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The Anti-corrosion Coatings Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Anti-corrosion Coatings is the increasing demand for Anti-corrosion Coatings in various industries.
This report on the Anti-corrosion Coatings Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Anti-corrosion Coatings Market. The report intends to present a thorough analysis of the Anti-corrosion Coatings Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Anti-corrosion Coatings Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Anti-corrosion Coatings Market are-
AICA Kogyo Co., Ltd.
Akzo Nobel N.V.
Ashland Global Specialty Chemicals Inc.
BASF SE
Chugoku Marine Paints
Hempel A/S
Jotun
Kansai Paint Co., Ltd.
PPG Industries, Inc.
The Valspar Corporation.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Anti-corrosion Coatings Market value and growth drivers over the trend period of 2022-27. According to the report -
Anti-corrosion Coatings Market is likely to witness a CAGR of 4.3% during the forecast period. Major factors such as growing anti-corrosion coatings’ demand in tag and label applications, growing per capita consumption of metal due to strong economic push and rising per capita income are likely to drive the market for anti-corrosion coatings during the forecast period. Furthermore, the role of anti-corrosion coatings in providing protection to equipment used in the energy industry from extreme weather conditions is expected to fuel the growth of the market.
Segment Analysis:
Based on Mode of Application Type:
Based on the mode of application type, the market is segmented as solvent-based, water-based, and powder. Water-based mode of application is anticipated to register high growth rate in the market owing to the existence of several environmental regulations on the use of solvent-based coatings, promoting the use of water-based coatings. Furthermore, with increased stress on environmental-friendly coatings, many industry partakers are working towards the development of efficient and durable water-based anti-corrosion coatings, that in turn, is boosting the product demand in the market during the forecast period.
Based on Region:
In terms of regions, Asia-Pacific is estimated to be the leading region in the market owing to production and consumption in China. Some of the huge multinational giants and manufacturing ships have production bases in China, making it a major exporter to the rest of the world. The vast demand for anti-corrosion coatings in Asia-Pacific, predominantly from the shipping, energy, and infrastructural industries is further expected to fuel the market growth over the forecast period. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.
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