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.
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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.
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.
APAC is expected to contribute 51% to global market growth.
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.
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.
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.
The market is segmented as follows:
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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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