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Corrosion Protection Coating Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 17, 2024 /EINPresswire / -- The corrosion protection coating market has experienced robust growth in recent years, expanding from $16.84 billion in 2023 to $17.94 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to infrastructure development, automotive sector growth, increased focus on sustainable construction, rise in industrial manufacturing, aerospace industry requirements.
What Is The Estimated Market Size Of The Global Corrosion Protection Coating Market And Its Annual Growth Rate?
The corrosion protection coating global market is projected to continue its strong growth, reaching $23.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to demand for eco-friendly coatings, expansion of the energy sector, growing focus on asset longevity, water and wastewater treatment, stringent environmental regulations. Major trends in the forecast period include shift towards waterborne coatings, advancements in nanotechnology, adoption of smart coatings, demand for uv-curable coatings, shift towards powder coatings, development of anti-corrosion coating technologies.
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Growth Driver Of The Corrosion Protection Coating Market
The growing oil and gas industry is expected to propel the corrosion protection coatings market. Economic growth is a significant factor influencing demand for oil and gas products. This rising demand for oil and gas increases demand for corrosion protection coatings that aid in protecting steel structures in the oil and gas and petrochemical industries from corrosion.
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Which Market Players Are Steering the Corrosion Protection Coating Market Growth?
Key players in the market include Jotun A/S, Hempel A/S, RPM International Inc., Akzo Nobel N.V., The Sherwin-Williams Company, BASF SE, Axalta Coating Systems LLC, PPG Industries Inc., 3M Company, Koninklijke DSM N.V., Heubach GmbH, Renner Herrmann S.A., The Magni Group Inc., Wacker Chemie AG, Bluechem Group, Nippon Paint Holdings Co. Ltd., Rust-Oleum Corporation, Krylon Products Group, Valspar Corporation, Henkel AG & Co. KGaA, Sika AG, The Dow Chemical Company, Covestro AG, Berger Paints India Limited, Chugoku Marine Paints Ltd., Hempel (USA) Inc., Carboline Company, International Paint Ltd., Sherwin-Williams Protective & Marine Coatings, Tnemec Company Inc., Ameron International Corporation.
What Are the Dominant Trends in the Corrosion Protection Coating Market?
Technological innovations have emerged as a key trend gaining popularity in the corrosion protection coating market. Major companies operating in corrosion protection coatings are focused on providing innovative corrosion coating products to strengthen their market position.
How Is The Global Corrosion Protection Coating Market Segmented?
1) By Resin Type: Epoxy, Polyurethane, Zinc, Alkyd, Acrylic, Chlorinated Rubber, Other Types
2) By Technology: Water-based, Solvent-based, Powder-based, Other Technologies
3) By End-Use Industries: Marine, Oil and Gas, Petrochemical, Infrastructure, Power Generation, Water Treatment, Other End-users
Geographical Insights: North America Leading The Corrosion Protection Coating Market
Asia-Pacific was the largest region in the corrosion protection coating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the corrosion protection coating global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Corrosion Protection Coating Market Definition
The corrosion protection coating refers to a solution used to avoid metal degradation due to environmental exposure, degradation, oxidation, and moist air. Corrosion protective coatings add a layer to metal surfaces. These coatings can be produced from materials like zinc or iron and applied using a variety of approaches as a base layer, primer, or topcoat.
Corrosion Protection Coating Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global corrosion protection coating market report covering trends, opportunities, strategies, and more
The Corrosion Protection Coating Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on corrosion protection coating market size, corrosion protection coating market drivers and trends, corrosion protection coating market major players, corrosion protection coating competitors' revenues, corrosion protection coating market positioning, and corrosion protection coating market growth across geographies. The corrosion protection coating global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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