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Global market for corrosion protection rubber linings and coatings forecast at $12 billion by 2022

  8/13/2019 - Valley Cottage, NY - According to the latest research by Future Market Insights (FMI), the global market for corrosion protection rubber linings and coatings will register a healthy expansion during the forecast period (2017-2022). The global corrosion protection rubber linings and coatings market is estimated to account for nearly $12,000 million in revenues by 2022-end. Shifting end-user preferences from solvent-borne solutions to water-borne solutions is a key trend being observed in the market currently. Manufacturers of corrosion protection products are increasingly focusing on safeguarding various end-use sectors' operational performance. These manufacturers are also taking steps to cater to the imperative need of preventing exterior corrosion of industrial surfaces. In addition, the focus on development of highly-volatile deterioration-resistant materials is increasing on the back of a growing inclination towards technologically-advanced corrosion coating. Global leading manufacturers of corrosion protection rubber linings and coatings are making heavy investments in research and development activities, in a bid to develop new techniques for complete prevention of corrosion. Various industrial facilities, ranging from processing equipment, water treatment plants, oil and natural gas tank farms, to pipelines, are at huge risk of corrosion, especially the ones whose structures are made of carbon steel. This is mainly because carbon steel is highly prone to corrosion, which has resulted into production downtime, and repair and replacement activities. Several proactive industries are therefore moving beyond traditional techniques that are only capable of slowing down the corrosion. The industries are further shifting towards adoption of novel techniques, which enable complete prevention from corrosion, thereby minimizing cost, and production downtime needed to replace, repair or re-coat the corroded equipment or material. According to the World Corrosion Organization, over 3 percent of the world's GDP is spent on corrosion-related activities across the globe annually. Projected to account for an over 40 percent revenue share of the market during 2017 to 2022, the solvent-borne segment by form type is expected to remain dominant in the global corrosion protection rubber linings and coatings market. In addition, the water-borne segment is expected to witness a relatively faster expansion in sales through 2022. As solvents comprise of harmful chemicals, end-users are now preferring water-borne solutions over solvent-borne for corrosion protection. Asia-Pacific excluding Japan (APEJ) and North America will remain the largest markets for corrosion protection rubber linings and coatings. The markets in Japan and the Middle East and Africa (MEA) are also expected to witness a healthy expansion through 2022. In addition, the market in Europe is estimated to create an absolute dollar opportunity of roughly $560 million between 2017 and 2022. Hard rubber lining systems are expected to remain preferred among products, with sales projected to account for nearly a two-thirds revenue share of the market during 2017 to 2022. However, soft rubber lining systems' sales are anticipated to reflect a comparatively higher CAGR than that of hard rubber lining systems through 2022. Sales of corrosion protection rubber linings and coatings in marine and construction end-use sectors are expected to collectively account for over a one-third revenue share of the market in 2017. These end-use sectors will witness a rise in their market share through 2022. In addition, oil and gas are expected to remain the fastest growing end-use sector in the market, with sales poised to account for nearly $2,000 million in revenues by 2022-end. Key market players included in FMI's report include The Sherwin Williams Company, Steuler – KCH GmbH, PPG Industries, Inc., Polycorp Limited, Koch Knight LLC, Jotun A/S, BASF SE, Axalta Coating Systems, Ashland Global Holdings, Inc. and Akzo Nobel NV.

Tuesday, July 7, 2020

Conductive Silicone Rubber Market is estimated to reach $8.68 Billion by 2026 - click to expand

Safic-Alcan opens South African subsidiary - click to expand

Halcyon Agri receives $25 million sustainability-linked loan from Deustsche Bank for rubber plantations - click to expand

Arlanxeo goes virtual for its first global Technical Marathon - click to expand

Lianda launches new website in preparation for 25th anniversary - click to expand

Bridgestone donates emergency response trailer to Wilson County, Tennessee - click to expand

Monday, July 6, 2020

Cabot Corporation publishes 2019 Sustainability Report - click to expand

Cooper Standard’s Fortrex technology enables PolyOne launch of next-generation elastomer - click to expand

Cooper Tire adds winter drive tire RM258 for regional haulers - click to expand

Pirelli introduces tire with temperature adapting compound - click to expand

Bridgestone wins trademark dispute against Brazilian retread company New Tyre - click to expand

Friday, July 3, 2020

Book of the Day - Resistance and Stability of Polymers - click to expand

Trinseo announces 2030 sustainability goals - click to expand

Michelin hires eight youth apprentices for full-time positions at Starr, SC, facility - click to expand

Lanxess to hold virtual annual stockholders' meeting August 27 - click to expand

Dow launches MobilityScience platform - click to expand

Thursday, July 2, 2020

Global silicone coating market forecast with a CAGR of 7 percent - click to expand

Siempelkamp announces departure of CEO Christoph Michel - click to expand

Repligen to acquire Engineered Molding Technology - click to expand

Bosch Rexroth hosts free virtual Explore the Factory of the Future event - click to expand

Royal DSM appoints Zhou Tao as DSM China president - click to expand

PolyOne launches OnColor WC Choice for wire and cable applications - click to expand

Trinseo strengthens CASE team with two new hires - click to expand

Wednesday, July 1, 2020

Global thermoplastic elastomer market forecast with a CAGR of 5.6 percent through 2025 - click to expand

Bridgestone teams with Microsoft on intelligent tire monitoring system - click to expand

Hankook Tire named GM Supplier of the Year by General Motors - click to expand

Nokian Tyres invites drivers to enter their favorite road trips - click to expand

Total Cray Valley introduces aliphatic resin - click to expand

Rubber Division and Endurica partner on rubber industry training opportunities - click to expand

Tuesday, June 30, 2020

Stahl partners with CHAMPION project to replace conventional polymers - click to expand

Safic-Alcan extends distribution partnership with Momentive Quartz Technologies - click to expand

Cabot completes placement of all major air emission control equipment at Louisiana site - click to expand

Global OTR tire market anticipated to reach $26.4 billion by 2027 - click to expand

Bridgestone announces voluntary salary reduction for Japan-based corporate officers - click to expand

Kuraray America, Inc. launches nonprofit corporation to support its communities - click to expand

Market Reports

Global fluoroelastomer market forecast at $1.8 billion by 2025 - click to expand

Global automotive flooring markets forecast at $1.32 billion by 2027 - click to expand

Global OTR tire market forecast to reach $8.14 billion by 2026 - click to expand

Conductive Silicone Rubber Market is estimated to reach $8.68 Billion by 2026 - click to expand

Global silicone coating market forecast with a CAGR new 7 percent - click to expand

Global thermoplastic elastomer market forecast with a CAGR of 5.6 percent through 2025 - click to expand

Global OTR tire market anticipated to reach $26.4 billion by 2027 - click to expand

Global pressure sensitive adhesives market forecast to reach $12.8 billion by 2025 - click to expand

Outlook for the rubber economy in the face of Covid-19 - click to expand

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