According to the new market research report “Corrosion Protection Coating Market by Resin Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, Chlorinated Rubber), Technology (Solvent, Water, Powder), End-Use Industry (Marine, Oil & Gas, Petrochemical, Infrastructure) & Region - Global Forecast to 2027”, published by MarketsandMarkets™, the global Corrosion Protection Coatings Market size is projected to grow from USD 10.1 billion in 2023 to USD 12.3 billion by 2027, at a CAGR of 4.1%. Worldwide, corrosion causes huge financial losses in many industries. It also gradually weakens structures posing a threat to property and life. Corrosion protection coating is one of the most effective and economical solutions for tackling corrosion. They act as a barrier between the surface and the corrosion agent and prolong the life of the structure as well as enhance its efficiency.
The Asia Pacific is the fastest-growing corrosion protection coatings market globally. This is mainly due to economic growth, followed by large investments across all industries such as petrochemical, oil & gas, infrastructure, power generation, and industrial. Asia Pacific is the more promising market and is expected to be the same during the forecast period.
Major players operating in the corrosion protection coatings market include AkzoNobel N.V. (Netherlands), PPG Industries, Inc., (US), Jotun Group (Norway), The Sherwin-Williams Company (US), Kansai Paint Co., Ltd (Japan), Hempel Group (Denmark), Chugoku Marine Paints (Japan), Axalta Coating Systems (US), Nippon Paint Holdings Co., Ltd. (Japan) and Teknos (Finland).
