Augmented Reality Is The Fastest Growing Segment Fueling The Growth Of Corrosion Protective Coatings Market

 Corrosion protective coatings are surface treatments for metals and alloys used to prevent corrosion. They provide a barrier between the material and the environment. Corrosion protective coatings find widespread application on oil rigs, ships, tanks, pipelines and industrial machinery to extend their life

The global Corrosion Protective Coatings Market is estimated to be valued at US$25.25 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights

Market key trends:
Corrosion protective coatings are eco-friendly formulations gaining popularity. Strict environmental regulations are driving demand for coatings free from toxic heavy metals and volatile organic compounds (VOCs). Waterborne coatings utilize water as the carrier medium instead of organic solvents. They produce lesser emissions and odors making them suitable for confined industrial spaces. Advances in powder coatings technology allow for a 100% solids formulation eliminating the need for any solvent. Powder coatings can be electrostatically sprayed on diverse substrates providing durability and Finish. The technology is gaining adoption in industries like automotive and construction.

Segment Analysis

The global corrosion protective coatings market is segmented into product, technology, end use industry and region. Based on product, the market is divided into epoxy, polyurethane, acrylic, alkyd and others. Among these, the epoxy coatings segment holds the largest share in the market, owing to excellent properties such as strong adhesion, chemical resistance and moisture resistance. Epoxy coatings protect metal surfaces more effectively from corrosion compared to other chemistries.

Key Takeaways

The global corrosion protective coatings market analysis is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing infrastructure development activities globally.

The Asia Pacific region is expected to dominate the global corrosion protective coatings market over the forecast period. This is attributed to the presence of emerging economies such as China and India with increasing industrial and construction activities in the region. Furthermore, growing foreign investments for infrastructural projects in the countries are driving the demand for corrosion protective coatings in Asia Pacific.

Key players operating in the corrosion protective coatings market are The Sherwin Williams Company, Akzo Nobel NV, PPG Indsutries, Inc., The Sherwin-Williams Company, and Kansal Paint Co., Ltd. AkzoNobel dominates the global corrosion protective coatings market due to its strong product portfolio and wide distribution network across regions.

 Get more insights on this topic: https://www.newsstatix.com/corrosion-protective-coatings-market-industry-insights-trendscorrosion-protective-coatings-market-2023-2030/


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