Australia Corrosion Protective Coatings and Acid Proof Lining Market was valued at US$ 970.3 Mn in 2022 and is estimated to reach US$ 1,434.7 Mn by 2030, exhibiting a CAGR of 5.01% during the forecast period (2023-2030). According to Australia Corrosion Protective Coatings and Acid Proof Lining Market Report, By Product Type (Polymer Coatings(Epoxy, Polyurethane, Alkyd, Acrylic, Fluor polymer, Vinyl Ester & Flake Filled Vinyl Ester),Rubber Lining System(Hard Rubber Lining, Soft Rubber Lining),Acid Proof Lining (APL)(Ceramic & Carbon Brick Lining, Tile Lining, Thermoplastic Lining)), By End Use (Marine(Ballast Tanks, Sea Water intake Pipe Lines), Oil & Gas, Power Generation, Transportation(Road Tanker, Rail Tanker, ISO Tanker), Chemicals(Phosphoric Acid Processing, Sulfuric Acid Man Processing, Hydrochloric Acid Processing, Chlorine Processing, Caustic Soda Processing), Mining & Metallurgy(Phosphate Mining & Processing, Aluminum Mining & Processing, Copper Mining & Processing, Nickel Mining & Processing, Gold Mining & Processing, Steel Pickling & Processing, Lead and Zinc Mining & Processing, Coal Mining & Processing, Uranium Mining & Processing,), Water Treatment(Desalination, Sewage Treatment, Process & waste water), Others (Automotive, Construction)) as highlighted in a new report published by Coherent Market Insights.
Corrosion protective coatings offer a protective layer against the foreign particle present in the environment that's can corrode the metallic body. The acid proof lining is used to enhance the mechanical integrity and robustness of the equipment. It also offers resistance against abrasion, thermal shock, mechanical stress, and high impact on the metallic body. Acid proof lining can be classified into ceramic & carbon brick lining, tile lining, and thermoplastic lining.
Drivers:
Increasing application of waterborne technology subjected to strict environmental regulations imposed by the Australian government and other regulatory bodies is projected to foster market growth over the forecast period. Many local and international players engaged in the Australia market are focusing on reducing the environmental footprint, which has further fueled the demand for Australia Corrosion Protective Coatings and Acid Proof Lining Market in the Australia region. For instance, according to sweet crude traders and refinery sources, Australia's crude oil exports increased 19% year on year in October 2021 due to significant shipments of sweet crude to Singapore and condensate sales to South Korea. This expansion indicates a future opportunity for the Australian industrial coatings market in the oil and gas sector.
Market Opportunities
Expanding chemical sector in the region is expected to raise the demand for paints and coating in Australia is projected to boost the market growth of the corrosion protective coatings and acid proof layer most manufacturers and distributors are located in Victoria and to a lesser extent New South Wales. The industry exports US$ 10 billion in goods and imports US$ 50 billion annually. This is expected to foster the Australia market growth over the forecast period.
Market Restraints
Australia corrosion protective coatings and acid proof lining market has been witnessing a moderate growth rate over the recent past years and this trend is projected to continue over the coming years. Therefore, the mature nature of the Australia paints and coating market is projected to restrain the market growth over the forecast period. The value of Australia’s coatings industry is forecast to grow from its 2013 value of $1,078 million to $1,251 million in 2018 – growth of about 16 percent over those five years.
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Key Takeaways of the Market:
- Rising focus on promoting environmental sustainability by imposing strict government rules and regulations that is encouraging manufacturers to manufacture eco-friendly protective coating products is expected to fuel the market growth. Moreover, the manufacturers are adopting eco-friendly technologies such as powder-based, waterborne, high solids, and UV-cured technologies. For instance, LINE-X is an Australian manufacturer aimed at improving operational efficiencies, increasing product durability, and boosting end user satisfaction. LINE-X Protective Coatings are environmentally friendly, contain no volatile organic compounds (VOCs), and provide solutions for businesses that are subject to industry-specific regulatory compliances and severe service environments. The rising trend of promoting sustainability in surface coating is another major factor propelling the market growth over the forecast period. The Australian Paint Manufacturers’ Federation Inc. represents the interests of its members to ensure the sustainability of the surface coatings industry in Australia. The purpose is to represent and advance the interests of its members to ensure the sustainability of the Australian paint and surface coatings industry.
- According to the Organization Internationale Des Constructeurs Automobiles (OICA), Australia produced 14% more vehicles than the previous year in 2021, a trend that is expected to continue. As a result, the automotive sector in the country is expected to have a high demand for water-borne technology in the future.
- Major players operating in the Australia corrosion protective coatings (CPC) & acid proof lining (APL) market include Metz Specialty Materials Pty Ltd, Flight Extruded Plastics., Denso (Australia) Pty Ltd, Weir Minerals Australia Ltd, Stebbins Australia Pty Ltd, Kaefer Novacoat Pty Ltd, Era Polymers, Steuler KCH Australia Pvt Ltd, Townscend, Rubbertec Australia Pvt Ltd, Covestro Pty Ltd, REMA TIP TOP Industrial Australia PTY Ltd, Jotun Australia Pty Ltd, AkzoNobel, and Corrocoat Engineering Pty Ltd.
