Anti Corrosion Coatings Market Size, Share, Opportunities, And Trends By Type (Acrylic, Alkyd, Polyurethane, Epoxy, Zinc, Others), By Application (Solvent-based, Water-based, Powder, Others), By End-Use Industry (Oil & Gas, Shipbuilding, Infrastructure, Industrial Markets, Energy, Transport, Others), And By Geography - Forecasts From 2023 To 2028

The anti-corrosion coatings market is a rapidly growing industry that offers protective coatings to various materials, such as metal, concrete, and other substrates, to prevent corrosion and degradation. Corrosion is a natural process that occurs when materials are exposed to the environment, including moisture, chemicals, and other pollutants, and can result in significant damage and loss of functionality. Anti-corrosion coatings are designed to provide a barrier between the material and the surrounding environment, protecting it from corrosion and other forms of degradation. These coatings are available in a wide range of formulations, including epoxy, polyurethane, acrylic, and others, and can be applied through a variety of methods, such as spray, brush, or dip.

The anti-corrosion coatings market is driven by increasing government regulations and focuses on sustainability and eco-friendliness.

Increasing government regulations- Governments around the world are introducing regulations to reduce the environmental impact of corrosion. This has led to the adoption of anti-corrosion coatings in various industries to comply with these regulations and reduce their carbon footprint. The U.S. Environmental Protection Agency (EPA) has introduced regulations such as the Clean Air Act and the Clean Water Act that mandate the use of anti-corrosion coatings in various industries to reduce environmental pollution. Similarly, the European Union (EU) has introduced regulations such as the REACH regulation that restrict the use of certain chemicals in coatings to protect human health and the environment.

Focus on sustainability and eco-friendliness- There is a growing focus on sustainable and eco-friendly coatings that can protect assets from corrosion without harming the environment. This has led to the development of new formulations and technologies that are more sustainable and less toxic. The U.S. Department of Energy (DOE) has introduced the Industrial Technologies Program, which aims to promote the use of sustainable coatings that are less toxic and more environmentally friendly. Similarly, the EU has introduced the European Green Deal, which aims to reduce carbon emissions and promote sustainable growth through the use of eco-friendly coatings.

Recent developments.

In November 2021, IGL Coatings launched a new product, Ecoclear Aegis, a graphene-reinforced anti-corrosion clear coating. Ecoclear Aegis is a transparent and eco-friendly solution that provides protection against atmospheric corrosive conditions (C5) while enabling early detection of corrosion due to its clarity. The use of graphene nanotubes in the coating enhances its strength and resistance to corrosion, making it durable and effective for up to 7.5 years in a marine environment. Additionally, Aegis is free from toxic metals, making it safer for applicators during the application process.

In March 2022, Acotec, a Belgian anti-corrosion coating manufacturer, unveiled Humidur WF22, a range of coatings specially designed to meet the needs and challenges of the wind turbine industry. The coating provides durable protection against aggressive humidity and seawater exposure, UV radiation, and light reflections from weather and sea. Humidur WF22 is based on Humidur, an environmentally friendly anti-corrosion coating used in the marine, offshore, energy, oil & gas, and petrochemical industries, proven to work on the entire structure over several decades, offering over 35 years of protection in highly corrosive environments. Humidur WF22 has no negative impact on the sediment, fauna, and flora in and out of the water and cures underwater without leaching, even at freezing temperatures, making it a sustainable and environmentally friendly anti-corrosion coating.

In June 2021, Greenkote, a worldwide supplier of advanced anti-corrosion metal coatings, unveiled a unique proprietary coating, namely the Greenkote G5k. The coating provides a minimum of 5000 hours of corrosion protection in salt spray testing for metals, which satisfies the ASTM Specification B117. The high-performance coating is aimed for anti-corrosion applications in marine and coastal environments, as well as many automotive and industrial uses that expose metal parts to wetness or harsh chemicals for prolonged periods. The coating process does not employ any hazardous chemicals or generate any toxic byproducts, thus making it ecologically friendly, RoHS compliant, and devoid of environmental regulations.

Based on application, the anti-corrosion coatings market is expected to witness positive growth in the water-based segment.

Water-based anti-corrosion coatings have been gaining popularity due to their eco-friendliness and low VOC emissions, making them a preferred choice for a wide range of industrial applications. These coatings are used to protect metal surfaces against corrosion caused by exposure to moisture, saltwater, and other harsh environments. Additionally, the water-based anti-corrosion coatings market is expected to grow significantly due to the increasing demand from various end-use industries such as automotive, construction, marine, and industrial.

Asia Pacific accounted for a significant share of the anti-corrosion coatings market.

