Defending Against Corrosion: Exploring the Growing Market for Rubber Linings and Coatings

Corrosion Protection Rubber Linings and Coatings Market

Corrosion protection rubber linings and coatings are specially designed materials used to safeguard equipment and structures from the damaging effects of corrosion. These linings and coatings provide a durable and flexible barrier against corrosive substances, preventing corrosion-related deterioration and extending the lifespan of assets. They are commonly used in industries such as chemical processing, oil and gas, mining, and water treatment to protect against corrosion in challenging environments.

The global corrosion protection rubber linings and coatings market is estimated to account for nearly US$ 12,000 Million revenues by 2022-end. According to a latest research by Future Market Insights (FMI), the global market for corrosion protection rubber linings and coatings will register a healthy expansion during the forecast period (2017-2022).

Manufacturers focusing on Development of Highly-volatile Deterioration-resistant Materials

Shifting end-user preferences from solvent-borne solutions to water-borne solutions is a key trend being observed in the market currently. Manufacturers of corrosion protection products are increasingly focusing on safeguarding various end-use sector’s operational performance. These manufacturers are also taking steps to cater the imperative need of preventing exterior corrosion of industrial surfaces. In addition, the focus on development of highly-volatile deterioration-resistant materials is increasing on the back of growing inclination towards technologically-advanced corrosion coating.

Industrial Facilities built from Carbon Steel at High Risk of Corrosion

Global leading manufacturers of corrosion protection rubber linings and coatings are making heavy investments in research and development activities, in a bid to develop new techniques for complete prevention of corrosion. Various industrial facilities, ranging from processing equipment, water treatment plants, oil & natural gas tank farms, to pipelines, are at huge risk of corrosion, especially the ones whose structures are made of carbon steel. This is mainly because carbon steel is highly prone to corrosion, which has resulted into production downtime, and repair & replacement activities.

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Several proactive industries are therefore moving beyond traditional techniques that are only capable of slowing down the corrosion. The industries are further shifting towards adoption of novel techniques, which enable complete prevention from corrosion, thereby minimising cost, and production downtime needed to replace, repair, or recoat the corroded equipment or material. According to World Corrosion Organisation, over 3% of world’s GDP is spent on corrosion-related activities across the globe annually.

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.

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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., and Akzo Nobel NV.

Corrosion Protection Rubber Linings and Coatings 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.

Region

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

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 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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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