Global Anti-corrosion Coatings Market Overview, 2024-29

Global Anti-corrosion Coatings Market Overview, 2024-29

The anti-corrosion coating market consists of the manufacture and application of different coatings and treatments developed to prevent or reduce corrosion on metal surfaces. Corrosion a material degradation by chemical reaction with the environment has huge effects on infrastructure, plant machinery, and equipment. On the other hand, cathodic protection entails the application of a negative electrical charge over metal surfaces to prevent them from corrosion, and electroplating is a process deposits a layer of metal onto a surface, providing a protective barrier against corrosion. Advances in nanotechnology lead to ultra-thin, high-performance coatings with improved barrier properties. High-performance nanocoatings provide improved corrosion resistance without increasing the profile. Growing interest is currently taken in bio-based coatings derived from renewable resources that hope to minimize the ecological footprint of anti-corrosion products while ensuring performance. It will be possible through integration with sensors and digital technology to monitor corrosion in real-time. Smart coatings can provide data that will be extremely useful in predictive maintenance and, more importantly, provide advance warnings of incipient corrosion problems. The anti-corrosion coating industry is rapidly embracing green chemistry in order to limit the usage of hazardous materials and lessen its impact on the environment. This includes the development of low-VOC and water-based coatings that are friendlier to the user and the environment. Improving coating material recycling and wastes from the production and application processes are underway. The ways of waste management through reutilization of materials become crucial with sustainable practices. International standards ISO and ASTM have a huge bearing on access to markets and product acceptance as this makes compliance imperative. This includes adherence to local regulations regarding the same. The product quality and safety vary across various regions under different standards.

According to the research report, “Global Anti-Corrosion Coating Market Overview, 2029” published by Bonafide Research, the market is anticipated to cross USD 42 Billion by 2029, increasing from USD 31 Billion in 2023. The market is expected to grow with a 5% CAGR from 2024 to 2029. Fast urbanization and industrial growth in developing economies, especially in the Asia-Pacific and African regions, offer huge potential for anti-corrosion products. These regions have been investing heavily in infrastructure, which acts as a driver for the demand for corrosion protection solutions. Growth rates vary by region. For instance, the highest growth rate in the region is witnessed in the Asia-Pacific countries due to rapid industrialization and infrastructure projects, whereas North America and Europe will continue creating demand as a result of stringent regulations and advanced technologies. Advanced anti-corrosion technologies, such as nanotechnology and smart coatings, are of high cost as therefore, it could not be afforded by smaller companies and developing markets. This somehow sets a limit to the adoption and growth in price-sensitive segments. Changes in prices of raw materials, such as zinc and titanium, impact production costs and the stability of the anti-corrosion coating market. New material development, such as graphene and advanced polymers, is creating higher-performance coating materials. These materials have better resistance in extreme environmental conditions and give protection that will last longer. The market has seen growth in the development of cost-effective anti-corrosion solutions that do not come at the cost of performance. Again, this trend is driven by the need to have more reasonable priced protection across more price-sensitive industries and regions. Growth in key industrial sectors, such as oil & gas, marine, automotive, and aerospace, creates a constant demand for anti-corrosion products to protect equipment and structures from corrosion.

Market Drivers

• Aging Global Infrastructure: As infrastructure worldwide reaches the end of its lifecycle, the global anti-corrosion coating market is driven by the urgent need to repair and maintain aging assets. Bridges, pipelines, water systems, and industrial plants built decades ago are increasingly susceptible to corrosion. With governments and private sector stakeholders recognizing the high costs of infrastructure failures, there is a surge in demand for advanced anti-corrosion coatings and technologies that can extend the life of these critical assets. This driver is particularly strong in developed regions where much of the infrastructure was constructed in the post-World War II era.
• Expansion of Renewable Energy Projects: The global push towards renewable energy sources, such as wind, solar, and hydroelectric power, is driving demand for anti-corrosion solutions. These renewable energy infrastructures, often located in harsh environments like offshore wind farms or deserts, are highly susceptible to corrosion. As investment in renewable energy projects grows, so does the need for robust corrosion protection to ensure the longevity and efficiency of these installations. This driver is fueled by both environmental sustainability goals and the economic imperative to protect large-scale investments in clean energy.

