Corrosion Protective Coating Systems Key in Surface Protection Services Market

Future Market Insights in an upcoming report titled ‘‘Surface Protection Services Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)’ has comprehensively studied the global surface protection services market. The surface protection services market is on track to record a modest CAGR of 4.9% from 2017 to 2027.

Product Type – Corrosion Protective Coating Systems Dominate Other Product Types

The corrosion protective coating systems hold the lion’s share in the surface protection services market and are expected to gain 30 BPS by the year 2027. Corrosion protective coating systems bond by way of a chemical reaction with the substrate and minimal surface oxidation is beneficial. Therefore, corrosion promoters such as humidity and oxygen are able to get behind the coating in a similar fashion to ordinary paints. Corrosive protective coating systems have a double layer protection for mild steel and are widely utilized as compared to other product types in the surface protection services market. The corrosion protective coating systems market is predicted to surge past US$ 6 billion by the end of the forecast period.

Surface Protection Services Market

Application – Huge Gains in Process Vessels, Equipment & Rigs Application Segment

The process vessels, equipment & rigs segment has a market share of approx. 45% of the surface protection services market in terms of application and is poised to gain significant share going forward. NACE estimates that the cost of corrosion protection as a result of constructing new ships is more than US$ 7 billion every year i.e. almost 10% of the vessel’s total cost. Annual repairs & maintenance cost on account of corrosion is approx. US$ 5.5 billion with an additional US$ 5 billion in downtime. For process vessels & equipment built with reduced scantlings, it is vital that coating systems be property maintained. All of this is likely to boost the need for surface protection services in process vessels, equipment & rigs.

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Region – APEJ and MEA Race Ahead in Surface Protection Services Market

The APEJ region is projected to gain a massive 200 BPS by the end of the decadal study and has gained 90 BPS from 2012 to 2017. Huge investments in China and India to fuel the demand for petroleum products are the major factors driving the APEJ surface protection services market. For e.g. – Indian Oil Corporation plans to double its refining capacity to 150 million tonnes by 2030 to cater to the explosive energy demand in the second most populous nation. IOC has also signed an agreement with BPCL and HPCL to build the world’s largest refinery at Ratnagiri in the state of Maharashtra at a cost of US$ 40 billion.

Competition Dashboard in the Global Surface Protection Services Market

Companies profiled in the report are Shawcor, Corrosion and Abrasion Solutions Ltd., PPG Industries, Dampney Company, Delta T & Proptective Products, Blair Rubber Co., Integrated Protective Coating, Abtrex Industries Inc., Applied Rubber Linings Ltd., T.F. Warren Group, Viking Conveyor, Wasser Corporation, 3M, Moon Fabricating Corporation, Hajjan Trading & Industrial Services Company Ltd., Spence Corrosion Services Ltd., Hempel A/S, Aegion Corporation, and Carboline Company.

Surface Protection Services Market Taxonomy

Product Type

  • Corrosion Protective Rubber Lining
  • Corrosion Protective Coating Systems
  • Acid Proof Lining
    • Ceramic & Brick Lining
    • Tile Lining
    • Thermoplastic Lining

Application

  • Process Vessels, Equipment & Rigs
  • Collection Basins & Tanks
  • Pipelines
  • Others (water treatment facilities, incinerators, etc.)

Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • MEA

Surface Protection Services Market Key Takeaways

The surface protection services market is brutally competitive and small players often struggle to make their mark. Therefore, innovation is essential to gain a competitive edge and to take advantage of growth opportunities. Companies can look at coatings that are environmentally friendly and have low VOC content to thrive in the surface protection services market.

Future Market Insights analysts are available to answer any questions and provide more information on the global surface protection services market. Write in to us at press@futuremarketinsights.com

About Chemicals & Materials division of FMI

The Chemicals & Materials division at FMI offers distinct and pin-point analysis about the chemicals & materials industry. Coverage of the chemicals and materials  market extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites, and nanotechnology. The team also puts special emphasis on ‘green alternatives’, recycling and renewable technology developments, and supply-demand trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.

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