The global anti-corrosion coatings market size was USD 34.8 billion in 2022 and is projected to reach USD 43.3 billion by 2028, at a CAGR of 3.6% between 2023 and 2028. The global anti-corrosion coatings market is growing at a high rate due to the increased demand from various sectors. The Asia Pacific accounted for the major share of the overall market in 2022. Huge demand from the Asia Pacific region is drives the anti-corrosion coating market. Over the past ten years, China's industrialization has accelerated due to changes in industrial policies, the liberalisation of foreign trade and investment, and other factors.
The key players following the strategies between 2018 to 2022 PPG Industries, Inc. (US), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), Jotun A/S (Norway), Kansai Paints Co., Ltd. (Japan). The companies are majorly following product launch, merger & acquisition, and expansion as the strategy to grow and expand the market.
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PPG Industries, Inc. manufactures and distributes coatings, paints, optical products, and specialty materials. The company operates in two segments, namely, performance coatings, and industrial coatings. The company offers anti-corrosion coatings through the Performance Coatings segment. It also provides industrial and automotive coatings to the manufacturing industries; adhesives and sealants to the automotive industry; metal pretreatments and related chemicals for the industrial & automotive applications; and packaging coatings to aerosol and food & beverage container manufacturers. In addition, the company offers architectural coatings used by painting and maintenance contractors and by consumers to decorate and maintain residential and commercial building structures. PPG Industries Inc. has a strong customer base and operates in many countries in Europe, North America, Asia-Pacific, the Middle East & Africa, and South America. The company has 156 manufacturing facilities, globally.
AkzoNobel N.V. is a leading manufacturer of decorative paints and industrial coatings, globally. The company operates its business through two segments, namely, Decorative Coatings and Performance Coatings. It offers anti-corrosion coating through both the segments. AkzoNobel N.V. has a strong customer base and operates in countries in Europe, North America, Asia Pacific, South America, and the Middle East. The company has over 28 manufacturing facilities and sales activities in more than 150 countries across the globe. It has a wide product portfolio which includes brands such as Dulux, Sikkens, Butanox, Elotex, International, and Interpon.
Anti-Corrosion Coating Market by Type (Epoxy, Polyurethane, Acrylic, Alkyd, Zinc), Technology (Solvent borne, Waterborne, Powder-based), End-Use Industry (Marine, Oil & Gas, Industrial, Infrastructure, Power Generation), & Region - Global Forecast to 2028
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