Authored By: Sarah
04 Mar 2025

Anti-Corrosion Coatings Market 2024-2028, Expanding Applications Drive Growth

The anti-corrosion coatings market is projected to grow by USD 8.26 billion at a CAGR of 5.68% between 2023 and 2028. The market expansion is driven by increasing demand in the real estate and construction sector, the marine industry, and the automotive sector’s reliance on steel. The growth of urbanization and infrastructure projects has amplified steel usage, reinforcing the demand for anti-corrosion coatings.

Global anti-corrosion coatings market 2024-2028

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Market Segmentation

By Product

The epoxy segment is expected to dominate the market. It has widespread applications across industries, including architecture, mining, food and beverage, IT, medical, construction, automotive, electrical, and marine. The segment was valued at USD 9.39 billion in 2018. The demand for epoxy-based anti-corrosion coatings is growing due to lower volatile organic compounds (VOC) emissions and increased investments in construction projects in China, India, Indonesia, the Philippines, New Zealand, and Brazil.

By Type

The market is segmented into marine, construction, industrial, oil and gas, and automobile and transportation. The marine industry dominates due to the increasing need for corrosion and abrasion protection in ships, yachts, and boats. With a substantial portion of global trade carried by sea, the demand in the marine sector continues to grow, further driven by expanding naval power investments.

Regional Market Trends

APAC is expected to contribute 51% to global market growth.

  • China – The largest producer of automobiles and paints/coatings, with a booming housing market.
  • Japan – In June 2022, the Japanese government announced a USD 36 billion investment over the next decade to build and renovate energy-efficient, earthquake-resistant homes.

Market Dynamics

Key Market Driver

The expanding real estate and construction industry is a major driver. The rising urbanization in developing countries like China and India boosts infrastructure development, increasing demand for architectural anti-corrosion coatings. With an estimated 65%-70% increase in urban population by 2050, the need for residential and non-residential construction is expected to surge.

Significant Market Trend

The market is witnessing a growing focus on bio-based and eco-friendly coatings. The increasing consumer preference for sustainable products, along with stringent environmental regulations in North America and Europe, is driving demand for bio-based polymer coatings in industries such as food packaging and consumer goods.

Major Market Challenge

Stringent regulations on VOC emissions in Western Europe and North America pose a challenge. Compliance with safety frameworks like OSHA and EPA slows market penetration and limits the use of traditional solvent-borne coatings.

Segment Overview

The market is segmented as follows:

By Product

  • Epoxy
  • Polyurethane
  • Alkyd
  • Acrylic
  • Others

By Type

  • Marine
  • Construction
  • Industrial
  • Oil and Gas
  • Automobile and Transportation

By Geography

  • North America (U.S., Canada)
  • Europe (U.K., Germany, France, Rest of Europe)
  • APAC (China, India)
  • South America (Chile, Argentina, Brazil)
  • Middle East & Africa (Saudi Arabia, South Africa, Rest of the Middle East & Africa)

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Key Market Players

  • Akzo Nobel NV
  • Ashland Inc.
  • Axalta Coating Systems Ltd.
  • BASF SE
  • Beckers Group
  • Cor Pro Systems
  • Hempel AS
  • Jotun AS
  • Kansai Paint Co. Ltd.
  • LKAB Minerals
  • Metal Coatings Corp.
  • NEI Corp.
  • PPG Industries Inc.
  • RPM International Inc.
  • SK FORMULATIONS India PVT. LTD.
  • The DECC Co.
  • The Sherwin Williams Co.
  • The Sixth Element Changzhou Materials Technology Co. Ltd.
  • Wacker Chemie AG
  • WEICON GmbH and Co. KG

Market Outlook

The anti-corrosion coatings market is expanding with increasing adoption of waterborne coatings, powder-based coatings, and bio-based solutions. The automotive, energy, and aerospace industries are also driving demand for high-performance coatings that offer water resistance, chemical protection, and durability. Offshore expansion and maritime sector growth further contribute to market expansion.

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