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Anti-corrosion or corrosion-resistant coatings protect metal surfaces from degradation caused by moisture, oxidation, or exposure to chemicals. Anti-corrosion coatings form a protective layer on the substrate and act as a barrier between substrate and chemicals or corrosive substances thereby increasing the lifespan of the metal component. In addition to corrosion, the coatings also provide protection against weathering, impact, abrasion, and can withstand high temperatures. The solvent-borne preparations are preferred for applications in automotive, printing inks, and industries. Changing climate and weather conditions have made materials more susceptible to corrosion, thereby raising the demand for anti-corrosion coatings.
Key Market Driver -
Development of infrastructures globally
Key Market Restraint -
Fluctuating prices of raw materials
The key market driver for the global anti-corrosion market is the development of infrastructures globally. The increase in the number of infrastructures means increased demand for anti-corrosion coatings for the protection of materials against moisture, chemicals, greases, and weathering. The above reason is expected to act as a market driver for the global anti-corrosion coatings market.
Key market restraint for the global anti-corrosion coatings market is the fluctuating prices of raw materials. Majority of raw materials such as acrylic, epoxies, and alkyds required for the production of anti-corrosion coatings are derived from petroleum. Fluctuations in crude oil prices would cause a severe impact on the cost of raw materials.
Based on type, the market is segmented into epoxy, polyurethane, acrylic, alkyd, zinc, chlorinated rubber, and others. Based on technology, the market is segmented into solvent-borne, water-borne, and powder coating. Based on application, the market is segmented into marine, industrial, oil & gas, infrastructural, automotive & transportation, power generation, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Some of the notable companies in the global cold flow improvers market are Akzo Nobel N.V., PPG Industries Inc., Axalta Coating Systems, The Sherwin-Williams Company, BASF SE, Kansai Paint Co. Ltd., Valspar Corporation, Asland Inc., Jotun, RPM International Inc., and other key players.
The global cold flow improvers market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific holds the maximum share of global anti-corrosion coatings due to the increasing requirement of anti-corrosion coating from various industries such as infrastructure, power generation, and oil & gas. The rising need to harness renewable energy in this region is another reason for the growth in Asia Pacific.
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North America is anticipated to witness significant growth in demand for anti-corrosion coatings due to increasing demand from marine, oil & gas, and power generation industries. In Europe, the reviving automotive sector supposedly will grow the demand for anti-corrosive coatings. In Latin America, growing infrastructural and industrial activities are expected to improve the anti-corrosion coatings market in this region. Rising oil exploration activities in the Middle East & Africa region will propel the demand for anti-corrosive coatings.
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