Global Corrosion Protective Coatings Market

Corrosion Protective Coatings and Acid Proof Lining Market: Marine Application to Witness Significant Growth; Global Industry Analysis and Forecast 2015-2025

Introduction

Corrosion protective coatings are used by industries worldwide to protect their products from degradation, most commonly caused by moisture, salt spray, oxidation and a number of chemical-based occurrences that can prove harmful to metals and alloys.

The mechanisms by which corrosion protective coatings work can be generally differentiated into three, namely, creation of barriers between the environment and the substrate material, inhibition of the corrosion processes and coatings acting as sacrificial materials.

Zinc and titanium dioxide compounds are essential ingredients in corrosion protective coatings and the overall paints and coatings industry.

corrosion-protective-coatings-acid-proof-lining-market

Market Value and Forecast

The global corrosion protective coatings & acid proof lining market is anticipated to expand at a healthy CAGR during the forecast period. This growth is mainly driven by rising demand from various end-use industries, advancements in coating technologies, strengthening of global economies and low competitive pressure due to fast-growing demands. Other trends driving growth of this market include increasing shift from solvent-borne technology to waterborne technology and increasing investments by key players in developing regions.

Segmentation by Product Type

On the basis of product type, the corrosion protective coatings market is segmented into polymer coatings and rubber lining systems, while the acid proof lining market is segmented into ceramic & carbon brick lining, tile lining and thermoplastic lining. Polymer coatings segment in the corrosion protective coatings market accounted for a value share of 64.4% in 2014, which is projected to increase to 66.5% by 2025. The ceramic & carbon brick lining segment in the global acid proof lining market is projected to exhibit the highest CAGR of 5.5% over the forecast period (2015–2025).

Segmentation by Technology

On the basis of technology, the global corrosion protective coatings market is segmented into solvent-borne, waterborne and powder-based. Among these, waterborne technology segment is expected to exhibit the highest CAGR of 5.7% over the forecast period.

Segmentation by End-use Industry

On the basis of end-use industry, the global corrosion protective coatings & acid proof lining market has been segmented into marine, oil & gas, power generation, construction, automotive, transportation, chemicals, mining & metallurgy and others. The marine segment accounted for over 21.0% market value share in 2014, and is expected to register a CAGR of 5.7% over the forecast period. However, the segment is expected account for 20.0% by 2025 and lose its dominance to the construction industry segment, which is projected to account for 20.1% in the same year.

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Key Regions

Asia Pacific dominated the global corrosion protective coatings & acid proof lining market with over 36.3% market share in 2014 and is anticipated to retain its dominance through 2025, followed by North America and Western Europe. Among all regions, Asia Pacific is anticipated to register the highest CAGR over 2015–2025, followed by North America, due to the rapid growth of various end-use industries within these regions.

Key Players

Key players in the global corrosion protective coatings & acid proof lining market include BASF Coatings GmbH, PPG Industries Inc., The Sherwin Williams Company, Ashland Inc., Axalta Coatings Ltd., Hempel A/S, International Paint Limited and Jotun A/S. Major participants are focusing on R&D activities to provide innovative and environment-friendly products to attain sustainability.

Report Synopsis

The Future Market Insights (FMI) study offers a 10-year (2015-2025) forecast for the global corrosion protective coatings & acid proof lining market. The market is expected to register a CAGR of 6.2% by value over the forecast period. The study analyses market dynamics and trends in the seven regions that influence the current nature and future status of corrosion protective coatings and acid proof lining over the forecast period.

Report Description

This FMI report examines the global corrosion protective coatings & acid proof lining market for 2015-2025. The primary objective is to offer updates on advancements in coating technologies and innovation in corrosion coatings and acid proof lining systems that have given rise to high demand for both corrosion protective coatings and acid proof lining systems.

Corrosion protective coatings are used by industries worldwide to protect their products from degradation, most commonly caused by moisture, salt spray, oxidation and a number of chemical-based occurrences that prove harmful to metals and alloys.

The mechanisms by which corrosion protective coatings work can be generally differentiated into three, namely, creation of barriers between the environment and the substrate material, inhibition of the corrosion processes and coatings acting as sacrificial materials.

Zinc and titanium dioxide compounds are essential ingredients in corrosion protective coatings and the overall paints and coatings industry.

