Corrosion Protective Coatings Market Status, Trends, Segmentation And Analysis Report Forecast 2024

The global corrosion protective coatings market is expected to reach USD 28.02 billion by 2024, according to a new report by Grand View Research, Inc. Rising industrial production coupled with growing spending by regional governments on infrastructure development in emerging countries of Asia Pacific and the Middle East is expected to drive global corrosion protective coatings market growth over the next eight years.

Growing demand for ships for commercial and naval applications coupled with rising investment in ship repairing activities from emerging economies including China, India is expected to drive the market demand over the forecast period. Growing application scope in paper and pulp industry owing to the presence of acidic and corrosive atmosphere in the plant is likely to fuel growth over next eight years.

The rapid growth of the automotive industry in the emerging economies including Asia Pacific and Latin America owing to rising demand for automobiles and rising disposable income of consumers is expected to drive the growth over the forecast period. Growing application scope in rust and corrosion prevention of vehicle body and other metal components is likely to augment market growth. In addition, rising use of waterborne corrosion protective coatings as electrocoating is expected to drive the market demand.

Solvent borne corrosion coatings accounted for a major share of market volume. Wide application scope of epoxy coating and their ability to serve in various operating conditions is expected to drive the market growth. However, rising concern regarding the toxic nature of the solvent borne corrosion protective coating is expected to pose a challenge to market growth over the forecast period.

Browse request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/automotive-refinish-coatings-market/request/rs1