Anti-corrosion is referred to the protection coating on the metal surface in order to prevent it from being corroded by the external environmental conditions.
Sarasota, FL -- (SBWIRE) -- 08/14/2017 -- Global Anti-Corrosion Coating Market: Overview
Anti-corrosion is referred to the protection coating on the metal surface in order to prevent it from being corroded by the external environmental conditions. Metallic materials are reactive in nature when they are exposed to air or water. These coatings are chemical-resistant, lightweight, gloss retention, and abrasion-resistant as compared to others. Titanium and zinc are majorly involved in the production of anti-corrosion coatings. Anti-corrosion coatings are extensively employed in applications such as automotive, electronics, machinery, building and constructions, and industrial.
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Global Anti-Corrosion Coating Market: Growth Factors
Increasing demand from building and construction sector for anti-corrosion coating may drive the global anti-corrosion coating market in the coming years. Growing infrastructure activities in the emerging economies are anticipated to boost the global market in future. Steel is the major raw material used in the infrastructure sector. It possesses high tensile strength and is prone to corrosion than other available substitutes; this is expected to foster the global anti-corrosion coating market. Growth in the economic losses due to corrosion occurs in structures driving the global market. However, exponential growth in the automotive industries will also propel the global market for anti-corrosion coating in future. Furthermore, higher investment on the R&D activities for anti-corrosion coatings may affect the global anti-corrosion coating market in positive way. Conversely, many products are involved in the production of the anti-corrosion coatings and strict government regulations set to prevent environment are the major restraints the global anti-corrosion coating market growth.
Global Anti-Corrosion Coating Market: Segmentation
The global anti-corrosion coating market is divided based on applications as automotive & transportation, oil & gas, power generation, marine, building and construction, infrastructure, industrial, and others. Of these, building and construction is the largest application segment, and is expected to dominate the market in the coming years. On the basis of types, the global market is bifurcated as acrylic, chlorinated rubber, epoxy, polyurethane, zinc, and alkyd. Furthermore, based on technology, the global anti-corrosion coating market is bifurcated as powder coating, solvent-borne, waterborne, and others.
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Global Anti-Corrosion Coating Market: Regional Analysis
Asia Pacific held the largest market share owing to higher demand for anti-corrosion coating from building and construction sector. India and China are emerging as developing economies due to availability of large number of producers and consumers for anti-corrosion coatings. In addition, increasing disposal income may lead to exponential growth in the global market. Rising end-user industries in this region for anti-corrosion coatings such as marine, construction, automotives, and so on show may considerable growth in future. North America is emerging as the second largest market for anti-corrosion coatings. This trend is followed by Europe. The sluggish growth is mainly owing to stringent environmental regulations in some regions. However, stimulating automotive segment in Europe is projected to propel the global market growth. Developing economies such as South America and Africa grab largest growth opportunities for anti-corrosion coatings market.
Global Anti-Corrosion Coating Market: Competitive Players
Major players in the anti-corrosion coatings market include Diamond Vogel Paints, AkzoNobel NV, Sono-Tek Corporation, PPG Industries Inc., and RPM. International. Other players are Nippon Paint Co. Ltd., Royal DSM N.V., Sherwin-Williams Company, and Dow Chemical Company.
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Global Anti-Corrosion Coating Market: Regional Segment Analysis
The Middle East and Africa