Use Industry, the Oil & Gas category accounted for a significant market share in the Anti-Corrosion Coatings market industry for 35.40% in 2024
• Asia Pacific dominated the Anti-Corrosion Coatings market industry with 36.76% Anti-Corrosion Coatings market share in 2024
• North American region is anticipated to grow at the highest CAGR during the forecast period in the Anti-Corrosion Coatings market industry

Market Dynamics

Causes: More damage losses from corrosion

Corrosion is one of the grave problems faced in various end-use industries. It can develop on the jacketing, the insulation hardware, or the underlying piping (or equipment). Corrosion can lead to a very high monetary loss and pose a direct threat to the safety of general property and human life.

Significant financial losses must be absorbed due to rust, corrosion, wear and tear, accidental damages, and others on fixed capital consumption (CFC). These losses contribute to economic depreciation and are prominently observed in manufacturing and other sectors.

Restraining Forces: Environmental Regulations

Regulations were focused on reducing the pollution of volatile organic compounds (VOC) emissions from the coatings. According to REACH and LEED GreenSeal GC-03 2nd Ed., 1997, the VOC content was described in grams per liter (g/L). These regulations put pressure on anti-coating manufacturers to meet these standards by minimizing the VOC content while ensuring the quality and performance of these coatings. With the regulations came a change in the technology that is being used for the production of the coatings, which had an influence on the price of anti-corrosion coating. Thus, in the short term, the regulations are a significant challenge inhibiting the growth of the anti-corrosion coating market.

Opportunity: High demand for cost-efficient anti-corrosion coatings

Alterations in operational conditions in different end-use industries, including oil and gas and marine, have led to a demand for anti-corrosion coatings that are not only effective but also possess enhanced properties. The increase in the use of enhanced oil recovery (EOR) procedures in the oil and gas sector, for instance, has driven the need for coatings capable of withstanding long exposures to high temperatures and pressures whilst still maintaining structural protection over time. The demand for high solid anti-corrosion coating from oil and gas, maritime, and infrastructure industries has also fueled the R&D activities for the development of such coatings, which can be considered for utilization in prevailing hostile environments. Although this is a short-term driver of the anti-corrosion coating industry, it has a possibility to become a long-term driver in the future. This is expected to contribute to significant opportunities for market growth from the demand side for high-efficiency anti-corrosion coating.

Challenges: New entrants to the Local player's market.

The global anti-corrosion coating market is highly consolidated since it is not penetrated by many small players. Markets Covered: The global wood coating market share is split into various segments, including type of wood coating and sub-segments in particleboard, plywood, and medium-density fiberboard. Another example includes both small local players within the Anti-corrosion coating market like Diamond Vogel Paints (U.S.) and SK Formulations India Pvt. Ltd. (India) — which has no financial or technological clout to speak of to in any way answer the global majors. Increased R&D initiatives and a focus on a narrow Florida section by local players are gradually making way for them. They are able to recognize what needs and requirements exist in the local vicinity, and they have the ability to cater to them through the provision of products that can be customized according to their use. There are new competitors entering the stage, such as Ancatt (U.S.) or Carboline (U.K.), that can help in this domain, and traditional players dominate the market.

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Segment Insights

Type Insights

Prime Market Share of 2024 for Solvent-Based Technology Segment

In 2024, the global anti-corrosion coatings market was dominated by the solvent-based technology segment. This high stake in the market is responsible for the augmenting demand for manufacturing machines, industrial tanks, pipes, chemical storage tanks, ballast tanks, gas ducts, smokestacks, and cooling towers. In addition, solvent-based corrosion protection coating has low drying time, humidity, increased temperature, and abrasion resistance.

By Type:

• Epoxy
• Polyurethane
• Acrylic
• Alkyd
• Zinc
• Chlorinated Rubber
• Others

End-User Insights

Prediction: Oil and Gas Application Service Industry to Hold Dominance in Oil and Gas Applications Segment During Estimation Period

In care homes,  hospitals, and drop-in centers, anti-corrosion coating is used for handles, floors, beds, ceiling paints, and walls. Regionally, Oil & Gas application segment led the overall market in 2024. The high market cut is due to the great significance and the rigorous application of corrosion protection coating in this segment. What is more, the anti-corrosion coating operations reduce the threat of microbes, additionally increasing surface finish and abrasion resistance.

