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Corrosion Protection Rubber Linings And Coatings Market

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The global corrosion protection rubber linings and coatings market is estimated to account for nearly US$ 12,000 Mn revenues by 2022-end.
Corrosion Protection Rubber Linings And Coatings Market on Track to US$ 12,000 Mn
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). The global corrosion protection rubber linings and
coatings market is estimated to account for nearly US$ 12,000 Mn revenues by 2022-end.
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.
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.
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 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 enduse 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.
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.
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ashutosh
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