Market Challenges

• Regional Disparities in Technology Access: A significant global challenge is the disparity in access to advanced anti-corrosion technologies between developed and developing regions. While cutting-edge solutions are available in wealthy nations, many developing countries struggle with outdated methods that offer limited protection. This technology gap not only affects the efficiency and effectiveness of corrosion prevention but poses risks to infrastructure safety in regions unable to afford or access modern solutions. Bridging this gap requires international cooperation, technology transfer initiatives, and investment in local expertise.
• Increasing Complexity of Corrosion Mechanisms: As industries evolve and new materials are developed, the mechanisms of corrosion are becoming increasingly complex. This complexity challenges the global anti-corrosion coating market as traditional coatings and methods not be sufficient to address the unique corrosion issues associated with new alloys, composites, and advanced manufacturing processes. The need to develop specialized, multi-functional coatings that can protect against these diverse corrosion processes requires significant R&D investment and expertise, making it difficult for some market players to keep pace with the rapid advancements in material science.

Market Trends

• Integration of Smart Coatings and Sensors: A notable trend in the global anti-corrosion coating market is the integration of smart coatings embedded with sensors that monitor the onset of corrosion in real-time. These advanced coatings can detect changes in environmental conditions, such as pH levels, humidity, and temperature, and provide early warnings of corrosion, allowing for proactive maintenance. This trend is particularly important in industries like aerospace, oil and gas, and infrastructure, where the costs of corrosion-related failures can be catastrophic. The development and adoption of these smart systems are reshaping the market by enabling more precise and efficient corrosion management.
• Shift Toward Sustainable and Bio-Based Coatings: The global anti-corrosion coating market is witnessing a shift toward sustainable and bio-based coatings as environmental concerns and regulations intensify. Companies are increasingly developing coatings derived from renewable resources, such as plant-based polymers, which offer reduced environmental impact without compromising performance. This trend is driven by both regulatory pressures and consumer demand for eco-friendly products, leading to the rise of green chemistry in the coatings industry. The focus on sustainability is not only reshaping product portfolios but driving innovation in the development of new, environmentally responsible corrosion protection solutions.

The oil and gas segment of the anti-corrosion coating market worldwide grows due to its increased demand for higher-value corrosion protection solutions to help retain the integrity and extend the life of aged infrastructure and new assets, operating in challenging environments.

The high-temperature/high-pressure operation conditions, exposed to corrosive hydrogen sulfide, carbon dioxide, and saline water, are quite abusive to metallic components. The quest for proper anti-corrosion measures will intensify as existing infrastructure ages and new projects are developed in the more challenging environments of deepwater, Arctic, and sour gas fields. Advanced corrosion protection solutions in terms of protective coatings and cathodic protection systems, corrosion inhibitors, and monitoring technologies are an indispensable barrier to the prevention of equipment failures, reduction of time losses, and maintenance costs that go along with them. In addition, stringent regulatory requirements and industry standards set by the oil and gas sector toward safety, environmental protection, and operational efficiency have been the impetus for oil and gas companies to pay more attention to strong anti-corrosion strategies. The adoption of innovative technologies, such as smart coatings, real-time corrosion monitoring systems, and the use of data analytics, is increasingly being used in the industry to help operators become more proactive in the management of corrosion risk and optimize the performance of assets.

The versatility in application and superior performance characteristics of polyurethane offer growth impetus to the global anti-corrosion coating market.

In the global anti-corrosion coating market, increasingly prominent is polyurethane. Because of its unique properties that so ideally adapt it to a host of industries, it is finding ever-widening application. The versatile material has demonstrated excellent resistance to chemicals, abrasion, and impact, while offering very good flexibility and durability. These features allow polyurethane coatings to bear very aggressive environmental conditions that include extreme temperatures, UV radiation, and water exposure, making them suitable for protective systems of surfaces that operate in aggressive industrial and marine environments. In addition, the adhesion of polyurethane coatings to a wide range of substrates, including metals, concrete, and plastics, is very good and, therefore, supportive of their anticorrosive performance in relevant applications. The ability of the material to be formulated into single- and two-component systems gives options for application methods, thus meeting diversified project requirements and environmental conditions. Technological advances in polyurethane have resulted in low-VOC and water-based formulations that respond to growing environmental concerns and pressures from regulatory agencies. This environmentally friendly factor has greatly enhanced the attractiveness of polyurethane in markets subject to strict environmental regulations. It has a long service life and low maintenance cost, which reduces life-cycle costs and makes the material very attractive for large infrastructural and industrial projects. In addition, manufacturers can expand the reach of polyurethane in the marketplace because the material can be tailored for specific performance attributes, such as improved chemical resistance or enhanced UV stability for special niche applications.

