Corrosion protective coatings are protective coatings that are applied to various metals and alloys in order to prevent corrosion. These coatings form a protective layer that isolates the metal surface from potential corrosive agents such as water, oxygen, and other chemicals. Corrosion protective coatings find wide applications in industries such as marine, oil & gas, infrastructure, automation, and others.

The aerospace coatings market is estimated to be valued at US$25.25 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.


Market Dynamics:
The growth of the corrosion protective coatings market is majorly driven by rising aircraft deliveries across the globe. According to Airbus, airline passenger traffic is estimated to double by 2036 with over 39,000 new commercial aircraft added to service the demand. Growth in the aviation industry is resulting in an increased demand for corrosion protective coatings from the aerospace industry. Another major driver for the market growth is increasing demand from oil & gas pipelines. Protection of oil and gas pipelines from corrosion enables lower maintenance costs and higher productivity. Growing oil and gas exploration and production activities worldwide is fueling the demand for corrosion protective coatings from this industry.

SWOT Analysis

Strength: Corrosion protective coatings have high mechanical strength and durability. They provide effective barrier against corrosion and extend the life of structures. They also offer cost savings over time by preventing premature failures.

Weakness: Corrosion protective coatings require specialized application techniques and processes which increases costs. Strict environmental regulations regarding the use of toxic coatings also limits their use.

Opportunity: Growing infrastructure development in developing countries offer huge growth opportunities. Increasing demand from oil and gas industry, power generation and ship building sectors are driving the demand.

Threats: Fluctuations in raw material prices can increase the overall costs. Stringent environmental norms regarding the use of toxic coatings poses threats. Development of substitutes like powder coatings also threatens the market.

Key Takeaways

The global corrosion protective coatings market scope is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing infrastructure development activities across the globe. Rapid urbanization and growing population has increased the investments in transportation, oil & gas, power generation, construction and ship building industries which is driving the growth of this market.

Regional analysis

Asia Pacific region dominates the global corrosion protective coatings market with over 35% market share in 2023. This is attributed to rapid economic growth in countries like China and India resulting in increased infrastructure development and industrialization. Growing manufacturing sector and energy demand in the region is further expected to propel the market growth. The Middle East and Africa are also growing rapidly on account of oil exploration and production activities in the region.

Key players

Key players operating in the corrosion protective coatings market are The Sherwin Williams Company, Akzo Nobel NV, PPG Indsutries, Inc., The Sherwin-Williams Company, and Kansal Paint Co., Ltd. AkzoNobel holds the leading position with strong portfolio of performance coating materials for various end-use industries. Growing demand from the oil and gas industry has prompted leading manufacturers to expand their production capacities globally.

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