Global Anti-Corrosion Coatings Market 2017-2021
About Anti-corrosion Coatings
Anti-corrosion coatings offer chemical resistance and protect metal surfaces from deterioration caused by corrosion. These coatings (mostly applied on metal surfaces) provide protection against moisture, oxidation, salt sprays, and chemical exposure. They provide a barrier to the metal surfaces by obstructing the contact between chemical compounds.
Technavio’s analysts forecast the global anti-corrosion coatings market to grow at a CAGR of 5.33% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global anti-corrosion coatings market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Anti-corrosion Coatings Market 2017-2021
Technavio recognizes the following companies as the key players in the global anti-corrosion coatings market: Akzo Nobel, BASF, RPM International, The Dow Chemical Company, and The Sherwin-Williams Company.
Other Prominent Vendors in the market are: 3M, Ashland, Axalta Coating Systems, Bluchem, Clariant, Diamond Vogel, DuPont, Hempel, Jotun, KANSAI PAINT, Nippon Paint, PPG Industries, Royal DSM, Solvay, and Wacker Chemie.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing demand for waterborne anti-corrosion coatings. Waterborne anti-corrosion coatings are in high demand as these comply with the stringent VOC emission control guidelines. These coatings have very low levels of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs). The water-based coatings improve the lifespan and durability of the products.”
According to the report, one of the major drivers for this market is Growth in marine industry. Anti-corrosion coatings are extensively used in the marine industry and are mainly used for commercial ships and vessels such as freight carriers, cruise ships, tows, yachts, and boats. These coatings protect hulls and yachts from deterioration or corrosion caused by extremely harsh conditions such as high temperature, varying pressure, high content of salt in water, and organic development caused by moisture. Anti-corrosion coatings applied on several parts of the ships increase their lifespan and durability.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating prices of raw materials. Unswerving price variations of raw materials used in the manufacture of anti-corrosion pose serious challenges to the manufacturers of anti-corrosion coatings. Benzene, toluene, ethylene, and naphthalene are the major raw materials used in the production of anti-corrosion coatings and are extracted from petrochemical derivatives. The prices of these petrochemical derivatives are highly dependent on the prices of crude oil and natural gas.
Akzo Nobel, BASF, RPM International, The Dow Chemical Company, The Sherwin-Williams Company, 3M, Ashland, Axalta Coating Systems, Bluchem, Clariant, Diamond Vogel, DuPont, Hempel, Jotun, KANSAI PAINT, Nippon Paint, PPG Industries, Royal DSM, Solvay, and Wacker Chemie.
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