The anticorrosion coatings market was valued at approximately US$ 24.83 billion in 2022 and is projected to grow to US$ 38.17 billion by 2030, reflecting an estimated compound annual growth rate (CAGR) of 5.5% from 2022 to 2030.
The growth of the industrial sector, especially in areas such as oil and gas, petrochemicals, power generation, and water treatment, is driving the demand for anticorrosion coatings. The oil and gas sector is particularly influential in the expansion of the anticorrosion coatings market. Countries rich in oil reserves, including Saudi Arabia, Iraq, Iran, and the UAE, have a persistent need for corrosion protection solutions for pipelines, storage tanks, offshore platforms, and refineries. The extreme environmental conditions in these regions, characterized by high temperatures and humidity, further amplify the necessity for effective anticorrosion coatings. The global demand for high-performance coatings has surged, as these regions are pivotal in oil and gas production. The anticorrosion coatings market is expected to experience significant growth by 2030, driven by the robust development of the building and construction sector.
A key factor fueling the growth of the anticorrosion coatings market is the strong presence of the oil and gas industry. Several Middle Eastern countries are crucial players in global oil production. For instance, Saudi Arabia, Iran, and the UAE are among the largest oil producers worldwide. The existence of substantial oil reserves is vital for the economic stability of these nations, as their economies heavily rely on the oil sector. According to the Organization of the Petroleum Exporting Countries (OPEC), Saudi Arabia holds about 17% of the world's proven oil reserves.
The market is categorized by resin type into several segments, including epoxy, polyurethane, acrylic, alkyd, vinyl ester, and others. The epoxy segment dominates the anticorrosion coatings market, holding the largest market share. Epoxy anticorrosion coatings, which are primarily composed of epoxy resins, belong to the category of thermosetting polymers, providing strength and durability to the protective layers they form. These coatings are utilized across various industries, including oil and gas, maritime, automotive, and infrastructure, acting as a primary defense for metal surfaces. The application process involves a careful combination of epoxy resins with curing agents, resulting in a compound that is both chemically resistant and highly adhesive.
In 2022, the Middle East and Africa region accounted for a substantial share of the anticorrosion coatings market. The demand for high-performance coatings has notably increased in the Middle East, which serves as a global center for oil and gas production. For example, the National Iranian Oil Company reports that Iran possesses approximately 158 billion barrels of crude oil reserves. Additionally, the Gachsaran Oil & Gas Production Company indicates that the Gachsaran oil field, operational since 1930, currently produces around 650,000 barrels per day. The market in the Middle East has seen considerable growth in recent years, driven by the region's vibrant industrial environment and expanding infrastructure projects. The ongoing development of oil and gas facilities, pipelines, and marine structures has significantly heightened the demand for advanced anticorrosion coating solutions. The global anticorrosion coatings market is anticipated to grow further by 2030, bolstered by the strong expansion of the building and construction industry.
Prominent companies in the anticorrosion coatings market include RPM International Inc, The Sherwin-Williams Company, Akzo Nobel NV, Jotun AS, PPG Industries Inc, 3M Company, The Progressive Center Company for Construction Chemicals Ltd, Nippon Paint Holdings Co Ltd, BASF SE, and HB Fuller Company. Additionally, various other companies have been analyzed to provide a comprehensive overview of the market and its ecosystem. The study of the anticorrosion coatings market also encompasses company positioning and market concentration to assess the competitive landscape of the industry.
