Anti-corrosion Coatings Market Size Will Exceed $50 Billion in 2026

In recent years, with the rapid development of downstream application fields of anti-corrosion coatings, such as shipbuilding, oil and gas industry, petrochemical refining, infrastructure, power industry, water treatment industry and other industries, the development of the global anti-corrosion coatings market has been promoted, but in 2020, the global Affected by the new crown pneumonia epidemic, the anti-corrosion coatings market has been suppressed to a certain extent. The global anti-corrosion coatings market size was valued at USD 24.36 billion in 2020, a decrease of 11% from 2019.

According to the technical characteristics of products, anti-corrosion coatings can be divided into solvent-based anti-corrosion coatings, water-soluble anti-corrosion coatings, powder anti-corrosion coatings, etc. Among them, solvent-based anti-corrosion coatings are the most widely used. The share of the paint market is more than 40%.

In addition, water-based anti-corrosion coatings have excellent chemical resistance, cold resistance, non-flammable, non-explosive, non-toxic and other characteristics. With the increasingly stringent environmental protection regulations in the world, the demand for environmentally friendly and high-performance water-based anti-corrosion coatings is increasing.

Rapidly growing demand in Asia Pacific

From the perspective of the global market, the Asia-Pacific region is currently the largest production market in the global anti-corrosion coatings industry, accounting for about 58%. Mainly due to the rapid development of industrialization in the petrochemical, electric power and other industries in the Asia-Pacific region, the demand for industrial anti-corrosion market has increased rapidly. Among them, China is the main producer and consumer of the global anti-corrosion coating market; Europe is the second largest anti-corrosion coating in the world. In the paint market, the production volume accounts for about 22%; North America is the third largest anti-corrosion paint production market in the world, accounting for 11%.

Wide range of downstream applications

As one of the important engineering materials in industrial development, anti-corrosion coatings have excellent structural strength, high temperature resistance, corrosion resistance, low coating cost and convenience of application, and are widely used in the oil and gas industry, marine engineering, construction and Construction, automotive and transportation industries, aerospace and defense, and more. Among them, the oil and gas industry is the largest application field of anti-corrosion coatings. According to the GRAND VIEW RESEARCH data, the oil and gas industry accounts for more than 35% of the global anti-corrosion coating application market.

50 billion market size

According to the data of China Corrosion and Protection Network, the economic loss caused by corrosion in the world is as high as 1 trillion US dollars every year, which is about 6 times the total economic loss caused by natural disasters such as earthquakes, floods and typhoons, accounting for 2% of the gross national product of each country. -4%. Corrosion not only causes huge losses to the economy, but also brings huge consumption of resources and aggravates environmental pollution. Therefore, anti-corrosion research has attracted more and more attention from all over the world. Among various anti-corrosion measures, anti-corrosion coating is the most economical, practical and convenient way to prevent corrosion.

According to Statista data, it is expected that the global anti-corrosion coatings market size will show a recovery growth in 2021, reaching 36.47 billion US dollars, and will exceed 50 billion US dollars in 2026. From 2021 to 2026, the global anti-corrosion coatings market size will reach a compound annual growth rate of 7.9%.