CORROSION PROTECTIVE COATINGS MARKET ANALYSIS

Corrosion Protective Coatings MarketSize and Trends

Market Outlook

Global corrosion protective coatings market size is projected to expand significantly and expected to register a CAGR of 7.45% during the forecast period (2019-2027). Growing demand for corrosion protective coatings from naval and ship sector, due to rising investment in ship repairing industries is expected to boost the market growth during the forecast period. Furthermore, growing demand from the oil and gas industry, owing to vast technical systems in the companies that require timely maintenance measure is expected to drive growth of the market in the near future. Moreover, rising use of protective coatings in the steel industry is expected to increase the demand for corrosion protective coatings, which in turn will propel the market growth in the near future. Epoxy-based paintings are also expected to exhibit significant growth, which in turn increases the demand for corrosion protective coatings and thereby drive growth of the market during the forecast period.