Anti-corrosion coating protects the metal substrate from humidity, moisture, salt water, oxidation, and industrial chemicals. Anti-corrosion coating acts as a barrier between metal and corrosive material and provides an extra layer of protection to metal surfaces. Few of the anti-corrosion coating chemicals also provide abrasion resistance, and non-stick performance.
Rising demand for anti-corrosion coating material to avoid industrial losses occurred by corrosion in many end use industries is one of the major factor driving growth of the global anti-corrosion coatings market. In addition, increasing adoption of anti-corrosion coating material by various sectors such as power generation, healthcare, automotive, etc. is further boosting demand for anti-corrosion coating material. This is another factor propelling growth of the global anti-corrosion coatings market.
Stringent government regulations towards emission of volatile gases while manufacturing of anti-corrosion coating material is a key factor restraining growth of the global anti-corrosion coatings market. In addition, volatile raw material price is further hampering growth of the global anti-corrosion coatings market.
Current trend observed in the market is use of epoxy coating in construction industry, owing to its higher performance in terms of durability and resistance as compared to other type of coating material. This trend is expected to further drive growth of the global anti-corrosion coatings market during the forecast period.
The global anti-corrosion Coatings market is segmented by type, by technology, by industrial application, by regions. On the basis of region, the global anti-corrosion coatings market in to North America, Europe, Asia Pacific, Latin America, And Middle East & Africa.
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The market in North America dominates the global anti-corrosion coatings markets in terms of revenue, owing to presence of major manufacturers. The market in Asia Pacific is expected to witness fastest growth and is projected to register a CAGR of X.X% during the forecast period. This can be attributed to increasing demand for anti-corrosion materials from automotive sector. The market in Middle East & Africa is expected to witness considerable growth with CAGR of X.X% over the forecast period owing to rising demand from oil & gas sector.
Key players in the global anti-corrosion coating market are 3M Co., Akzo Nobel N.V., The Dow Chemical Company, BASF SE, Hempel A/S, Kansai Paints Co., Ltd, Nippon Paints Co. Ltd., PPG Industries, Inc., The Sherwin-Williams Company, and Wacker Chemie AG.
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