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iCrowdNewswire Jan 15, 2021 3:00 PM ET

North America Anti-corrosion Coating Market Expected to Reach USD 7,547.5 Million by 2027


North America Anti-corrosion Coating Market Expected to Reach USD 7,547.5 Million by 2027

iCrowd Newswire - Jan 15, 2021

North America Anti-corrosion Coating Market Key Takeaways

According to a recent market study published by Growth Market Reports (GMR), titled, “North America Anti-corrosion Coating Market by Types, End-use Industries, and Regions: Size, Share, Trends, and Opportunity Analysis, 2017-2027”, the market was valued at USD 5,479.1 Million in 2019 and is expected to expand at a CAGR of 4.8% 2020 to 2027. Some metals and alloys, such as steel, iron, aluminum, and magnesium, are commonly used in oil & gas, shipbuilding, maritime, nuclear, transport, automobile, and other industries that are at a risk of corrosion. Many methods have been used to protect these metals from corrosion. Anti-corrosion coatings has been used for many years due to its longevity and performance. Various corrosion coatings have been developed and tried in an effort to challenge the destructive effects of corrosion on metal. The coating applied on the metal surfaces are different respective to the type of metal owing to variations in the physical and chemical properties of different varieties of metals and alloys. Each coating depends on the type of metal used and applied, such as water-based coating, solvent-based coating, powder coating, and others.

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The North America anti-corrosion coating market is fragmented based on types, end-use industries, and regions. In terms of types, the market is segmented into epoxy, polyurethane, acrylic, alkyd, zinc, chlorinated rubber, and others. On the basis of end-use industries, the market is segregated into marine, oil & gas, industrial, construction, energy, automotive, and others. North America is further bifurcated into countries such as the US and Canada.

The influence of COVID-19 is deeply felt in the building industry due to the high reliance of the various industries on imports. Furthermore, the pandemic has led to the closing of many non-essential enterprises, reducing the world’s market for anti-corrosion coatings, which in turn, has impeded the metal industry. Since the COVID-19 pandemic is reducing the end-user demand for construction products worldwide, the demand for anti-corrosion coating is expected to reduce in the short-term. COVID-19 has significantly reduced production of manufacturing units, compelling them to employ 50% of the workforce. Additionally, the global supply chain has stalled due to constraints on national boundaries.

As per GMR industry analyst Akshata Ahire, “The North America anti-corrosion coating market is anticipated to grow significantly during forecast period from 2020 to 2027 driven by increasing manufacturing machines spending globally, as developed and developing counties aim at enhancing public infrastructure owing to the rapidly growing population. Growing damages due to corrosion and increasing demand for anti-corrosion coatings from various end-use industries are key factors that are expected to drive the anti-corrosion coating market during the forecast period. These factors create opportunities in this market. Key players in the market are actively focusing on R&D activities to develop anti-corrosion coatings.”

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Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 5,479.1 Million

Market Growth Rate (from 2020 to 2027)

4.8%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (USD Million)

Market Segments

Types and End-use Industries

Regional Scope

North America

Country Scope

U.S., Canada

Key Companies Profiled

3M Co., Ancatt Inc., Ashland Inc., Axalta Coating Systems LTD., Diamond Vogel, E.I. Du Pont De Nemours and Company, Nycote Laboratories, Inc., PPG Industries, Inc., RPM International Inc., The DOW Chemical Company, The Magni Group, Inc., and The Sherwin-Williams Company

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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About Us:
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At GMR, we provide our expertise and guideline for success. Our team of efficient and experienced researchers and consultants provide progressive market intelligence reports that are accurate, authentic, and in-depth. This empowers the clients to make well-informed decisions.

Moreover, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries including chemicals and materials, energy, automobile, healthcare, consumer goods, and technology. Our deep understanding of many business environments across industries such as those mentioned above allows us to deliver tailor-made reports.

Contact Information:

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