Research And Development Activities Will Provide Many Opportunities For The Anticorrosion Coatings Market
According to MarketIntelReports' “Anticorrosion Coatings Market : By Base Material (Epoxy, Alkyd, Acrylic, Urethanes, Vinyl And Others); By Applications (Oil & Gas, Marine, Energy And Power, Construction And Infrastructure, Automotive, Aerospace And Others), By Geography- Forecast 2016-2021”:
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The protective coating is applied on the surface to protect it from corrosion. Metals like Zinc and Titanium are the raw materials used in the production of corrosion protection.
The characteristics of this coating are chemical resistance, light weight, abrasion resistance and gloss retention. The application of the Anticorrosion Coatings Market includes building and construction, automotive, electronics, and industrial machinery.
Building and construction is a dominant segment in the market. Anti rust ensures that the metal components used in many applications have a long life span.
Scope & Regional Forecast of the Anticorrosion Coatings Market
Increasing investment in infrastructure in developing countries will strengthen the growth of the market. Rise in the economic losses due to corrosion of structures will also drive the demand for high performance coatings.
The high growth in the automotive market provides many opportunities for the market. But the raw materials used in the production of anticorrosion coatings cause health problems.
These dangers have led to the increase in government regulations which can hamper the growth of anti rust solution.
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Asia Pacific had a major share in the Anticorrsion Market in 2013. This trend will continue till 2020.
The fastest growing economies in Asia Pacific include China and India. China is the largest producer of anticorrosive paints.
North America is the second largest region followed by Europe. Anticorrosive paints in North America will have a slow growth.
The demand for anti corrosion steel is fuelled by innovation. There is a lot of competition among the major players through research and development activities.
The increase in environmental regulations have boosted the R&D activities. Marine segment is the prominent end user for the anticorrosion coatings for protecting ships and marine vessels with metal hulls.
The coatings improve the aesthetic appearance of the vessels.
Segmentations & Key Players Involved in the Anticorrosion Coatings Market
The Anticorrosion Coatings Market be broken down into various segments as follows:
- Types of services- Epoxy, Alkyd, Acrylic, Urethanes, Vinyl, and Others.
- Application- Oil & Gas, Marine, Energy and Power, Construction and Infrastructure, Automotive, Aerospace, and Others.
- Region- Americas, Asia Pacific, Rest of the world.
Some of the key players involved in the Anticorrosion Market are as follows:
- AkzoNobel N.V
- PPG Industries Inc
- Sherwin Williams Co
- RPM International Inc
- Hempel A/S
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