ANTI CORROSION COATINGS MARKET ANALYSIS

Regional Analysis

Anti-Corrosion Coatings Market Outlook

• Asia Pacific is the largest and fastest-growing market owing to growth of various end use industries. This is a result of increasing middle class population in the major markets of India, China, Indonesia and ASEAN countries. A rise in disposable incomes has increased demand for goods and population has driven new projects and modernization of existing infrastructure. Increasing energy production (renewables and non-renewables) to achieve self-sufficiency and water transportation to densely populated urban areas is driving anti-corrosion coating market in this region.
• In North America and Europe, the growth is expected to be slow due to maturation of these markets. Burgeoning growth of the automotive and military industries are major drivers in these regions. Increased environmental scrutiny from regulatory bodies has resulted in increased R&D and innovations in manufacturing processes and products.
• In Latin America, the Brazil and Mexico are growing markets. Coating manufacturing has also expanded due to proximity to North American markets. The increase in offshore deep-water oil projects in MENA has resulted in niche market for subsea equipment coatings. In addition, the growing construction and transport infrastructure activities in Middle East such as Qatar is hosting 2022 Soccer World Cup and has already spend $100 billion for better impending mega soccer event has led to huge growth in coatings market. Egypt and Libya have also shown healthy growth across all end user industries.

The need for power generation in energy starved developing nations has resulted in increased hydropower project investment in Africa and Asia. Also, the added benefit of drinking and irrigation water supply makes dam construction attractive. This will be critical to anti-corrosion market growth.