Corrosion Protective Coatings Market Size, Share & Forecasts, 2012-2022.

Corrosion protective coatings industry is driven by wide application of the product in several end use industries. Emerging economies of Asia Pacific region are using corrosion protective coatings for defense sectors like navy (ships). Investments for the same is witnessing progress over the recent years. These factors are expected to drive corrosion protective coatings market substantially in the near future. Implementation of strict government policies is impelling research and development activities in the market. However, introduction and growth of eco-friendly waterborne items as an alternative to solvent borne coatings are hampering the market growth of corrosion protective coatings. Manufactures are adopting several technologies to improve the efficiency of automobiles. Moreover, increasing use of coatings in automotive is expected to bring more opportunities for the manufacturers in corrosion protective coatings industry.

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Corrosion protective coatings market is categorized on the basis of material, technology, end user and geography. On the basis of material, the market is divided into hard rubber lining and soft rubber lining. Soft rubber lining segment is expected to hold larger market share of corrosion protective coatings owing to increasing number of application.

Based on technology, corrosion protective coatings industry is divided into solvent borne epoxy, solids epoxy and waterborne epoxy. Water borne protective coatings are expected to the market of lead corrosion protective coatings since they are extensively used in multiple industrial applications like oil & gas, marine and others.

On the basis of end user, construction, marine, energy & power, automotive, industrial, transportation among others. Owing to the increase in demand for commercial ships due to growing tourism and automobile industry due to increase in demand, marine, transportation and automotive industries are expected to lead corrosion protective coatings market in the coming years.

Geographically, corrosion protective coatings industry is segmented as North America, Europe, Asia Pacific and Middle East & Africa. Asia Pacific is predicted to dominate the market of corrosion protective coatings owing to the speedy developments in shipbuilding, construction, manufacturing and automotive industries.

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