Market research organization Global Market Insights released a research report showing that the global anti-corrosion coatings market size will reach 20.21 billion US dollars by 2024, with a compound annual growth rate of about 5%.
The study pointed out that the global construction industry scale exceeded US $ 8 trillion in 2015 and will reach US $ 16 trillion by 2024. The compound annual growth rate is over 7%. With the continuous deepening of technological innovation and the vigorous development of the construction industry, the demand for metal structural materials continues to increase. Consumption demand for anticorrosive coatings has also increased. Anti-corrosion coating not only does not affect the structural strength of the material, but also makes the surface more beautiful.
The report points out that the rapid development of the global anti-corrosion coating market is mainly stimulated by the continuous growth of energy demand. Anti-corrosive coatings can effectively protect energy facilities operating in harsh environments. For example, solar installations are susceptible to environmental moisture, and anticorrosive coatings can provide multiple solutions for this. In addition, the global population is expected to exceed 9 billion in the future, which will further stimulate the demand for clean energy and promote the transformation and development of industrial structures. In addition, the oil and gas industry has a greater impact on the development of anti-corrosion coatings market.
The specific report states:
(1) Epoxy anticorrosive coating has excellent abrasion resistance, alkali resistance, acid resistance and water resistance, etc., and its market growth rate is expected to exceed 4.5%;
(2) In 2015, the consumption of anticorrosive coatings on infrastructure exceeded US $ 1 billion;
(3) Water-based anti-corrosive coatings are supported by policy, and the growth rate is obvious. For example, the U.S. anti-corrosion coatings market has a compound annual growth rate of more than 4.5%;
(4) The Asia-Pacific region, especially China, India, and Japan, is mainly stimulated by the strong development of the construction industry, and the annual compound growth rate of its anticorrosive coatings market is expected to exceed 5%;
(5) The competition in the anti-corrosion field is extremely fierce. The companies involved in this field mainly include: Ashland, AxaltaCoating, Hempel, BASF, AkzoNobel, Jotun, KansaiPaints, PPGIndustries, RPM International, etc.