Anti-Corrosion Coating Market Predicted to Reach USD 64 Billion by 2030, witnessing a CAGR of 8%

The global Anti-Corrosion Coating Market size is predicted to reach USD 64 billion by 2030, witnessing a CAGR of 8%.

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Anti-corrosion coatings ensure the durability and efficiency of the equipment by providing continuous protection layers to prevent it from corrosion and abrasion. These coatings hold wide applications in the aerospace & defense sector, building & construction sector, maritime industries, oil & gas industries, automotive & transportation sector, power generation industries, and other industry verticals as they offer superior structural strength, high heat resistance, protection against harmful UV radiations, lower coating costs as well as absolute ease-of-application.

The global anti-corrosion coating market observes lucrative growth due to factors such as increasing government initiatives to improve public infrastructures, favorable regulatory standards for products with low Volatile Organic Compound (VOC), rising awareness about eco-friendly products, as well as augmentation in residential and commercial projects.

Besides, market trends such as modernization of infrastructure, increasing losses due to corrosion, and growing demand for anti-corrosion coatings in the end-use industries are expected to supplement the growth of the global anti-corrosion coating market throughout the forecast period.

However, stringent environmental regulations towards the use of several aggressive chemicals, limitations of epoxy anti-corrosion coating, fluctuations in the cost of crude oil, and the high cost of raw materials may limit the growth of the global anti-corrosion coating market.

Asia-Pacific region is anticipated to grow, owing to the growing demand for anti-corrosion coating from the power generation industries, increasing demand for high-quality infrastructures, higher requirements for maintenance in automotive & transportation industries, as well as stringent government rules & regulations in this region.

A comprehensive competitive analysis and profiles of the major industry players such as BASF SE, 3M Co., Wacker Chemie AG, AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, The Dow Chemical Company, Hempel A/S, Kansai Paints Co., Ltd, Nippon Paints Co. Ltd., and others are provided in the anti-corrosion coating market report.