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Corrosion Protection Polymer Coating Market

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Companies
Industry Size (2022)
USD 19.5 Bn
CAGR (2022 to 2032)
6.2%

Introduction

According to Future Market Insights, the global market for corrosion protection polymer coatings is anticipated to register a steady CAGR over the forecast period, 2022 to 2032. Towards the end of 2022, the global corrosion protection polymer coating market is anticipated to rake more than USD 19.5 Billion in revenues. In terms of production and end-use, the Asia-Pacific excluding Japan (APEJ) region is poised to remain the largest market for corrosion protection polymer coatings in the near future.

Demand for Epoxy Coatings to Dwindle through 2022

In 2022, epoxies will be observed as the largest product being sold in the global corrosion protection polymer coating market. Despite their sales accounting for nearly two-fifth share on global revenues, the demand for corrosion protection epoxy coatings is expected to plummet towards the latter half of the forecast period. The report projects that epoxies will reflect a sluggish CAGR of 4.2% during the forecast period.

On the other hand, vinyl esters & flake-filled vinyl esters will register impressive growth in terms of global demand. However, these products are anticipated to contribute a little over 3% share on global revenues by the end of 2022. Meanwhile, fluoropolymer coatings are poised to record fastest growth in terms of revenues, while acrylic coatings and alkyd coatings will register similar CAGRs through 2032. 

Increasing End-use in Oil & Gas industry

As the global oil and gas sector strives to gain stability in the midst of erratic oil price fluctuations, it continues to boost the need for effective corrosion protection coatings made of polymers. The end-use of corrosion protection polymer coatings in oil & gas companies is expected to rev up in the near future. These coatings are anticipated to be integrated as key materials used for covering all kinds of industrial surfaces; from oilfield pipelines to refineries.

Corrosion protection polymer coatings sold in the oil & gas industry will translate a subpar share on revenues of the global market, but these revenues are anticipated to record fastest growth compared to other end-user industries.

By the end of 2022, the end-use of corrosion protection polymer coating in oil & gas industry is anticipated to rake revenues worth nearly USD 3 Billion. To the contrary, transportation and mining & metallurgy end-uses of corrosion protection polymer coatings will record a sluggish growth, compelling manufacturers to shift their focus accordingly.

Powdered Corrosion Protection Polymer Coatings to Lose Traction

On the basis of form, powdered corrosion protection polymer coatings are anticipated to incur a considerable decline in the global market. Production of powder-based corrosion protection polymer coatings continues to remain conventionally difficult, compared to other forms, and manufacturers are also facing challenges in terms of their end-uses. These coatings involve intrinsic workmanship while applying them on hard spots and isolated industrial surfaces.

Moreover, powder-based corrosion protection polymer coatings cannot be mixed with additives, and their shortcoming in providing upgraded resistance against chemical abrasion is expected to lower their demand. Between 2017 and 2022, powder-based corrosion protection polymer coatings are anticipated to create an incremental opportunity of not more than USD 652 Million in the global market.

Competition Tracking

Key players partaking in the growth of global corrosion protection polymer coating market are profiled in the report. Companies namely, Polycorp Limited, Koch Knight LLC, STEULER - KCH GmbH, Akzo Nobel NV, Jotun A/S, Axalta Coating Systems, Ashland Global Holdings, Inc., The Sherwin Williams Company, PPG Industries, Inc., and BASF Coating GmbH are anticipated to remain active in expansion of global corrosion protection polymer coating market through 2022.

A majority of these companies are anticipated to focus on enhancing their production techniques to lower the adverse imprint of corrosion protection polymer coating manufacturing on global environment.

Market Taxonomy

A concise taxonomy of the global corrosion protection polymer coating market has been summarized below:

Region :

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • MEA

Product Type :

  • Epoxy
  • Polyurethane
  • Alkyd
  • Acrylic
  • Fluoropolymer
  • Vinyl Ester & Flake-filled Vinyl Ester

End Use :

  • Marine
  • Oil and Gas
  • Power Generation
  • Construction
  • Automotive
  • Transportation
  • Chemicals
  • Mining & Metallurgy
  • Others

Form Type :

  • Solvent-borne
  • Waterborne
  • Powder-based

Frequently Asked Questions

At what rate will corrosion protection polymer coating market grow from 2022 to 2032?

The corrosion protection polymer coating market is expected to grow at an 6.2% CAGR from 2022 to 2032

What is the expected market value for the corrosion protection polymer coating market in 2022?

By 2022, corrosion protection polymer coating sales are anticipated to rank more than USD 19.5 Billion during the forecast period.

Which are some leading players in the corrosion protection polymer coating market?

Polycorp Limited, Koch Knight LLC, and STEULER - KCH GmbH, are some leading corrosion protection polymer coating manufacturers in the market.

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Future Market Insights

Corrosion Protection Polymer Coating Market