The growth of water-based anti-corrosion coatings in the global market is the rising focus on sustainability and compliance with strict environmental laws.

The global trend towards sustainability is highly instrumental in shifting focus towards water-based anti-corrosion coatings. Increased environmental awareness literally leaves industries with no choice but to use practices that have the least possible negative impact on the environment. Water-based coatings have been well embraced because they contain fewer volatile compounds, proven detrimental to human health and the environment. While this can be looked at as a trend, it is more of a response to the ever-increasing regulations from governments around the world seeking to manage their emission levels and ensuring that safer alternatives have been looked at. For instance, a great number of countries have introduced legislation that restricts the use of high-VOC products while in turn compelling manufacturers to reformulate their products. In an instance, it resulted in consumers demanding more environmentally friendly products, thus compelling these companies to make innovative measures and investments in sustainable technologies. Advantages in resin and additive technologies enhance the performance of water-borne coatings to become much more competitive against traditional solvent-borne options. Such innovations are giving water-borne coatings the opportunity to realize properties so far reserved for solvent-borne formulations, such as durability and adhesion. Thus, now water-borne coatings find applications in a myriad of uses where direct-to-metal coatings become crucial, like in automotive and construction. Added to these are the economic advantages that waterborne coatings bring with them. They are usually lower in terms of insurance costs since they pose less of an explosion hazard and are generally easier to handle, thereby reducing labor costs when being applied. The reduced odors of these coatings make workplace conditions more tolerable and hence make the area more conducive to workers and, correspondingly, to any employer.

The Asia Pacific region is going through rapid industrialization and infrastructure development, again making it the fastest-growing market for anti-corrosion coatings.

The APAC region, driven by countries like China, India, Japan, and South Korea, is likely to see surging demand for anti-corrosion coatings due to booming industrial and construction sectors. In China, rapid urbanization has lent considerable support to the growth of industries such as construction, chemicals, and power generation, thereby driving the anti-corrosion coatings market. It is expected that changing industry trends will be accountable due to increased investments in the construction, marine, and energy sectors in China and India. It is envisioned that this rising demand from the automotive, construction, and manufacturing sectors along with increasing activity in the shipping industry will mainly drive up the demand for corrosion protection solutions in this region. Government rules and regulations of the APAC countries are likely to promote anti-corrosion coatings consumption across various industries. The requirement for quality infrastructure in the emerging markets, like India and China, has been acting as the main driving factor over the past few years. The investments in the form of foreign direct investments in the emerging markets like India will continue boosting the growth. Environmental regulations and sustainable practices in this region have resulted in an upward trend for high-tech anti-corrosion coatings. The oil and gas industry is one of the largest consumers of anti-corrosion coatings in the APAC region. Pipelines, drilling rigs, refineries, and storage tanks would be an excellent example of asset management that calls for effective corrosion protection. Another big driver of demand for anti-corrosion coatings is the water and wastewater industries, particularly in the countries of the Middle East and Asia-Pacific, where demand is seen for more efficient and less hazardous coating materials.

• In May 2024, Axalta Coating Systems introduced the Alesta BioCore range of powder coatings made from non-food organic waste, reducing CO2 emissions by up to 25% without compromising performance.
• In October 2023, PPG introduced GLADIATOR XC Matte Extreme coating for various industries for offering high-quality, low-gloss urethane protection for different applications.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Anti-Corrosion Coating market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By End Users
• Construction and Infrastructure
• Oil and Gas
• Industrial
• Marine
• Energy and Power
• Automotive
• Others (Including Aerospace, Defense, etc.)

By Type
• Epoxy
• Acrylic
• Alkyd
• Polyurethane
• Zinc
• Others (Including Fluoropolymer, Ceramic, etc.)

By Technology
• Solvent-based
• Water-based
• Powder coatings
• Others (UV-cured, etc.)

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Anti-Corrosion Coating industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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