Europe Anti-corrosion Coatings Market Size to Cross $4.5 Billion by 2027

Europe anti-corrosion coatings market outlook is likely to gain from custom-made solutions for onshore and offshore equipment. Without corrosion protection, the annual expenses of industrial corrosion damages that ultimately lead to machinery failure and production losses can be exorbitant. As pipelines, tubing, fasteners, and other industrial equipment is subject to adverse environmental conditions, water, sea salt, and chemicals, anti-corrosion coatings are an indispensable need.

Tough offshore environments particularly require superior abrasion and corrosion resistance to boost the longevity of expensive equipment.
 
Following the closure of factories and industrial facilities due to the COVID-19 crisis, the metal and metal-based components have seen a reduction in demand during 2020. The imposition of lockdowns worldwide arrested manufacturing operations leading to declining production and consumption rates of metal. Although during 2020 Europe anti-corrosion coatings market share plunged by 9% in comparison with the previous year, 2021 is likely to see a recovery of economic activities, reviving market growth.
 
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In terms of product type, Europe anti-corrosion coatings industry forecast has been differentiated into zinc, epoxy, acrylic, alkyd, polyurethane, chlorinated rubber, among others. Epoxy coatings emerged as a dominant segment, commanding over 42% of the industry share during 2020. By 2027, the upcoming expansion of industrial activities is likely to foster further growth.
 
Application of epoxy coatings to metal surfaces is a widespread practice across several industrial applications as they possess exceptional anti-chemical, anti-rust, and anti-abrasion properties. Apart from marine and construction industries, the oil & gas industry is expected to require epoxy coatings.

 
As several production units worldwide are resuming operations, Europe anti-corrosion coatings industry forecast is certain to ascend through 2027, pushed by the growing consumption of water-based coatings. Water-based coatings contain minimum levels of VOC. This renders the product a sustainable solution. Consumers have been turning to water-based coatings as European governments have been implementing strict regulatory policies regarding the use of hazardous compounds and chemicals.
 
The construction sector is also contributing toward overall market growth. Despite the economic volatility during the COVID-19 pandemic, investments from private and public sectors are accelerating the construction industry. By 2027, as the growing population has been demanding new residential projects, Europe anti-corrosion coatings market size is certain to proliferate.
 
Europe anti-corrosion coatings market owed over 19% of its total market share to the oil & gas industry during 2020. The period between 2021 and 2027 is projected to see a expand at more than 4.3% CAGR. The segment recorded a consumption of more than 145 kilotons of anti-corrosion coatings during 2020.
 
 
Some of the leading anti-corrosion coatings manufacturers in Europe consist of Nippon Paint Holdings Co., Axalta Coating Systems, Jotun Group, Sokema Advanced Technology Painting Systems, and Kansai Paint Co.
 
Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope
1.1    Research Methodology
1.2    Market estimation & forecast parameters
1.3    List of Data sources
1.3.1    Primary
1.3.2    Secondary

Chapter 2   Executive Summary
2.1    Europe Anti-corrosion Coatings market snapshot

Chapter 3   Europe Anti-corrosion Coatings Industry Insights
3.1    Industry coverage
3.2    Industry size and forecast, 2017 – 2027
3.3    Industry ecosystem analysis
3.3.1    Vendor matrix
3.4    Future trends
3.4.1    Innovation Landscape
3.5    Raw material analysis
3.6    Regulatory norms & directives
3.7    Drivers & restraints
3.7.1    Drivers
3.7.2    Restraints
3.8    Application growth mapping
3.9    Industry analysis: Porter’s
3.10    Competitive benchmarking
3.10.1    Strategy dashboard
3.11    PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1741/europe-anti-corrosion-coatings-market
 
About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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