Anticorrosion Coatings Market: Key Insights and Trends Gaining Significant Growth
United States of America– [30-OCT-2024]
This year, The Insight Partners made known the publishing of its most recent report on “Global Anticorrosion Coatings Market Analysis and Forecast 2022-2030″. The research presents a wide-ranging analysis of emergent anticorrosion coatings and their applications within various sectors. As a result of increasing asset protection and maintenance requirements in difficult environments, the market will experience growth over the years.
Global Overview of Anticorrosion Coatings
Growing anticorrosion coating markets globally are observed; major demand is attributed to industries in the oil and gas, marine, construction, and automotive sectors as asset owners look for protective treatmentss. Effective protection to enhance service life, avoid huge recurrent costs of maintenance through damage control, and allow functional operation are the main imperatives. The anticorrosion coatings market worldwide could gain US$ 38,175.87 million in 2030 while posting a CAGR of between 2022 and 2030 of 5.5%.
Recent Developments and Highlights of the Market
Some of the major trends contributing to growth in the anticorrosion coatings market are:
Industrialization is increasing rapidly with industrial activities and infrastructure development in developing economies, thus creating demand for anticorrosion solutions that are durable and effective.
Technological Advancements: Coating formulation developments include the development of green and high-performance coatings. This has enhanced the efficiency of anticorrosion products and complied with the requirements of regulatory authorities.
Growing Awareness of Asset Protection: The negative impacts of corrosion on assets have created an awareness in industries to treat anticorrosion coatings as a part of maintenance and operational strategies.
Market Segmentation of Anticorrosion Coatings
The report categorizes the anticorrosion coatings market into the following segments:
By Resin Type
• Epoxy
• Polyurethane
• Acrylic
• Alkyd
• Vinyl Ester
By Technology
• Solvent-Borne
• Water-Borne
By and End Use
• Marine
• Oil & Gas
• Power
• Automotive
• Building & Construction
• Aerospace & Defense
Regional Insights: North America is the present market leader, driven by established industries and strict asset protection regulations. However, this region is expected to have a high growth rate due to the increase in industrial activities and infrastructure investments in Asia-Pacific.
Competitive Landscape
The major players in the anticorrosion coatings market are RPM International Inc., The Sherwin Williams Co., Akzo Nobel NV, Jotun AS, PPG Industries Inc., 3M Co, The Progressive Center Co for Construction Chemicals Ltd, Nippon Paint Holdings Co Ltd, and BASF SE. Innovation, sustainability, and strategic partnerships help these companies make their product offerings more impressive and expand their market reach.
Conclusion
In conclusion, the anticorrosion coatings market is to witness significant growth since the industries are more or less realizing the value of their assets being preserved from corrosion. This report is thus critical and will be strategically helpful for any stakeholder looking to excel in this dynamic and constantly changing market landscape.
About The Insight Partners
The Insight Partners is one of the world’s premier market research and consulting firms. We are proud to provide exclusive reports and sophisticated strategic and tactical insights into the industries we cover. Our reports are generated through a mix of primary and secondary research, purely directed towards giving our clients a knowledge-based insight into the market and domain. This is to enable clients to make more informed business decisions. A holistic look at every study undertaken forms an integral part of our research methodology and, in turn, makes the report unique and reliable.
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