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Corrosion Protective Coatings Market By Type (Epoxy Coatings, Polyurethane Coatings, Alkyd Coatings, Acrylic Coatings, Zinc-Rich Coatings, Fluoropolymer Coatings), By Technology (Solvent-Based, Water-Based, Powder), By End-User (Oil & Gas, Marine, Construction, Power Generation, Automotive & Transportation, Mining & Metals, Water Treatment, Chemical Processing), and By Region; Global Insights & Forecast (2024 – 2030)

Published: November, 2024  
|   Report ID: CM4169  
|   Chemicals & Material

As per Intent Market Research, the Corrosion Protective Coatings Market was valued at USD 11.7 billion in 2023 and will surpass USD 15.5 billion by 2030; growing at a CAGR of 4.1% during 2024 - 2030.

Epoxy Coatings Segment is Anticipated to Grow the Fastest Owing to Its Superior Protection and Versatility

The epoxy coatings segment is expected to witness the fastest growth in the corrosion protective coatings market, primarily due to its exceptional protection against corrosion and its versatility across various industries. Epoxy coatings are highly resistant to chemicals, moisture, and abrasion, making them ideal for harsh environments, including the oil & gas, marine, and power generation sectors. These coatings form a robust and durable protective layer that shields metal structures and equipment from degradation caused by corrosive elements, extending the lifespan of valuable assets.

Additionally, the increased demand for high-performance coatings in industrial applications, along with growing infrastructure investments worldwide, is propelling the use of epoxy coatings. Their ability to adhere strongly to surfaces, along with resistance to extreme temperatures and mechanical stress, further contributes to their widespread adoption. With continuous advancements in formulation technology, epoxy coatings are becoming more efficient and eco-friendly, cementing their position as a key solution for corrosion protection.

Corrosion Protective Coatings Market By Type

 

Asia Pacific is Expected to Dominate the Corrosion Protective Coatings Market Due to Expanding Industrial and Construction Activities

Asia Pacific is expected to hold the largest share of the Corrosion Protective Coatings market, driven by rapid industrialization and growth in construction activities across major economies such as China, India, and Japan. The region's booming manufacturing sector, coupled with significant investments in infrastructure development, has led to increased demand for corrosion protection solutions to safeguard valuable industrial equipment, pipelines, and structural materials from the effects of corrosion.

The oil & gas and marine sectors are also expanding in this region, further driving the demand for protective coatings. Governments in Asia Pacific are prioritizing infrastructure and energy projects, requiring durable corrosion protection for structures and equipment. As a result, the region's strong economic growth and rising industrial output are anticipated to sustain its dominance in the global market for corrosion protective coatings. Additionally, increasing awareness of the need to extend the lifespan of assets in corrosive environments continues to push market growth in the region.

Corrosion Protective Coatings Market share by region

The report focuses on estimating the current market potential in terms of the total addressable market for all the segments, sub-segments, and regions. In the process, all the high-growth and upcoming technologies were identified and analyzed to measure their impact on the current and future market. The report also identifies the key stakeholders, their business gaps, and their purchasing behavior. This information is essential for developing effective marketing strategies and creating products or services that meet the needs of the target market. The report also covers a detailed analysis of the competitive landscape which includes major players, their recent developments, growth strategies, product benchmarking, and manufacturing operations among others. Also, brief insights on start-up ecosystem and emerging companies is also included as part of this report.

Report Objectives:

The report will help you answer some of the most critical questions in the Corrosion Protective Coatings Market. A few of them are as follows:

  1. What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
  2. What are the prevailing technology trends in the Corrosion Protective Coatings Market?
  3. What is the size of the Corrosion Protective Coatings Market based on segments, sub-segments, and regions?
  4. What is the size of different market segments across key regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa?
  5. What are the market opportunities for stakeholders after analyzing key market trends?
  6. Who are the leading market players and what are their market share and core competencies?
  7. What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
  8. What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?

