PUBLISHER: The Business Research Company | PRODUCT CODE: 1658924
PUBLISHER: The Business Research Company | PRODUCT CODE: 1658924
Corrosion protection coatings are solutions employed to prevent metal degradation caused by environmental factors such as exposure, oxidation, and moist air. These coatings add a protective layer to metal surfaces and can be made from materials like zinc or iron, applied in various forms such as a base layer, primer, or topcoat.
The main types of corrosion protection coatings include epoxy, polyurethane, zInc., alkyd, acrylic, chlorinated rubber, and others. Epoxy, for instance, is a polymer composed of carbon chains connected to elements like hydrogen, oxygen, or nitrogen. Epoxy coatings offer optimum protection against mechanical erosion and electrochemical attack. Various technologies, including water-based, solvent-based, powder-based, and others, are utilized in industries such as marine, oil and gas, petrochemical, infrastructure, power generation, water treatment, among others.
The corrosion protection coating market research report is one of a series of new reports from The Business Research Company that provides corrosion protection coating market statistics, including corrosion protection coating industry global market size, regional shares, competitors with a corrosion protection coating market share, detailed corrosion protection coating market segments, market trends and opportunities, and any further data you may need to thrive in the corrosion protection coating industry. This corrosion protection 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 corrosion protection coating market size has grown strongly in recent years. It will grow from $17.82 billion in 2024 to $18.93 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to infrastructure development, automotive sector growth, increased focus on sustainable construction, rise in industrial manufacturing, aerospace industry requirements.
The corrosion protection coating market size is expected to see strong growth in the next few years. It will grow to $24.98 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to demand for eco-friendly coatings, expansion of the energy sector, growing focus on asset longevity, water and wastewater treatment, stringent environmental regulations. Major trends in the forecast period include shift towards waterborne coatings, advancements in nanotechnology, adoption of smart coatings, demand for UV-curable coatings, shift towards powder coatings, development of anti-corrosion coating technologies.
The expanding oil and gas industry is anticipated to drive the growth of the corrosion protection coatings market. Economic growth plays a key role in increasing the demand for oil and gas products. This heightened demand for oil and gas subsequently boosts the need for corrosion protection coatings, which safeguard steel structures in the oil, gas, and petrochemical industries from corrosion. For example, in March 2023, the US Energy Information Administration, a federal agency responsible for collecting and analyzing energy data, reported an increase in U.S. crude oil production to 12.4 million barrels per day (b/d) in 2023, up from a record high of 11.7 million b/d in 2022. Additionally, in September 2022, U.S. natural gas consumption reached an average of 86.6 billion cubic feet per day (Bcf/d), marking the highest annual usage of natural gas compared to the previous year. Thus, the rising demand for oil and gas will fuel the growth of the corrosion protection coatings market.
The growth of the industrial sector is expected to drive the expansion of the corrosion protection coatings market in the future. The industrial sector encompasses economic activities focused on the production of goods and services through the transformation of raw materials and resources. This sector, which fuels infrastructure projects such as building construction, bridge development, and transportation system expansion, greatly increases the need for corrosion protection coatings to ensure the durability and strength of the developed assets. For example, in July 2023, a report from Statistics Canada, a government agency, revealed that about 19.5% of businesses in the manufacturing sector planned to expand their current locations within the next 12 months, more than double the percentage seen in the arts, entertainment, and recreation sector (8.2%) and nearly triple the overall business average (6.7%). Around 9.0% of manufacturing businesses intended to expand to other locations within the same province, a figure similar to those in administrative, support, waste management, and remediation services (9.1%). Furthermore, over 5.5% of manufacturing businesses aimed to expand internationally, aligning with similar aspirations from 5.3% of arts, entertainment, and recreation businesses, and 4.5% in wholesale trade. As a result, the expanding industrial sector is contributing to the growth of the corrosion protection coatings market.
Technological innovations stand out as a prominent trend in the corrosion protection coating market, with companies like Hempel introducing fast-drying coatings that enhance productivity and corrosion protection. For instance, in June 2022, Hempaprime CUI 275, a fast-drying, alkylamine-cured epoxy paint, has proven effective in energy generation, oil and gas facilities, offering short overcoating intervals and broad temperature resistance.
Moreover, major players in the corrosion protection coatings market are focusing on product innovation, exemplified by the introduction of corrosion control powder coatings. This method involves applying a dry powder onto metal surfaces to prevent corrosion and enhance durability. For instance, in June 2023, Akzo Nobel N.V., a Netherlands-based company, launched Interpon Redox, a high-performance powder coating designed for corrosion control. The portfolio includes systems tailored to address diverse substrates, surfaces, and environmental conditions, showcasing a commitment to meeting the needs of a varied customer base.
In May 2024, Acuren Group Inc., a US-based inspection services provider, acquired Advance Coating Solutions Inc. for an undisclosed sum. This acquisition is intended to expand Acuren's expertise in surface treatment and coating technologies, further solidifying its position as a top provider of nondestructive testing (NDT) services. Advance Coating Solutions Inc. is a Canada-based company specializing in corrosion coatings.
Major companies operating in the corrosion protection coating market are Jotun A/S, Hempel A/S, RPM International Inc., Akzo Nobel N.V., The Sherwin-Williams Company, BASF SE, Axalta Coating Systems LLC, PPG Industries Inc., 3M Company, Koninklijke DSM N.V., Heubach GmbH, Renner Herrmann S.A., The Magni Group Inc., Wacker Chemie AG, Bluechem Group, Nippon Paint Holdings Co. Ltd., Rust-Oleum Corporation, Krylon Products Group, Valspar Corporation, Henkel AG & Co. KGaA, Sika AG, The Dow Chemical Company, Covestro AG, Berger Paints India Limited, Chugoku Marine Paints Ltd., Hempel (USA) Inc., Carboline Company, International Paint Ltd., Sherwin-Williams Protective & Marine Coatings, Tnemec Company Inc., Ameron International Corporation
Asia-Pacific was the largest region in the corrosion protection coating market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the corrosion protection coating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the corrosion protection coating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The corrosion protection coating market consists of sales of inorganic zinc coatings. 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.
Corrosion Protection Coating Global Market Report 2025 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 corrosion protection 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 corrosion protection coating ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The corrosion protection 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.