The overall global anticorrosion coatings market size has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Furthermore, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants, valuation experts, research analysts, and key opinion leaders specializing in the anticorrosion coatings market.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Anti-Corrosion Coating Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
 4.3.1 List of Vendors in the Value Chain
5. Anti-Corrosion Coating Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Anti-Corrosion Coating Market - Global Market Analysis
6.1 Anti-Corrosion Coating - Global Market Overview
6.2 Anti-Corrosion Coating - Global Market and Forecast to 2030
7. Anti-Corrosion Coating Market - Volume (Tons), Revenue Analysis (USD Million) - By Resin Type, 2020-2030
7.1 Overview
7.2 Epoxy
7.3 Polyurethane
7.4 Acrylic
7.5 Alkyd
7.6 Vinyl Ester
7.7 Others
8. Anti-Corrosion Coating Market - Revenue Analysis (USD Million) - By Technology, 2020-2030
8.1 Overview
8.2 Solventborne
8.3 Waterborne
8.4 Others
9. Anti-Corrosion Coating Market - Revenue Analysis (USD Million) - By End-Use, 2020-2030
9.1 Overview
9.2 Marine
9.3 Oil and Gas
9.4 Power
9.5 Automotive
9.6 Building and Construction
9.7 Aerospace and Defense
9.8 Others
10. Anti-Corrosion Coating Market - Volume (Tons), Revenue Analysis (USD Million), 2020-2030 - Geographical Analysis
10.1 North America
 10.1.1 North America Anti-Corrosion Coating Market Overview
 10.1.2 North America Anti-Corrosion Coating Market Revenue and Forecasts to 2030
 10.1.3 North America Anti-Corrosion Coating Market Volume, Revenue and Forecasts and Analysis - By Resin Type
 10.1.4 North America Anti-Corrosion Coating Market Revenue and Forecasts and Analysis - By Technology
 10.1.5 North America Anti-Corrosion Coating Market Revenue and Forecasts and Analysis - By End-Use
 10.1.6 North America Anti-Corrosion Coating Market Revenue and Forecasts and Analysis - By Countries
 10.1.6.1 United States Anti-Corrosion Coating Market
 10.1.6.1.1 United States Anti-Corrosion Coating Market, by Resin Type
 10.1.6.1.2 United States Anti-Corrosion Coating Market, by Technology
 10.1.6.1.3 United States Anti-Corrosion Coating Market, by End-Use
 10.1.6.2 Canada Anti-Corrosion Coating Market
 10.1.6.2.1 Canada Anti-Corrosion Coating Market, by Resin Type
 10.1.6.2.2 Canada Anti-Corrosion Coating Market, by Technology
 10.1.6.2.3 Canada Anti-Corrosion Coating Market, by End-Use
 10.1.6.3 Mexico Anti-Corrosion Coating Market
 10.1.6.3.1 Mexico Anti-Corrosion Coating Market, by Resin Type
 10.1.6.3.2 Mexico Anti-Corrosion Coating Market, by Technology
 10.1.6.3.3 Mexico Anti-Corrosion Coating Market, by End-Use
 Note - Similar analysis would be provided for below mentioned regions/countries
 
10.2 Europe
 10.2.1 Germany
 10.2.2 France
 10.2.3 Italy
 10.2.4 United Kingdom
 10.2.5 Russia
 10.2.6 Rest of Europe
10.3 Asia-Pacific
 10.3.1 Australia
 10.3.2 China
 10.3.3 India
 10.3.4 Japan
 10.3.5 South Korea
 10.3.6 Rest of Asia-Pacific
10.4 Middle East and Africa
 10.4.1 South Africa
 10.4.2 Saudi Arabia
 10.4.3 U.A.E
 10.4.4 Rest of Middle East and Africa
10.5 South and Central America
 10.5.1 Brazil
 10.5.2 Argentina
 10.5.3 Rest of South and Central America
11. Industry Landscape
11.1 Mergers and Acquisitions
11.2 Agreements, Collaborations, Joint Ventures
11.3 New Product Launches
11.4 Expansions and Other Strategic Developments
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration
13. Anti-Corrosion Coating Market - Key Company Profiles
13.1 RPM International Inc.
 13.1.1 Key Facts
 13.1.2 Business Description
 13.1.3 Products and Services
 13.1.4 Financial Overview
 13.1.5 SWOT Analysis
 13.1.6 Key Developments
 Note - Similar information would be provided for below list of companies
 
13.2 The Sherwin-Williams Company
13.3 PPG Industries, Inc.
13.4 AkzoNobel N.V.
13.5 Nippon Paint Holdings Co., Ltd.
13.6 BASF SE
13.7 H.B. Fuller Company
13.8 Jotun
13.9 Eastman Chemical Company
13.10 Oasis Coils and Coatings L.L.C.
14. Appendix
14.1 Glossary
14.2 About
14.3 Market Intelligence Cloud
LIST OF TABLES
LIST OF FIGURES
The List of Companies - Anticorrosion Coatings Market
RPM International Inc
The Sherwin-Williams Co
Akzo Nobel NV
Jotun AS
PPG Industries Inc
3M Co
The Progressive Center Co for Construction Chemicals Ltd
Nippon Paint Holdings Co Ltd
BASF SE
HB Fuller Co