Anti-Corrosion Coating Market to Hit 5.1% CAGR to 2021 Led by Solventborne Technology
The market size of anti-corrosion coating is expected to reach USD30.04 billion by 2021, registering a CAGR of 5.1% between 2016 and 2021 led by Solventborne technology and Marine to be the largest end-use industry of the anti-corrosion coating market between 2016 and 2021.
Pune, India – July 6, 2016 /MarketersMedia/ —
The growth of anti-corrosion coating market is primarily triggered by its huge demand from the Asia-Pacific region and the growing end-use industries such as marine, oil & gas, infrastructure, industrial, power generation, and automotive & transportation. Liberalization of foreign trade &investments and change in industrial policies has led to rapid industrialization in China for the past three decades. This, in turn, is contributing to the increasing demand for anti-corrosion coating in the Asia-Pacific region.
Complete report on anti-corrosion coating market across 229 pages, profiling 25 companies and supported with 176 tables and 83 figures is now available at http://www.marketreportshub.com/anti-corrosion-coating-industry-research-marketsandmarkets.html .
Epoxy anti-corrosion coating led the global anti-corrosion coating market in 2015. Higher demand for epoxy anti-corrosion coating is owing to the compatibility of epoxy with other coating materials. The dominance of epoxy anti-corrosion coating is mainly due to its properties such as good corrosion protection, water resistance, and adhesion to steel. In addition, the increasing demand from the various end-use industries such as marine, oil & gas, infrastructure, and automotive & transportation is fueling the growth of epoxy anti-corrosion coating.
The major end-use industries of anti-corrosion coating market are marine, oil & gas, industrial, power generation, automotive & transportation, and others (such as water & wastewater processing, food & beverage processing, and pulp & paper industries). The marine end-use industry accounted for the largest share of the anti-corrosion coating market due to the large volume of coatings used in marine applications. Anti-corrosion coatings are predominantly used in the marine sector and are specially formulated to counter extremely harsh environment such as salt water, temperature, pressure, and organic formation among others.
Asia-Pacific is projected to be the largest and the fastest-growing market of anti-corrosion coating, globally. This is mainly attributed to high economic growth rate, followed by heavy investment in the end-use industries such as automotive, infrastructure, and alternative power generation. With economic contraction and saturation in the European and North American markets, demand is shifting to the Asia-Pacific region. Moreover, with Chinese enterprises offering cheap labor and foreign enterprises providing advanced technologies, the anti-corrosion coating market experiences significant growth in the region.
Some of the key companies profiled in this report are Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (U.S.), Hempel A/S (Denmark), Jotun A/S (Norway), Axalta Coating System Ltd. (U.S.), The Sherwin-Williams Company (U.S.), Kansai Paints Co. Ltd. (Japan), RPM International, Inc. (U.S.), BASF SE (Germany), and Ashland Inc. (U.S.). Ask for the discount before order a copy of Anti-Corrosion Coating Market by Type (Epoxy, Polyurethanes, Acrylic, Alkyd), Technology (Solvent, Water, Powder), End-use Industry (Marine, Oil & Gas, Industrial, Infrastructure, and Power Generation) & by Region – Global Forecast to 2021 research report at http://www.marketreportshub.com/discount?rpid=2611 .
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (30%), Tier 2 (43%) and Tier 3 (27%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (21%), Director Level (23%) and others (56%) from various key organizations operating in the global anti-corrosion coating market. The primary interviews were conducted worldwide covering regions such as North America (37%), Europe (23%), Asia-Pacific (26%) and RoW (14%).
On a related note, another research on Insulation Coating Market Global Trends & Forecasts to 2021 says, the insulation coatings market size is estimated to reach USD 8.29 billion by 2021 at a CAGR of 7.9% between 2016 and 2021. Polyurethane is the fastest-growing type of insulation coatings. Rising demand in Asia-Pacific is the major driver for the insulation coatings market. Companies like The Dow Chemical Company, Akzo Nobel NV, PPG Industries, The Sherwin-Williams Company, Kansai Paint, Jotun Group, Mascoat, Carboline, Nippon Paint and Sharpshell Industrial Solution have been profiled in this 197 pages research report available at http://www.marketreportshub.com/insulation-coating-industry-research-marketsandmarkets.html .
About Us:
Market Reports Hub is your one-stop online shop for syndicated industry research reports on 25+ categories and their sub-sectors. We bring to you to the latest in market research across multiple industries and geographies from leading research publishers across the globe.
For more information, please visit http://www.marketreportshub.com
Contact Info:
Name: Ritesh Tiwari
Organization: Market Reports Hub
Address: UNIT no 802, Tower no. 7, SEZ Magarpatta city, Hadapsar
Phone: + 1 888 391 5441
Release ID: 122237
Copyright © 1999-2013 SproutNews.com
