(EMAILWIRE.COM, December 14, 2021 ) The global anti-corrosion coating market is estimated to be USD 24.84billion in 2017 and is projected to reach USD 31.73billion by 2022, at a CAGR of 5.0% from 2017 to 2022. The market has been segmented on the basis of type, technology, end-use industry, and region.

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The acrylic segment isanticipated to be thefastest-growingtype segment of the global anti-corrosion coating market.This growth can be attributed to the increasing demand for acrylic coatings from various end-use industries, such asindustrial, infrastructure, and automotive & transportation.

Based on technology, the waterborne technology is projected to grow at the highest CAGR during the forecast period. The eco-friendly nature of waterborne anti-corrosion coatings has contributed to the growing demand for these coatings from industrial and infrastructure industries, thereby influencing the growth of the waterborne technology segment.

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The power generation segment is projected to be the fastest-
growing end-use industrysegment of the global anti-corrosion coating market. This growth can be attributed to the high demand for anti-corrosion coatings from coal-fired power plants as well as solar and wind energy power plants.

The anti-corrosion coating market in the AsiaPacific regionis anticipated to grow at the highest CAGR from 2017to 2022, owing to the increasing demand for anti-corrosion coatings from the power generation and automotive & transportation industries in this region. In addition, the rising demand for epoxy anti-corrosion coatingsacross various end-use industries has further provided lucrative growth opportunities to manufacturers of anti-corrosion coatingsin the Asia Pacific region.

Key players operating in the global anti-corrosion coatingmarketinclude AkzoNobel N.V. (Netherlands), PPG Industries, Inc. (US), Axalta Coating Systems Ltd. (US), BASF SE (Germany), The Sherwin-Williams Company (US), Ashland Inc. (US), Hempel A/S (Denmark), Jotun (Norway), RPM International Inc. (US), and Kansai Paint Co., Ltd. (Japan).Most of these companies have adopted new product launches and expansions as key growth strategiesto strengthentheir presence in the global anti-corrosion coatingmarket.Furthermore,the demand for anti-corrosion coatings from various end-use industries haspropelled R&D activities for the development of advanced anti-corrosion coatings, thereby providing new growth avenues for anti-corrosion coating manufacturers.

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