Global Corrosion Protective Coatings Market Overview by Trend, Challenges, Drivers and Applications Forecast to 2022: Key Players:
Global
Corrosion Protective Coatings Market is estimated to grow significantly in the
forecast period owing to its wide applications in industries like marine, oil
& gas, automotive, etc. Corrosion protective coatings are available in the
form of powder coatings or paints, which are applied to steel to offer
protection from corrosion, abrasion, chemical, thermal and ultraviolet
degradation. They are used in areas of extreme environments like salt water,
heat or any kind of severe climatic conditions.
Corrosion
protective coatings industry is driven by wide application of the product in
several end use industries. Emerging economies of Asia Pacific region are using
corrosion protective coatings for defense sectors like navy (ships).
Investments for the same is witnessing progress over the recent years. These
factors are expected to drive corrosion protective coatings market
substantially in the near future. Implementation of strict government policies
is impelling research and development activities in the market. However,
introduction and growth of eco-friendly waterborne items as an alternative to
solvent borne coatings are hampering the market growth of corrosion protective
coatings.
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Manufactures
are adopting several technologies to improve the efficiency of automobiles.
Moreover, increasing use of coatings in automotive is expected to bring more
opportunities for the manufacturers in corrosion protective coatings industry.
Corrosion
protective coatings market is categorized on the basis of material, technology,
end user and geography. On the basis of material, the market is divided into
hard rubber lining and soft rubber lining. Soft rubber lining segment is
expected to hold larger market share of corrosion protective coatings owing to
increasing number of application.
Based
on technology, corrosion protective coatings industry is divided into solvent
borne epoxy, solids epoxy and waterborne epoxy. Water borne protective coatings
are expected to the market of lead corrosion protective coatings since they are
extensively used in multiple industrial applications like oil & gas, marine
and others.
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On
the basis of end user, construction, marine, energy & power, automotive,
industrial, transportation among others. Owing to the increase in demand for
commercial ships due to growing tourism and automobile industry due to increase
in demand, marine, transportation and automotive industries are expected to
lead corrosion protective coatings market in the coming years.
Geographically,
corrosion protective coatings industry is segmented as North America, Europe,
Asia Pacific and Middle East & Africa. Asia Pacific is predicted to
dominate the market of corrosion protective coatings owing to the speedy
developments in shipbuilding, construction, manufacturing and automotive
industries.
The
prominent players in corrosion protective coatings market are Ashland Global
Holdings, Inc., Axalta Coating Systems, Akzo Nobel NV, BASF Coating GmbH,
Polycorp Limited, Koch Knight LLC, STEULER - KCH GmbH, Jotun A/S, The Sherwin
Williams Company, and PPG Industries, Inc.
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