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Anti-Corrosion Market To Reach USD 53.62 Billion By Year 2032

Anti -Corrosion Market Size Was Valued at USD 36.08 Billion in 2023 and is Projected to Reach USD 53.62 Billion by 2032, Growing at a CAGR of 4.5% From 2024-2032.

04-07-2024
Vishal Panchmukh
Chemical and Materials
Pristine Intelligence LLP

According to a new report published by Pristine Intelligence, titled, “Anti-Corrosion Market by Application and Packaging Type: Global Opportunity Analysis and Industry Forecast, 2024–2032,” Anti -Corrosion Market Size Was Valued at USD 36.08 Billion in 2023 and is Projected to Reach USD 53.62 Billion by 2032, Growing at a CAGR of 4.5 % From 2024-2032.

Corrosion inhibitors, also known as anti-corrosion agents, are substances added to fluids or gases to reduce the rate of metal corrosion when in contact with these substances. Their effectiveness varies based on fluid composition and flow dynamics. These inhibitors form a protective layer on metal surfaces, preventing the chemical processes that lead to corrosion. By slowing down corrosion, they significantly extend the lifespan of mechanical parts and equipment in corrosive environments. Applying anti-corrosion coatings to mechanical components offers substantial benefits, shielding metal surfaces from harsh environmental elements such as moisture and chemicals that accelerate corrosion. This protective barrier effectively prevents rust and deterioration, preserving the structural integrity and performance of these components. In industries reliant on robust machinery, this defense minimizes maintenance costs and operational downtime caused by corrosion-related failures.

According to the global Anti-Corrosion market analysis, the market is divided by type, technology, and geographical division. The Anti -Corrosion Market is segmented into Type, Technology, and region. By Type, the market is categorized into Epoxy, Acrylic, Alkyd, Polyurethane, Chlorinated Rubber, and Others. By Technology, the market is categorized into Solvent-borne, Waterborne, and Powder Coating. By geography, it includes North America, Europe, Asia-Pacific, and LAMEA markets. Further, the report also covers the strategies adopted by key market players to sustain a competitive environment and increase their market share.

The global impact of corrosion damage is substantial, costing billions annually in maintenance and repairs for aging structures like bridges, pipelines, and industrial equipment exposed to environmental elements. Anti-corrosion coatings play a crucial role in extending the lifespan of steel and concrete infrastructure by acting as barriers against moisture, chemicals, and abrasives. Investing in these coatings not only reduces long-term maintenance and repair costs but also enhances operational reliability and safety across critical systems like transportation networks and industrial facilities. Moreover, these measures support sustainable development by prolonging infrastructure lifespans and minimizing environmental impacts from premature replacements. In the oil and gas industry, where extensive infrastructure is exposed to corrosive conditions, specialized coatings are essential for protecting pipelines, rigs, and storage tanks from degradation, thereby supporting global exploration and production efforts while meeting stringent regulatory requirements.

Global Anti-Corrosion Market, Segmentation

The Anti-Corrosion market is segmented based on type, technology, and region.

Type:

The type segment is further classified into Epoxy, Acrylic, Alkyd, Polyurethane, Chlorinated Rubber, and Others. Among these, the Epoxy sub-segment accounted for the highest market share in 2023. Epoxy coatings are widely recognized for their exceptional chemical resistance, crucial for combating corrosion, especially in marine settings. They form robust protective barriers, vital for safeguarding carbon steel tanks from external deterioration. Their durability extends to withstanding abrasion, harsh chemicals, and extreme temperatures, making them favored in industrial applications on steel, aluminum, and concrete surfaces. Epoxy resins, the foundation of these coatings, are polymers with reactive epoxide groups that cure through chemical reactions or heat. This curing process cross-links polymer chains, creating thermoset epoxy polymers known for resilience, longevity, versatility, and strong adhesive properties. Once cured, epoxy coatings provide lasting protection in demanding industrial environments.

Technology:

The application segment is further classified into Solvent-borne, Waterborne, and Powder Coating. Among these, the Powder Coating sub-segment is anticipated to show the fastest growth by 2032. Powder coatings dominate the anti-corrosion market due to their eco-friendly nature, longevity, and versatile protective qualities. Unlike liquid coatings, they are solvent-free and emit minimal VOCs, appealing for environmental reasons. They offer a robust defense against corrosion, chemicals, and abrasion, crucial for sectors like automotive and aerospace. With a wide range of colors and finishes, including matte and gloss, they serve both decorative and protective purposes effectively. Easy application on complex shapes and ongoing technological advancements ensure powder coatings will remain pivotal in anti-corrosion strategies, driven by improved performance, sustainability, and application versatility.

Region:

The Anti-Corrosion market in Asia-Pacific is projected to show the fastest growth by 2032. The Asia-Pacific anti-corrosion market thrives due to rapid industrial growth in countries like China, India, and Southeast Asia, necessitating reliable protection for infrastructure and machinery. Local manufacturers cater to both domestic and international markets with competitive pricing and diverse product offerings, supported by technological advancements. Stringent environmental regulations further drive demand for sustainable coatings, encouraging innovation and market expansion in anti-corrosion solutions across the region.

Some of The Leading/Active Market Players Are-

  • AkzoNobel Industrial Coatings (Netherlands)
  • Axalta Coating Systems (United States)
  • Carboline Company (United States)
  • Hempel A/S (Denmark)
  • International Paint (part of AkzoNobel) (United Kingdom)
  • Jotun (Norway)
  • Kansai Paint Co., Ltd. (Japan)
  • Nippon Paint Holdings Co., Ltd. (Japan)
  • Rust-Oleum Corporation (United States)
  • Sherwin-Williams Protective & Marine Coatings (United States) and Other Active Players

Key Industry Developments

  • In June 2024, Sparc Technologies partnered with Mine to trial an anti-corrosive coating. Sparc Technologies and Golden Grove Operations Pty Ltd, a wholly owned subsidiary of 29Metals Limited, had signed a binding agreement to conduct a field trial of its ecosparc anti-corrosive product on processing plant infrastructure
  • In April 2024, Henkel completed the acquisition of Seal for Life Industries LLC from Arsenal Capital Partners in February 2024. Seal for Life specializes in supplying protective coating and sealing solutions across various infrastructure markets, including renewable energy, oil and gas, and water.

Key Findings of the Study 

  • By Technology the Powder coatings segment held the largest share of 47.76 % in 2023 of the total Anti-Corrosion market.   
  • The APAC region is expected to continue to lead the market followed by North America during the forecast period.
  • Anti -Corrosion Market Size Was Valued at USD 36.08 Billion in 2023 and is Projected to Reach USD 53.62 Billion by 2032, Growing at a CAGR of 4.5 % From 2024-2032.
Pristine Intelligence LLP

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