Demand for corrosion protective coatings and acid proof lining materials will remain stable in 2016, with global revenues totaling 31,636.2 Mn in 2016, a 5.5% increase over 2015. In 2016, the construction sector’s slow but promising growth will continue to drive the adoption of corrosion protective coatings and acid proof lining market. The marine sector will also see strong demand, with annual revenues expected to total $6,628.1 million in 2016, a 5.2% increase over 2015.
In 2016, coating technology innovation will continue to open up new growth opportunities. The transition from solvent-borne to waterborne technology will continue to gain traction, with the former expected to grow 4.5% year over year in 2016 over 2015. The water-borne technology segment will grow 6.3% year on year in 2016. In addition, increased investment by key players in developing economies is expected to boost demand for corrosion protective coatings and acid proof lining materials.
Polymer coatings will continue to be the most important corrosion protective coating product type, with revenues of 17,597.4 Mn in 2016, a 5.8% increase over 2015. Ceramic and carbon brick lining will continue to be the most profitable product segment in the acid proof lining segment, accounting for $1,068.1 million in revenue in 2016.
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Demand for corrosion protective and acid proof lining materials will remain strongest in Asia Pacific, with the region representing 36.7% revenue share in 2016. Steady pace of construction in the emerging countries of Asia Pacific will continue to create sustained demand for corrosion protective coatings and acid proof lining materials in 2016 and beyond. North America and Eastern Europe will maintain their position as the second- and third- largest market for corrosion protective and acid proof lining materials in 2016. These two regions will collectively account for 33.6% revenue share of the market in 2016.
BASF Coatings GmbH, PPG Industries, Inc., The Sherwin-Williams Company, Ashland Inc., Axalta Coating Systems Ltd., Hempel A/S, International Paint Ltd., and Jotun A/S etc. are some of the leading players in the global corrosion protective coatings and acid proof lining market. Concerns on the environmental impact of coatings and acid proof lining materials is influencing leading companies to focus on developing sustainable products — FMI expects this trend to gain further momentum in 2016.
Long-term Outlook: FMI maintains a positive long-term outlook on the corrosion protective coatings and acid proof lining market, anticipating the market to increase at 6.2% CAGR during the forecast period 2015-2025.
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Key Segments Covered
- By End-use Industry
- Marine
- Oil & gas
- Power generation
- Construction
- Automotive
- Transportation vehicles
- Chemicals
- Mining & metallurgy
- Others
- By Product Type
- Corrosion Protective Coatings Market
- Polymer coatings
- Rubber lining systems
- Acid Proof Lining Market
- Ceramic & carbon brick lining
- Tile lining
- Thermoplastics lining
- By Technology
- Solvent-borne
- Waterborne
- Powder-based
- Key Regions/Countries Covered
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia-Pacific Excluding Japan (APEJ)
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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