Global Anti-corrosion Coatings Market, Forecast to 2023

High Growth is Expected from Booming Infrastructure and Commercial Architecture End-user Industries in the Middle East and Asia

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According to a study by NACE International—the worldwide corrosion authority, the global annual expenditure to mitigate corrosion is in the range of $2.5 trillion, roughly equal to 3.4% of the world’s GDP. Protecting assets from corrosion is, hence, a critical requirement for all industries. Various protective, marine, and industrial coatings formulated to protect substrates such as metals and concrete from damage due to corrosion are broadly termed anti-corrosion coatings.

In this study, the global anti-corrosion coating market is analyzed for the end-user industries of oil and gas, manufacturing, water and wastewater, commercial architecture, infrastructure, marine, and power generation. The base year is 2016. The major chemistries involved in the formulation of these coatings are epoxy, polyurethane, polysiloxane, acrylic, and alkyds. The corrosion protection requirement of a coating varies based on the corrosion environment to which a substrate is expected to be exposed. Corrosive environments are rated from C1 to C5 according to ISO 12944-2 classification. Coatings used for protecting substrates in environments C1 and C2 are categorized as low-range coatings, C3 are categorized as medium-range coatings, and C4, C5I, and C5M are categorized as higher-end protective coatings in this study.

The anti-corrosion coatings market is highly competitive among manufacturers of lower-range products used mostly in manufacturing, infrastructure, and commercial architecture. Additionally, the presence of a significant number of large and regional market participants offering such products compels manufacturers to maintain low prices due to the high price sensitivity of customers, especially in the developing countries of Asia-Pacific. On the other hand, manufacturers of higher-range protective coatings used to protect substrates in harsh marine, off-shore, and chemical exposure conditions experience less competition and price sensitivity, as customers seek specialized and efficient products for such applications even at higher prices.

Asia-Pacific is the largest regional market for anti-corrosion coatings, with high growth potential driven by the growing end-user industries such as infrastructure, manufacturing, and water and wastewater.

The market in North America is expected to witness significant growth from the manufacturing sector, while a recovery in crude oil prices is expected to propel revenue growth in the region from the oil and gas sector.

Anti-corrosion coatings face regulatory pressure from organizations such as US Environmental Protection Agency (US EPA) and REACH, which mandate the use of products with low VOC emissions and eliminate the use of heavy metals. There is an increasing trend of customers moving to waterborne and higher solids anti-corrosion coatings instead of solvent-borne ones for want of lower VOC emissions, better aesthetics, and durability. Manufacturers are increasingly investing in product development to enhance environmental sustainability and product efficiency. Customers are looking for products that are easier to apply, with quicker drying times and longevity.

