The corrosion protection polymer coating market is set to exceed $19.5 billion by 2022, driven by demand in the oil and gas sector despite environmental challenges.
Corrosion of metals and metallic surfaces remains to be a perpetual problem for industries across the globe. Manufacturing and transportation of products in almost every industrial vertical has changed rapidly, registering a higher presence of chemicals factoring such corrosions. Companies continue to adopt innovative and effective corrosion control methods, wherein polymer coatings are an integral offering. High resistance against chemical corrosion and abrasion continues to propel the demand for such corrosion protection polymer coatings, while their manufacturing, which involves hazardous materials & volatile emissions, creates grave concern for the environment.
In the view of stringent regulations imposed by environmental protection agencies on manufacturing of such toxic products, the demand for corrosion protection polymer coating is less likely to witness high upturns in the future. A latest market study published by Future Market Insights anticipates that the global market for corrosion protection polymer coatings will soar at a steady CAGR of 5.1% during the forecast period, 2017-2022. According to this report, the global corrosion protection polymer coating market will be valued at more than US$ 19.5 Bn by the end of 2022. Despite the slew of factors devaluing the production of these industrially-essential materials, the demand for corrosion protection polymer coatings will incur steady growth, primarily due to its rising end-use in the oil & gas industry.
Corrosion Protection Polymer Coating Market: Upsurge in Oil & Gas End-use
The global oil & gas sector continues to attain stability in the times of highly-fluctuating oil prices. With respect to the changing landscape of this industry, companies are focusing towards prevention of industrial failures due to undue chemical corrosion. From oilfield pipelines to refiners, all key industrial surfaces in the oil & gas sector are likely to be coated with corrosion protective polymers. In the future as well, the demand for corrosion protection polymer coatings in oil & gas sector is anticipated to increase. While their contribution to the global market value of corrosion protection polymer coatings will be moderate, oil & gas companies will be observed as fast-grossing end-user during the forecast period. Towards the end of 2022, corrosion protection polymer coatings worth nearly US$ 3 Bn are anticipated to be used by oil & gas companies around the world.
Additional insights from the report:
To remain ahead of your competitors, request for a sample – https://www.futuremarketinsights.com/reports/sample/rep-gb-5002
Companies to Watch
The report also anticipates that companies, namely BASF Coating GmbH, Polycorp Limited, STEULER – KCH GmbH, Koch Knight LLC, Akzo Nobel NV, Axalta Coating Systems, Jotun A/S, Ashland Global Holdings, Inc., PPG Industries, Inc., and The Sherwin Williams Company will remain active in the global market for corrosion protection polymer coatings through 2022.
Market Taxonomy
A concise taxonomy of the global corrosion protection polymer coating market has been summarized below:
Region
Product Type
End Use
Form Type
For in-depth insights, Download a PDF Brochure – https://www.futuremarketinsights.com/reports/brochure/rep-gb-5002
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
Website: https://www.futuremarketinsights.com/
The article discusses the growth of the corrosion protection polymer coating market, projected to reach over $19.5 billion by 2022.
The oil and gas industry's need for corrosion protection drives the demand for polymer coatings.
Environmental regulations and the use of hazardous materials in manufacturing pose challenges.
Explore more articles in the Research Reports category
