The global market for anti-corrosion coatings should reach $31.0 billion by 2022 from $23.3 billion in 2017 at a compound annual growth rate (CAGR) of 5.9%, from 2017 to 2022.
Albany, NY -- (SBWIRE) -- 04/17/2018 -- With the growing need to prevent the products and equipment from corrosion, leading manufacturers are focusing on opting for anti-corrosion coatings. Increasing demand for abrasion resistant and chemical resistant products is likely to fuel growth of the global anti-corrosion coatings market. Market Research Hub (MRH) has added a new report to its database, titled 'Anti-corrosion Coatings: Global Markets to 2022'.
Snapshot of Global Anti-corrosion Coatings Market
Often, the metallic products increasingly used in the marine and automotive industry are exposed to extreme weather and temperature conditions. Exposure to extreme temperature conditions can result in corrosion of the product. As the need to prevent the products and devices from corroding in the construction and automotive industry, leading manufacturers are focusing on utilizing anti-corrosion coatings. Application of anti-corrosion coatings protects the products from abrasions and chemicals. In addition, major manufacturers prefer opting for anti-corrosion coatings as it adds to the aesthetic value of the products, and retains gloss of the product.
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In order to remain in the forefront of the global market, leading manufacturers are focusing on developing application-specific anti-corrosion coatings for effective protection solutions. Major manufacturers are utilizing waterborne and solvent-borne anti-corrosion technologies. In addition, manufacturers are focusing on developing anti-corrosion coatings which add water resistance and high-corrosion resistance features. Application of the anti-corrosion coatings also improves compatibility of the products during the manufacturing process. Through product innovation, leading companies are focusing on improving their position in the competitive market.
Segmentation of Global Anti-corrosion Coatings Market
Crucial information encapsulated in the report offers insights on the different segments of the global market and their impact on the overall growth. Insights offered in the report highlights various types of anti-corrosion coatings that include chlorinated rubber, epoxy, zinc, polyurethane, alkyd, acrylic, and others. On the basis of technology, the report sections the global market as waterborne, self-healing, solvent-borne, powder-based, and others. In-depth insights on different segments will help the readers in identifying the major segments and impact of their growth on the global market.
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In addition to the technology and types of anti-corrosion coatings, the report sections the global market in terms of region. Based on region, the global market is segmented as Europe, North America, South America, Asia Pacific, and Middle East Asia. Regional analysis offered in the report is outlined on the overall revenue generated and global demand for anti-corrosion coatings in the assessment period. On the basis of insights offered on the regional analysis, readers can identify lucrative markets and the impact of their contribution towards growth of the global market.
Competitive Landscape of Global Anti-corrosion Coatings Market
The research report profiles some leading companies in the global market. Crucial information offered in the marketing strategies adopted by key companies, market predictions, and recent developments are compiled in the report to offer a better understanding of the market to the readers. Leading companies identified in the global market include Akzo Nobel NV, 3M Company, BASF, Ashland Inc., Wacker Chemie AG, and the Sherwin-Williams Company.
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