The worldwide Corrosion Protection Rubber Linings and Coatings market is anticipated to account for nearly US$ 12,000 Mn sales by 2022-cease. In step with a contemporary studies by way of destiny market Insights (FMI), the worldwide market for corrosion protection rubber linings and coatings will register a healthy enlargement during the forecast length (2017-2022).
Producers focusing on development of exceptionally-volatile Deterioration-resistant substances
Shifting end-user preferences from solvent-borne answers to water-borne answers is a key fashion being located in the marketplace presently. Producers of corrosion protection merchandise are an increasing number of focusing on safeguarding numerous cease-use zone’s operational performance.
Those manufacturers are also taking steps to cater the imperative need of preventing outside corrosion of industrial surfaces. Similarly, the focal point on improvement of surprisingly-unstable deterioration-resistant substances is growing on the returned of developing inclination in the direction of technologically-advanced corrosion coating.
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Industrial centers constructed from Carbon steel at high danger of Corrosion
International leading producers of corrosion protection rubber linings and coatings are making heavy investments in studies and development activities, in a bid to increase new strategies for whole prevention of corrosion. Various commercial facilities, ranging from processing gadget, water treatment flora, oil & herbal gasoline tank farms, to pipelines, are at big chance of corrosion, specially the ones whose structures are fabricated from carbon steel.
This is specifically because carbon steel is tremendously vulnerable to corrosion, which has resulted into manufacturing downtime, and restore & replacement sports. Several proactive industries are therefore transferring past traditional techniques which might be best able to slowing down the corrosion.
The industries are in addition transferring toward adoption of novel strategies, which allow entire prevention from corrosion, thereby minimising fee, and manufacturing downtime had to update, restore, or recoat the corroded system or material. In step with international Corrosion company, over 3% of world’s GDP is spent on corrosion-related activities across the globe yearly.
Solvent-borne Form Type Segment to Account for over 40% Revenue Share of the Market
Projected to account for over 40% revenue share of the market during 2017 to 2022, solvent-borne segment by form type is expected to remain dominant in the global corrosion protection rubber linings and coatings market. In addition, water-borne segment is expected to witness a relatively faster expansion in sales through 2022.
As solvents comprise of harmful chemicals, end-users are now preferring water-borne solutions over solvent-borne for corrosion protection. Asia-Pacific Excluding Japan (APEJ) and North America will remain the largest markets for corrosion protection rubber linings and coatings.
The markets in Japan, and Middle East & Africa (MEA) are also expected to witness a healthy expansion through 2022. In addition, the market in Europe is estimated to create an absolute $ opportunity of roughly US$ 560 Mn between 2017 and 2022.
Hard Rubber Lining Systems will Remain Preferred in the Market
Hard rubber lining systems are expected to remain preferred among products, with sales projected to account for nearly two-third revenue share of the market during 2017 to 2022. However, soft rubber lining systems’ sales are anticipated to reflect a comparatively higher CAGR than that of hard rubber lining systems through 2022.
Sales of corrosion protection rubber linings and coatings in marine, and construction end-use sectors are expected to collectively account for over one-third revenue share of the market in 2017. These end-use sectors will witness a rise in their market share through 2022. In addition, oil & gas is expected to remain the fastest growing end-use sector in the market, with sales poised to account for nearly US$ 2,000 Mn in revenues by 2022-end.
Key market players included in FMI’s report include
- The Sherwin Williams Company
- STEULER-KCH GmbH
- PPG Industries, Inc.
- Polycorp Limited
- Koch Knight LLC
- Jotun A/S
- BASF SE
- Axalta Coating Systems
- Ashland Global Holdings, Inc.
- AkzoNobel NV.
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Market Taxonomy
The report delivers a segmentation-wise forecast and analysis of the global corrosion protection rubber linings and coatings market. Each segment of the market is analysed discretely, with the provision of country-wise forecast and cross-sectional data. The market has been categorised on the basis of form type, product type, end-use, and region.
Product Type
- Hard Rubber Lining Systems
- Soft Rubber Lining Systems
End Use
- Marine
- Oil and Gas
- Power Generation
- Construction
- Automotive
- Transportation
- Chemicals
- Mining & Metallurgy
- Others
Form Type
- Solvent-borne
- Waterborne
- Powder-based
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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