GreyViews: The Corrosion Protection Coatings Market and Acid Proof Lining Market is expected to reach USD 18.9 Billion by 2030

Corrosion Protection Coatings and Acid Proof Lining Market Size By Application (Oil & Gas, Marine, Power Generation, Automotive, Construction, Transportation Vehicles, Chemicals, and Others), By Technology (Waterborne, Powder-based, and Solvent-borne), Regions, Segmentation, and forecast till 2030.

Pune India, Jan. 09, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the regions where there is the most demand. Corrosion Protection Coatings Market and Acid Proof Lining Market It is currently in operation and will soon expand. The suppliers and manufacturers involved in the Market for Corrosion Protection Coatings & Acid Proof Linings These are found in various countries throughout the above-mentioned areas.

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The report gives an in-depth understanding of the market segments created by combining various prospects, such as application, technology, and region. The following paragraphs discuss the market’s key drivers, constraints, growth opportunities, and challenges.

The major players operating in the global Corrosion Protection Coatings and Acid Proof Lining Market are BASF SE,  Ashland., PPG Industries, Inc., The Sherwin-Williams Company,    Axalta,  Hempel A/S, Jotun A/S,  Polycorp Ltd., STEULER-KCH GmbH,  Koch Industries, Inc., The STEBBINS Engineering and Manufacturing Company among other. To achieve a substantial market share in the worldwide  Corrosion Protection Coatings and Acid Proof Lining Market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Industries around the globe use corrosion-protective coatings to protect goods from degradation. This is often caused by moisture, salt spray and oxidation. In addition to petrochemicals, pharmaceuticals, and thermal power plants, acid-proof linings can also be used. This liner is necessary for chemical reactors that operate at temperatures above 125 °C. Some locations combine organic and chemical solvents with acid. The rapid expansion of the global market for acid-proof linings and corrosion protection coatings has been driven by the development of coating technologies. The market’s growth has been attributed to low competition and an expanding demand. The market for acid-proof and corrosion-protective linings is expected to see a positive growth trend in the coming years. This is due to a rise in demand from a variety of end-use sectors, including mining and metallurgy as well as construction, automotive, oil & gas, power generation and marine oil & gas. The advent of advanced coating technologies is expected to drive the market for corrosion protection coatings, and acid-proof lines, significantly. This market is expected to see significant growth, with little competition. Recent technology shifts have seen a significant shift from solvent-based technology to water-based technology.

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Scope of  Corrosion Protection Coatings and Acid Proof Lining Market Report

Segmentation Analysis

Construction is predicted to be the fastest-growing segment by 2022. 

The application segment is Oil & Gas, Marine, Power Generation, Automotive, Construction, Transportation Vehicles, Chemicals, and Others. The fastest growth rate is expected to be in the construction segment during the forecast period. Demand is expected to rise due to increased usage of aqueous coatings in construction and increased concern about extending steel’s lifespan for commercial and residential building infrastructure. As indoor air quality improves, waterborne paints will also be growing in popularity in the construction sector. Waterborne corrosion prevention coatings have lower application costs than solvent-borne ones and are expected to see a rise in construction sector demand over the next few decades. The growing consumer movement to metropolitan areas in the developing countries of Asia Pacific and the Middle East & Africa is expected to help the building industry.

In 2022, the fastest-growing segment will be that which is solvent-borne. 

Technology segments include Waterborne, Powder-based and Solvent-borne. The fastest growth rate is expected to be in the solvent-borne segment during the forecast period. Because of their increased cohesiveness and thin films applications, solvent-borne products were a large part of the market demand across all sectors, including construction, automotive and manufacturing. During the forecast period, corrosion protection products are expected to grow due to rising industrialization and the increased use of steel in construction. However, the industry is expected to be constrained over the next eight year due to its high VOC content as well as their improved flammability. The development of environmentally friendly aqueous materials that can replace solvent-borne coatings is another obstacle to market growth.

Analysis of Regional Issues

The country and key regions are analyzed in detail. Some of the key countries analyzed for the Corrosion Protection Coatings and Acid Proof Lining  include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

• Asia Pacific accounted for a large portion of the market. In North America, water-borne wood preservation coatings have seen a lot of progress. It is becoming increasingly obvious to consumers that eco-friendly coatings have many benefits. Because of their quick drying times and high manufacturing efficiency, UV wood preservation coatings are often used in industrial applications. High-solid technology uses less solvent and more solids to dominate the North American wood preserver coatings market. In the North American wood preservation coatings marketplace, customers are increasingly choosing coatings that have low odours and high durability.

Analyse of Country

Germany’s market for acid proof linings and corrosion protection coatings was worth USD 1.14 billion in 2022. It is projected to grow to USD 1.8 billion by 2030 at a CAGR 6% between 2023 and 2030. This is due to the rapid growth in many industries that serve this end-use area.

China’s corrosion protection coatings and acid proof lining market size was valued at USD 1.19 billion in 2022 and is expected to reach USD 1.9 billion by 2030, at a CAGR of 6.3% from 2023 to 2030. China is both the largest oil consumer and supplier worldwide, so any changes in this sector’s expansion activities could have a significant effect on the country’s coatings industry. The area is seeing many new industries. These advancements in many activities have led to an increase in the demand for acid-proof lining and corrosion protection coatings.

India’s market for acid proof linings and corrosion protection coatings was worth USD 0.92 billion in 2022. It is projected to grow at 6.2% CAGR between 2023 and 2030.  This is because of the increasing demand for anticorrosion coating in the power generating, automotive and transportation sectors.
Impact of Covid-19
Covid-19 had a profound impact on almost every industry, including electronics, semiconductors and manufacturing. However, many technology companies have seen an increase in revenue because of significant consumer preferences for technological services. The pandemic has also led to significant technology growth in both developed and developing countries.

Furthermore, the growth of the  Corrosion Protection Coatings and Acid Proof Lining Market is mainly driven by the rising demand from end-user industries.

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Get in touch
Rocky Shah
GreyViews
Pune India
Phone: (+44) 162-237-1047
Email: [email protected]
Web: https://greyviews.com/
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