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Anti-Corrosion Market Research Report 2024

Anti-Corrosion Market Global Industry Analysis and Forecast (2024-2032) by Type (Epoxy, Acrylic, Alkyd, Polyurethane, Chlorinated Rubber, Others), Technology (Solvent-borne, Waterborne, and Powder Coating) and Region

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Report ID: 277

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Anti -Corrosion Market Synopsis

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 referred to as anti-corrosion agents, are substances inserted into fluids or gases to decrease the speed at which metals in contact with these substances corrode. Their efficacy is dependent on the makeup and movement patterns of the fluid.

  • These inhibitors create a protective coating on metal surfaces, preventing the chemical processes that cause corrosion. They increase the longevity of mechanical parts and equipment in corrosive environments by reducing the speed of the corrosion process. Putting anti-corrosion coatings on mechanical components provides notable benefits.
  • These coatings protect metal surfaces from tough environmental factors like moisture and chemicals that speed up corrosion. These coatings create a shield that stops rust and deterioration, thus preserving the strength and performance of the parts. This defense is essential in sectors where the durability and dependability of machinery are key, cutting down on maintenance expenses and downtime caused by corrosion-related breakdowns.
  • In addition, anti-corrosion coatings improve the visual attractiveness of mechanical components by maintaining their look throughout the years. This is especially crucial in situations where maintaining visual attractiveness or cleanliness standards is necessary.
  • These coatings can enhance operational effectiveness by diminishing friction and wear among moving components that may happen due to corrosion affecting surface smoothness. In general, anti-corrosion coatings not only shield metal parts but also improve their efficiency and lifespan in challenging operational conditions.

Top Key Players 

"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), Sika AG (Switzerland), Tnemec Company, Inc. (United States), Valspar Corporation (United States), Berger Paints (India), Crown Paints Kenya PLC (Kenya), Australia's Australia (Australia), PPG Industries, Inc. (United States), RPM International Inc. (United States), Chugoku Marine Paints, Ltd. (Japan) and Other Major Players"

Anti -Corrosion Market Trend Analysis

Rising Costs of Corrosion Damage

  • Corrosion results in a major financial impact worldwide, requiring billions of dollars each year for maintenance and repairs. As bridges, pipelines, and industrial equipment get older, they are more likely to corrode due to being exposed to environmental elements such as moisture and chemicals. This deterioration poses a risk to both the stability of the structure and can result in interruptions, costly repairs, and safety concerns.
  • In reducing these risks, anti-corrosion coatings are essential. Engineers can increase the longevity of steel structures and concrete reinforcements by using protective coatings to prevent corrosion.
  • These coatings protect by acting as a barrier against corrosion from moisture, chemicals, and abrasive elements. Investing in coatings for corrosion prevention results in significant long-term savings by decreasing maintenance cycles, repair expenses, and the necessity for early replacements.
  • Aside from monetary benefits, corrosion prevention methods improve operational dependability and safety. They assist infrastructure in staying at optimal performance throughout its lifespan, guaranteeing that vital systems such as transportation networks and industrial facilities continue to operate smoothly with minimal interruptions.
  • By focusing on preventing corrosion, industries and governments protect investments and promote sustainable development by extending the lifespan of infrastructure and decreasing the environmental effects linked to early replacements.

Growth of the Oil and Gas Industry

  • The anti-corrosion market has great potential in the oil and gas industry because of its large infrastructure requirements. Pipelines, rigs, and storage tanks are essential components in this industry, located in extensive geographical regions and diverse environmental settings.
  • Preventative measures against corrosion are important for ensuring the safety and durability of infrastructure that is frequently exposed to corrosive elements like moisture, chemicals, and saline environments.
  • Anti-rust coatings and solutions are crucial for safeguarding oil and gas facilities. Coatings can act as a protective shield from corrosive substances, increasing the longevity of pipelines and storage tanks while cutting down on maintenance expenses.
  • Special coatings designed specifically for offshore rigs and pipelines provide increased protection against corrosion from seawater and marine organisms, reducing the chances of leaks and environmental harm.
  • The continuous increase in oil and gas exploration and production on a global scale drives the need for anti-corrosion remedies. New opportunities for providers of anti-corrosion technology are arising in emerging markets and offshore developments in regions such as Asia-Pacific and Africa.
  • With environmental and safety regulations becoming stricter, oil and gas companies are increasingly urged to invest in effective corrosion protection methods, leading to a rise in the anti-corrosion market. Therefore, the close relationship between the oil and gas sector and corrosion prevention technology remains a key factor in fostering global growth and advancement.

Anti -Corrosion Market Segment Analysis:

Anti -Corrosion Market Segmented based on Type and Technology

By Type, Epoxy segment is expected to dominate the market during the forecast period

  • Epoxy coatings are renowned for their exceptional resistance to a wide array of chemicals, making them highly effective in combating corrosion, especially in marine environments.
  • These coatings serve as robust protective barriers, crucial for safeguarding carbon steel tanks from external deterioration. Their durability extends further to withstanding abrasion, turbulent conditions, harsh chemicals, and extreme temperatures, making them a preferred choice across various industrial applications including steel, aluminum, and concrete surfaces.
  • At their core, epoxies are polymers composed of large chains with repeating subunits. Epoxy resins, which form the basis of these coatings, consist of epoxides — highly reactive molecular groups that undergo curing through chemical reactions when mixed with other substances or exposed to elevated temperatures.
  • This curing process involves cross-linking the polymer chains, resulting in epoxy thermoset polymers characterized by their resilience, longevity, versatility, and adhesive properties.
  • The epoxy is a thermosetting material, meaning once cured, it cannot be reversed to its original form. The curing process is contingent on adequate ambient temperatures to initiate and complete effectively. Once cured, epoxy coatings offer enduring protection, ensuring long-term performance in demanding industrial environments where corrosion resistance is paramount.

