PUBLISHER: The Business Research Company | PRODUCT CODE: 1615091
PUBLISHER: The Business Research Company | PRODUCT CODE: 1615091
Zinc-rich coatings are a type of paint or layer that features a high concentration of zinc. These coatings are utilized to safeguard metal surfaces from corrosion by creating a protective barrier and serving as a sacrificial anode. They play a crucial role in enhancing the longevity and durability of metal structures.
The primary types of zinc-rich coatings are organic and inorganic. Organic zinc-rich coatings employ organic binders such as epoxy or polyurethane to achieve elevated zinc levels, offering excellent corrosion resistance. They are typically used in environments subject to moisture and chemicals. Applications for these coatings include medical instruments, aerospace components, automotive parts, and more, serving end users in sectors such as automotive, marine, oil and gas, construction, and infrastructure.
The zinc rich coating market research report is one of a series of new reports from the business research company that provides zinc rich coating market statistics, including zinc rich coating industry global market size, regional shares, competitors with an zinc rich coating market share, detailed zinc rich coating market segments, market trends and opportunities, and any further data you may need to thrive in the zinc rich coating industry. This zinc rich coating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The zinc rich coating market size has grown rapidly in recent years. It will grow from $1.33 billion in 2023 to $1.47 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The expansion observed in the historical period can be linked to the surge in industrialization, development of infrastructure, an increased emphasis on maintenance and repair, innovations in chemical engineering, and the early adoption of practices in heavy industries such as construction and manufacturing.
The zinc rich coating market size is expected to see rapid growth in the next few years. It will grow to $2.21 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The anticipated growth in the forecast period can be ascribed to the rise in infrastructure projects, escalating industrial maintenance requirements, heightened demand for corrosion protection, improvements in coating technology, and more stringent environmental regulations. Key trends expected during the forecast period include a greater emphasis on sustainable construction, an increase in marine and offshore applications, developments in eco-friendly formulations, rising demand in emerging markets, and improved performance characteristics.
The growing demand for maritime vessels is projected to drive the expansion of the zinc-rich coating market in the future. Maritime vessels include ships and boats designed for navigation across oceans, seas, and other bodies of water, fulfilling various roles such as cargo transport, passenger travel, and naval activities. This increased demand for marine vessels stems from global trade and the need for efficient, cost-effective shipping of goods across international waters. The challenging marine environment subjects ships and structures to seawater, salt spray, and humidity, which accelerate metal corrosion. Zinc-rich coatings serve to protect marine vessels from corrosion and act as a primer in multi-coating systems. For example, the United Nations Conference on Trade and Development reported in January 2023 that global merchant fleet registrations reached 105,000 in 2023, reflecting a 2.4% increase from 103,000 in 2022. Furthermore, shipbuilding activities were primarily concentrated in China, the Republic of Korea, and Japan, which together accounted for 93% of the global market share. Thus, the rising demand for maritime vessels is expected to drive growth in the zinc-rich coating market.
Key players in the zinc-rich coating market are prioritizing the development of environmentally friendly protective solutions, such as isocyanate-free coatings, to improve corrosion resistance and prolong asset lifespan. These innovative coatings enhance corrosion protection while ensuring safety and environmental compliance by eliminating harmful isocyanates from their formulations. For instance, in April 2023, Tnemec Company, Inc., a U.S.-based manufacturer of architectural and industrial coatings, launched Series 90-75 Tneme-Zinc, a water-based zinc-rich epoxy primer. This primer provides enhanced protection for steel surfaces in various environments and complies with LEED v4.1 Low-Emitting Materials credit requirements. The isocyanate-free formula features ultra-low VOC content, cures quickly, and creates an open network polymer structure in the dry film, which improves conductivity between zinc particles for superior galvanic corrosion protection. Tneme-Zinc meets AISC Class B surface standards and is available in a reddish-gray shade.
In April 2022, The Sherwin-Williams Company, a U.S. industrial paint and coating manufacturer, acquired a European industrial coatings business from Sika AG for an undisclosed amount. This acquisition enhances Sherwin-Williams' product portfolio, particularly in corrosion protection systems, allowing the company to cater to a variety of sectors, including infrastructure, energy, and critical industrial coatings. Sika AG, based in Switzerland, specializes in industrial coating solutions such as zinc-rich coatings.
Major companies operating in the zinc rich coating market are BASF SE, The Sherwin-Williams Company, PPG Industries Inc, Akzo Nobel N.V., Sika AG, Axalta Coating Systems Ltd, Kansai Paint Co. Ltd., Hempel A/S, Jotun Group, Carboline Company, ChemPoint Inc, Pioneer Metal Finishing LLC, KTA-Tator Inc, Grand Polycoats Company, Specialized Coating Systems Pty Ltd, Dulux Protective Coatings, Rainbow Technology Corp, Anochrome Group, Baril Coatings USA, Advance Paints Pvt Ltd, ZRC Worldwide, J Harlen, Rust Bullet Australia, Thomas Howse Ltd, Toa Chugoku Paints Pvt Ltd, Zigma Paints Pvt Ltd
North America was the largest region in the zinc rich coating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the zinc rich coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the zinc rich coating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The zinc rich coating market consists of sales of zinc-rich paints, primers, powder coatings, spray coatings and galvanizing compounds. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Zinc Rich Coating 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 zinc rich coating 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 zinc rich coating ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The zinc rich coating 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.