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(Transportation-News.com, June 09, 2016 ) The anti-corrosion coating market is projected to register a CAGR of 4.5% between 2014 and 2019 to reach $26,583 million.
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Power generation, infrastructure and automotive & transportation industry to be the drivers for the anti-corrosion coating market
Power generation, infrastructure and automotive & transportation are the highest growing segments for the anti-corrosion coating market. The huge financial and other losses caused due to corrosion, demand from its end-use industries and technological development in the industry are the major drivers for the anti-corrosion coating market. Marine sector emerged as the largest end-use industry for anti-corrosion coatings in 2013 and is estimated to experience a slow growth from 2014 to 2019 on account of the slowdown in the shipbuilding sector. Advanced techniques in industries like oil & gas and chemical processing will further boost the growth of the anti-corrosion coating market.
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Acrylic based anti-corrosion coating to have the highest growth
Epoxy based anti-corrosion coating dominated the market in 2013 and will continue to retain the leading position in 2019. Acrylic based anti-corrosion coating is estimated to have the highest growth from 2014 to 2019 due to the increasing environmental regulations and switch from solvent-borne coating to water-borne coating. Polyurethane based anti-corrosion coatings are also projected to have high growth from 2014 to 2019.
Industry shifting towards Water-borne coatings
Solvent-borne anti corrosion coatings dominated the market in 2013. The recent regulations aimed at reducing the VOC emissions from paints and coatings have impacted the growth of the segment. The regulations have in turn driven the growth for water-borne anti-corrosion coating that is environment friendlier.
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