Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Anti-Rust Coating market is influenced by various market factors that play a crucial role in shaping its dynamics. One of the primary factors driving the market is the increasing demand from industries where corrosion poses a significant threat to equipment and infrastructure. Industries such as automotive, construction, and marine rely heavily on anti-rust coatings to enhance the lifespan of their assets, leading to a sustained market demand.
Moreover, the growing awareness about the importance of corrosion prevention is contributing to the market's expansion. As industries become more conscious of the economic and safety implications of corrosion, there is a heightened emphasis on adopting preventive measures, boosting the demand for anti-rust coatings. This is particularly evident in regions prone to harsh environmental conditions, where the need for effective corrosion protection is even more pronounced.
The Anti-Rust Coating Market Size was valued at USD 29.89 Billion in 2022. The Anti-Rust Coating market industry is projected to grow from USD 30.5 Billion in 2023 to USD 43.56 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.4%
Technological advancements and innovations in anti-rust coating formulations also play a pivotal role in shaping the market. Manufacturers are constantly striving to develop coatings that offer superior protection, durability, and environmental sustainability. The adoption of nanotechnology in anti-rust coatings is an example of such innovation, providing enhanced corrosion resistance at a molecular level.
Market trends are significantly influenced by regulatory factors, as governments worldwide are implementing stringent environmental regulations. This has led to a shift towards eco-friendly and low-VOC (volatile organic compound) anti-rust coatings. Manufacturers are adapting their formulations to comply with these regulations, creating a market trend towards more sustainable and environmentally friendly products.
Global economic conditions and industrial activities are additional factors impacting the Anti-Rust Coating market. Economic growth in key industries directly correlates with the demand for anti-rust coatings. For instance, during periods of increased construction activities or automotive production, the demand for anti-rust coatings tends to surge. Conversely, economic downturns may lead to a temporary slowdown in the market as industries prioritize cost-cutting measures.
Competitive dynamics among market players also contribute to the evolution of the Anti-Rust Coating market. The presence of numerous manufacturers leads to intense competition, prompting companies to focus on product differentiation, pricing strategies, and geographical expansion. Mergers and acquisitions within the industry can also reshape the competitive landscape, influencing market dynamics and market share distribution.
Furthermore, the raw material prices and availability have a direct impact on the production cost of anti-rust coatings. Fluctuations in the prices of key raw materials, such as resins, pigments, and solvents, can influence the overall pricing of anti-rust coatings in the market. Manufacturers need to carefully monitor and adapt to these changes to maintain competitiveness.
Consumer preferences and end-user industries' evolving needs contribute to the market's dynamics. As consumers become more informed about the various anti-rust coating options available, their preferences may shift towards specific types or formulations based on performance, durability, and environmental considerations. Manufacturers need to stay attuned to these preferences to effectively cater to the market demands.
The Anti-Rust Coating market is shaped by a complex interplay of factors, including industry demand, technological advancements, regulatory landscape, economic conditions, competition among market players, raw material dynamics, and evolving consumer preferences. A holistic understanding of these market factors is essential for stakeholders to make informed decisions and navigate the ever-changing landscape of the anti-rust coating industry.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 6.4% (2023-2030) |
Anti-Rust Coating Market Highlights:
Global Anti-Rust Coating Market Overview
The Anti-Rust Coating Market Size was valued at USD 29.89 Billion in 2022. The Anti-Rust Coating industry is projected to grow from USD 30.5 Billion in 2023 to USD 43.56 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.4% during the forecast period (2023 - 2030). The anti-rust coating helps slow down or prevent the electrochemical reactions that adversely decorate metals' structural integrity and change their corrosion-induced appearance. The anti-corrosion coating property applies across diverse end-user industries such as marine, oil & gas, industrial, construction, and energy like power plants, solar, wind turbines, automotive, etc. The discussion includes a detailed description of the different technologies used to produce an anti-corrosion coating. Solvent-borne, waterborne, powder anti-corrosion coating, and high-energy cure coating are widely used technologies.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Anti-Rust Coating Market Trends
-
Rising Need to Remove Micronutrient Deficiency from Soil to Increase the Consumption of Anti-Rust Coating in the Agriculture Industry.
The anti-rust coating market is majorly driven by its growing demand in various sectors such as marine, infrastructure, transportation, aerospace & defense, and others. Among these, the marine is the leading segment due to the high demand for anti-rust coating in shipbuilding and boat repairing. Additionally, the increasing demand for residential construction by the growing population is expected to propel the market growth further. The use of anti-rust coating for a durable, scratch-resistant, and finished appearance in an automobile is another driver of the market. The transportation of oil & gas through pipelines increases the demand for anti-rust coating, which is expected to drive market growth during the review period.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Additionally, The increasing use of the anti-rust coating in above mentioned end-use industries coupled with technological advances is likely to propel the market growth during the assessment period 2017-2023. However, fluctuating raw material prices and stringent environmental regulations may hamper the market growth over the review period.
Anti-Rust Coating Market Segment Insights
Anti-Rust Coating type Insights
The Anti-Rust Coating market segmentation, based on type, includes Acrylic, Epoxy, Zinc, Polyurethane, and Others. Because of the increasing demand for epoxy coatings from the maritime, oil & gas, and infrastructure industries, the epoxy segment accounted for the largest market.