Report Scope:

Report Features

Description

Market Size (2023)

USD 11.7 billion

Forecasted Value (2030)

USD 15.5 billion

CAGR (2024 – 2030)

4.1%

Base Year for Estimation

2023

Historic Year

2022

Forecast Period

2024 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Corrosion Protective Coatings Market By Type (Epoxy Coatings, Polyurethane Coatings, Alkyd Coatings, Acrylic Coatings, Zinc-Rich Coatings, Fluoropolymer Coatings), By Technology (Solvent-Based, Water-Based, Powder), By End-User (Oil & Gas, Marine, Construction, Power Generation, Automotive & Transportation, Mining & Metals, Water Treatment, Chemical Processing)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Corrosion Protective Coatings Market, by Type (Market Size & Forecast: USD Million, 2022 – 2030)

   4.1. Epoxy Coatings

   4.2. Polyurethane Coatings

   4.3. Alkyd Coatings

   4.4. Acrylic Coatings

   4.5. Zinc-Rich Coatings

   4.6. Fluoropolymer Coatings

   4.7. Others

5. Corrosion Protective Coatings Market, by Technology (Market Size & Forecast: USD Million, 2022 – 2030)

   5.1. Solvent-Based

   5.2. Water-Based

   5.3. Powder

   5.4. Others

6. Corrosion Protective Coatings Market, by End-User (Market Size & Forecast: USD Million, 2022 – 2030)

   6.1. Oil & Gas

   6.2. Marine

   6.3. Construction

   6.4. Power Generation

   6.5. Automotive & Transportation

   6.6. Mining & Metals

   6.7. Water Treatment

   6.8. Chemical Processing

   6.9. Others

7. Regional Analysis (Market Size & Forecast: USD Million, 2022 – 2030)

   7.1. Regional Overview

   7.2. North America

      7.2.1. Regional Trends & Growth Drivers

      7.2.2. Barriers & Challenges

      7.2.3. Opportunities

      7.2.4. Factor Impact Analysis

      7.2.5. Technology Trends

      7.2.6. North America Corrosion Protective Coatings Market, by Type

      7.2.7. North America Corrosion Protective Coatings Market, by Technology

      7.2.8. North America Corrosion Protective Coatings Market, by End-User

      7.2.9. By Country

         7.2.9.1. US

               7.2.9.1.1. US Corrosion Protective Coatings Market, by Type

               7.2.9.1.2. US Corrosion Protective Coatings Market, by Technology

               7.2.9.1.3. US Corrosion Protective Coatings Market, by End-User

         7.2.9.2. Canada

         7.2.9.3. Mexico

         *Similar segmentation will be provided for each region and country

   7.3. Europe

   7.4. Asia-Pacific

   7.5. Latin America

   7.6. Middle East & Africa

8. Competitive Landscape

   8.1. Overview of the Key Players

   8.2. Competitive Ecosystem

      8.2.1. Level of Fragmentation

      8.2.2. Market Consolidation

      8.2.3. Product Innovation

   8.3. Company Share Analysis

   8.4. Company Benchmarking Matrix

      8.4.1. Strategic Overview

      8.4.2. Product Innovations

   8.5. Start-up Ecosystem

   8.6. Strategic Competitive Insights/ Customer Imperatives

   8.7. ESG Matrix/ Sustainability Matrix

   8.8. Manufacturing Network

      8.8.1. Locations

      8.8.2. Supply Chain and Logistics

      8.8.3. Product Flexibility/Customization

      8.8.4. Digital Transformation and Connectivity

      8.8.5. Environmental and Regulatory Compliance

   8.9. Technology Readiness Level Matrix

   8.10. Technology Maturity Curve

   8.11. Buying Criteria

9. Company Profiles

   9.1. AkzoNobel

      9.1.1. Company Overview

      9.1.2. Company Financials

      9.1.3. Product/Service Portfolio

      9.1.4. Recent Developments

      9.1.5. IMR Analysis

      *Similar information will be provided for other companies 

   9.2. Axalta Coating Systems

   9.3. BASF

   9.4. Berger Paints

   9.5. Chugoku Marine Paints

   9.6. Hempel

   9.7. Jotun

   9.8. Kansai Paint

   9.9. Nippon Paint

   9.10. PPG Industries

   9.11. RPM International

   9.12. Sherwin-Williams

   9.13. Sika

   9.14. Teknos Group

   9.15. Wacker Chemie

10. Appendix

 

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A comprehensive market research approach was employed to gather and analyze data on the Corrosion Protective Coatings Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Corrosion Protective Coatings Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach - Corrosion Protective Coatings Market

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the corrosion protective coatings ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Corrosion Protective Coatings Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down - Corrosion Protective Coatings Market

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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