Anti-corrosion coatings are used to protect metal or other surfaces from natural degradation caused by different corrosive agents such as moisture, chemicals and salt. Worldwide, corrosion causes huge financial losses in a large number of industries. It also gradually weakens structures, posing a threat to property and life. Anti-corrosion coatings are one of the most effective and economical solutions for tackling corrosion. They act as a barrier between the surface and the corrosion agent, and prolong the life of the structure as well as enhance its efficiency. Anti-corrosion coatings can be classified into epoxy, polyurethane, acrylic, alkyd, zinc, chlorinated rubber, and others (including silicates, fluorocarbons, co-polymers, ceramic, graphene and glass flakes). The type of anti-corrosion coating used depends on the properties required for the specific application.
Anti-corrosion coatings have become a necessity for industries to safeguard the huge investments they make in terms of money, property and safety of workers. These coatings are used extensively in industries such as marine, oil and gas, petrochemical, infrastructure, and power generation, among others. The global high-performance anti-corrosion coating market size was estimated to be USD 10.5 billion in 2018. For the past few years, the demand for high-performance anti-corrosion coatings has increased slightly year-over-year, led by demand from the oil and gas industry. On the other hand, the demand from the marine industry has weakened as a result of low demand in the new shipbuilding market. However, manufacturers are positive about a recovery in shipbuilding manufacturing, which is likely to drive the demand for overall high-performance anti-corrosion coatings, and the market is projected to grow at a CAGR of around 4.0% between 2019 and 2024.