Anti-Corrosion Coatings Market Size (2024 - 2029)

The anti-corrosion coatings market is projected to experience growth over the forecast period, driven by expansion in the infrastructure, marine, and oil and gas sectors, particularly in the Asia-Pacific and North America regions. Despite setbacks due to the COVID-19 pandemic, the market has been on a recovery trajectory since 2021. The market's growth is supported by significant investments in infrastructure in emerging economies and a shift towards water-borne coatings, although regulations concerning volatile organic compounds pose challenges. The Asia-Pacific region is anticipated to lead the market due to increased investments across various end-user industries.

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Market Size of Anti-Corrosion Coatings Industry

Anti-Corrosion Coatings Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 25.80 Billion
Market Size (2029) USD 32.01 Billion
CAGR (2024 - 2029) 4.41 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Anti-Corrosion Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Anti-Corrosion Coatings Market Analysis

The Anti-Corrosion Coatings Market size is estimated at USD 25.80 billion in 2024, and is expected to reach USD 32.01 billion by 2029, growing at a CAGR of 4.41% during the forecast period (2024-2029).

  • The COVID-19 pandemic had a negative impact on the anti-corrosion coatings sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business has been recovering since 2021 and is expected to rise significantly in the coming years.
  • Major factors driving the market are significant growth in the infrastructure industry, an increase in demand from the marine industry, and expansion of oil and gas activities in Asia-Pacific and North America.
  • Regulations related to volatile organic compounds (VOCs) and is expected to hinder the growth of the market studied.
  • Significant investments in the infrastructure industry in emerging economies and increased adoption of water-borne coatings are expected to provide remarkable growth opportunities in the anti-corrosion coatings market in the future.
  • Asia-Pacific region is expected to dominate the anti-corrosion coatings markets due to the increase in investments in various end-user industries in the region during the forecast period.

Anti-Corrosion Coatings Industry Segmentation

Anti-corrosion coatings provide protection to metal components from rust, salt spray, moisture, oxidation, and other industrial chemicals and corrosive environments. The anti-corrosive properties of these coatings ensure the longer lifespan of metal components.

The anti-corrosion coatings market is segmented by resin type, technology, end-user industry, and by geography. By resin type, the market is segmented into epoxy, polyester, polyurethane, vinyl ester, and other resin types. By technology, the market is segmented into water-borne, solvent-borne, powder, and UV-cured. By end-user industry, the market is segmented into oil & gas, marine, power, infrastructure, industrial, aerospace and defense, transportation, and other end-user industries. The report also covers the market size and forecasts for the anti-corrosion coatings market in 15 countries across major regions.

For each segment, the market sizing and forecasts have been done on the basis of revenue (USD).

By Resin Type
Epoxy
Alkyds
Polyester
Polyurethane
Vinyl Ester
Other Resin Types
By Technology
Water-borne
Solvent-borne
Powder
UV-cured
By End-user Industry
Oil and Gas
Marine
Power
Infrastructure
Industrial
Aerospace and Defense
Transportation
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Anti-Corrosion Coatings Market Size Summary

The anti-corrosion coatings market is poised for significant growth, driven by robust demand from the infrastructure, marine, and oil and gas sectors, particularly in the Asia-Pacific and North America regions. The market, which experienced setbacks due to the COVID-19 pandemic, has been on a recovery trajectory since 2021. The infrastructure segment, encompassing rails, bridges, and roads, holds the largest and fastest-growing share, fueled by population growth and extensive infrastructure projects. The Asia-Pacific region is expected to dominate the market, supported by substantial investments in various end-user industries. However, regulatory challenges related to volatile organic compounds (VOCs) may pose hurdles to market expansion.

The market landscape is characterized by the presence of major players such as PPG Industries, Akzo Nobel, Nippon Paint Holdings, RPM International, and The Sherwin-Williams Company. These companies are actively innovating to enhance product offerings, as seen in recent launches like PPG's ENVIROCRON Primeron and Hempel's CUI coating. The increasing adoption of water-borne coatings and significant investments in infrastructure in emerging economies are anticipated to create lucrative opportunities for market growth. Additionally, the strategic importance of anti-corrosion coatings in supporting infrastructure development and global economic growth underscores their critical role in the market's future trajectory.

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Anti-Corrosion Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Significant Growth in the Infrastructure Industry

      2. 1.1.2 Increase in Demand from the Marine Industry

      3. 1.1.3 Expansion of Oil and Gas Activities in Asia-Pacific and North America

    2. 1.2 Restraints

      1. 1.2.1 Government Regulations Related to Volatile Organic Compounds (VOCs)

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 By Resin Type

      1. 2.1.1 Epoxy

      2. 2.1.2 Alkyds

      3. 2.1.3 Polyester

      4. 2.1.4 Polyurethane

      5. 2.1.5 Vinyl Ester

      6. 2.1.6 Other Resin Types

    2. 2.2 By Technology

      1. 2.2.1 Water-borne

      2. 2.2.2 Solvent-borne

      3. 2.2.3 Powder

      4. 2.2.4 UV-cured

    3. 2.3 By End-user Industry

      1. 2.3.1 Oil and Gas

      2. 2.3.2 Marine

      3. 2.3.3 Power

      4. 2.3.4 Infrastructure

      5. 2.3.5 Industrial

      6. 2.3.6 Aerospace and Defense

      7. 2.3.7 Transportation

      8. 2.3.8 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle East & Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle East & Africa

Anti-Corrosion Coatings Market Size FAQs

The Anti-corrosion Coatings Market size is expected to reach USD 25.80 billion in 2024 and grow at a CAGR of 4.41% to reach USD 32.01 billion by 2029.

In 2024, the Anti-corrosion Coatings Market size is expected to reach USD 25.80 billion.

Anti-Corrosion Coatings Market Report Snapshots

Anti-Corrosion Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)