By Technology, the Powder coatings segment held the largest share of 47.76 % in 2023

  • Powder coatings have become a leading player in the anti-corrosion market because of their exceptional longevity, eco-friendly advantages, and flexibility in use. In contrast to liquid coatings, powder coatings do not contain solvents and release very low levels of volatile organic compounds (VOCs), which makes them eco-friendly.
  • In terms of functionality, powder coatings provide outstanding protection against corrosion, chemicals, and abrasion, which makes them well-suited for safeguarding metal surfaces in tough conditions.
  • Their capacity to create a durable, solid coating after curing offers lasting defense against rust and deterioration, prolonging the life of treated surfaces. This strength is especially important in sectors like automotive, aerospace, construction, and industrial manufacturing, where preserving structural integrity and aesthetics is crucial.
  • The powder coatings provide an extensive variety of color choices and finishes, including matte and high gloss, which enhance their attractiveness in decorative uses as well as their protective properties.
  • Their popularity is also enhanced by how easy they are to apply and their effectiveness in coating intricate shapes. With ongoing advancements in technology and formulations, powder coatings are projected to remain at the forefront of the anti-corrosion market due to continuous improvements in performance, sustainability, and application flexibility.

Anti-Corrosion Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast Period

  • Several factors drive dominance in the anti-corrosion market in the Asia-Pacific region. Initially, the demand for reliable anti-corrosion solutions has increased due to quick industrial growth and infrastructure development in countries such as China, India, and Southeast Asian nations. These nations are making significant investments in construction, manufacturing, and energy industries, requiring strong corrosion protection to prolong the lifespan of infrastructure and machinery.
  • In addition, the area has a robust manufacturing sector specifically focused on producing anticorrosion coatings and materials. Local manufacturers not only meet the needs of the local market but also export to international markets, utilizing competitive pricing and a variety of products that meet various industry requirements. Advancements in technology and research support manufacturing capabilities, allowing for innovation in sustainable and high-performance anti-corrosion solutions.
  • The efforts by regulatory bodies to encourage environmental sustainability and safety guidelines are influencing the market scenario. Countries in the area are more and more putting into place strict rules on coatings and materials, which is leading to an increase in the use of environmentally friendly and compliant anti-corrosion products. This regulatory atmosphere promotes investment in R&D, aiding in the expansion of the anticorrosion market in Asia-Pacific.

Active Key Players in the Anti-Corrosion Market

  • 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)
  • Sika AG (Switzerland)
  • Tnemec Company, Inc. (United States)
  • Valspar Corporation (United States)
  • Berger Paints (India)
  • Crown Paints Kenya PLC (Kenya)
  • Dulux Australia (Australia)
  • PPG Industries, Inc. (United States)
  • RPM International Inc. (United States)
  • Chugoku Marine Paints, Ltd. (Japan) and Other Major Players

Key Industry Developments in the Anti-Corrosion Market:

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. The acquisition aimed to address the increasing demand for repair solutions that enhance asset longevity as infrastructure ages and sustainability becomes more crucial.

Global Anti -Corrosion Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 36.08 Bn.

Forecast Period 2024-32 CAGR:

4.5 %

Market Size in 2032:

USD 53.62 Bn.

Segments Covered:

By Type

  • Epoxy
  • Acrylic
  • Alkyd
  • Polyurethane
  • Chlorinated Rubber
  • Others

By Technology

  • Solvent-borne
  • Waterborne
  • Powder Coating

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Frequently Asked Questions

What would be the forecast period in the Anti -Corrosion Market research report?

The forecast period in the Anti -Corrosion Market research report is 2024-2032.

Who are the key players in the Anti -Corrosion Market?

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), Sika AG (Switzerland), Tnemec Company, Inc. (United States), Valspar Corporation (United States), Berger Paints (India), Crown Paints Kenya PLC (Kenya), Australia's Australia (Australia), PPG Industries, Inc. (United States), RPM International Inc. (United States), Chugoku Marine Paints, Ltd. (Japan) and Other Major Players and Other Major Players.

What are the segments of the Anti -Corrosion Market?

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 region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Anti -Corrosion Market?

Corrosion inhibitors also referred to as anti-corrosion agents, are substances inserted into fluids or gases to decrease the speed at which metals in contact with these substances corrode. Their efficacy is dependent on the makeup and movement patterns of the fluid. These inhibitors create a protective coating on metal surfaces, preventing the chemical processes that cause corrosion. They increase the longevity of mechanical parts and equipment in corrosive environments by reducing the speed of the corrosion process. Putting anti-corrosion coatings on mechanical components provides notable benefits.

How big is the Anti -Corrosion Market?

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.

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