The anti-corrosion coatings market is poised to achieve lucrative growth due to the rapidly developing global renewable energy sector. These coatings are used to protect power generation instruments from difficult climatic conditions. For example, solar power, which is becoming a promising energy sector, is mainly influenced by humidity.
Corrosion protection coatings help to mitigate such weather influences in order to protect important and expensive instruments. Experts predict that the demand for clean energy will skyrocket in the coming years as the world population surpasses 9 billion people by 2040. This could offer corrosion protection coating companies new growth opportunities in the long term.
At the regional level, the Asia-Pacific region is regarded as lucrative soil for corrosion protection companies. Countries like India, Japan, and China would play an important role in driving demand for these coatings, helping the region experience growth of over 5% by 2025. This remarkable growth can make a significant contribution to the region’s thriving construction sector.
The oil & gas sector has continued to make a constant contribution to the anti-corrosive coatings market as it has significant use in various instruments such as drill pipes, oil storage tanks and drills. These instruments are typically exposed to boggy land and underground water, so the use of anti-corrosive coatings is essential to prevent possible equipment damage.
At the beginning of 2010, the oil & gas equipment business was more than 130 billion. And is expected to reach $ 278 billion by 2025. Exceed USD. The rapid growth and demand from this sector could massively benefit the anti-corrosion coatings industry, which is currently being led by players such as Axalta Coating, Ashland, Hempel, AkzoNobel, Jotun, BASF, Kansai Paints, RPM International and PPG Industries.
According to a report by Global Market Insights, Inc. . Corrosion Prevention Coatings market could exceed USD 20. 21 billion by the end of 2025. However, a complex product development process for a particular application and the requirement to meet required performance standards as well as various stringent environmental regulations can affect market size.
In terms of end use, Anti Corrosion Coatings market is mainly divided into Shipbuilding, Oil & Gas, Industrial Markets, Infrastructure, Construction, Transportation, Energy, and others. The global construction sector is projected to see huge revenues, projected to reach $ 16 trillion by 2025, while posting profits of over 7%. . In early 2015, the sector was worth more than $ 8 trillion.
The main players in the market are Akzonobel, Ashland, Axalta Coating, BASF, Hempel, Jotun, RPM International, Kansai Paints, PPG Industries, the Sherwin-Williams Company, Chugoku Marine Paints, Nippon Paints, Tnemec, Sokema, AICA Kogyo, AnCatt, Valspar.
Ravi Chawat has a bachelor’s degree in electronics and telecommunications engineering. He has worked closely with industry specialists from a variety of segments including chemicals, food and beverage, building and manufacturing & energy and energy. Ravi’s article mainly focuses on balancing relevant data, but never at the expense of consuming the content. He believes in providing fair information in order to make important business decisions. [Email protected] | https: // twitter. com / RaviChawat
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Coating, PPG Industries, Nippon Paint, Industrie, AkzoNobel, Corrosion Inhibitor, Forecast
EbeneMagazine – GB – Market for anti-corrosion coatings in the renewable energy sector with lucrative profits until 2025 – Fractovia. org
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