Anticorrosion Coatings Market - Forecast(2021 - 2026)

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Anticorrosion Coatings MarketMarket size,
Industry outlook, Market Forecast, Demand
Analysis, Market Share, Market Report 2021-2026
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• Anticorrosion Coatings Market size is forecast to
  reach 23,263.19 million by 2025, after growing
  at a CAGR of 5.54 during 2020-2025. 
• Major factors driving anticorrosion coatings
  demand includes growth in construction project,
  expansion of oil and gas activities in Asia
  pacific and North America and growth in
  automotive production. 
• Furthermore, increasing government regulations on
  VOC emission is creating need to develop coatings
  with low VOC emission and enhanced corrosion
  properties which is expected to influence the
  global anticorrosion coatings market growth in
  the coming year. However fluctuation in raw
  materials prices is expected hinder market
  growth. 

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• Key Takeaways
• Price and availability of raw materials are major
  factors that affect the price of the end
  products. The major challenge for the global
  anticorrosion coatings market is the oscillating
  price trends of raw materials, which are
  fluctuating due to volatile energy prices, as
  most of the raw materials are petroleum-based. 
• Fluctuations in crude oil prices impact the cost
  of raw materials such as acrylic, epoxies,
  polyurethanes, and alkyds which are used in the
  production of anti-corrosion coatings. 
• Therefore, the fluctuation in raw materials
  prices is affecting anticorrosion coatings price
  which is limiting its market growth.  

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• By Distribution Channel- Segment Analysis
• Oil Gas is the dominant application for
  anticorrosion coatings market and is anticipated
  to grow at a CAGR of 3.86 through the forecast
  period.  The applications for anticorrosion
  coatings for the oil gas includes drilling,
  wellhead, sub-sea equipment, pipelines and
  others. 
• In oil gas industry, corrosion in the pipelines
  or storage system due to reactive chemicals or
  organic salt in the oil can eventually cause a
  loss of containment of process fluids or can lead
  to serious accident affecting workers,
  environment and economy. Therefore, to reduce the
  risk of corrosion and safe guard the equipment
  containing crude oil and protect the whole
  refinery process, anticorrosion coatings are
  widely used in this industry. 

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• Entrance Matting Market  Industry Outlook 
• BASF SE
• Hempel A/S
• PPG Industries
• AkzoNobel N.V. The Sherwin Williams Company
• Jotun
• Axalta Coating Systems

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osion-coatings-market.html
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