According to a February 2015 report from wallstreet:online, the anti-corrosion coating market could be worth upwards of $26.5 billion by 2019. It states that, “Power generation, infrastructure, and automotive & transportation industry [are] to be the drivers for the anti-corrosion coating market.”
These three industries are the highest growing segments for the anti-corrosion coating market. Huge losses, both financial and otherwise, that result from corrosion, demand from end-use industries, and technological development are the major drivers for the increase in growth.
The marine sector emerged as the largest end-use industry for anti-corrosion coatings in 2013 and is estimated to experience a slow growth until 2019. Advanced techniques in industries like oil & gas and chemical processing are set to further boost the growth of the anti-corrosion coating market.
The report also states that acrylic based anti-corrosion coatings will see the highest growth. Epoxy based coatings dominated the market in 2013, but acrylic based coatings are expected to grow due the increasing environmental regulations and the switch from solvents to more water-based products. Polyurethane based anti-corrosion coatings are also projected to see substantial growth through 2019.
Keep checking back here on Industrial Outpost, as we continue to update you with the value of our industries moving forward into the future.