Table of Contents

1. Executive Summary
Key Findings
Executive Summary—Strategic Factsheet
Market Engineering Measurements
CEO’s Perspective
2. Market Overview
Market Definitions
Geographic Scope
Market Definitions
Oil and Gas
Manufacturing
Water and Wastewater
Commercial Architecture
Infrastructure
Marine
Power Generation
Market Segmentation
North America
Europe
Asia-Pacific
Rest of the World
3. Drivers and Restraints—Total Anti-corrosion Coatings Market
Market Drivers
Expansion of Building and Construction and Infrastructure Development in Asia-Pacific
Consistent Growth of the Global Marine Industry
Continuous Need for Repair and Maintenance in the Oil and Gas and Marine Industries
Drive by Regulatory Authorities to Reduce VOC Emissions
Market Restraints
Stringent Regulations Mandated by Authorities in Europe and North America
High Pricing Pressure from Intense Competition
Decline in the Global Oil and Gas Industry
4. Forecasts and Trends—Total Anti-corrosion Coatings Market
Market Engineering Measurements
Revenue Forecast
Unit Shipment Forecast
Percent Revenue Forecast by Region
Revenue Forecast by Region
Percent Unit Shipment Forecast by Region
Unit Shipment Forecast by Region
Percent Revenue Forecast by End-user Industry
Percent Unit Shipment Forecast by End-user Industry
Value Chain
Anti-corrosion Coatings—Regulations
5. Market Share and Competitive Analysis—Total Anti-corrosion Coatings Market
Market Share
Akzo Nobel
PPG
Jotun
Hempel
Sherwin Williams
Others
Notable Mergers and Acquisitions
Competitive Forces (Porter’s 5 Forces Model)
Product Matrix
6. Growth Opportunities and Companies to Action
Growth Opportunity 1—Hybrid Coatings
Growth Opportunity 2—Direct-to-Metal (DTM) Coatings
Growth Opportunity 3—Construction Growth in Asia-Pacific and Rest of the World
Strategic Imperatives for Success and Growth
7. End-user Industry Analysis—Oil & Gas
Industry Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Oil & Gas End-user Industry—Key Trends
Competitive Environment
8. End-user Industry Analysis—Manufacturing
Industry Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Manufacturing End-user Industry—Key Trends
Competitive Environment
9. End-user Industry Analysis—Water & Wastewater
Segment Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Water & Wastewater End-user Industry—Key Trends
Competitive Environment
10. End-user Industry Analysis—Commercial Architecture
Segment Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Commercial Architecture End-user Industry—Key Trends
Competitive Environment
11. End-user Industry Analysis—Infrastructure
Industry Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Infrastructure End-user Industry—Key Trends
Competitive Environment
12. End-user Industry Analysis—Marine
Industry Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Marine End-user Industry—Key Trends
Competitive Environment
13. End-user Industry Analysis—Power Generation
Industry Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Power Generation End-user Industry—Key Trends
Competitive Environment
14. North America Breakdown
North America—Characteristics and Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Pricing Trends and Forecast
Percent Revenue Forecast by Country
Percent Unit Shipment Forecast by Substrate and Mode of Application
Percent Revenue Forecast by End-user Industry
Percent Unit Shipment Forecast by End-user Industry
Percent Unit Shipment Forecast by Chemistry
Percent Unit Shipment Forecast by Technology
Market Share
Sherwin Williams
Carboline
Akzo Nobel
PPG
Others
15. Europe Breakdown
Europe—Characteristics and Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Pricing Trends and Forecast
Percent Unit Shipment Forecast by Substrate and Mode of Application
Percent Revenue Forecast by End-user Industry
Percent Unit Shipment Forecast by End-user Industry
Percent Unit Shipment Forecast by Chemistry
Percent Unit Shipment Forecast by Technology
Percent Revenue Forecast by Sub-region
Market Share
Akzo Nobel
PPG
Hempel
Jotun
Others
Competitive Environment
16. Asia-Pacific Breakdown
Asia-Pacific—Characteristics and Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Pricing Trends and Forecast
Percent Unit Shipment Forecast by Substrate and Mode of Application
Percent Revenue Forecast by End-user Industry
Percent Unit Shipment Forecast by End-user Industry
Percent Unit Shipment Forecast by Chemistry
Percent Unit Shipment Forecast by Technology
Percent Revenue Forecast by Country
Market Share
Akzo Nobel
Chugoku Marine Paints
PPG
Nippon Paints
Others
Competitive Environment
17. Rest of the World Breakdown
Rest of the World—Characteristics and Overview
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Pricing Trends and Forecast
Percent Unit Shipment Forecast by Substrate and Mode of Application
Percent Revenue Forecast by End-user Industry
Percent Unit Shipment Forecast by End-user Industry
Percent Unit Shipment Forecast by Chemistry
Percent Unit Shipment Forecast by Technology
Percent Revenue Forecast by Country
Market Share
Akzo Nobel
PPG
Hempel
Jotun
Others
Competitive Environment
18. The Last Word
The Last Word—3 Big Predictions
Legal Disclaimer
19. Appendix
Market Engineering Methodology
Additional Sources of Information on Anti-corrosion
Partial List of Companies Interviewed
Abbreviations and Acronyms Used

Infographic



List of Figures & Charts

1. Total Anti-corrosion Coatings Market: Key Market Drivers, Global, 2017–2023
2. Anti-corrosion Coatings Market: Key Market Restraints, Global, 2017–2023
3. Total Anti-corrosion Coatings Market: Market Engineering Measurements, Global, 2016
4. Total Anti-corrosion Coatings Market: Revenue Forecast by Region, Global, 2013–2023
5. Total Anti-corrosion Coatings Market: Unit Shipment Forecast by Region, Global, 2013–2023
6. Total Anti-Corrosion Coatings Market: Anti-corrosion Coatings Regulations, Global, 2017
7. Total Anti-corrosion Coatings Market: Notable Mergers & Acquisitions, Global, 2013–2017
8. Total Anti-corrosion Coatings Market: Company Product Matrix, Global, 2017
9. Oil & Gas Industry: Market Engineering Measurements, Global, 2016
10. Oil & Gas Industry: Competitive Structure, Global, 2016
11. Manufacturing Industry: Market Engineering Measurements, Global, 2016
12. Manufacturing Industry: Competitive Structure, Global, 2016
13. Water & Wastewater Industry: Market Engineering Measurements, Global, 2016
14. Water & Wastewater Industry: Competitive Structure, Global, 2016
15. Commercial Architecture Industry: Market Engineering Measurements, Global, 2016
16. Commercial Architecture Industry: Competitive Structure, Global, 2016
17. Infrastructure Industry: Market Engineering Measurements, Global, 2016
18. Infrastructure Industry: Competitive Structure, Global, 2016
19. Marine Industry: Market Engineering Measurements, Global, 2016
20. Marine Industry: Competitive Structure, Global, 2016
21. Power Generation Industry: Market Engineering Measurements, Global, 2016
22. Power Generation Industry: Competitive Structure, Global, 2016
23. Anti-corrosion Coatings Market: Market Engineering Measurements, North America, 2016
24. Anti-corrosion Coatings Market: Competitive Structure, North America, 2016
25. Anti-corrosion Coatings Market: Market Engineering Measurements, Europe, 2016
26. Anti-corrosion Coatings Market: Competitive Structure, Europe, 2016
27. Anti-corrosion Coatings Market: Market Engineering Measurements, Asia-Pacific, 2016
28. Anti-corrosion Coatings Market: Competitive Structure, Asia-Pacific, 2016
29. Anti-corrosion Coatings Market: Market Engineering Measurements, RoW, 2016
30. Anti-corrosion Coatings Market: Competitive Structure, RoW, 2016


