This growth is mainly driven by rising demand from various end-use industries, advancements in coating technologies, strengthening of global economies and low competitive pressure due to fast-growing demands.
Demand will also be strong in the marine sector, with annual revenues expected to total 6,628.1 Mn in 2016, a 5.2% increase over 2015. Demand for corrosion protective coatings and acid proof lining materials will continue to witness steady demand in 2016, with global revenues totalling 31,636.2 Mn in 2016, an increase of 5.5% over 2015. Slow, yet promising growth in the construction sector will continue to drive adoption of corrosion protective coatings and acid proof lining materials in 2016.
Corrosion protective coatings find application in various industries from all across the globe. These coatings help in the protection of different products from degradation caused by salt spray, moisture, oxidation, and numerous chemical-based events, which lead to damage to alloys and metals. Owing to all this benefit, the global corrosion protective coatings and acid proof lining market is likely to gain promising sales opportunities in the assessment period 2015–2025.
Polymer coatings will continue to remain the largest corrosion protective coating product type, representing revenues worth 17,597.4 Mn in 2016, an increase of 5.8% over 2015. Ceramic & carbon brick lining will remain the most lucrative product segment in acid proof lining segment, representing 1,068.1Mn in revenues in 2016.
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Demand for corrosion protective and acid proof lining materials will remain strongest in Asia Pacific, with the region representing 36.7% revenue share in 2016. Steady pace of construction in the emerging countries of Asia Pacific will continue to create sustained demand for corrosion protective coatings and acid proof lining materials in 2016 and beyond. North America and Eastern Europe will maintain their position as the second- and third- largest market for corrosion protective and acid proof lining materials in 2016. These two regions will collectively account for 33.6% revenue share of the market in 2016.
BASF Coatings GmbH, PPG Industries, Inc., The Sherwin-Williams Company, Ashland Inc., Axalta Coating Systems Ltd., Hempel A/S, International Paint Ltd., and Jotun A/S etc. are some of the leading players in the global corrosion protective coatings and acid proof lining market. Concerns on the environmental impact of coatings and acid proof lining materials is influencing leading companies to focus on developing sustainable products — FMI expects this trend to gain further momentum in 2016.
The study performs segmentation of the global corrosion protective coatings and acid proof lining market based on various important factors including end-use industry, product type, technology, and region. Based on product type, the market for corrosion protective coatings and acid proof lining is classified into polymer coatings, corrosion protective coatings market, acid proof lining market, rubber lining systems, tile lining, thermoplastics lining, and ceramic and carbon brick lining.
The global corrosion protective coatings and acid proof lining market shows existence in many regions including Western Europe, North America, Eastern Europe, Latin America, Asia Pacific Excluding Japan (APEJ), and the Middle East & Africa. Of all regions, Asia Pacific is one of the dominant regions in the market for corrosion protective coatings and acid proof lining. One of the key reasons attributed to this scenario is rapid expansion of various end-use industries in this region.
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Key Segments Covered
By End-use Industry
– Marine
– Oil & gas
– Power generation
– Construction
– Automotive
– Transportation vehicles
– Chemicals
– Mining & metallurgy
By Product Type
– Corrosion Protective Coatings Market
– Polymer coatings
– Rubber lining systems
– Acid Proof Lining Market
– Ceramic & carbon brick lining
– Tile lining
– Thermoplastics lining
By Technology
– Solvent-borne
– Waterborne
– Powder-based
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Corrosion Protective Coatings and Acid Proof Lining , Corrosion Protective Coatings and Acid Proof Lining Market
Jun 05, 2023
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