The global market for corrosion-resistant coatings will reach US$20.21 billion by 2024.

According to a recent study published by Global Market Insights, the global anti-corrosion
coatings
market will reach US$20.21 billion by 2024, with a compound annual growth rate of about 5%.
is mainly stimulated by the continued growth of energy demand, the global anti-corrosion coatings market is developing rapidly. The energy sector includes oil and gas engineering, nuclear power engineering, biomass energy, hydropower, solar energy and coal energy, and corrosion-resistant coatings provide effective protection of energy facilities operating in harsh environments. Solar facilities, for example, are vulnerable to environmental moisture, and corrosion-resistant coatings offer a variety of solutions. In addition, the global population is expected to exceed 9 billion in the future, which will further stimulate the demand for clean energy and promote the transformation and development of industrial structures.
, the global construction industry will exceed $8 trillion in 2015 and reach $16 trillion by 2024, according to a new study. The compound annual growth rate is more than 7%. With the deepening of technological innovation and the vigorous development of the construction industry, the demand for metal structural materials continues to increase. Consumer demand for corrosion-resistant coatings has also increased. Anti-corrosion coatings not only do not affect the structural strength of the material, but also make the surface more beautiful.
, the oil and gas industry has a greater impact on the development of the anti-corrosion coatings market. A large number of facilities such as drill bits, drill pipes, oil storage tanks and other working conditions for groundwater and mud, the need for anti-corrosion coating. The research points out that the strong development of oil and gas industry has promoted the development of anti-corrosion coatings market, and the production of new energy sources (e.g. shale gas, oil sands, oil shale, etc.) in the oil and gas industry has also contributed to the development of anti-corrosion coatings market. It is worth noting that some paint raw materials such as ethylene, benzene, toluene, radone and other crude oil supply system, will affect the price of anti-corrosion coatings, and the strict implementation of VOC regulations also directly affect the market pattern of anti-corrosion coatings, but the demand for water-based anti-corrosion coatings will bring new growth space for market development.the
analysis also points out that (1) epoxy anti-corrosion coatings have excellent wear resistance, alkaline resistance, acid resistance and water resistance, etc., its market growth rate is expected to exceed 4.5% ;(2) in 2015, corrosion-resistant coatings in infrastructure consumption of more than one billion U.S. dollars; For example, the U.S. anti-corrosion coatings market is growing at a CAGR of more than 4.5% ;(4) The Asia-Pacific region, especially China, India and Japan, is mainly stimulated by strong construction development, and its anti-corrosion coatings market is expected to grow at a CAGR of more than 5% ;(5) The anti-corrosion sector is extremely competitive, involving companies in this area, including Ashland, Axalta Coating, Hempel, BASF, Akzo Nobel, Jotun, Kansai Paints, PPG Industries, RPM International, etc.