Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) — The “Middle East & Africa Corrosion Protection Coating Market Size, Share & Trends Analysis Report By Resin (Acrylic, Epoxy), By End-use (Civil, Marine), By Technology (Waterborne Coatings, Powder Coatings), And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The Middle East & Africa corrosion protection coating (CPC) market size is expected to reach USD 4,382.2 million by 2030. The industry growth is majorly driven by the increasing demand from the construction, automobile, oil & gas, marine, petrochemical, and other industries worldwide. CPCs play a vital role in the oil and gas industry in safeguarding various equipment, infrastructure, and assets against corrosion in harsh operating environments. According to Hempel A/S, numerous factors contribute to the reduced lifespan of equipment in the oil and gas industry.
These factors encompass drilling operations, transportation of oil and gas to processing facilities, constant exposure to corrosive seawater, and enduring harsh weather conditions. In situations where regular maintenance is not feasible, it becomes imperative to employ robust coatings that can extend the lifespan of the equipment. CPCs are applied to both onshore and offshore pipelines to prevent corrosion caused by soil, water, and other substances. They act as a barrier between the metal surface and the surrounding environment, protecting the pipelines from degradation and ensuring their structural integrity. Furthermore, above-ground and underground storage tanks used for storing crude oil, refined products, and chemicals are prone to rusting.
Therefore, CPCs are applied to both the internal and external surfaces of these tanks to prevent corrosion and extend their service life. According to Corrosionpedia, within the automotive industry, there has been a growing focus on the adoption of lightweight construction materials to enhance fuel efficiency and comply with regulatory standards. Automotive manufacturers are leveraging recent advancements in high-strength steels, ultra-high-strength steels, aluminum alloys, magnesium alloys, and composites. Over time, aluminum has gained popularity due to its superior rust resistance when compared to traditional iron and steel materials. Powder coating serves as a widely utilized application in the automotive industry, providing chemical resistance and a high level of heat resistance through the application of suitable powder materials.
Middle East & Africa Corrosion Protection Coating Market Report Highlights
- According to the American Institute of Steel Constriction, CPCs play a vital role in the construction industry by safeguarding various structures and components from damage. These coatings act as a barrier between the steel surface and the surrounding environment, preventing damage caused by moisture, oxygen, and other corrosive agents
- Polyurethane in the resin segment emerged as the fastest-growing resin in 2022 and is estimated to have the fastest CAGR of 5.3% during the forecast period. Polyurethane is a synthetic resin that offers excellent mechanical strength, good adhesion characteristics, and outstanding resistance to chemicals, abrasion, and weathering
- Waterborne Coatings in the technology segment emerged as the fastest-growing segment in 2022 and is estimated to have the fastest CAGR of 5.0% during the forecast period. This growth can be attributed to the benefits, such as reduced risk of fire hazards during storage, lower toxicity when applied on substrates, and compatibility with a variety of metals
- The marine end-use segment led the market in 2022 and is estimated to have the fastest CAGR of 5.2% during the forecast period. This growth is attributed to the increased exposure to saltwater, humidity, and extreme temperatures causing rapid corrosion in metal structures and marine equipment
- Africa is expected to emerge as the fastest-growing region with a CAGR of 4.9% from 2023 to 2030. There has been a significant increase in demand for CPCs in Africa due to harsh environmental conditions, such as high humidity, temperature fluctuations, and saltwater corrosion. Thus, CPCs are now becoming an integral part of corrosion management in the region’s end-use industries
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $3025.3 million |
| Forecasted Market Value (USD) by 2030 | $4382.2 million |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Africa, Middle East |
Companies Mentioned
- AkzoNobel
- Arkema SA
- Axalta Coating Systems
- Berger Paints
- Carboline
- Clariant AG
- Eastman Chemical Company
- Kansai Paint Co., Ltd.
- Nippon Paint
- PPG Industries
- RPM International Inc
- Sherwin-Williams Company
- Sika AG
- Wacker Chemie AG
For more information about this report visit https://www.researchandmarkets.com/r/xfdu9i
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- Global Middle Eastern & African Corrosion Protection Coating Market
