Recently, the market research organization Global Market Insights released a research report. The report shows that the global anti-corrosion coatings market will reach US$20.21 billion by 2024, with a compound annual growth rate About 5%.
The report points out that the rapid development of the global anti-corrosion coatings market is mainly stimulated by the continued growth in energy demand. The energy field includes oil and gas engineering, nuclear power engineering, biomass energy, hydraulic engineering, solar energy and coal energy, etc. Anti-corrosion coatings can effectively protect energy facilities operating in harsh environments. For example, solar installations are susceptible to environmental moisture, and anti-corrosion coatings offer a variety of solutions. In addition, the global population is expected to exceed 9 billion in the future, which will further stimulate demand for clean energy and promote the transformation and development of industrial structure.
Research points out that the global construction industry exceeded US$8 trillion in 2015 and will reach US$16 trillion by 2024. The annual compound growth rate is more than 7%. With the continuous deepening of technological innovation and the booming development of the construction industry, the demand for metal structural materials continues to increase. Consumer demand for anti-corrosion coatings has also increased. Anti-corrosion coatings not only do not affect the structural strength of the material, but also make the surface more beautiful.
In addition, the oil and gas industry also has a greater impact on the development of the anti-corrosion coatings market. A large number of facilities such as drill bits, drill pipes, oil storage tanks, etc. are working in underground water and muddy ground and require anti-corrosion coating. Research points out that the strong development of the oil and gas industry has promoted the development of the anti-corrosion coatings market, and the production of new energy sources (such as shale gas, oil sands, oil shale, etc.) in the oil and gas industry has also boosted the development of the anti-corrosion coatings market. . It is worth noting that some coating raw materials such as ethylene, benzene, toluene, naphthalene, etc. are affected by the crude oil supply system, which will affect the price of anti-corrosion coatings. Moreover, the strict implementation of VOC regulations also directly affects the market structure of anti-corrosion coatings. However, The growing demand for water-based anti-corrosion coatings will bring new growth space for market development.
The analysis also pointed out that (1) epoxy anti-corrosion coating has excellent wear resistance, alkali resistance, acid resistance and water resistance, and its market growth rate is expected to exceed 4.5%; (2) In 2015, the consumption of anti-corrosion coatings on infrastructure exceeded one billion US dollars; (3) Water-based anti-corrosion coatings are supported by policies and have a significant growth rate. For example, the US anti-corrosion coatings market has a compound annual growth rate of more than 4.5%; (4) the Asia-Pacific region, especially China, India, and Japan, are mainly stimulated by the strong development of the construction industry, and the annual compound growth rate of their anti-corrosion coatings markets is expected to exceed 5%; (5) Competition in the anti-corrosion field is extremely fierce. Companies involved in this field mainly include: Ashland, Axalta Coating, Hempel, BASF, Akzo Nobel, Jotun, Kansai Paints, PPG Industries, RPM International, etc.
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