Sellbyville, DE -- (SBWIRE) -- 11/15/2018 -- Anti-Corrosion Coatings Market is projected to exceed USD 20.21 billion by 2025 according to this new research report. The key driver propelling the anti-corrosion coatings market is the globally escalating energy demand. The global population is expected to surpass 9.7 billion by 2050, which is likely to rouse demand for clean energy, consequently forging the industry growth. These coatings provide protection to the equipment associated with energy sector including solar, oil & gas, coal, biomass, hydro and nuclear. The Anti-Corrosion Coatings market will witness high demand from these sectors in the forecast period.

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Global construction industry will reach USD 16 trillion by 2025, with CAGR more than 7%. This portrays future requirement for new infrastructure as well as the maintenance of present constructions. The industry is subjected to consistent technological innovation and exhibits rising demand for metal-based structures like prefabricated washrooms and walls. Anti-corrosion coatings market will be significantly driven by construction and architectural applications, for their capabilities to deliver structural strength and value added aesthetic appearance to the structure.

Robust growth in the oil & gas industry will further drive the Anti-Corrosion Coatings market growth in the near future. The global oil & gas equipment Anti-Corrosion Coatings market is projected to reach USD 278 billion by 2025. Also, the rising demand for energy production based on oil sands, oil shale, tar sands and shale gas will further propel the market.

The Anti-Corrosion Coatings market is probable to witness certain growth restraints such as significant price volatility of petrochemical feedstock and severe environmental regulations which may undesirably influence anti-corrosion coatings market share in the near future. Also, stringent legislations towards (VOC) Volatile Organic Compounds ingredients used in the coatings applications such as toluene, ethylene, benzene and naphthalene might negatively affect the Anti-Corrosion Coatings market growth. However, increasing demand and favorable government legislations for water based anti-corrosive coatings will generate new growth prospects.

Epoxy anti corrosion coatings are likely to grow with 4.5% over the forecast timeframe, holding the largest Anti-Corrosion Coatings market share. The demand is attributed to the product features such as corrosion resistance, superior abrasion, higher bonding strength with concrete & steel. Polyurethane anti-corrosion coatings will also witness significant growth trends owing to their compatibility with wide temperature range up to 1100°C.

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Asia Pacific region is expected to witness CAGR over 5% in the forecast period. The growth was mainly driven by the thriving regional construction industry, easy accessibility to workable anti-corrosion solutions and regional lower labor costs. The rising military and commercial shipbuilding activities in the in the region will also propel the Anti-Corrosion Coatings market growth. The U.S. Anti-Corrosion Coatings market share is likely to grow with gains over 4.5% by 2025. The regional growth will be driven by growing government military investment. Budding oil & gas sector in the region will further propel the Anti-Corrosion Coatings market growth.

Major industry participants include BASF, Akzonobel, Hempel, Ashland, Jotun, Axalta Coating, Kansai Paints, The Sherwin-Williams Company, RPM International, PPG Industries and. Other prominent industry share contributors are Nippon Paints, Chugoku Marine Paints, Tnemec, Sokema, Valspar, AnCatt and AICA Kogyo.

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