Global High Performance Anti-corrosion Coatings Investigation and Growth Forecasted Until the End of 2023

Albany, USA, 2018-May-03 — /EPR Network/ —Market Research Reports Search Engine (MRRSE) has recently updated its massive research catalog by adding a new study, titled “High Performance Anti-corrosion Coatings”. The study offers a clear insight about the prevailing trends and innovations happening in the High Performance Anti-corrosion Coatings Market. Readers can further access details about research highlights and executive summary to gain a better idea about this assessment. The market overview covers key industry developments and market opportunity map during the mentioned forecast period. In addition, a holistic view of the entire global market scenario across all the prime regional segments, such as (Regions) has been delivered.

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The thriving infrastructural development in developed and developing regions of the world has triggered a demand for protective high performance anti-corrosive coatings, reports MRRSE. To keep up with the demand, players in this market are expanding their production facilities and making strategic collaborations with regional players to enter new markets. For instance, 3M Company joined hands with Russell NDE/PICA Corporation that will give the former player a chance to strengthen its position in the U.K., Canada, and the U.S.

“The top three leading players, Akzo Nobel N.V., Nippon Paint Co., Ltd., PPG Industries Inc., and The Sherwin-Williams Company, collectively held a more than half of the shares in the global high performance anti-corrosion coatings market in 2017,” says the lead author of this research report. To maintain a competitive edge in the overall market competitors are investing in result-oriented research and development activities and focusing on launching sustainable coating products.

According to the research report, the opportunities in the global high performance anti-corrosion coatings market will be worth US$18.22 bn in 2023 as compared to US$13.64 bn in 2017. This translates to a CAGR of 5.0% between 2017 and 2023. The oil and gas industry will be the leading end user of high performance anti-corrosion coatings, accounting for 32.1% of the total share in the market in 2017. This end user segment will capture a share of 32.3% by the end of 2023. In terms of geography, Asia Pacific will dominate the global market at a positive CAGR of 5.0% during the forecast period.

Future of High Performance Anti-Corrosion Coatings Depends on Oil and Gas Drilling and Exploration Activities

The increasing oil and gas drilling and exploration activities in the recent past have been the indirect cause of the growing consumption of high performance anti-corrosion coatings. The rise of these activities have led to an urgent need for maintenance of the industry equipment, which has spurred the demand for protective coatings that improve the lifespan of metal surfaces and prevent it from corroding or getting damaged due to weathering and harsh climatic conditions. These coatings are increasingly being used on storage tanks, oil rigs, transmission pipelines, steel structures, and other oil vessels.

Infrastructural development such as the flourishing construction, transportation, and manufacturing industries and across the Asia Pacific region are propelling the usage of high performance anti-corrosion coatings market. This trend is predominantly seen in emerging economies of India, China, Vietnam, China, and Singapore.

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The report includes Porter’s Five Forces Model to gauge the degree of competition in the high performance anti-corrosion coatings market. The report encompasses a qualitative write-up on market attractiveness analysis, wherein end-users have been analyzed based on their attractiveness, growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated to derive general attractiveness of the market. The report also includes price trend analysis of raw materials derived from petrochemicals such as propylene, ethylene, and aromatics as well as high performance anti-corrosion coatings from 2014 to 2023.

Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.

In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of the research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and reinforcing our secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.

The report covers a detailed competitive outlook that includes market share and profiles of key players operating in the global market. Akzo Nobel N.V., The 3M Company, Chugoku Marine Paints, Ltd., Nippon Paint Co., Ltd., Hempel A/S, Jotun A/S, PPG Industries Inc., and The Sherwin-Williams Company are key players profiled in the report. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview.

This report segments the global high performance anti-corrosion coatings market as follows:

  • High Performance Anti-Corrosion Coatings Market – Product Segment Analysis
    • Epoxy Coatings
    • Urethane Coatings
    • Acrylic Coatings
    • Others (Alkyd Coatings, etc.)
  • High Performance Anti-Corrosion Coatings Market – End-User Analysis
    • Oil & Gas
    • Marine
    • Construction
    • Tanks & Pipes
    • Power Generation
    • Others (Paper & Pulp, etc.)

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