The Latin America, Middle East and Africa Anti-corrosion Coating Market would witness market growth of 7.9% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 1,595.2 kilo tonnes, showcasing a growth of 7.4% (2024-2031).
Solvent-borne anti-corrosion coatings are widely recognized for their superior performance in protecting metal surfaces against corrosion. These coatings use organic solvents to dissolve the binder, pigments, and additives, allowing for a smooth and even application. Solvent-borne coatings are particularly effective in providing strong adhesion, durability, and resistance to harsh environmental conditions, including moisture, chemicals, and UV radiation. Thus, the Saudi Arabia market is expected to utilize 104.81 kilo tonnes anti-crossin coating by Solvent-borne anti-corrosion coatings technology by 2031.
The Brazil market dominated the LAMEA Anti-corrosion Coating Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,574.2 million by 2031. The Argentina market is showcasing a CAGR of 8.5% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 7.1% during (2024 - 2031).
Anti-corrosion coatings prevent electrochemical reactions that compromise the structural integrity of metals and alter their corrosion-induced appearance are slowed. Pipelines transporting oil and gas are often buried underground or submerged underwater, exposing them to soil, water, and other environmental conditions that can cause corrosion.
Additionally, Anti-corrosion coatings, such as fusion-bonded epoxy (FBE) and polyethylene coatings, are applied to the exterior surfaces to protect against these elements. Internal surfaces of pipelines are coated to prevent corrosion caused by the transported hydrocarbons, which can contain water, carbon dioxide (CO2), hydrogen sulfide (H2S), and other corrosive substances. These coatings also help reduce friction and improve flow efficiency.
The UAE has considerable oil and natural gas reserves, ranking among the top producers. The UAE has a well-developed oil and gas exploration, production, refining, and export infrastructure. In addition to oil and gas, the UAE invests in renewable energy, nuclear power, and other non-oil sectors as part of its economic diversification strategy. Coatings prevent corrosion and rust formation on pipelines, ensuring the integrity and safety of the transportation network in the UAE. Internal coatings prevent corrosion and fouling inside pipelines, reducing friction, and improving flow efficiency in the UAE. As per the International Trade Administration (ITA), the United Arab Emirates is among the top ten oil producers in 2022.
Free Valuable Insights: The Worldwide Anti-corrosion Coating Market is Projected to reach 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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