Anti-Corrosion Coating Market Scope
The global anti-corrosion coating market is expected to grow at a slow pace during the forecast period, according to the AMA study. Increasing demand from automotive along with aerospace & defense sector and rising losses due to corrosion are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a slight decline in the growth during the next few years but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
The Anti-Corrosion Coating market study is segmented by Type (Epoxy, Polyurethane, Acrylic, Zinc, Alkyd and Others) and major geographies with country level break-up.
The vendors in this market are majorly focusing on providing innovative services in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Anti-Corrosion Coating market throughout the predicted period.
PPG Industries, Inc. (United States), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (United States), Axalta Coating Systems LTD. (United States), BASF SE (Germany), Hempel A/S (Denmark), Jotun (Norway), Ashland Inc. (United States), RPM International Inc. (United States) and Kansai Paint Co., LTD (Japan) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AMA Research has segmented the market of Global Anti-Corrosion Coating market by Type, Application and Region.
On the basis of geography, the market of Anti-Corrosion Coating has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In March 2020, AkzoNobel announced that it has launched new wave of water-based paint along with its quick-drying formulation, which was developed as part of AkzoNobel’s Waterway initiative – a multi-year strategic program designed to lead the decorative paints market towards using more water-based product ranges.
Stringent Worldwide Government Regulations Regarding Shutting Down Cities Across Different Countries of the World to Avoid the Spread of COVID-19
Market Trend
- Increasing Adoption of Advanced Material-based Components Across Different Industries
Market Drivers
- Increasing Demand from Aerospace & Defense and Automotive Industries
- Rising Losses Due to Corrosion
- Growing Demand from Construction Sector
Opportunities
- Opportunities Across the Asia Pacific Region
Restraints
- The Outbreak of COVID-19 Pandemic is one of the Major Restraints for the Market as Most of the Industries have been Facing Economic Crisis Across the World
Challenges
- The Downfall of Aerospace & Defense and Construction Sector at Current Situation Due to Reduced Demand for Aircraft