Research and Markets has announced the addition of the “Anti-Corrosion Coating Market – Global Forecast to 2021” report to their offering.
The market size of anti-corrosion coating is expected to reach USD 30.04 billion by 2021, registering a CAGR of 5.1% between 2016 and 2021.
The growth is primarily triggered by its huge demand from the Asia-Pacific region and the growing end-use industries such as marine, oil & gas, infrastructure, industrial, power generation, and automotive & transportation. Liberalization of foreign trade & investments and change in industrial policies has led to rapid industrialization in China for the past three decades. This, in turn, is contributing to the increasing demand for anti-corrosion coating in the Asia-Pacific region.
Epoxy anti-corrosion coating led the global anti-corrosion coating market in 2015. Higher demand for epoxy anti-corrosion coating is owing to the compatibility of epoxy with other coating materials. The dominance of epoxy anti-corrosion coating is mainly due to its properties such as good corrosion protection, water resistance, and adhesion to steel. In addition, the increasing demand from the various end-use industries such as marine, oil & gas, infrastructure, and automotive & transportation is fueling the growth of epoxy anti-corrosion coating.
Asia-Pacific is projected to be the largest and the fastest-growing market of anti-corrosion coating, globally. This is mainly attributed to high economic growth rate, followed by heavy investment in the end-use industries such as automotive, infrastructure, and alternative power generation.
For more information, visit http://www.researchandmarkets.com/research/bcsww9/anticorrosion
