Anti-Rust Coating Market Overview | Size, Potential Impact, Despite COVID-19, Scope and Forecast
Market Overview
Anti-rust coating overview
is used to prevent corrosion of metals from moisture, humidity, salt spray, and
exposure to a variety of environmental or industrial chemicals.
Technologically,
the anti-rust coating is manufactured as solvent-based, waterborne, powder
coating, and UV cured. Presently, the waterborne coating is the largest segment
driving the market growth due to the low emission of VOCs. The powdered coating
is an excellent choice due to its zero VOC emission and environmentally
friendly nature. It also offers properties such as durability, scratch
resistance, resistance to chalking, gloss retention, and improved coating
efficiency. Additionally, it qualifies American Architectural Manufacturing
Association (AAMA) specifications for an eco-friendly process. Although solvent-based
coating offers superior properties such as less drying time and block resistant
feature, it has high VOC content. Anti-rust coating market is primarily driven
by its application in various end-use industries such as marine, oil & gas,
shipbuilding, infrastructure, transportation, aerospace & defense, and
others. Offshore and civilian marine industries demand anti-rust coating for
shipbuilding and boat repairing due to its cost-effectiveness and superior
properties of water and corrosion resistance. Sophisticated drilling, wellhead,
and subsea equipment demand anti-rust coating for oil & gas exploration and
extraction. The properties such as scratch resistance, glossy appearance,
lesser drying period are extensively required in automotive, infrastructure,
and transportation, which is likely to surge the market growth during the
forecast period.
Market Segmentation
The global Anti-Rust
Coating Market Overviews is
segmented on the basis of the type, technology, end-use industry, and region.
On the basis of the
types, the global anti-rust coating market is segmented into epoxy,
polyurethane, acrylic, alkyd, zinc, chlorination, and others.
Based on the
technology, the global market is categorized into solvent-based, waterborne,
powder coating, and UV cured.
On the basis of the
end-user industries, the global market is segregated into marine, oil &
gas, power generation, shipbuilding, infrastructure, transportation, aerospace
& defense, and others.
Regional Analysis
The global Anti-Rust
Coating market overview is segmented
into five major regions Asia Pacific, North America, Latin America, the Middle
East & Africa, and Europe.
The Asia Pacific is
expected to emerge as the largest region in the global the anti-rust coating
market due to high demand from end-use industries such as building &
construction, transportation, and automotive. China is the largest market in
terms of value in this region on account of the largest building &
construction sector. India, Japan, Indonesia, Malaysia, and other countries
contributing to the market growth on account of the growing end-user
industries.
Presence of a large
number of oil deposits in Brazil and Venezuela fuels the regional market growth
in Latin America. Exploring and drilling activities for oil & gas reserves
drive the market growth in this region.
North America is
another substantial region in the anti-rust coating market growth due to the
product use in automotive and aerospace & defense industries. The U.S.
accounted for a major market share owing to the growing automotive and use in
the aerospace & defense sector.
The Middle East
& Africa is expected to witness market growth due to the abundant
availability of oil & gas deposits in countries such as Saudi Arabia and
the UAE.
Europe is likely to
witness a sluggish growth owing to European Union Regulations 2012 on VOC
emission.
Competitive
Analysis
Some of the
prominent manufacturers in the global market of anti-rust coating overview are
Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (U.S.), Axalta Coating
Systems Ltd. (U.S.), BASF SE (Germany), The Sherwin-Williams Company (U.S.),
Ashland Inc. (U.S.), Kansai Paint Co., Ltd. (Japan), Hempel A/S (Denmark),
Nippon Paints Co. Ltd (Japan), Jotun (Norway), RPM International Inc. (U.S.),
DowDupont (U.S.), Bluechem (Africa), Chugoku Marine Paints Ltd. (Japan), and
Clariant (Switzerland).
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