Anti-Rust Coating Technology Insights
Based on Technology, the Anti-Rust Coating market segmentation includes Waterborne Anti-Corrosion coating, Solventborne Anti-Corrosion Coating. The rising use of solvent-borne technology to develop anti-corrosion coatings fuels the expansion of the market.
Anti-Rust Coating End-user Insights
Based on End-user, the Anti-Rust Coating market segmentation includes Automotive & Transportation, Oil and Gas, Marine, Chemical & fertilizers, and Others. The marine type of end-user industry is accounted for a high share extending the market.
Figure 2: Anti-Rust Coating Market, by Technology, 2023 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Anti-Rust Coating Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific is the leading region in anti-rust coating due to the increasing demand from end-use industries such as infrastructure, automotive, and transportation. Developing countries such as China, India, Japan, and Indonesia are expected to fuel the market growth on account of the modernization of infrastructure, growing demand from end-use industries coupled with a growing population. China is the largest market in the regional market, in terms of value due to its rapidly growing building and construction industry in this region. China is followed by India, Japan, Thailand, Vietnam, and others due to the huge demand for the product in the shipbuilding, marine, infrastructure, and automotive, sectors.
Figure 3: ANTI-RUST COATING MARKET SHARE BY REGION 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Latin America is expected to showcase positive growth owing to the increasing industrial activities in the marine and oil & gas industries, especially for on & offshore drilling machinery, and the presence of a large number of oil deposits in Brazil and Venezuela.
The U.S. is the major contributor to the anti-rust coating market due to its expanding applications in the automotive industries in the North American region.
Europe is expected to experience slow growth owing to the stringent environmental regulations. For instance, under Directive 2004/42/CE of the European Parliament on the limitation of emissions of volatile organic compounds due to the use of organic solvents in certain paints and varnishes and vehicle refinishing products. These regulations are cited as European Union (Paints, Varnishes, Vehicle Refinishing Products, and Activities) Regulations 2012. Nevertheless, in Eastern Europe wherein Russia is the only driver of the anti-rust coating market due to the growing demand from industrial, decorative, and others applications.
Anti-Rust Coating Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Anti-Rust Coating market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Anti-Rust Coating industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Anti-Rust Coating. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Anti-Rust Coating industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Anti-Rust Coating industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Anti-Rust Coating market players, including Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (U.S.), Axalta Coating Systems Ltd. (U.S.), BASF SE (Germany), and others, are attempting to increase market demand by funding R&D initiatives.
AkzoNobel is a company that manufactures paints and coatings. It offers products such as decorative paints, automotive, specialty, marine, protective, yacht, industrial, and powder coatings. The company operates several brands, such as AkzoNobel, Alabastine, Alba, Apla, Cetol, Coral, Dulux, Flexa, Glitsa, Herbol, and Lesonal.
Also, BASF is a company that provides petrochemicals, intermediates, performance materials, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals. It conducts its operations through six business segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions.
Key Companies in the Anti-Rust Coating market include
-
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.)
-
Dow Dupont (U.S.)
-
Bluechem (Africa)
-
Chugoku Marine Paints Ltd. (Japan)
-
Clariant (Switzerland)
Anti-Rust Coating Industry Developments
It was in March 2023 when PPG Industries launched a primer powder named PPG ENVIROCRON Primeron, which is intended to guard and provide better corrosion protection to metal substrates such as aluminium, metalized steel, and hot-dip galvanized steel.
In June 2022, Hempel unveiled an innovative CUI coating that dries quickly and is effective against corrosion under insulation. This coat improves efficiency in oil and gas facilities as well as energy generation plants while protecting them from rusting.
Thereafter, PPG announced in April 2022 the completion of the acquisition of Arsonsisi, a Milan-based subsidiary that specializes in manufacturing powder coatings.
By January 2022 AGM had rolled out Genable Epoxy Primer – Industrial anti-corrosion primers; Genable HC Primer. Furthermore, not only did they expand their Genable 3000 dispersion series but also introduced non-metallic active anti-corrosion graphene additives.
Russian manufacturer United Metallurgical Company (OMK), which is known for manufactruing high-speed railway wheels, launched a new production line for wheel protective coatings in March 2022.
In addition, in March 2022, PPG introduced AMERLOCK 600, a versatile multipurpose epoxy coating. It is worth noting that all AMERLOCK family coatings are highly resistant to corrosion, even in severe environmental conditions.
Anti-Rust Coating Market Segmentation
Anti-Rust Coating Type Outlook
-
Acrylic
-
Epoxy
-
Zinc
-
Polyurethane
-
Others
Anti-Rust Coating Technology Outlook
-
Waterborne Anti-Corrosion Coatings
-
Solventborne Anti-Corrosion Coating
Anti-Rust Coating End-user Outlook
-
Automotive & Transportation
-
Oil and Gas
-
Marine
-
Chemical & Fertilizer
-
Others
Anti-Rust Coating Regional Outlook
-
North America
-
US
-
Canada
-
-
Europe
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
-
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
