“Corrosion Protection Coating Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on corrosion protection coating market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for corrosion protection coating? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The corrosion protection coating market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 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
- Companies Mentioned: Jotun; Hempel A/S; RPM International; AkzoNobel NV; The Sherwin-Williams Company
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the corrosion protection coating market are: Jotun, Hempel A/S, RPM International, AkzoNobel NV, The Sherwin-Williams Company, BASF SE, Axalta Coating Systems Limited, PPG Industries Inc., 3M Company, Koninklijke Dsm NV, Heubach GmbH, Renner Herrmann SA, The Magni Group, Wacker Chemie AG, Bluechem Group, and Arcoy Industries Private Limited.
The global corrosion protection coating market is expected to grow from $15.97 billion in 2022 to $17.00 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The corrosion protection coating market is expected to grow to $21.47 billion in 2027 at a CAGR of 6.0%.
The corrosion protection coating market consists of sales of inorganic zinc coatings. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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 adds 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.
Asia-Pacific was the largest region in the corrosion protection coating market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the corrosion protection coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of corrosion protection coating are epoxy, polyurethane, zInc., alkyd, acrylic, chlorinated rubber, and other types. The epoxy refers to a polymer used to prevent corrosion that is comprised of chains of carbon connected to other elements like hydrogen, oxygen, or nitrogen. Epoxy coatings offer optimum protection against mechanical erosion and electrochemical attack. The various technologies include water-based, solvent-based, powder-based, and other technologies that are suitable for marine, oil and gas, petrochemical, infrastructure, power generation, water treatment, and other industries.
The growing oil and gas industry demand 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. For Instance, according to U.S. Energy Information Administration, in 2021, the United States' petroleum consumption averages about 19.78 million barrels per day (b/d), including about a million b/d of biofuels. The total petroleum consumption in the United States was approximately 8% higher in 2021 than in 2020. Therefore, the growing demand for oil and gas will drive the market for corrosion protection coatings.
Technological innovations have emerged as a key trend gaining popularity in the corrosion protection coating market. Major companies operating in corrosion protection coating are focused on providing innovative corrosion coating products to strengthen their market position. For instance, in June 2022, Hempel, a Denmark-based coating solution company, introduced a new fast-drying CUI coating, Hempaprime CUI 275. Hempaprime CUI 275 is a fast-drying, alkylamine-cured epoxy paint that increases productivity and improves corrosion protection at energy generation and oil and gas facilities by having extremely short overcoating intervals and broad temperature resistance.
In August 2021, Sherwin-Williams, a US-based paint and coating manufacturing company, acquired the European industrial coatings business of Sika AG for an undisclosed amount. This acquisition is a strategic opportunity for Sherwin-Williams to drive growth and support the expansion of its market position in Europe. SIKA AG is a Germany-based chemicals company offering corrosion protection coatings.
The countries covered in the corrosion protection coating market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The corrosion protection coating market research report is one of a series of new reports from The Business Research Company that provides corrosion protection coating market statistics, including corrosion protection coating industry global market size, regional shares, competitors with a corrosion protection coating market share, detailed corrosion protection coating market segments, market trends and opportunities, and any further data you may need to thrive in the corrosion protection coating industry. This corrosion protection coating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Corrosion Protection Coating Market Characteristics
3. Corrosion Protection Coating Market Trends And Strategies
4. Corrosion Protection Coating Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Corrosion Protection Coating Market
- 4.2. Ukraine-Russia War Impact On Corrosion Protection Coating Market
- 4.3. Impact Of High Inflation On Corrosion Protection Coating Market
5. Corrosion Protection Coating Market Size And Growth
- 5.1. Global Corrosion Protection Coating Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Corrosion Protection Coating Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Corrosion Protection Coating Market Segmentation
- 6.1. Global Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Epoxy
- Polyurethane
- Zinc
- Alkyd
- Acrylic
- Chlorinated Rubber
- Other Resin Types
- 6.2. Global Corrosion Protection Coating Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Water-Based
- Solvent-Based
- Powder-Based
- Other Technologies
- 6.3. Global Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Marine
- Oil And Gas
- Petrochemical
- Infrastructure
- Power Generation
- Water Treatment
- Other End-Users
7. Corrosion Protection Coating Market Regional And Country Analysis
- 7.1. Global Corrosion Protection Coating Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Corrosion Protection Coating Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Corrosion Protection Coating Market
- 8.1. Asia-Pacific Corrosion Protection Coating Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Corrosion Protection Coating Market
- 9.1. China Corrosion Protection Coating Market Overview
- 9.2. China Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Corrosion Protection Coating Market
- 10.1. India Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Corrosion Protection Coating Market
- 11.1. Japan Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Corrosion Protection Coating Market
- 12.1. Australia Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Corrosion Protection Coating Market
- 13.1. Indonesia Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Corrosion Protection Coating Market
- 14.1. South Korea Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Corrosion Protection Coating Market
- 15.1. Western Europe Corrosion Protection Coating Market Overview
- 15.2. Western Europe Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Corrosion Protection Coating Market
- 16.1. UK Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Corrosion Protection Coating Market
- 17.1. Germany Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Corrosion Protection Coating Market
- 18.1. France Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Corrosion Protection Coating Market
- 19.1. Eastern Europe Corrosion Protection Coating Market Overview
- 19.2. Eastern Europe Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Corrosion Protection Coating Market
- 20.1. Russia Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Corrosion Protection Coating Market
- 21.1. North America Corrosion Protection Coating Market Overview
- 21.2. North America Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Corrosion Protection Coating Market
- 22.1. USA Corrosion Protection Coating Market Overview
- 22.2. USA Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Corrosion Protection Coating Market
- 23.1. South America Corrosion Protection Coating Market Overview
- 23.2. South America Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Corrosion Protection Coating Market
- 24.1. Brazil Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Corrosion Protection Coating Market
- 25.1. Middle East Corrosion Protection Coating Market Overview
- 25.2. Middle East Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Corrosion Protection Coating Market
- 26.1. Africa Corrosion Protection Coating Market Overview
- 26.2. Africa Corrosion Protection Coating Market, Segmentation By Resin Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Corrosion Protection Coating Market, Segmentation By End-Use Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Corrosion Protection Coating Market Competitive Landscape And Company Profiles
- 27.1. Corrosion Protection Coating Market Competitive Landscape
- 27.2. Corrosion Protection Coating Market Company Profiles
- 27.2.1. Jotun
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Hempel A/S
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. RPM International
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. AkzoNobel NV
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. The Sherwin-Williams Company
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Corrosion Protection Coating Market
29. Corrosion Protection Coating Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer