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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.

Friday, October 18, 2019

Struktol's additives and technical solutions showcased on redesigned website - click to expand

CPI announces two distinguished leadership award winners - click to expand

Solvay’s Veradel PESU line in India comes on-stream - click to expand

Michigan Rubber Group announces November technical meeting - click to expand

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

CPI survey reveals strength of polyurethanes across U.S., Canada and Mexico - click to expand

Thursday, October 17, 2019

Center for the Polyurethanes Industry announces winner of the 2019 Polyurethane Award - click to expand

Lanxess introduces a vulcanization accelerator for all types of rubber - click to expand

ARPM unveils training module: Job Setup and Production Flow - click to expand

Dow expands Nordel EPDM portfolio - click to expand

Global agricultural tire market forecast at $7.5 billion by 2024 - click to expand

Wacker presents liquid and solid silicone rubber grades with enhanced product and processing properties - click to expand

Goodyear declares quarterly dividend - click to expand

Wednesday, October 16, 2019

Michelin introduces Endurance XT Silicone Beam wiper blade - click to expand

Adhesives and sealants market forecast to reach $73.8 billion by 2024 - click to expand

Huber Engineered Materials nearly completes Martinswerk expansion - click to expand

K Show 2019 opens today in Dusseldorf - click to expand

Gerlach opens office in Albuquerque, NM, to better serve North American market - click to expand

Arlanxeo illustrates the future of mobility solutions at K2019 - click to expand

Hexpol TPE launches circular TPEs at K2019 - click to expand

Tuesday, October 15, 2019

Michelin announces sport touring tire line-up for motorcycles and scooters - click to expand

Global automotive mold market expected to grow at a CAGR of over 7 percent through 2024 - click to expand

Orion Engineered Carbons appoints Lorin Crenshaw chief financial officer of the Orion group - click to expand

Collaboration brings new colors to Dow’s 3D-printable liquid silicone rubber - click to expand

Mid Atlantic Rubber and Plastics Group holds educational symposium in November - click to expand

Braskem's Delta PP plant remains on target for completion by first quarter of 2020 - click to expand

Monday, October 14, 2019

Toyo Tire U.S.A. Corp. to promote Michael Graber to VP of Sales - click to expand

The Philadelphia Eagles and Braskem announce results from 2018-2019 STEM Scholars Program - click to expand

Michelin recognized by EPA with 2019 SmartWay award - click to expand

Cabot Corporation receives fourth consecutive gold-level rating from EcoVadis - click to expand

Dunlop SP Sport Maxx run-flat tire chosen as factory standard for Lexus LS - click to expand

Yokohama Tire launches two new premium winter tires - click to expand

Market Reports

CPI survey reveals strength of polyurethanes across U.S., Canada and Mexico - click to expand

Global agricultural tire market forecast at $7.5 billion by 2024 - click to expand

Adhesives & sealants market forecast to reach $73.8 billion by 2024 - click to expand

Global automotive mold market is expected to grow at a CAGR of over 7% through 2024 - click to expand

Silicone surfactants market forecast to reach $2.5 billion by 2024 - click to expand

Global silicone elastomers market forecast with a CAGR of 6.2% through 2024 - click to expand

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