The Europe Anti-corrosion Coating Market would witness market growth of 6.4% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 1,732.8 kilo tonnes, showcasing a growth of 27% (2020-2024).
In the oil and gas industry, anti-corrosion coatings are essential for protecting infrastructure such as pipelines, storage tanks, drilling rigs, and refineries from the corrosive effects of hydrocarbons, chemicals, and harsh environmental conditions. These coatings are designed to withstand extreme temperatures, high pressures, and constant exposure to corrosive substances, ensuring the safe and efficient operation of facilities. Thus, the Germany market is expected to utilize kilo tonnes 167.75 of Anti-corrosion coating in oil and gas industry by 2031.
The Germany market dominated the Europe Anti-corrosion Coating Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,874 million by 2031. The UK market is exhibiting a CAGR of 5.5% during (2024 - 2031). Additionally, The France market would experience a CAGR of 7.2% during (2024 - 2031).
Anti-corrosion coatings are applied to the underwater hulls of ships to protect against the corrosive effects of seawater and prevent biofouling, which can decrease speed and fuel efficiency. Coatings above the waterline protect against salt spray, UV radiation, and atmospheric conditions, ensuring the longevity of the vessel’s exterior.
Additionally, these tanks are critical for maintaining a vessel’s stability and are constantly exposed to seawater. Anti-corrosion coatings prevent rust and corrosion, essential for the ship’s structural integrity. Cargo holds, especially in bulk carriers, need protection from corrosive cargoes and seawater. Coatings prevent damage and contamination, ensuring safe and efficient transportation.
The UK’s extensive coastline means many infrastructure projects, such as bridges, ports, and offshore wind farms, are exposed to harsh marine environments. Anti-corrosion coatings protect metal components from saltwater and moisture-induced corrosion in the UK. Advances in anti-corrosion technology, such as developing high-performance coatings with enhanced protective properties, contribute to their increased use in infrastructure projects in the UK. The UK’s extensive network of roads, bridges, tunnels, and railways requires robust protection against corrosion. Anti-corrosion coatings ensure these critical transportation links' structural integrity and safety in the UK.
Free Valuable Insights: The Global Anti-corrosion Coating Market will Hit USD 51.5 Billion by 2031, at a CAGR of 6.7%
Based on Technology, the market is segmented into Solvent-Borne, Water-Borne, Powder Coatings and Other Technologies. Based on Type, the market is segmented into Epoxy, Polyurethane, Acrylic, Alkyd, Zinc, Chlorinated Rubber, and Other Types. Based on End Use Industry, the market is segmented into Marine, Oil & Gas, Industrial, Construction, Energy, Automotive, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Technology (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By End Use Industry (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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