South Africa Corrosion Protective Coatings Market to US$ 96.49

South Africa Corrosion Protective Coatings and Acid Proof Lining Market was valued at US$ 60.93 Bn in 2022 and is estimated to reach US$ 96.49 Bn by 2030, exhibiting a CAGR of 5.9% during the forecast period (2023-2030). South Africa Corrosion Protective Coatings and Acid Proof Lining Market, By Product Type (Polymer Coatings (Epoxy, Polyurethane, Alkyd, Acrylic, Fluoropolymer, Vinyl Ester and Flake-filled Vinyl Ester), Rubber Lining Systems (Epoxy, Polyurethane), Acid Proof Lining (Ceramic & Carbon Brick Lining, Tile Lining, Thermoplastic Lining)), By End-use (Marine (Ballast Tanks, Intake pipelining), Transportation (Road Tankers, Rail Tankers, ISO Tanks), Chemicals (Phosphoric Acid Processing, Sulfuric Acid Processing, Hydrochloric Acid Processing, Chlorine Processing, Caustic Soda Processing), Water Treatment (Desalination, Sewage Treatment, Process & Waste Water), Mining & Metallurgy (Phosphate, Aluminum, Copper, Nickel, Gold, Steel, Platinum, Uranium), Oil & Gas, Power Generation, Others) - Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030.

Drivers

Expanding automotive industry in the South Africa region is expected to propel the market growth of the corrosion protective coatings & acid proof lining. The automotive sector has potential demand for corrosion protective coatings which is used in the production of the automobile. Moreover, it is a hub for the production of vehicles and exports and also considers a home to several international automotive producers. Thus, growth in the automotive industry is expected to augment the market growth of corrosion protective coatings & acid proof lining market.

Market Opportunities

Growth in the paints & coatings industry in the country is expected to open up new avenues to the market of corrosion protective coatings & acid proof lining. Rising demand for decorative paints from the architectural industry is also contributing to the market of corrosion protective coatings & acid proof lining. Growth in the hospitality and tourism industry in the country is another major factor expected to augment the market growth of the South Africa corrosion protective coatings & acid proof lining

Market Restraints

The country’s economic growth has experienced a slowdown in the past few years and this situation is expected to remain unchanged during the foreseeable period. Thus, the slowdown of the economy of South Africa country is expected to hinder the market growth.

South Africa Corrosion Protective Coatings & Acid Proof Lining Market - Impact of Coronavirus (COVID-19) Pandemic

African mining companies producing cobalt, copper, lithium, and iron have noticed decreasing demand from China due to production shutdowns and global supply chain disruptions. According to International Monetary Fund, in South Africa GDP growth is expected to fall from 0.2% in 2019 to -5.8% in 2020. However, according to the same source, South Africa’s GDP growth is expected to be 4.0% in 2021, which is expected to drive the mining sector in the country.

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Key Takeaways

On the basis of product type, polymer coatings segment dominated the South Africa corrosion protective coatings & acid proof lining market in 2022 with a 65.7% of market share in terms of value, followed by rubber lining system segment.
On the basis of end-use, the mining & metallurgy segment dominated the South Africa corrosion protective coatings & acid proof lining market in 2022 with 37.2 % of the market share in terms of value, followed by others and the power generation segment respectively.

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Company Names