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Protective Market Set for Steady Growth

Friday, April 24, 2015

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DALLAS—Rust will be ringing up profits at a good clip for protective-coatings makers worldwide in the years ahead, a new market forecast asserts.

The global market for anti-corrosion coatings is projected to reach $26.5 billion by 2019, reflecting a Compound Annual Growth Rate (CAGR) of 4.5 percent, according to the report by Texas-based researchers Markets and Markets.

MarketsAndMarkets
marketsandmarkets.com

The global protective coatings market is expected to grow by 4.5 percent per year into 2019, according to the forecast by Markets and Markets.

Much of that growth will come from products not yet on the market.

What's New?

New product development is the name of the game in the protective and marine industry, reports Anti-Corrosion Coating Market by Type and End Use: Global Trends & Forecasts to 2019.

"Major initiatives" are aimed at developing new variants of coatings that perform better with less environmental impact. Protective-coating producers are also focusing on developing new technologies, especially those that can help the industry continue to evolve away from solvent-borne coatings toward waterborne products.

Credit, or blame, tightening environmental regulations worldwide for the green shift, the report adds.

AkzoNobelNuclear
AkzoNobel International

Power generation coatings will see traction in the years to come, the forecast says. AkzoNobel is among the companies that provides nuclear power coatings.

"The major R&D initiatives are for reducing the harmful VOC emissions in the coatings while maintaining and simultaneously improving upon the quality and performance," says Markets and Markets.

Emerging Markets

Other growth is coming from the world's rapidly urbanizing emerging regions, where coating makers are investing heavily in setting up new production and distribution facilities and networks, the report says.

Protective-coating suppliers "are also trying to increase their global presence to address the growing demand in the emerging markets," the forecast notes.

"All these developments are a reaction to the increasing demand for anti-corrosion coating applications in emerging regions with high development rate."

Coatings growth also is in store for the power generation and infrastructure markets, the study reports.

PittCharXP
PPG Industries

Corrosion's rising toll will continue to spur demand for protective coatings, especially in the oil and gas industry. PPG's Pitt-Char XP was used on this Canary Islands refinery in 2011.

Those and other industries hit hard by corrosion's toll will respond with robust demand for the passive corrosion protection that coatings can provide to metal products, alloys, cement structures and other surfaces.

The forecast discusses competitive scenarios of the top players in the industry, including PPG Industries, AkzoNobel, BASF, DuPont, Sherwin-Williams, Jotun A/S and COSCO Kansai Paints.

   

Tagged categories: AkzoNobel; Asia Pacific; BASF; Coating Business; Coating Materials; EMEA (Europe, Middle East and Africa); Latin America; Market forecasts; North America; Paint and Coating Sales; PPG; Protective Coatings; Sherwin-Williams

Comment from luiz de miranda, (4/24/2015, 5:56 AM)

30 years ago, a brazilian technology, the so called Protective Rust, shows excellent results. A Patent agreed by USA license dept. claimed by Federal University of Rio de Janeiro and Brazilian Navy shows excellent results. We have shared this research with major coatings companies.


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