By End Use Industry:

• Oil & Gas
• Industrial
• Marine
• Infrastructure
• Power Generation
• Automotive and Transportation
• Others

Technology Insights

Anti-corrosion Coatings Market Revenue: Acrylic Material Segment is Dominant

Among various material segments covered in the report, the acrylic material segment dominated the market in 2024. Such a high share can be attributed to the belonging properties of these materials, including non-rust and weathering resistance mechanisms. Water-based acrylic coatings are by far the most used because of their comfort of handling, superior performance, and economic aspects in alternative areas such as roof coating, wall coating, and coating in comparison to other materials.

By Technology:

• Solvent-based
• Water-based
• Powder Coatings
• Other Technology

Region Insights

The market for the growing anti-corrosion coating is present in the Asia Pacific.

The Asia Pacific region accounted for the largest share, in terms of value and volume, of the global anti-corrosion coatings market and is also expected to be the fastest-growing region during the forecast period. Asia Pacific is attributed to economic development with the highest investment in the automotive & transportation sector, infrastructure, power generation, and industrial. Asia Pacific is the most lucrative market, and it will continue to be so in the next few years. Moreover, multinational companies are moving production units to ASIA PACIFIC to get the benefit of low-cost labor and fulfill local market demand.

By Region

• North America - (U.S., Canada, Mexico)
• Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
• Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
• Latin America - (Brazil, Argentina, Rest Of Latin America)
• Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)

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Competitive Landscape

There is a wide-ranging and detailed regulatory environment at the global and market level, affecting the Anti-Corrosion Coatings market. These laws include environmental regulations, safety laws, performance and quality standards, product labeling laws, and laws specific to the industry. These requirements ensure the safe and environmentally responsible manufacture, distribution, and use of a product while also verifying that products meet certain quality and performance specifications. Also, it contributes to the industry's credibility and value of the anti-corrosion coatings field. The top players in the Anti-Corrosion coating market are also employing innovation-oriented, sustainability-targeted, and market-expanding moves to secure their standing in the market. The main focus is on product innovation, and companies are spending on the development of products by using nanotechnology, self-healing coatings, and hybrid formulations to improve corrosion resistance and durability.

Some of the key players in the global Anti-Corrosion Coatings market are - PPG Industries Inc, AkzoNobel N.V, The Sherwin-Williams Company, Axalta Coating Systems LLC, BASF SE, Hempel A/S, Ashland, Jotun, RPM International Inc, Kansai Paint Co. Ltd, and others.

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Anti-corrosion Coatings Market recent developments:

• Akzo Nobel N.V. introduced Interpon A3000 in May 2024. This is the first single-layer powder coating from the company designed for two-wheelers, which enables customers to step up their efficiency benefits without any compromise on performance or aesthetics. Interpon A3000 comes in a wide range of colors and metallic effects and is formulated to both protect and beautify the body parts, wheels and trim for any two-wheeler. It protects against corrosion, wards off interference from fuel, oil, and other coliseums, and has strong resistance against chipping from stones and pebbles.
• In March 2023, the company launched the PPG ENVIROCRON Primeron primer powder portfolio from PPG Industries Inc. This is a highly corrosion-resistant paint suitable for all metal substrates, hot dipped galvanized steel, metalized steel, and aluminum. Additionally, the portfolio has withstood testing by corrosivity categories and received approval from the QUALISTEELCOAT international quality label for coated steel.

Research Methodology

Large sample size data collection modules are used for data collection and base year analysis. There are many ways and strategies through which the data or market-related information can be acquired; it is the stage of collecting that data. This must include reviewing and planning all the data harvested from the past ahead of time. It also comprises the exploration of data inconsistencies observed across several data sources. Market statistical and coherent models extract and conclude the market data. Besides, the market report focuses on major success factors, including market share analysis and key trend analysis. Read more about this report here and request an analyst call or drop your inquiry down.

Vantage Market Research team uses the following key research methodologies: Data triangulation (Data mining, analysis of the impact of data variables on the market & primary (industry expert) validation). Includes Data models like Vendor Positioning Grid, Market Time Line Analysis,  Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional, and Vendor Share Analysis. If you have any questions about the research methodology, feel free to ask and our experts will be happy to assist.

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