The Global Corrosion Protection Rubber Coating Market was valued at around US $6.8 Bn in the year 2019, and is projected to reach $xx Bn by the year 2026, growing at a CAGR of xx% during the forecast period.
Global Corrosion Protection Rubber Coating Market Overview:
Corrosion protection rubber coatings are designed to prevent degradation in structures when exposed to extreme corrosive environments.
The Global Corrosion Protection Rubber Coating Market is expected to gain market growth from 2019-2026 thanks to the increase in technological advancement in various industries such as oil & gas, automotive & transportation, energy & power, construction, marine, and mining & metallurgy. The Global Corrosion Protection Rubber Coating Market is projected to grow owing to the rise in the use of soft rubber lining system and hard rubber lining system.
The report comprises of market dynamics, segment analysis, regional analysis, scope and key players operating in the Global Corrosion Protection Rubber Coating Market.
Global Corrosion Protection Rubber Coating Market Dynamics:
Driver: Increasing losses and damage due to corrosion
There is huge monetary loss due to rust, corrosion, wear and tear, accidental damages, and other such factors, which in turn affect the consumption of fixed capital (CFC). These losses lead to economic depreciation and are mostly seen in manufacturing and real estate industries. Therefore, the need to reduce the loss due to corrosion will be one of the biggest drivers for the growth of the corrosion protection coatings market.
Restraint: Stringent environmental regulations
Regulations were targeted at curtailing the volatile organic compounds (VOC) emissions from coatings. Such regulations have put pressure on coating manufacturers to comply with the standards by reducing VOC contents and to maintain the quality and performance of these coatings. The regulations have also impacted the price of corrosion protection coating as the regulations brought a change in the technology, helped in production of coatings.
Opportunity: Demand for high efficiency corrosion protection coatings
The changing operating conditions in the end-use industries such as oil & gas and marine have created demand for corrosion protection coatings with higher properties and efficiency. Due to increase in use of enhanced oil recovery (EOR) methods, the oil & gas sector has created the requirement for coatings that can endure high temperatures and pressure efficiently and ensure long-term protection of structures. Thus, the increase in demand for high-efficiency corrosion protection coatings is expected to present significant opportunities for the growth of the market.
Challenge: Challenges from local players
The corrosion protection coating market is dominated by a few major global players. Companies such as PPG Industries (US), Akzo Nobel (Netherlands), and Jotun A/S (Norway) lead the market in terms of revenue and product development. The corrosion protection coatings market also comprises a number of small local players such as Diamond Vogel Paints (US) and SK Formulations India Pvt. Ltd. (India) that lack the financial or technological power to counter the global majors.
Global Corrosion Protection Rubber Coating Market Segment analysis
Global Corrosion Protection Rubber Coating Market, by product:
Soft rubber lining system can be used for a wide range of applications such as protection against chemicals and extreme climate and temperature in the process industries. Soft rubber lining system can be used on sites requiring chemical, thermal, and mechanical resistance.
Hard rubber lining system employ high-quality natural as well as synthetic rubbers and are very effective in preventing corrosion in the process industry with temperatures ranging up to 125°C. Hard rubber lining systems prove to be effective and can protect against chemicals such as mineral acids, aqueous solutions, organic solvents, and bases. Currently, hard rubber lining systems account for a major share of the corrosion protection rubber coatings market, and is anticipated to continue its dominance during the forecast period. The major reason for high usage of hard rubber lining system is that, the vulcanized hard rubber linings employed in these systems, are chemically inert, due to which they are resistant to many oxidative chemical systems.
Global Corrosion Protection Rubber Coating Market
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Global Corrosion Protection Rubber Coating Market, by Form:
• Solvent borne
• Water borne
• Powder based
Global Corrosion Protection Rubber Coating Market, by End User Industry:
Global Corrosion Protection Rubber Coating Market1
Due to complex MS Structures in Chemical Plants, Refineries, Thermal Power Plants Complexes are there in oil and gas industry which requires to protect these materials from corrosion, therefore Oil and gas Industry holds maximum market in Corrosion Protection Rubber Coating.
Global Corrosion Protection Rubber Coating Market Regional Analysis
Global Corrosion Protection Rubber Coating Market by Region:
Asia-Pacific excluding Japan (APEJ) is expected to remain the largest market for Corrosion Protection Rubber Coatings, followed by North America. Rising demand from the industrial and marine industries focus on better performance, new developments in coating processes, growing environmental awareness, and green mobility are the major factors that drive the market for corrosion protection coatings during the forecast period.
Global Corrosion Protection Rubber Coating Market2
Global Corrosion Protection Rubber Coating Market scope: Inquire before buying
Global Corrosion Protection Rubber Coating Market3
Global Corrosion Protection Rubber Coating Market by region:
• North America
• Asia pacific
• Middle East and Africa
• South America
Key Players in the Global Corrosion Protection Rubber Coating Market:
• Ashland Global,
• BASF SE,
• Holdings, Inc.,
• Knight LLC,
• Axalta Coating Systems,
• PPG Industries, Inc.,
• Akzo Nobel NV,
• Polycorp Limited,
• KCH GmbH,
• Sherwin Williams Company, and Jotun A/S.
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