Corrosion Protective Coatings Market 2022 Share, Key players , Revenue, Regional Analysis and Forecast 2028|

 

Corrosion protective coatings are used to protect metal and concrete structures from the damaging effects of corrosion. These coatings prevent the oxidation of metal surfaces by forming a barrier between the metal and the surrounding environment. Corrosion protective coatings are used in various applications, including oil and gas, marine, automotive, aerospace, and construction.

Market Overview:

The global corrosion protective coatings market size was valued at USD 25.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. The increasing demand for corrosion protective coatings in various end-use industries, such as oil and gas, marine, and automotive, is expected to drive the market's growth.

Applications: Corrosion protective coatings are used in various applications, including:

• Oil and gas
• Marine
• Automotive
• Aerospace
• Construction

Corrosion protective coatings provide various benefits, such as increasing the lifespan of structures, reducing maintenance costs, and improving safety. They are used in a wide range of end-use industries, such as oil and gas pipelines, offshore platforms, bridges, and buildings.

Regional Analysis: The Asia Pacific region is expected to dominate the corrosion protective coatings market during the forecast period, owing to the increasing demand for these coatings in various end-use industries, such as oil and gas, marine, and automotive. China and India are the major contributors to the growth of the market in the Asia Pacific region.

North America is another significant market for corrosion protective coatings, driven by the increasing demand for high-performance coatings in various end-use industries, such as oil and gas and marine. The United States is the largest consumer of corrosion protective coatings in the North American region.

Europe is also expected to witness significant growth in the corrosion protective coatings market, owing to the increasing demand for these coatings in various end-use industries, such as automotive and construction.

Key Players:

Some of the major players operating in the global corrosion protective coatings market include PPG Industries Inc., AkzoNobel N.V., The Sherwin-Williams Company, Hempel A/S, Jotun A/S, and Kansai Paint Co., Ltd. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to expand their presence in the market.

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