The North America Anti-corrosion Coating Market would witness market growth of 7.3% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 1,007.8 kilo tonnes, showcasing a growth of 28% (2020-2023).
Epoxy anti-corrosion coatings are highly durable and versatile, making them a popular choice in the industrial sector. Known for their excellent adhesion, chemical resistance, and mechanical strength, these coatings provide a robust protective barrier against moisture, chemicals, and other environmental factors that cause corrosion. Thus, the Canada market is expected to utilize 125.1 kilo tonnes of Epoxy anti-corrosion coatings by 2031.
The US market dominated the North America Anti-corrosion Coating Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $8,518.9 million by 2031. The Canada market is experiencing a CAGR of 9.3% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 8.7% during (2024 - 2031).
Coatings protect engine components from corrosion due to exposure to high temperatures, fluids, and chemicals. Anti-corrosion coatings are used on transmission systems to prevent rust and ensure smooth operation.
Moreover, in electric vehicles, anti-corrosion coatings protect battery packs and electrical systems from moisture and chemical exposure. Coatings ensure the longevity and reliability of electronic components by preventing corrosion and failure.
Canada experiences various weather conditions, from freezing winters to humid summers. Anti-corrosion coatings protect building materials from moisture, salt, and temperature fluctuations, preventing damage and extending the life of structures in Canada. Modern anti-corrosion coatings are increasingly formulated to be environmentally friendly, aligning with Canada's construction industry's growing emphasis on green building practices and sustainability. Coatings can also improve the energy efficiency of buildings by providing thermal insulation, which is a significant consideration in Canada’s climate. According to Statistics Canada, the 11-census metropolitan area (CMA) composite for residential building construction prices increased 7.6% annually in 2023.
Free Valuable Insights: The Anti-corrosion Coating Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
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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