PUBLISHER: The Business Research Company | PRODUCT CODE: 1539805
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539805
Surface protection service involves the application of protective coatings, films, or treatments on different surfaces to improve their durability, longevity, and performance. These services are essential across industries to shield surfaces from corrosion, abrasion, chemicals, and environmental elements, thereby prolonging asset lifespan, reducing maintenance expenses, and enhancing operational efficiency.
The primary services within surface protection include corrosion protection coating, mechanical protection coating, electroplating, thermal spray, and others. Corrosion protection coating specifically entails applying protective layers on metal surfaces to prevent rust and other forms of corrosion triggered by environmental factors such as moisture and chemicals. Applications span various sectors including manufacturing, oil and gas, mining, power generation, aerospace and defense, and other industries.
The surface protection service market research report is one of a series of new reports from The Business Research Company that provides surface protection service market statistics, including the surface protection service industry global market size, regional shares, competitors with surface protection service market share, detailed surface protection service market segments, market trends, and opportunities, and any further data you may need to thrive in the surface protection service industry. These surface protection service market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The surface protection services market size has grown rapidly in recent years. It will grow from $14.44 billion in 2023 to $17.06 billion in 2024 at a compound annual growth rate (CAGR) of 18.2%. The growth observed in the historical period can be attributed to increased awareness of asset protection, stringent safety and environmental regulations, cost-effectiveness and financial benefits, consumer demand for high-quality products, and greater adoption within the automotive sector.
The surface protection services market size is expected to see rapid growth in the next few years. It will grow to $33.60 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The anticipated growth in the forecast period can be linked to the expanding urbanization and industrialization, advancements in technology, growth of the aerospace and defense sectors, expansion in end-user industries, and heightened awareness of asset protection. Key trends expected during this period encompass technological innovations, the rise of green technologies, specialization for various applications, automation and technological advancements, as well as increased investments in research and development activities.
The anticipated growth of the surface protection services market is expected to be driven by the expansion of the renewable energy sector. This sector encompasses industries, technologies, and services involved in generating, distributing, and utilizing energy from renewable sources. The growth in renewable energy is fueled by increasing awareness and concern about climate change, advancements in battery technology and other energy storage solutions, as well as government subsidies, tax incentives, and grants. Surface protection services are crucial in the renewable energy sector as they provide protective coatings and treatments for components such as solar panels, wind turbine blades, and hydroelectric equipment. For example, according to the Office for National Statistics, a UK government agency, the turnover of the UK's low carbon and renewable energy economy (LCREE) rose by 28.0% between 2021 and 2022, reaching £69.4 billion ($87.88 billion). This growth underscores how the expansion of the renewable energy sector is driving demand within the surface protection service market.
Leading companies in the surface protection service market are actively innovating their product offerings, such as the development of copper nozzles tailored for specific material properties and capabilities in thermal spraying processes. These nozzles are designed to deliver effective surface protection through attributes such as corrosion resistance, antimicrobial properties, thermal conductivity, and aesthetic appeal, catering to diverse industrial applications. An example of this innovation is seen with Hardide Coatings, a US-based company specializing in advanced surface coating technology. In March 2024, they introduced the initial model from their new series of Hardide-enhanced components, featuring a 4-inch JP-5000 copper nozzle optimized for high-velocity oxy-fuel (HVOF) thermal spray coating. The utilization of such copper nozzles facilitates the creation of robust, high-performance surface coatings on components, highlighting the efficacy of copper in enhancing surface protection services.
In January 2022, Integrated Global Services Inc., a US-based provider of thermal spray surface protection solutions, acquired AmStar for an undisclosed sum. This acquisition aims to broaden Integrated Global Services' portfolio of corrosion and erosion-resistant coatings. AmStar, also based in the US, specializes in surface protection services.
Major companies operating in the surface protection service market are BASF SE, 3M Company, The Sherwin-Williams Company, PPG Industries Inc., DuPont, Akzo Nobel N.V., Sulzer Ltd., Oerlikon Management AG, SMS group GmbH, POLIFILM, Fisher Barton, TWI Ltd., Integrated Global Services Inc., T.F. Warren Group, Praxair Technology Inc., Plasma Technology Incorporated, ASB Industries, Spence Corrosion Services Ltd., A&A Thermal Spray Coatings, PARAGON PROTECTIVE COATINGS (PPC) LTD.
Asia-Pacific was the largest region in the surface protection services market in 2023. The regions covered in the surface protection service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the surface protection service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The surface protection services market includes revenues earned by entities by providing services such as coating, lamination, cleaning, polishing, rust inhibition, surface preparation, adhesive application, protective films, and consulting services to protect surfaces from damage and environmental factors. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Surface Protection Service Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on surface protection service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for surface protection service ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The surface protection service market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.