1. Total Anti-corrosion Coatings Market: Market Engineering Measurements, Global, 2016
2. Total Anti-corrosion Coatings Market: Percent Revenue by Region, Global, 2016
3. Total Anti-corrosion Coatings Market: Percent Revenue Forecast by Region, Global, 2023
4. Infrastructure Development: Major Trends, Asia-Pacific, 2016–2023
5. Ship and Boat Building Industry: Revenue Forecast, Global, 2016–2023
6. Total Anti-corrosion Coatings Market: Revenue Forecast, Global, 2013–2023
7. Total Anti-corrosion Coatings Market: Unit Shipment Forecast, Global, 2013–2023
8. Total Anti-corrosion Coatings Market: Percent Revenue by Region, Global, 2016
9. Total Anti-corrosion Coatings Market: Percent Revenue Forecast by Region, Global, 2023
10. Total Anti-corrosion Coatings Market: Percent Unit Shipment by Region, Global, 2016
11. Total Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Region, Global, 2023
12. Anti-corrosion Coatings Market: Percent Revenue by End-user Industry, North America, 2016
13. Anti-corrosion Coatings Market: Percent Revenue Forecast by End-user Industry, North America, 2023
14. Anti-corrosion Coatings Market: Percent Unit shipment by End-user Industry, North America, 2016
15. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by End-user Industry, North America, 2023
16. Total Anti-corrosion Coatings Market: Value Chain, Global, 2016
17. Total Anti-corrosion Coatings Market: Market Share, Global, 2016
18. Oil & Gas Industry: Unit Shipment and Revenue Forecast, Global, 2013–2023
19. Manufacturing Industry: Unit Shipment and Revenue Forecast, Global, 2013–2023
20. Water & Wastewater Industry: Unit Shipment and Revenue Forecast, Global, 2013–2023
21. Commercial Architecture Industry: Unit Shipment and Revenue Forecast, Global, 2013–2023
22. Infrastructure Industry: Unit Shipment and Revenue Forecast, Global, 2013–2023
23. Marine Industry: Unit Shipment and Revenue Forecast, Global, 2013–2023
24. Power Generation Industry: Unit Shipment and Revenue Forecast, Global, 2013–2023
25. Anti-corrosion Coatings Market: Unit Shipment and Revenue Forecast, North America, 2013–2023
26. Anti-corrosion Coatings Market: Average Price, North America, 2013–2023
27. Anti-corrosion Coatings Market: Percent Revenue by Country, North America, 2016
28. Anti-corrosion Coatings Market: Percent Revenue Forecast by Country, North America, 2023
29. Anti-corrosion Coatings Market: Percent Unit Shipment by Substrate, North America, 2016
30. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Substrate, North America, 2023
31. Anti-corrosion Coatings Market: Percent Unit Shipment by Mode of Application, North America, 2016
32. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Mode of Application, North America, 2023
33. Anti-corrosion Coatings Market: Percent Revenue by End-user Industry, North America, 2016
34. Anti-corrosion Coatings Market: Percent Revenue Forecast by End-user Industry, North America, 2023
35. Anti-corrosion Coatings Market: Percent Unit shipment by End-user Industry, North America, 2016
36. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by End-user Industry, North America, 2023
37. Anti-corrosion Coatings Market: Percent Unit Shipment by Chemistry, North America, 2016
38. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Chemistry, North America, 2023
39. Anti-corrosion Coatings Market: Percent Unit Shipment by Technology, North America, 2016
40. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Technology, North America, 2023
41. Anti-corrosion Coatings Market: Market Share, North America, 2016
42. Anti-corrosion Coatings Market: Unit Shipment and Revenue Forecast, Europe, 2013–2023
43. Anti-corrosion Coatings Market: Average Price, Europe, 2013–2023
44. Anti-corrosion Coatings Market: Percent Unit Shipment by Substrate, Europe, 2016
45. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Substrate, Europe, 2023
46. Anti-corrosion Coatings Market: Percent Unit Shipment by Mode of Application, Europe, 2016
47. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Mode of Application, Europe, 2023
48. Anti-corrosion Coatings Market: Percent Revenue by End-user Industry, Europe, 2016
49. Anti-corrosion Coatings Market: Percent Revenue Forecast by End-user Industry, Europe, 2023
50. Anti-corrosion Coatings Market: Percent Unit Shipment by End-user Industry, Europe, 2016
51. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by End-user Industry, Europe, 2023
52. Anti-corrosion Coatings Market: Percent Unit Shipment by Chemistry, Europe, 2016
53. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Chemistry, Europe, 2023
54. Anti-corrosion Coatings Market: Percent Unit Shipment by Technology, Europe, 2016
55. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Technology, Europe, 2023
56. Anti-corrosion Coatings Market: Percent Revenue by Sub-region, Europe, 2016
57. Anti-corrosion Coatings Market: Percent Revenue Forecast by Sub-region, Europe, 2023
58. Anti-corrosion Coatings Market: Market Share, Europe, 2016
59. Anti-corrosion Coatings Market: Unit Shipment and Revenue Forecast, Asia-Pacific, 2013–2023
60. Anti-corrosion Coatings Market: Average Price, Asia-Pacific, 2013–2023
61. Anti-corrosion Coatings Market: Percent Unit Shipment by Substrate, Asia-Pacific, 2016
62. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Substrate, Asia-Pacific, 2023
63. Anti-corrosion Coatings Market: Percent Unit Shipment by Mode of Application, Asia-Pacific, 2016
64. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Mode of Application, Asia-Pacific, 2023
65. Anti-corrosion Coatings Market: Percent Revenue by End-user Industry, Asia-Pacific, 2016
66. Anti-corrosion Coatings Market: Percent Revenue Forecast by End-user Industry, Asia-Pacific, 2023
67. Anti-corrosion Coatings Market: Percent Unit shipment by End-user Industry, Asia-Pacific, 2016
68. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by End-user Industry, Asia-Pacific, 2023
69. Anti-corrosion Coatings Market: Percent Unit Shipment by Chemistry, Asia-Pacific, 2016
70. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Chemistry, Asia-Pacific, 2023
71. Anti-corrosion Coatings Market: Percent Unit Shipment by Technology, Asia-Pacific, 2016
72. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Technology, Asia-Pacific, 2023
73. Anti-corrosion Coatings Market: Percent Revenue by Country, Asia-Pacific, 2016
74. Anti-corrosion Coatings Market: Percent Revenue Forecast by Country, Asia-Pacific, 2023
75. Anti-corrosion Coatings Market: Market Share, Asia-Pacific, 2016
76. Anti-corrosion Coatings Market: Unit Shipment and Revenue Forecast, RoW, 2013–2023
77. Anti-corrosion Coatings Market: Average Price, RoW, 2013–2023
78. Anti-corrosion Coatings Market: Percent Unit Shipment by Substrate, RoW, 2016
79. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Substrate, RoW, 2023
80. Anti-corrosion Coatings Market: Percent Unit Shipment by Mode of Application, RoW, 2016
81. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Mode of Application, RoW, 2023
82. Anti-corrosion Coatings Market: Percent Revenue by End-user Industry, RoW, 2016
83. Anti-corrosion Coatings Market: Percent Revenue Forecast by End-user Industry, RoW, 2023
84. Anti-corrosion Coatings Market: Percent Unit shipment by End-user Industry, RoW, 2016
85. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by End-user Industry, RoW, 2023
86. Anti-corrosion Coatings Market: Percent Unit Shipment by Chemistry, RoW, 2016
87. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Chemistry, RoW, 2023
88. Anti-corrosion Coatings Market: Percent Unit Shipment by Technology, RoW, 2016
89. Anti-corrosion Coatings Market: Percent Unit Shipment Forecast by Technology, RoW, 2023
90. Anti-corrosion Coatings Market: Percent Revenue by Country, RoW, 2016
91. Anti-corrosion Coatings Market: Percent Revenue Forecast by Country, RoW, 2023
92. Anti-corrosion Coatings Market: Market Share, RoW, 2016



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