Based on geography, the anti-corrosion coatings market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The Asia Pacific region is expected to be the fastest-growing anti-corrosion coatings market during the projected period due to the rapid industrialization and infrastructure development in the region. The growing demand from the oil and gas, marine, and construction industries is driving the market in countries like China, India, Japan, and South Korea. Additionally, the Asia Pacific region has witnessed increasing government initiatives for environmental protection, which have led to the development of eco-friendly anti-corrosion coatings. 

Key Market Segments

• By Type

• • Acrylic
  • Alkyd
  • Polyurethane
  • Epoxy
  • Zinc
  • Others
•  By Application

• • Solvent-based
  • Water-based
  • Powder
  • Others
• By End-Use Industry

• • Oil & Gas
  • Shipbuilding 
  • Infrastructure 
  • Industrial Markets
  • Energy
  • Transport
  • Others
• By Geography

• North America

• • USA
  • Canada
  • Mexico

• South America

• • Brazil
  • Argentina
  • Others

• Europe

• • Germany
  • France
  • United Kingdom
  • Spain
  • Others

• Middle East and Africa

• • Saudi Arabia
  • UAE
  • Israel
  • Others

• Asia Pacific

• • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Thailand
  • Taiwan
  • Others

1.   INTRODUCTION

1.1.  Market Overview

1.2.  Market Definition

1.3.  Scope of the Study

1.4.  Market Segmentation

1.5.  Currency

1.6.  Assumptions

1.7.  Base, and Forecast Years Timeline

2.   RESEARCH METHODOLOGY

2.1.  Research Data

2.2.  Assumptions

3.   EXECUTIVE SUMMARY

3.1.  Research Highlights

4.   MARKET DYNAMICS

4.1.  Market Drivers

4.2.  Market Restraints

4.3.  Porter’s Five Force Analysis

4.3.1.    Bargaining Power of Suppliers

4.3.2.    Bargaining Power of Buyers

4.3.3.    Threat of New Entrants

4.3.4.    Threat of Substitutes

4.3.5.    Competitive Rivalry in the Industry

4.4.  Industry Value Chain Analysis

5.   ANTI-CORROSION COATINGS MARKET ANALYSIS, BY TYPE

5.1.  Introduction

5.2.  Acrylic

5.3.  Alkyd

5.4.  Polyurethane

5.5.  Epoxy

5.6.  Zinc

5.7.  Others

6.    ANTI-CORROSION COATINGS MARKET ANALYSIS, BY APPLICATION

6.1.  Introduction

6.2.  Solvent-based

6.3.  Water-based

6.4.  Powder

6.5.  Others

7.   ANTI-CORROSION COATINGS MARKET ANALYSIS, BY END-USER INDUSTRY

7.1.  Introduction

7.2.  Oil & Gas

7.3.  Shipbuilding 

7.4.  Infrastructure 

7.5.  Industrial Markets

7.6.  Energy

7.7.  Transport

7.8.  Others

8.   ANTI-CORROSION COATINGS MARKET ANALYSIS, BY GEOGRAPHY

8.1.  Introduction

8.2.  North America

8.2.1.    USA

8.2.2.    Canada

8.2.3.    Mexico

8.3.  South America

8.3.1.    Brazil

8.3.2.    Argentina

8.3.3.    Others

8.4.  Europe

8.4.1.    Germany

8.4.2.    France

8.4.3.    United Kingdom

8.4.4.    Spain

8.4.5.    Others

8.5.  Middle East And Africa

8.5.1.    Saudi Arabia

8.5.2.    UAE

8.5.3.    Israel

8.5.4.    Others

8.6.  Asia Pacific

8.6.1.    China

8.6.2.    Japan

8.6.3.    India

8.6.4.    South Korea

8.6.5.    Indonesia

8.6.6.    Thailand

8.6.7.    Taiwan

8.6.8.    Others

9.   COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1.  Major Players and Strategy Analysis

9.2.  Emerging Players and Market Lucrativeness

9.3.  Mergers, Acquisition, Agreements, and Collaborations

9.4.  Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1.   The Sherwin-Williams Company.

10.2.   Axalta Coating Systems, Ltd.

10.3.   Hempel Group

10.4.   BASF SE

10.5.   RMP International

10.6.   Kansai Paint Co., Ltd.

10.7.   AkzoNobel N.V.

10.8.   Jotun

10.9.   Ashland Inc.

10.10.  PPG Industries, Inc. 

The Sherwin-Williams Company.

Axalta Coating Systems, Ltd.

Hempel Group

BASF SE

RMP International

Kansai Paint Co., Ltd.

AkzoNobel N.V.

Jotun

Ashland Inc.

PPG Industries, Inc.