In the section that follows, the report covers the corrosion protective coatings & acid proof lining market performance in terms of revenue split in order to provide in-depth analysis of the market. This section also includes FMI’s analyses of key trends, drivers and restraints from supply, demand and economy sides that are influencing the global corrosion protective coatings & acid proof lining market. Impact analysis of key growth drivers and restraints, based on the weighted average model, is included in the report to better equip and arm clients with crystal clear decision-making insights.

The next section of the report highlights adoption of corrosion protective coatings and acid proof lining by regions. It provides market outlook for 2015-2025 and sets the forecast within the context of the corrosion protective coatings & acid proof lining market ecosystem. This study discusses key regional trends contributing to growth of the corrosion protective coatings & acid proof lining market on a worldwide basis, as well as analyses the degree to which global drivers are influencing this market in each region. Key regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan as a separate region and Middle East and Africa (MEA).

All the above sections-by end-use industry, by product type, by technology and by region-evaluate the present scenario and growth prospects of the global corrosion protective coatings market for 2015 - 2025. We have considered 2014 as the base year and provided data for all 12 months of the year. 

To calculate the corrosion protective coatings & acid proof lining market size, we have considered revenue generated from the sale of corrosion protective coatings and acid proof lining as well as adoption of services. The forecast presented here assesses the total revenue by value across the corrosion protective coatings & acid proof lining market. In order to offer an accurate forecast, we have started by sizing the current market, which forms the basis of how the corrosion protective coatings & acid proof lining market will develop in the future. Given the characteristics of the market, we triangulated the outcome of three different types of analyses based on supply side, consumer spending and economic envelope. However, forecasting the market in terms of various corrosion protective coatings & acid proof lining market segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only forecast in terms of CAGR but also analyse the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the corrosion protective coatings & acid proof lining market.

As previously highlighted, the corrosion protective coatings market & acid proof lining market is split into a number of sub-segments. All the corrosion protective coatings & acid proof lining market sub-segments in terms of product type, technology and regions are analysed in terms of Basis Point Share (BPS) to understand individual segment’s relative contribution to market growth. This detailed level of information is important for the identification of various key trends of the corrosion protective coatings & acid proof lining market.  

Also, another key feature of this report is the analysis of all key corrosion protective coatings & acid proof lining market segments, sub-segments and regional adoption as well as forecast of revenue in terms of absolute dollar. Absolute dollar opportunity is traditionally overlooked while forecasting the market; however, it is critical in assessing the level of opportunity that a provider can look to achieve and identifying potential resources from a sales and delivery perspective in the global corrosion protective coatings & acid proof lining market. 

Furthermore, to understand key growth segments in terms of growth and adoption of corrosion protective coatings & acid proof lining market across regions, FMI has developed the corrosion protective coatings & acid proof lining market attractiveness index. The resulting index should help providers identify real market opportunities.

In the final section of the report, competitive landscape of the corrosion protective coatings & acid proof lining market is included to provide report audiences with a Dashboard view, based on categories of providers in the value chain, product portfolio related to corrosion protective coatings and acid proof lining market and key differentiators. Key categories of providers covered in the report are corrosion protective coatings and acid proof lining manufacturers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the corrosion protective coatings & acid proof lining market value chain. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on in-depth assessment of capabilities and success in the corrosion protective coatings & acid proof lining market. Detailed profiles of the providers are also included in the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the corrosion protective coatings & acid proof lining market. Key players include BASF Coatings GmbH, PPG Industries Inc., The Sherwin Williams Company, Ashland Inc., Axalta Coating Ltd., International Paint Limited, Hempel A/S and Jotun A/S.

Key Segments Covered

  • By End-use Industry
    • Marine
    • Oil & gas
    • Power generation
    • Construction
    • Automotive
    • Transportation vehicles
    • Chemicals
    • Mining & metallurgy
    • Others
  •  By Product Type
    • Corrosion Protective Coatings Market
      • Polymer coatings
      • Rubber lining systems
    • Acid Proof Lining Market
      • Ceramic & carbon brick lining
      • Tile lining
      • Thermoplastics lining
  • By Technology
    • Solvent-borne
    • Waterborne
    • Powder-based

Key Regions/Countries Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia-Pacific Excluding Japan (APEJ)
  • Middle East & Africa

Key Companies

  • BASF Coatings GmbH
  • PPG Industries Inc.
  • The Sherwin-Williams Company
  • Ashland Inc.
  • Axalta Coatings Inc.
  • Hempel A/S
  • International Paint Limited
  • Jotun A/S
  • Steuler-KCH GmbH
  • TIP TOP Oberflächenschutz Elbe GmbH
  • Koch Knight LLC